OVERSEA CHINESE BANKING Corp Ltd Purchases Shares of 33,680 Pacific Gas & Electric Co. $PCG

OVERSEA CHINESE BANKING Corp Ltd bought a new stake in Pacific Gas & Electric Co. (NYSE:PCG) during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund bought 33,680 shares of the utilities provider’s stock, valued at approximately $508,000.

Several other institutional investors also recently modified their holdings of the company. Dynamic Technology Lab Private Ltd bought a new position in Pacific Gas & Electric during the first quarter worth about $203,000. Empowered Funds LLC lifted its holdings in Pacific Gas & Electric by 16.4% during the 1st quarter. Empowered Funds LLC now owns 46,936 shares of the utilities provider’s stock valued at $806,000 after purchasing an additional 6,601 shares during the last quarter. Woodline Partners LP boosted its position in Pacific Gas & Electric by 41.2% during the first quarter. Woodline Partners LP now owns 185,324 shares of the utilities provider’s stock worth $3,184,000 after purchasing an additional 54,033 shares during the period. Focus Partners Wealth increased its holdings in shares of Pacific Gas & Electric by 93.0% in the first quarter. Focus Partners Wealth now owns 83,816 shares of the utilities provider’s stock valued at $1,440,000 after purchasing an additional 40,380 shares during the last quarter. Finally, Miller Howard Investments Inc. NY raised its position in shares of Pacific Gas & Electric by 6.8% in the second quarter. Miller Howard Investments Inc. NY now owns 75,048 shares of the utilities provider’s stock valued at $1,046,000 after purchasing an additional 4,773 shares during the period. 78.56% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Pacific Gas & Electric

In other Pacific Gas & Electric news, Director John O. Larsen bought 7,500 shares of the firm’s stock in a transaction on Tuesday, November 4th. The shares were purchased at an average price of $15.96 per share, for a total transaction of $119,700.00. Following the completion of the transaction, the director directly owned 18,111 shares in the company, valued at approximately $289,051.56. The trade was a 70.68% increase in their position. The transaction was disclosed in a document filed with the SEC, which is available through this link. 0.14% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

Several brokerages recently commented on PCG. Jefferies Financial Group lifted their target price on shares of Pacific Gas & Electric from $20.00 to $21.00 and gave the stock a “buy” rating in a report on Wednesday, October 22nd. JPMorgan Chase & Co. reduced their price objective on Pacific Gas & Electric from $22.00 to $21.00 and set an “overweight” rating for the company in a report on Friday, December 12th. Barclays increased their target price on Pacific Gas & Electric from $20.00 to $21.00 and gave the stock an “overweight” rating in a research note on Wednesday, October 1st. Cowen restated a “buy” rating on shares of Pacific Gas & Electric in a research note on Thursday, December 4th. Finally, BMO Capital Markets upped their price objective on Pacific Gas & Electric from $23.00 to $25.00 and gave the company an “outperform” rating in a report on Tuesday, October 14th. Two research analysts have rated the stock with a Strong Buy rating, seven have given a Buy rating and six have assigned a Hold rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $20.55.

Pacific Gas & Electric Price Performance

Pacific Gas & Electric stock opened at $15.77 on Friday. The stock’s fifty day moving average price is $15.82 and its two-hundred day moving average price is $15.32. The firm has a market cap of $34.66 billion, a PE ratio of 13.25, a price-to-earnings-growth ratio of 0.60 and a beta of 0.38. The company has a debt-to-equity ratio of 1.81, a current ratio of 0.94 and a quick ratio of 0.89. Pacific Gas & Electric Co. has a one year low of $12.97 and a one year high of $17.95.

Pacific Gas & Electric (NYSE:PCG) last issued its earnings results on Thursday, October 23rd. The utilities provider reported $0.50 EPS for the quarter, beating the consensus estimate of $0.44 by $0.06. Pacific Gas & Electric had a net margin of 10.93% and a return on equity of 11.10%. The company had revenue of $6.25 billion during the quarter, compared to analysts’ expectations of $6.33 billion. During the same period in the previous year, the company earned $0.37 EPS. The business’s revenue for the quarter was up 5.2% compared to the same quarter last year. As a group, research analysts expect that Pacific Gas & Electric Co. will post 1.49 EPS for the current fiscal year.

Pacific Gas & Electric Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, January 15th. Stockholders of record on Wednesday, December 31st were issued a dividend of $0.05 per share. This is an increase from Pacific Gas & Electric’s previous quarterly dividend of $0.03. The ex-dividend date of this dividend was Wednesday, December 31st. This represents a $0.20 dividend on an annualized basis and a dividend yield of 1.3%. Pacific Gas & Electric’s payout ratio is presently 16.81%.

Pacific Gas & Electric Profile

Pacific Gas & Electric (NYSE: PCG) is an investor-owned utility holding company whose principal operating subsidiary, Pacific Gas and Electric Company, provides electricity and natural gas service in northern and central California. The company’s core activities include the generation, procurement, transmission and distribution of electric power, as well as the transmission and distribution of natural gas. PG&E serves a broad mix of residential, commercial, and industrial customers across urban and rural communities within its California service territory.

PG&E’s operations encompass utility infrastructure planning and construction, grid operations, customer service and energy procurement.