BI Asset Management Fondsmaeglerselskab A S Lowers Stake in Pacific Gas & Electric Co. $PCG

BI Asset Management Fondsmaeglerselskab A S trimmed its stake in Pacific Gas & Electric Co. (NYSE:PCG) by 50.6% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 213,881 shares of the utilities provider’s stock after selling 219,183 shares during the period. BI Asset Management Fondsmaeglerselskab A S’s holdings in Pacific Gas & Electric were worth $3,225,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors have also modified their holdings of the stock. Mediolanum International Funds Ltd increased its stake in shares of Pacific Gas & Electric by 49.9% in the third quarter. Mediolanum International Funds Ltd now owns 947,127 shares of the utilities provider’s stock worth $14,264,000 after acquiring an additional 315,133 shares during the period. Quinn Opportunity Partners LLC boosted its holdings in Pacific Gas & Electric by 510.0% in the second quarter. Quinn Opportunity Partners LLC now owns 960,456 shares of the utilities provider’s stock valued at $13,389,000 after purchasing an additional 803,000 shares during the last quarter. Geode Capital Management LLC grew its position in Pacific Gas & Electric by 3.0% during the 2nd 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. Rhumbline Advisers raised its stake 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 last quarter. Finally, Strs Ohio lifted its holdings in shares of Pacific Gas & Electric by 23.6% in the 2nd quarter. Strs Ohio now owns 1,174,404 shares of the utilities provider’s stock valued at $16,371,000 after buying an additional 223,904 shares during the period. 78.56% of the stock is owned by hedge funds and other institutional investors.

Pacific Gas & Electric Price Performance

Shares of NYSE PCG opened at $16.42 on Friday. The company has a debt-to-equity ratio of 1.81, a quick ratio of 0.89 and a current ratio of 0.94. The firm has a fifty day moving average of $15.57 and a 200 day moving average of $15.53. The firm has a market cap of $36.09 billion, a PE ratio of 13.80, a PEG ratio of 0.63 and a beta of 0.36. Pacific Gas & Electric Co. has a one year low of $12.97 and a one year high of $17.95.

Pacific Gas & Electric Increases Dividend

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

Analysts Set New Price Targets

Several research firms recently commented on PCG. Morgan Stanley reaffirmed an “underperform” rating on shares of Pacific Gas & Electric in a report on Wednesday, January 21st. UBS Group raised their price objective on shares of Pacific Gas & Electric from $17.00 to $18.00 and gave the stock a “neutral” rating in a research note on Friday, October 24th. Weiss Ratings reiterated a “hold (c)” rating on shares of Pacific Gas & Electric in a research note on Monday, December 29th. Jefferies Financial Group lowered their price target 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. Finally, Wells Fargo & Company lifted their price objective on shares of Pacific Gas & Electric from $23.00 to $24.00 and gave the company an “overweight” rating in a report on Tuesday, January 20th. Seven investment analysts have rated the stock with a Buy rating, six have issued a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $20.55.

Pacific Gas & Electric Company 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.