Quantitative Systematic Strategies LLC boosted its stake in Pacific Gas & Electric Co. (NYSE:PCG) by 114.7% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 8,692 shares of the utilities provider’s stock after buying an additional 4,643 shares during the period. Quantitative Systematic Strategies LLC’s holdings in Pacific Gas & Electric Co. were worth $575,000 as of its most recent filing with the SEC.

Other large investors have also recently added to or reduced their stakes in the company. Cornerstone Capital Management Holdings LLC. raised its stake in Pacific Gas & Electric Co. by 1.1% in the first quarter. Cornerstone Capital Management Holdings LLC. now owns 116,722 shares of the utilities provider’s stock valued at $7,745,000 after buying an additional 1,257 shares in the last quarter. Shell Asset Management Co. raised its stake in shares of Pacific Gas & Electric Co. by 3.0% in the first quarter. Shell Asset Management Co. now owns 77,561 shares of the utilities provider’s stock worth $5,147,000 after buying an additional 2,254 shares during the period. Macquarie Group Ltd. raised its stake in shares of 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 during the period. Nationwide Fund Advisors raised its stake in shares of Pacific Gas & Electric Co. by 1.2% in the first quarter. Nationwide Fund Advisors now owns 532,330 shares of the utilities provider’s stock worth $35,325,000 after buying an additional 6,075 shares during the period. Finally, Brookfield Asset Management Inc. increased its position in Pacific Gas & Electric Co. by 4.5% in the first quarter. Brookfield Asset Management Inc. now owns 3,353,119 shares of the utilities provider’s stock worth $222,513,000 after buying an additional 143,130 shares in the last quarter. 81.28% of the stock is owned by institutional investors.

Pacific Gas & Electric Co. (NYSE:PCG) last posted its earnings results on Thursday, July 27th. The utilities provider reported $0.86 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.79 by $0.07. Pacific Gas & Electric Co. had a return on equity of 11.63% and a net margin of 11.48%. The firm had revenue of $4.25 billion for the quarter, compared to analyst estimates of $4.34 billion. During the same quarter in the prior year, the company earned $0.66 EPS. Pacific Gas & Electric Co.’s revenue was up 1.9% on a year-over-year basis.

The company also recently announced a quarterly dividend, which was paid on Saturday, July 15th. Investors of record on Friday, June 30th were paid a dividend of $0.53 per share. This is a positive change from Pacific Gas & Electric Co.’s previous quarterly dividend of $0.49. The ex-dividend date of this dividend was Wednesday, June 28th. This represents a $2.12 annualized dividend and a yield of 3.09%. Pacific Gas & Electric Co.’s dividend payout ratio is presently 52.35%.

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PCG has been the subject of a number of analyst reports. BidaskClub downgraded Pacific Gas & Electric Co. from a “hold” rating to a “sell” rating in a research report on Wednesday, July 12th. Zacks Investment Research downgraded Pacific Gas & Electric Co. from a “buy” rating to a “hold” rating in a research report on Friday, April 28th. Jefferies Group LLC raised their price target on Pacific Gas & Electric Co. from $71.00 to $75.00 and gave the stock a “buy” rating in a research report on Wednesday, May 3rd. Deutsche Bank AG raised their price target on Pacific Gas & Electric Co. from $67.00 to $69.00 and gave the stock a “buy” rating in a research report on Tuesday, April 11th. Finally, Citigroup Inc. raised their price target on Pacific Gas & Electric Co. from $62.00 to $66.00 and gave the stock a “neutral” rating in a research report on Tuesday, April 25th. Six equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. The company currently has a consensus rating of “Buy” and a consensus price target of $69.60.

In related news, COO Nickolas Stavropoulos sold 11,085 shares of the stock in a transaction dated Friday, May 26th. The stock was sold at an average price of $67.37, for a total transaction of $746,796.45. Following the transaction, 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 filing with the SEC, which is available through this hyperlink. 0.15% of the stock is currently owned by corporate insiders.

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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