Sentry Investment Management LLC Takes Position in Pacific Gas & Electric Co. $PCG

Sentry Investment Management LLC acquired a new stake in shares of Pacific Gas & Electric Co. (NYSE:PCG) during the second quarter, HoldingsChannel reports. The firm acquired 7,026 shares of the utilities provider’s stock, valued at approximately $96,000.

Other institutional investors and hedge funds have also modified their holdings of the company. Vanguard Group Inc. grew its position in Pacific Gas & Electric by 1.2% in the first quarter. Vanguard Group Inc. now owns 257,285,352 shares of the utilities provider’s stock valued at $4,420,162,000 after acquiring an additional 2,926,384 shares during the period. Northern Trust Corp grew its position in Pacific Gas & Electric by 4.3% in the first quarter. Northern Trust Corp now owns 19,944,322 shares of the utilities provider’s stock valued at $342,643,000 after acquiring an additional 818,377 shares during the period. Canada Pension Plan Investment Board grew its position in Pacific Gas & Electric by 352.3% in the first quarter. Canada Pension Plan Investment Board now owns 19,172,519 shares of the utilities provider’s stock valued at $329,384,000 after acquiring an additional 14,933,364 shares during the period. Sessa Capital IM L.P. bought a new stake in Pacific Gas & Electric in the first quarter valued at $320,984,000. Finally, AQR Capital Management LLC grew its position in Pacific Gas & Electric by 317.2% in the first quarter. AQR Capital Management LLC now owns 16,464,333 shares of the utilities provider’s stock valued at $280,305,000 after acquiring an additional 12,518,011 shares during the period. 78.56% of the stock is currently owned by institutional investors.

Pacific Gas & Electric Price Performance

Pacific Gas & Electric stock opened at $16.43 on Monday. The company has a debt-to-equity ratio of 1.81, a quick ratio of 0.89 and a current ratio of 0.94. The firm has a market cap of $43.95 billion, a P/E ratio of 15.07, a P/E/G ratio of 1.23 and a beta of 0.58. The business’s fifty day moving average is $15.38 and its two-hundred day moving average is $15.46. Pacific Gas & Electric Co. has a 52 week low of $12.97 and a 52 week high of $21.72.

Pacific Gas & Electric (NYSE:PCG) last issued its quarterly earnings results on Monday, May 15th. The utilities provider reported $0.30 earnings per share (EPS) for the quarter. Pacific Gas & Electric had a return on equity of 10.13% and a net margin of 9.95%.The business had revenue of $5.80 billion for the quarter. Equities research analysts forecast that Pacific Gas & Electric Co. will post 1.49 earnings per share for the current fiscal year.

Pacific Gas & Electric Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, October 15th. Stockholders of record on Tuesday, September 30th were paid a dividend of $0.025 per share. This represents a $0.10 annualized dividend and a dividend yield of 0.6%. The ex-dividend date of this dividend was Tuesday, September 30th. Pacific Gas & Electric’s dividend payout ratio is 9.17%.

Wall Street Analysts Forecast Growth

A number of analysts have weighed in on PCG shares. Weiss Ratings reiterated a “hold (c-)” rating on shares of Pacific Gas & Electric in a research report on Wednesday, October 8th. Barclays upped their price target on Pacific Gas & Electric from $20.00 to $21.00 and gave the company an “overweight” rating in a research report on Wednesday, October 1st. TD Cowen started coverage on Pacific Gas & Electric in a research report on Thursday. They issued a “buy” rating and a $21.00 price target on the stock. Zacks Research raised Pacific Gas & Electric from a “strong sell” rating to a “hold” rating in a research note on Monday, August 18th. Finally, BMO Capital Markets boosted their price objective on Pacific Gas & Electric from $23.00 to $25.00 and gave the stock an “outperform” rating in a research note on Tuesday, October 14th. One equities research analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating and seven have assigned a Hold rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $20.41.

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.