Envestnet Asset Management Inc. Sells 480,712 Shares of Pacific Gas & Electric Co. (NYSE:PCG)

Envestnet Asset Management Inc. decreased its position in shares of Pacific Gas & Electric Co. (NYSE:PCG) by 40.4% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 710,411 shares of the utilities provider’s stock after selling 480,712 shares during the quarter. Envestnet Asset Management Inc.’s holdings in Pacific Gas & Electric were worth $12,205,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds also recently made changes to their positions in the company. True Wealth Design LLC lifted its holdings in shares of Pacific Gas & Electric by 1,233.6% during the 4th quarter. True Wealth Design LLC now owns 1,827 shares of the utilities provider’s stock valued at $37,000 after buying an additional 1,690 shares during the period. Deseret Mutual Benefit Administrators increased its position in Pacific Gas & Electric by 45.0% during the first quarter. Deseret Mutual Benefit Administrators now owns 2,173 shares of the utilities provider’s stock valued at $37,000 after acquiring an additional 674 shares during the last quarter. Colonial Trust Co SC lifted its holdings in Pacific Gas & Electric by 563.0% in the fourth quarter. Colonial Trust Co SC now owns 1,916 shares of the utilities provider’s stock valued at $39,000 after acquiring an additional 1,627 shares during the period. Versant Capital Management Inc boosted its position in Pacific Gas & Electric by 124.9% in the first quarter. Versant Capital Management Inc now owns 3,470 shares of the utilities provider’s stock worth $60,000 after purchasing an additional 1,927 shares during the last quarter. Finally, Golden State Wealth Management LLC grew its stake in shares of Pacific Gas & Electric by 431.2% during the 1st quarter. Golden State Wealth Management LLC now owns 3,469 shares of the utilities provider’s stock valued at $60,000 after purchasing an additional 2,816 shares during the period. Institutional investors own 78.56% of the company’s stock.

Pacific Gas & Electric Stock Performance

PCG stock opened at $13.43 on Friday. Pacific Gas & Electric Co. has a 1-year low of $12.97 and a 1-year high of $21.72. The business has a 50-day moving average price of $15.07 and a 200 day moving average price of $16.15. The company has a market capitalization of $35.93 billion, a P/E ratio of 12.32, a PEG ratio of 1.00 and a beta of 0.55. The company has a debt-to-equity ratio of 1.79, a current ratio of 0.95 and a quick ratio of 0.90.

Pacific Gas & Electric (NYSE:PCG) last issued its quarterly earnings data on Thursday, April 24th. The utilities provider reported $0.33 earnings per share for the quarter, missing analysts’ consensus estimates of $0.35 by ($0.02). Pacific Gas & Electric had a net margin of 9.81% and a return on equity of 10.35%. The company had revenue of $5.98 billion for the quarter, compared to the consensus estimate of $6.23 billion. During the same period in the previous year, the business earned $0.37 EPS. Pacific Gas & Electric’s revenue for the quarter was up 2.1% compared to the same quarter last year. As a group, equities research analysts forecast that Pacific Gas & Electric Co. will post 1.49 EPS for the current fiscal year.

Pacific Gas & Electric Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, July 15th. Stockholders of record on Monday, June 30th were paid a dividend of $0.025 per share. The ex-dividend date of this dividend was Monday, June 30th. This represents a $0.10 annualized dividend and a dividend yield of 0.74%. Pacific Gas & Electric’s payout ratio is currently 9.17%.

Insider Buying and Selling at Pacific Gas & Electric

In related news, EVP Carla J. Peterman sold 32,519 shares of the stock in a transaction that occurred 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 transaction, the executive vice president owned 151,116 shares in the company, 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 Securities & Exchange Commission, which can be accessed through this link. 0.14% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

Several research analysts have recently commented on PCG shares. BMO Capital Markets decreased their price objective on Pacific Gas & Electric from $23.00 to $22.00 and set an “outperform” rating on the stock in a research note on Monday, April 14th. Jefferies Financial Group upped their target price on shares of Pacific Gas & Electric from $20.00 to $22.00 and gave the stock a “buy” rating in a report on Wednesday, April 23rd. Mizuho increased their price target on Pacific Gas & Electric from $20.00 to $21.00 and gave the stock an “outperform” rating in a research note on Monday, May 19th. Argus raised Pacific Gas & Electric to a “hold” rating in a report on Monday, June 16th. Finally, Evercore ISI upped their price objective on Pacific Gas & Electric from $15.00 to $17.00 and gave the stock an “in-line” rating in a research note on Monday, April 28th. One analyst has rated the stock with a sell rating, four have assigned a hold rating and seven have given a buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $20.73.

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.