Reaves W H & Co. Inc. Has $1.61 Million Stock Position in Pacific Gas & Electric Co. $PCG

Reaves W H & Co. Inc. lowered its stake in shares of Pacific Gas & Electric Co. (NYSE:PCG) by 95.1% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 106,570 shares of the utilities provider’s stock after selling 2,072,851 shares during the quarter. Reaves W H & Co. Inc.’s holdings in Pacific Gas & Electric were worth $1,607,000 at the end of the most recent reporting period.

Several other large investors have also recently bought and sold shares of the stock. Titleist Asset Management LLC grew its position in Pacific Gas & Electric by 2.1% in the 3rd quarter. Titleist Asset Management LLC now owns 43,832 shares of the utilities provider’s stock worth $661,000 after purchasing an additional 882 shares during the last quarter. Cornerstone Planning Group LLC lifted its stake in shares of Pacific Gas & Electric by 3,240.8% in the third quarter. Cornerstone Planning Group LLC now owns 2,372 shares of the utilities provider’s stock valued at $36,000 after buying an additional 2,301 shares during the period. Mediolanum International Funds Ltd grew its position in Pacific Gas & Electric by 49.9% during the third quarter. Mediolanum International Funds Ltd now owns 947,127 shares of the utilities provider’s stock worth $14,264,000 after buying an additional 315,133 shares in the last quarter. Transcend Capital Advisors LLC grew its position in Pacific Gas & Electric by 238.1% during the third quarter. Transcend Capital Advisors LLC now owns 48,783 shares of the utilities provider’s stock worth $736,000 after buying an additional 34,353 shares in the last quarter. Finally, Commerzbank Aktiengesellschaft FI increased its stake in Pacific Gas & Electric by 19.3% during the third quarter. Commerzbank Aktiengesellschaft FI now owns 41,592 shares of the utilities provider’s stock valued at $628,000 after acquiring an additional 6,725 shares during the period. 78.56% of the stock is currently owned by institutional investors and hedge funds.

Pacific Gas & Electric Stock Performance

Shares of NYSE:PCG opened at $16.34 on Tuesday. The company has a debt-to-equity ratio of 1.81, a current ratio of 0.94 and a quick ratio of 0.89. The business’s fifty day moving average price is $15.58 and its two-hundred day moving average price is $15.56. Pacific Gas & Electric Co. has a fifty-two week low of $12.97 and a fifty-two week high of $17.95. The stock has a market capitalization of $35.91 billion, a price-to-earnings ratio of 13.73, a price-to-earnings-growth ratio of 0.63 and a beta of 0.36.

Pacific Gas & Electric Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, January 15th. Investors of record on Wednesday, December 31st were issued a dividend of $0.05 per share. The ex-dividend date of this dividend was Wednesday, December 31st. This represents a $0.20 annualized dividend and a yield of 1.2%. This is an increase from Pacific Gas & Electric’s previous quarterly dividend of $0.03. Pacific Gas & Electric’s payout ratio is 16.81%.

Wall Street Analysts Forecast Growth

PCG has been the subject of a number of research reports. Weiss Ratings reiterated a “hold (c)” rating on shares of Pacific Gas & Electric in a research report on Monday, December 29th. Jefferies Financial Group reduced their target price on Pacific Gas & Electric from $21.00 to $20.00 and set a “buy” rating for the company in a research report on Wednesday, January 28th. Wells Fargo & Company lifted their price target on shares of Pacific Gas & Electric from $23.00 to $24.00 and gave the stock an “overweight” rating in a research note on Tuesday, January 20th. Wall Street Zen upgraded shares of Pacific Gas & Electric from a “hold” rating to a “buy” rating in a research note on Saturday, January 17th. Finally, Morgan Stanley reaffirmed an “underperform” rating on shares of Pacific Gas & Electric in a report on Wednesday, January 21st. Seven equities research analysts have rated the stock with a Buy rating, six have given a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Hold” and a consensus target price of $20.55.

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.