Bank of New York Mellon Corp increased its stake in Pacific Gas & Electric Co. (NYSE:PCG) by 0.4% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 3,799,005 shares of the company’s stock after buying an additional 14,071 shares during the period. Bank of New York Mellon Corp owned about 0.76% of Pacific Gas & Electric Co. worth $232,387,000 as of its most recent SEC filing.

A number of other large investors also recently added to or reduced their stakes in PCG. Envestnet Asset Management Inc. increased its stake in Pacific Gas & Electric Co. by 60.7% in the first quarter. Envestnet Asset Management Inc. now owns 31,796 shares of the company’s stock valued at $1,899,000 after buying an additional 12,011 shares during the period. First Republic Investment Management Inc. increased its position in shares of Pacific Gas & Electric Co. by 36.7% in the first quarter. First Republic Investment Management Inc. now owns 30,171 shares of the company’s stock worth $1,802,000 after buying an additional 8,092 shares during the last quarter. Exxonmobil Investment Management Inc. TX increased its position in shares of Pacific Gas & Electric Co. by 7.0% in the second quarter. Exxonmobil Investment Management Inc. TX now owns 128,400 shares of the company’s stock worth $8,207,000 after buying an additional 8,408 shares during the last quarter. Nisa Investment Advisors LLC increased its position in shares of Pacific Gas & Electric Co. by 27.6% in the second quarter. Nisa Investment Advisors LLC now owns 42,130 shares of the company’s stock worth $2,693,000 after buying an additional 9,120 shares during the last quarter. Finally, Eagle Asset Management Inc. increased its position in shares of Pacific Gas & Electric Co. by 3.9% in the second quarter. Eagle Asset Management Inc. now owns 800,903 shares of the company’s stock worth $51,193,000 after buying an additional 30,138 shares during the last quarter. 79.91% of the stock is currently owned by institutional investors and hedge funds.

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

Shares of Pacific Gas & Electric Co. (NYSE:PCG) opened at 58.80 on Thursday. The firm has a 50-day moving average price of $59.95 and a 200-day moving average price of $61.82. The stock has a market cap of $29.73 billion, a PE ratio of 35.29 and a beta of 0.25. Pacific Gas & Electric Co. has a 12 month low of $50.65 and a 12 month high of $65.43.

Pacific Gas & Electric Co. (NYSE:PCG) last announced its earnings results on Friday, November 4th. The company reported $0.94 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $1.09 by $0.15. Pacific Gas & Electric Co. had a return on equity of 8.52% and a net margin of 4.94%. The business had revenue of $4.81 billion for the quarter, compared to analysts’ expectations of $3.36 billion. During the same quarter last year, the firm earned $0.84 earnings per share. The firm’s quarterly revenue was up 5.7% compared to the same quarter last year. Equities analysts forecast that Pacific Gas & Electric Co. will post $3.72 EPS for the current year.

TRADEMARK VIOLATION NOTICE: This piece was published by The Cerbat Gem and is owned by of The Cerbat Gem. If you are viewing this piece on another website, it was copied illegally and reposted in violation of U.S. and international copyright legislation. The original version of this piece can be viewed at https://www.thecerbatgem.com/2016/12/01/bank-of-new-york-mellon-corp-has-232387000-stake-in-pacific-gas-electric-co-pcg.html.

A number of research analysts have recently issued reports on PCG shares. Goldman Sachs Group Inc. raised Pacific Gas & Electric Co. from a “neutral” rating to a “buy” rating and upped their price target for the company from $66.00 to $67.00 in a report on Monday, October 17th. Jefferies Group lowered their price target on Pacific Gas & Electric Co. from $71.50 to $70.00 and set a “buy” rating on the stock in a report on Monday, August 29th. Zacks Investment Research downgraded Pacific Gas & Electric Co. from a “hold” rating to a “sell” rating in a report on Thursday, October 13th. Finally, Citigroup Inc. reaffirmed a “hold” rating and set a $60.00 price target on shares of Pacific Gas & Electric Co. in a report on Tuesday, October 4th. One investment analyst has rated the stock with a sell rating, one has issued a hold rating and ten have given a buy rating to the company’s stock. The company currently has an average rating of “Buy” and a consensus target price of $66.46.

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). The Utility’s operations include 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.

5 Day Chart for NYSE:PCG

Receive News & Stock Ratings for Pacific Gas & Electric Co. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Pacific Gas & Electric Co. and related stocks with our FREE daily email newsletter.