Pacific Gas & Electric Co. (PCG) Shares Sold by Thrivent Financial For Lutherans

Thrivent Financial For Lutherans reduced its position in shares of 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 2,733,165 shares of the utilities provider’s stock after selling 7,280 shares during the period. Pacific Gas & Electric Co. comprises about 0.8% of Thrivent Financial For Lutherans’ holdings, making the stock its 22nd largest position. Thrivent Financial For Lutherans owned 0.54% of Pacific Gas & Electric Co. worth $181,368,000 as of its most recent SEC filing.

Other hedge funds have also recently made changes to their positions in the company. Teachers Advisors LLC raised its stake in Pacific Gas & Electric Co. by 4.6% in the fourth quarter. Teachers Advisors LLC now owns 1,556,553 shares of the utilities provider’s stock worth $94,592,000 after buying an additional 68,244 shares in the last quarter. Kentucky Retirement Systems bought a new stake in Pacific Gas & Electric Co. during the fourth quarter worth $2,230,000. Kentucky Retirement Systems Insurance Trust Fund bought a new stake in Pacific Gas & Electric Co. during the fourth quarter worth $995,000. Macquarie Group Ltd. raised its stake in Pacific Gas & Electric Co. by 2.1% in the fourth quarter. Macquarie Group Ltd. now owns 1,343,740 shares of the utilities provider’s stock worth $81,659,000 after buying an additional 27,100 shares in the last quarter. Finally, Chevy Chase Trust Holdings Inc. raised its stake in Pacific Gas & Electric Co. by 3.2% in the first quarter. Chevy Chase Trust Holdings Inc. now owns 438,577 shares of the utilities provider’s stock worth $29,104,000 after buying an additional 13,530 shares in the last quarter. 82.27% of the stock is currently owned by institutional investors.

Institutional Ownership by Quarter for Pacific Gas & Electric Co. (NYSE:PCG)

Shares of Pacific Gas & Electric Co. (NYSE PCG) traded up 0.19% during trading on Tuesday, hitting $69.16. 318,178 shares of the company were exchanged. Pacific Gas & Electric Co. has a 12 month low of $57.60 and a 12 month high of $70.32. The stock has a market cap of $35.34 billion, a P/E ratio of 18.76 and a beta of 0.22. The company’s 50-day moving average price is $67.31 and its 200 day moving average price is $64.62.

Pacific Gas & Electric Co. (NYSE:PCG) last released its quarterly earnings results on Tuesday, May 2nd. The utilities provider reported $1.06 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.83 by $0.23. Pacific Gas & Electric Co. had a net margin of 10.42% and a return on equity of 11.33%. The firm had revenue of $4.27 billion for the quarter, compared to the consensus estimate of $4.15 billion. During the same quarter in the previous year, the firm posted $0.82 EPS. On average, equities analysts predict that Pacific Gas & Electric Co. will post $3.67 earnings per share for the current fiscal year.

The company also recently declared a quarterly dividend, which will be paid on Saturday, July 15th. Investors of record on Friday, June 30th will be paid a dividend of $0.53 per share. This is an increase from Pacific Gas & Electric Co.’s previous quarterly dividend of $0.49. The ex-dividend date of this dividend is Wednesday, June 28th. This represents a $2.12 annualized dividend and a yield of 3.07%. Pacific Gas & Electric Co.’s payout ratio is 53.41%.

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A number of research firms have recently weighed in on PCG. Royal Bank Of Canada set a $70.00 price objective on Pacific Gas & Electric Co. and gave the stock a “buy” rating in a research report on Saturday, June 3rd. BMO Capital Markets reaffirmed a “hold” rating and set a $69.00 price objective on shares of Pacific Gas & Electric Co. in a research report on Wednesday, May 3rd. Mizuho reaffirmed a “buy” rating and set a $74.00 price objective on shares of Pacific Gas & Electric Co. in a research report on Wednesday, April 19th. Zacks Investment Research raised Pacific Gas & Electric Co. from a “hold” rating to a “buy” rating and set a $76.00 price objective on the stock in a research report on Wednesday, April 26th. Finally, Wolfe Research lowered Pacific Gas & Electric Co. from an “outperform” rating to a “market perform” rating in a research report on Thursday, May 11th. Four equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the company. The stock presently has a consensus rating of “Buy” and a consensus price target of $71.00.

In related news, COO Nickolas Stavropoulos sold 11,085 shares of Pacific Gas & Electric Co. stock in a transaction on Friday, May 26th. The shares were sold at an average price of $67.37, for a total transaction of $746,796.45. Following the sale, the chief operating officer now owns 68,268 shares of the company’s stock, valued at approximately $4,599,215.16. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Insiders own 0.15% of the company’s stock.

Pacific Gas & Electric Co. Company Profile

PG&E Corporation is a holding company. The Company’s primary operating subsidiary is Pacific Gas and Electric Company (the Utility), which operates in northern and central California. The Utility is engaged in the sale and delivery of electricity and natural gas to customers. The Utility generates electricity and provides electricity transmission and distribution services throughout its service territory in northern and central California to residential, commercial, industrial, and agricultural customers.

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