Golden State Wealth Management LLC Acquires 2,816 Shares of Pacific Gas & Electric Co. (NYSE:PCG)

Golden State Wealth Management LLC boosted its stake in Pacific Gas & Electric Co. (NYSE:PCG) by 431.2% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 3,469 shares of the utilities provider’s stock after buying an additional 2,816 shares during the period. Golden State Wealth Management LLC’s holdings in Pacific Gas & Electric were worth $60,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also bought and sold shares of the stock. Vanguard Group Inc. lifted its holdings in Pacific Gas & Electric by 2.5% in the fourth quarter. Vanguard Group Inc. now owns 254,358,968 shares of the utilities provider’s stock worth $5,132,964,000 after buying an additional 6,151,233 shares during the period. Geode Capital Management LLC grew its position in Pacific Gas & Electric by 4.3% in the 4th quarter. Geode Capital Management LLC now owns 51,988,553 shares of the utilities provider’s stock worth $1,046,462,000 after purchasing an additional 2,151,494 shares during the period. Capital Research Global Investors grew its position in Pacific Gas & Electric by 70.3% in the 4th quarter. Capital Research Global Investors now owns 46,805,768 shares of the utilities provider’s stock worth $944,540,000 after purchasing an additional 19,317,171 shares during the period. Norges Bank bought a new stake in Pacific Gas & Electric in the 4th quarter worth approximately $591,625,000. Finally, Northern Trust Corp grew its position in Pacific Gas & Electric by 6.8% in the 4th quarter. Northern Trust Corp now owns 19,125,945 shares of the utilities provider’s stock worth $385,962,000 after purchasing an additional 1,214,394 shares during the period. 78.56% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

PCG has been the subject of a number of research analyst reports. UBS Group downgraded shares of Pacific Gas & Electric from a “buy” rating to a “neutral” rating and cut their target price for the stock from $22.00 to $19.00 in a research report on Wednesday, March 19th. Barclays cut their target price on shares of Pacific Gas & Electric from $23.00 to $22.00 and set an “overweight” rating for the company in a research report on Wednesday, April 9th. Wells Fargo & Company reaffirmed an “overweight” rating and issued a $24.00 target price on shares of Pacific Gas & Electric in a research report on Friday, April 25th. Argus raised shares of Pacific Gas & Electric to a “hold” rating in a research report on Monday, June 16th. Finally, Guggenheim lifted their target price on shares of Pacific Gas & Electric from $16.00 to $17.00 and gave the stock a “neutral” rating in a research report on Friday, April 25th. One investment analyst has rated the stock with a sell rating, four have given a hold rating and seven have assigned a buy rating to the stock. Based on data from MarketBeat, Pacific Gas & Electric currently has a consensus rating of “Moderate Buy” and a consensus price target of $20.73.

Insiders Place Their Bets

In related news, EVP Carla J. Peterman sold 32,519 shares of the company’s stock in a transaction on Tuesday, April 29th. The shares were sold at an average price of $17.30, for a total value of $562,578.70. Following the completion of the transaction, the executive vice president owned 151,116 shares of the company’s stock, valued at approximately $2,614,306.80. This represents a 17.71% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Corporate insiders own 0.15% of the company’s stock.

Pacific Gas & Electric Trading Down 0.6%

Shares of Pacific Gas & Electric stock opened at $13.91 on Monday. The company has a market capitalization of $37.20 billion, a P/E ratio of 12.76, a P/E/G ratio of 0.98 and a beta of 0.55. The company has a debt-to-equity ratio of 1.79, a quick ratio of 0.90 and a current ratio of 0.95. The company has a fifty day moving average of $15.79 and a 200 day moving average of $16.60. Pacific Gas & Electric Co. has a fifty-two week low of $13.34 and a fifty-two week high of $21.72.

Pacific Gas & Electric (NYSE:PCG) last issued its earnings results on Thursday, April 24th. The utilities provider reported $0.33 earnings per share for the quarter, missing the consensus estimate of $0.35 by ($0.02). The firm had revenue of $5.98 billion during the quarter, compared to the consensus estimate of $6.23 billion. Pacific Gas & Electric had a return on equity of 10.35% and a net margin of 9.81%. The company’s quarterly revenue was up 2.1% on a year-over-year basis. During the same period in the prior year, the company posted $0.37 EPS. On average, sell-side analysts anticipate that Pacific Gas & Electric Co. will post 1.49 earnings per share for the current fiscal year.

Pacific Gas & Electric Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, July 15th. Investors of record on Monday, June 30th will be issued a $0.025 dividend. This represents a $0.10 annualized dividend and a yield of 0.72%. The ex-dividend date is Monday, June 30th. Pacific Gas & Electric’s dividend payout ratio is currently 9.17%.

Pacific Gas & Electric Company Profile

PG&E Corp. operates as a holding company, which engages in generation, transmission, and distribution of electricity and natural gas to customers. It specializes in energy, utility, power, gas, electricity, solar and sustainability. The company was founded in 1995 and is headquartered in Oakland, CA.