Gabelli Funds LLC Has $5.55 Million Position in Pacific Gas & Electric Co. $PCG

Gabelli Funds LLC trimmed its position in Pacific Gas & Electric Co. (NYSE:PCG) by 33.1% during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 397,800 shares of the utilities provider’s stock after selling 196,550 shares during the quarter. Gabelli Funds LLC’s holdings in Pacific Gas & Electric were worth $5,545,000 at the end of the most recent reporting period.

Several other large investors have also recently added to or reduced their stakes in the company. Sessa Capital IM L.P. acquired a new stake in shares of Pacific Gas & Electric during the first quarter worth $320,984,000. Canada Pension Plan Investment Board increased its position in Pacific Gas & Electric by 352.3% during the first quarter. Canada Pension Plan Investment Board now owns 19,172,519 shares of the utilities provider’s stock worth $329,384,000 after acquiring an additional 14,933,364 shares during the period. AQR Capital Management LLC raised its stake in Pacific Gas & Electric by 317.2% in the 1st quarter. AQR Capital Management LLC now owns 16,464,333 shares of the utilities provider’s stock worth $280,305,000 after purchasing an additional 12,518,011 shares in the last quarter. ATLAS Infrastructure Partners UK Ltd. boosted its holdings in Pacific Gas & Electric by 193.4% in the 1st quarter. ATLAS Infrastructure Partners UK Ltd. now owns 10,428,328 shares of the utilities provider’s stock valued at $179,159,000 after purchasing an additional 6,873,576 shares during the period. Finally, Aberdeen Group plc boosted its holdings in Pacific Gas & Electric by 151.4% in the 1st quarter. Aberdeen Group plc now owns 4,077,811 shares of the utilities provider’s stock valued at $69,506,000 after purchasing an additional 2,455,807 shares during the period. Institutional investors own 78.56% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts have recently weighed in on the stock. Zacks Research upgraded shares of Pacific Gas & Electric from a “strong sell” rating to a “hold” rating in a research report on Monday, August 18th. Jefferies Financial Group raised their price objective on Pacific Gas & Electric from $20.00 to $21.00 and gave the stock a “buy” rating in a research note on Wednesday, October 22nd. UBS Group upped their target price on Pacific Gas & Electric from $17.00 to $18.00 and gave the company a “neutral” rating in a research report on Friday, October 24th. Morgan Stanley set a $21.00 price target on Pacific Gas & Electric and gave the stock an “outperform” rating in a research report on Wednesday, October 22nd. Finally, Wall Street Zen downgraded Pacific Gas & Electric from a “buy” rating to a “hold” rating in a research note on Sunday, November 9th. Two research analysts have rated the stock with a Strong Buy rating, seven have given a Buy rating and six have given a Hold rating to the stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $20.64.

Pacific Gas & Electric Trading Up 0.4%

Shares of PCG opened at $15.01 on Wednesday. The company has a debt-to-equity ratio of 1.81, a quick ratio of 0.89 and a current ratio of 0.94. Pacific Gas & Electric Co. has a 52-week low of $12.97 and a 52-week high of $20.43. The firm has a market cap of $32.98 billion, a price-to-earnings ratio of 12.61, a PEG ratio of 0.63 and a beta of 0.37. The business’s fifty day moving average is $16.08 and its 200-day moving average is $15.19.

Pacific Gas & Electric (NYSE:PCG) last released its quarterly earnings data on Monday, May 15th. The utilities provider reported $0.30 earnings per share for the quarter. The business had revenue of $5.80 billion for the quarter. Pacific Gas & Electric had a return on equity of 11.10% and a net margin of 10.93%. Equities analysts anticipate that Pacific Gas & Electric Co. will post 1.49 EPS for the current fiscal year.

Pacific Gas & Electric Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, October 15th. Investors of record on Tuesday, September 30th were issued a dividend of $0.025 per share. The ex-dividend date of this dividend was Tuesday, September 30th. This represents a $0.10 annualized dividend and a dividend yield of 0.7%. Pacific Gas & Electric’s payout ratio is 8.40%.

Insider Transactions at Pacific Gas & Electric

In related news, Director John O. Larsen acquired 7,500 shares of the company’s stock in a transaction that occurred on Tuesday, November 4th. The stock was acquired at an average price of $15.96 per share, with a total value of $119,700.00. Following the purchase, the director directly owned 18,111 shares in the company, valued at approximately $289,051.56. This trade represents a 70.68% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. 0.15% of the stock is currently owned by corporate insiders.

Pacific Gas & Electric Profile

PG&E Corp. operates as a holding company, which engages in generation, transmission, and distribution of electricity and natural gas to customers. It specializes in energy, utility, power, gas, electricity, solar and sustainability. The company was founded in 1995 and is headquartered in Oakland, CA.