BI Asset Management Fondsmaeglerselskab A S Decreases Position in Pacific Gas & Electric Co. $PCG

BI Asset Management Fondsmaeglerselskab A S lowered its stake in Pacific Gas & Electric Co. (NYSE:PCG) by 50.6% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. 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 SEC filing.

A number of other hedge funds and other institutional investors also recently modified their holdings of PCG. Cornerstone Planning Group LLC boosted its holdings in shares of Pacific Gas & Electric by 3,240.8% during the third quarter. Cornerstone Planning Group LLC now owns 2,372 shares of the utilities provider’s stock worth $36,000 after purchasing an additional 2,301 shares during the period. Mediolanum International Funds Ltd lifted its holdings in Pacific Gas & Electric by 49.9% in 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 period. Transcend Capital Advisors LLC lifted its holdings in Pacific Gas & Electric by 238.1% in the 3rd 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 during the period. Commerzbank Aktiengesellschaft FI grew its position in shares of Pacific Gas & Electric by 19.3% in the 3rd quarter. Commerzbank Aktiengesellschaft FI now owns 41,592 shares of the utilities provider’s stock worth $628,000 after buying an additional 6,725 shares during the last quarter. Finally, Covestor Ltd increased its stake in shares of Pacific Gas & Electric by 20.6% during the third quarter. Covestor Ltd now owns 9,029 shares of the utilities provider’s stock valued at $136,000 after buying an additional 1,544 shares during the period. Institutional investors own 78.56% of the company’s stock.

Pacific Gas & Electric Price Performance

Shares of NYSE PCG opened at $16.42 on Friday. The company has a 50 day moving average of $15.57 and a 200 day moving average of $15.53. The company has a quick ratio of 0.89, a current ratio of 0.94 and a debt-to-equity ratio of 1.81. Pacific Gas & Electric Co. has a twelve month low of $12.97 and a twelve month high of $17.95. The firm has a market cap of $36.09 billion, a P/E ratio of 13.80, a PEG ratio of 0.63 and a beta of 0.36.

Pacific Gas & Electric Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, January 15th. Stockholders of record on Wednesday, December 31st were issued a $0.05 dividend. This is a positive change from Pacific Gas & Electric’s previous quarterly dividend of $0.03. The ex-dividend date was Wednesday, December 31st. This represents a $0.20 dividend on an annualized basis and a dividend yield of 1.2%. Pacific Gas & Electric’s dividend payout ratio (DPR) is presently 16.81%.

Wall Street Analysts Forecast Growth

Several analysts recently weighed in on PCG shares. Jefferies Financial Group cut 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. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Pacific Gas & Electric in a research note on Monday, December 29th. TD Cowen reissued a “buy” rating on shares of Pacific Gas & Electric in a research note on Thursday, December 4th. Wall Street Zen upgraded shares of Pacific Gas & Electric from a “hold” rating to a “buy” rating in a report on Saturday, January 17th. Finally, Morgan Stanley reiterated 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 assigned a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, Pacific Gas & Electric 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.