Pacific Gas & Electric Co. $PCG Shares Sold by Gabelli Funds LLC

Gabelli Funds LLC lowered its position in Pacific Gas & Electric Co. (NYSE:PCG) by 18.9% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 322,800 shares of the utilities provider’s stock after selling 75,000 shares during the quarter. Gabelli Funds LLC’s holdings in Pacific Gas & Electric were worth $4,868,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently bought and sold shares of PCG. Geode Capital Management LLC raised its stake in Pacific Gas & Electric by 3.0% during the second quarter. Geode Capital Management LLC now owns 58,079,843 shares of the utilities provider’s stock worth $819,447,000 after purchasing an additional 1,676,093 shares during the period. Quinn Opportunity Partners LLC grew its stake in shares of Pacific Gas & Electric by 510.0% in the 2nd quarter. Quinn Opportunity Partners LLC now owns 960,456 shares of the utilities provider’s stock valued at $13,389,000 after buying an additional 803,000 shares during the period. BI Asset Management Fondsmaeglerselskab A S grew its stake in shares of Pacific Gas & Electric by 499.7% in the 2nd quarter. BI Asset Management Fondsmaeglerselskab A S now owns 433,064 shares of the utilities provider’s stock valued at $6,037,000 after buying an additional 360,845 shares during the period. Mediolanum International Funds Ltd increased its holdings in shares of Pacific Gas & Electric by 49.9% during the 3rd 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 during the last quarter. Finally, Rhumbline Advisers raised its position in shares of Pacific Gas & Electric by 4.4% during the 2nd quarter. Rhumbline Advisers now owns 4,497,447 shares of the utilities provider’s stock valued at $62,694,000 after buying an additional 189,353 shares during the period. 78.56% of the stock is currently owned by institutional investors and hedge funds.

Pacific Gas & Electric Stock Down 0.1%

Shares of NYSE PCG opened at $18.16 on Tuesday. The company has a quick ratio of 0.92, a current ratio of 0.97 and a debt-to-equity ratio of 1.84. The business’s 50 day moving average is $16.70 and its two-hundred day moving average is $16.05. Pacific Gas & Electric Co. has a 52-week low of $12.97 and a 52-week high of $19.16. The firm has a market cap of $39.90 billion, a price-to-earnings ratio of 15.39, a PEG ratio of 0.70 and a beta of 0.33.

Pacific Gas & Electric (NYSE:PCG) last released its quarterly earnings results on Wednesday, February 11th. The utilities provider reported $0.36 EPS for the quarter, hitting the consensus estimate of $0.36. Pacific Gas & Electric had a return on equity of 11.28% and a net margin of 10.84%.The business had revenue of $6.80 billion during the quarter, compared to analyst estimates of $7.05 billion. During the same period last year, the business posted $0.31 earnings per share. Research analysts predict that Pacific Gas & Electric Co. will post 1.49 EPS for the current year.

Pacific Gas & Electric Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, April 15th. Investors of record on Tuesday, March 31st will be issued a dividend of $0.05 per share. This represents a $0.20 dividend on an annualized basis and a yield of 1.1%. The ex-dividend date is Tuesday, March 31st. Pacific Gas & Electric’s dividend payout ratio (DPR) is 16.95%.

Insiders Place Their Bets

In other Pacific Gas & Electric news, EVP John R. Simon sold 45,607 shares of Pacific Gas & Electric stock in a transaction dated Thursday, February 19th. The stock was sold at an average price of $18.00, for a total value of $820,926.00. Following the completion of the transaction, the executive vice president directly owned 392,303 shares of the company’s stock, valued at $7,061,454. The trade was a 10.41% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. 0.15% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of research analysts recently commented on PCG shares. UBS Group upgraded Pacific Gas & Electric from a “neutral” rating to a “buy” rating in a report on Monday. Weiss Ratings restated a “hold (c)” rating on shares of Pacific Gas & Electric in a research report on Monday, December 29th. Barclays increased their price target on Pacific Gas & Electric from $21.00 to $23.00 and gave the stock an “overweight” rating in a report on Wednesday, February 18th. Morgan Stanley set a $23.00 price objective on Pacific Gas & Electric in a research report on Friday, February 20th. Finally, Jefferies Financial Group reduced their price objective on shares of Pacific Gas & Electric from $21.00 to $20.00 and set a “buy” rating on the stock in a report on Wednesday, January 28th. Eight equities research analysts have rated the stock with a Buy rating, five have assigned a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, Pacific Gas & Electric has an average rating of “Moderate Buy” and an average target price of $21.09.

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.