Rhumbline Advisers Boosts Stake in Pacific Gas & Electric Co. (PCG)

Rhumbline Advisers raised its stake in Pacific Gas & Electric Co. (NYSE:PCG) by 1.8% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 888,849 shares of the utilities provider’s stock after acquiring an additional 15,488 shares during the quarter. Rhumbline Advisers owned approximately 0.17% of Pacific Gas & Electric Co. worth $60,522,000 as of its most recent SEC filing.

Several other hedge funds also recently bought and sold shares of PCG. Oppenheimer Asset Management Inc. bought a new position in shares of Pacific Gas & Electric Co. in the first quarter worth about $118,000. Blair William & Co. IL increased its stake in shares of Pacific Gas & Electric Co. by 7.4% in the second quarter. Blair William & Co. IL now owns 4,315 shares of the utilities provider’s stock valued at $286,000 after buying an additional 298 shares during the period. Vicus Capital acquired a new position in shares of Pacific Gas & Electric Co. in the third quarter valued at approximately $342,000. Wealthsource Partners LLC acquired a new position in shares of Pacific Gas & Electric Co. in the second quarter valued at approximately $420,000. Finally, Quantitative Systematic Strategies LLC increased its stake in shares of Pacific Gas & Electric Co. by 114.7% in the second quarter. Quantitative Systematic Strategies LLC now owns 8,692 shares of the utilities provider’s stock valued at $575,000 after buying an additional 4,643 shares during the period. 80.76% of the stock is owned by hedge funds and other institutional investors.

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Several research firms have recently issued reports on PCG. Zacks Investment Research downgraded Pacific Gas & Electric Co. from a “buy” rating to a “hold” rating in a research note on Monday. Evercore ISI lowered their price objective on Pacific Gas & Electric Co. from $66.00 to $61.00 in a research note on Monday, October 16th. Royal Bank Of Canada reaffirmed a “buy” rating and issued a $70.00 price objective on shares of Pacific Gas & Electric Co. in a research note on Tuesday, August 15th. Barclays PLC upped their price objective on Pacific Gas & Electric Co. from $69.00 to $72.00 and gave the company an “overweight” rating in a research note on Friday, September 22nd. Finally, Jefferies Group LLC reaffirmed a “buy” rating and issued a $76.00 price objective on shares of Pacific Gas & Electric Co. in a research note on Sunday, July 30th. Five research analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. The company currently has a consensus rating of “Buy” and an average price target of $67.77.

In other news, VP David S. Thomason sold 700 shares of the firm’s stock in a transaction that occurred on Wednesday, August 23rd. The shares were sold at an average price of $69.62, for a total transaction of $48,734.00. Following the completion of the sale, the vice president now owns 7,357 shares of the company’s stock, valued at approximately $512,194.34. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, COO Nickolas Stavropoulos sold 1,101 shares of the firm’s stock in a transaction that occurred on Tuesday, August 22nd. The stock was sold at an average price of $69.43, for a total transaction of $76,442.43. Following the sale, the chief operating officer now directly owns 63,661 shares of the company’s stock, valued at approximately $4,419,983.23. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 2,682 shares of company stock valued at $186,344. Insiders own 0.15% of the company’s stock.

Pacific Gas & Electric Co. (PCG) traded down $0.06 during trading hours on Tuesday, reaching $56.89. 5,047,500 shares of the company’s stock were exchanged, compared to its average volume of 2,984,762. The firm has a market cap of $29,296.38, a P/E ratio of 13.03, a PEG ratio of 3.69 and a beta of 0.17. The company has a debt-to-equity ratio of 0.86, a current ratio of 0.85 and a quick ratio of 0.79. Pacific Gas & Electric Co. has a twelve month low of $49.83 and a twelve month high of $71.57.

Pacific Gas & Electric Co. (NYSE:PCG) last announced its quarterly earnings data on Thursday, November 2nd. The utilities provider reported $1.12 EPS for the quarter, topping the consensus estimate of $0.94 by $0.18. The company had revenue of $4.52 billion during the quarter, compared to the consensus estimate of $4.82 billion. Pacific Gas & Electric Co. had a net margin of 12.59% and a return on equity of 11.94%. The company’s quarterly revenue was down 6.1% on a year-over-year basis. During the same quarter last year, the firm posted $0.94 EPS. research analysts expect that Pacific Gas & Electric Co. will post 3.68 EPS for the current fiscal year.

The business also recently disclosed a quarterly dividend, which was paid on Sunday, October 15th. Stockholders of record on Friday, September 29th were given a dividend of $0.53 per share. This represents a $2.12 annualized dividend and a dividend yield of 3.73%. The ex-dividend date was Thursday, September 28th. Pacific Gas & Electric Co.’s dividend payout ratio (DPR) is 48.74%.

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.

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

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