Chevy Chase Trust Holdings LLC Increases Stock Position in Pacific Gas & Electric Co. (NYSE:PCG)

Chevy Chase Trust Holdings LLC lifted its holdings in Pacific Gas & Electric Co. (NYSE:PCG) by 0.3% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,150,428 shares of the utilities provider’s stock after buying an additional 3,044 shares during the quarter. Chevy Chase Trust Holdings LLC’s holdings in Pacific Gas & Electric were worth $19,764,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. True Wealth Design LLC boosted its stake in Pacific Gas & Electric by 1,233.6% during the fourth quarter. True Wealth Design LLC now owns 1,827 shares of the utilities provider’s stock worth $37,000 after acquiring an additional 1,690 shares in the last quarter. Colonial Trust Co SC increased its stake in shares of Pacific Gas & Electric by 563.0% during the fourth quarter. Colonial Trust Co SC now owns 1,916 shares of the utilities provider’s stock valued at $39,000 after purchasing an additional 1,627 shares in the last quarter. Versant Capital Management Inc lifted its holdings in shares of Pacific Gas & Electric by 124.9% during the first quarter. Versant Capital Management Inc now owns 3,470 shares of the utilities provider’s stock valued at $60,000 after purchasing an additional 1,927 shares during the last quarter. Optiver Holding B.V. boosted its position in shares of Pacific Gas & Electric by 23.9% in the 4th quarter. Optiver Holding B.V. now owns 4,271 shares of the utilities provider’s stock worth $86,000 after purchasing an additional 825 shares in the last quarter. Finally, MassMutual Private Wealth & Trust FSB grew its stake in shares of Pacific Gas & Electric by 30.2% in the 1st quarter. MassMutual Private Wealth & Trust FSB now owns 5,183 shares of the utilities provider’s stock worth $89,000 after buying an additional 1,203 shares during the last quarter. 78.56% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In related news, EVP Carla J. Peterman sold 32,519 shares of the business’s stock in a transaction that occurred on Tuesday, April 29th. The shares were sold at an average price of $17.30, for a total transaction of $562,578.70. Following the completion of the sale, the executive vice president now directly owns 151,116 shares in the company, valued at approximately $2,614,306.80. The trade was a 17.71% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Insiders own 0.14% of the company’s stock.

Pacific Gas & Electric Stock Performance

Shares of NYSE PCG opened at $13.80 on Thursday. The firm’s 50-day moving average price is $16.26 and its 200-day moving average price is $16.92. Pacific Gas & Electric Co. has a 52-week low of $13.34 and a 52-week high of $21.72. The company has a market cap of $36.92 billion, a PE ratio of 12.66, a PEG ratio of 1.00 and a beta of 0.60. The company has a quick ratio of 0.90, a current ratio of 0.95 and a debt-to-equity ratio of 1.79.

Pacific Gas & Electric (NYSE:PCG) last announced its earnings results 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). The company had revenue of $5.98 billion for the quarter, compared to analysts’ expectations of $6.23 billion. Pacific Gas & Electric had a net margin of 9.81% and a return on equity of 10.35%. Pacific Gas & Electric’s quarterly revenue was up 2.1% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.37 earnings per share. As a group, analysts anticipate that Pacific Gas & Electric Co. will post 1.49 EPS for the current year.

Pacific Gas & Electric Dividend Announcement

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

Wall Street Analyst Weigh In

A number of research analysts have issued reports on PCG shares. Jefferies Financial Group lifted their price objective on Pacific Gas & Electric from $20.00 to $22.00 and gave the company a “buy” rating in a research note on Wednesday, April 23rd. UBS Group lowered Pacific Gas & Electric from a “buy” rating to a “neutral” rating and lowered their price target for the stock from $22.00 to $19.00 in a research report on Wednesday, March 19th. Guggenheim increased their price objective on shares of Pacific Gas & Electric from $16.00 to $17.00 and gave the company a “neutral” rating in a research report on Friday, April 25th. Argus upgraded shares of Pacific Gas & Electric to a “hold” rating in a research note on Monday, June 16th. Finally, Evercore ISI upped their target price on shares of 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 investment analyst has rated the stock with a sell rating, four have issued a hold rating and seven have issued a buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $20.73.

About Pacific Gas & Electric

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.