Whittier Trust Co. of Nevada Inc. cut its position in Pacific Gas & Electric Co. (NYSE:PCG) by 0.9% during the second quarter, according to its most recent 13F filing with the SEC. The fund owned 3,455 shares of the utilities provider’s stock after selling 30 shares during the period. Whittier Trust Co. of Nevada Inc.’s holdings in Pacific Gas & Electric Co. were worth $229,000 as of its most recent SEC filing.
A number of other large investors have also made changes to their positions in PCG. Harbour Capital Advisors LLC acquired a new stake in shares of Pacific Gas & Electric Co. during the first quarter worth $100,000. Oppenheimer Asset Management Inc. acquired a new stake in shares of Pacific Gas & Electric Co. during the first quarter worth $118,000. Assetmark Inc. boosted its stake in shares of Pacific Gas & Electric Co. by 8.8% in the first quarter. Assetmark Inc. now owns 1,949 shares of the utilities provider’s stock worth $129,000 after buying an additional 157 shares during the period. Guardian Life Insurance Co. of America boosted its stake in shares of Pacific Gas & Electric Co. by 1.1% in the first quarter. Guardian Life Insurance Co. of America now owns 1,958 shares of the utilities provider’s stock worth $130,000 after buying an additional 21 shares during the period. Finally, Shepherd Financial Partners LLC acquired a new stake in shares of Pacific Gas & Electric Co. during the first quarter worth $201,000. Institutional investors and hedge funds own 81.39% of the company’s stock.
Pacific Gas & Electric Co. (NYSE PCG) traded up 0.92% during midday trading on Friday, hitting $68.26. 1,525,415 shares of the stock were exchanged. The company has a market cap of $34.88 billion, a PE ratio of 18.52 and a beta of 0.21. Pacific Gas & Electric Co. has a 12 month low of $57.60 and a 12 month high of $70.32. The firm’s 50 day moving average price is $67.36 and its 200 day moving average price is $65.60.
Pacific Gas & Electric Co. (NYSE:PCG) last released its earnings results on Tuesday, May 2nd. The utilities provider reported $1.06 earnings per share for the quarter, topping the consensus estimate of $0.83 by $0.23. The company had revenue of $4.27 billion for the quarter, compared to the consensus estimate of $4.15 billion. Pacific Gas & Electric Co. had a net margin of 10.42% and a return on equity of 11.33%. During the same quarter in the previous year, the firm earned $0.82 EPS. On average, equities research analysts forecast that Pacific Gas & Electric Co. will post $3.67 earnings per share for the current fiscal year.
The business also recently announced a quarterly dividend, which was paid on Saturday, July 15th. Shareholders of record on Friday, June 30th were given a dividend of $0.53 per share. This represents a $2.12 annualized dividend and a yield of 3.11%. The ex-dividend date was Wednesday, June 28th. This is an increase from Pacific Gas & Electric Co.’s previous quarterly dividend of $0.49. Pacific Gas & Electric Co.’s payout ratio is currently 57.77%.
A number of brokerages have weighed in on PCG. Royal Bank Of Canada set a $70.00 price objective on shares of Pacific Gas & Electric Co. and gave the stock a “buy” rating in a report on Saturday, June 3rd. BMO Capital Markets restated a “hold” rating and issued a $69.00 price objective on shares of Pacific Gas & Electric Co. in a report on Thursday, July 13th. Mizuho restated a “buy” rating and issued a $74.00 price objective on shares of Pacific Gas & Electric Co. in a report on Thursday, July 13th. Jefferies Group LLC restated a “buy” rating and issued a $75.00 price objective on shares of Pacific Gas & Electric Co. in a report on Friday, July 14th. Finally, Zacks Investment Research upgraded shares of Pacific Gas & Electric Co. from a “hold” rating to a “buy” rating and set a $76.00 price objective on the stock in a report on Wednesday, April 26th. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and seven have given a buy rating to the stock. The company presently has an average rating of “Hold” and an average target price of $70.36.
In other Pacific Gas & Electric Co. news, COO Nickolas Stavropoulos sold 11,085 shares of the business’s stock in a transaction that occurred 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 SEC, which can be accessed through the SEC website. 0.15% of the stock is currently owned by insiders.
About Pacific Gas & Electric Co.
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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