Country Trust Bank Sells 3,816 Shares of Pacific Gas & Electric Co. (PCG)

Country Trust Bank trimmed its holdings in shares of Pacific Gas & Electric Co. (NYSE:PCG) by 1.7% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 214,844 shares of the utilities provider’s stock after selling 3,816 shares during the period. Country Trust Bank’s holdings in Pacific Gas & Electric Co. were worth $14,629,000 at the end of the most recent quarter.

Several other institutional investors have also bought and sold shares of the company. Russell Investments Group Ltd. boosted its stake in shares of Pacific Gas & Electric Co. by 3.4% during the 2nd quarter. Russell Investments Group Ltd. now owns 2,111,145 shares of the utilities provider’s stock worth $140,089,000 after buying an additional 69,556 shares during the last quarter. Sumitomo Mitsui Trust Holdings Inc. boosted its stake in shares of Pacific Gas & Electric Co. by 1.9% during the 2nd quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 1,691,774 shares of the utilities provider’s stock worth $112,283,000 after buying an additional 30,786 shares during the last quarter. Canada Pension Plan Investment Board raised its holdings in shares of Pacific Gas & Electric Co. by 48.0% in the 3rd quarter. Canada Pension Plan Investment Board now owns 1,557,779 shares of the utilities provider’s stock valued at $106,069,000 after purchasing an additional 504,900 shares during the period. Dimensional Fund Advisors LP raised its holdings in shares of Pacific Gas & Electric Co. by 4.5% in the 1st quarter. Dimensional Fund Advisors LP now owns 898,644 shares of the utilities provider’s stock valued at $59,634,000 after purchasing an additional 39,086 shares during the period. Finally, Rhumbline Advisers raised its holdings in shares of Pacific Gas & Electric Co. by 2.4% in the 2nd quarter. Rhumbline Advisers now owns 873,361 shares of the utilities provider’s stock valued at $57,965,000 after purchasing an additional 20,608 shares during the period. Institutional investors own 81.14% of the company’s stock.

A number of equities research analysts have recently issued reports on the stock. Royal Bank Of Canada reaffirmed a “buy” rating and issued a $70.00 target price on shares of Pacific Gas & Electric Co. in a report on Tuesday, August 15th. BMO Capital Markets reaffirmed a “hold” rating and issued a $69.00 target price on shares of Pacific Gas & Electric Co. in a report on Thursday, July 13th. Evercore ISI dropped their target price on shares of Pacific Gas & Electric Co. from $66.00 to $61.00 in a report on Monday, October 16th. Mizuho reaffirmed a “buy” rating and issued a $74.00 target price on shares of Pacific Gas & Electric Co. in a report on Thursday, July 13th. Finally, Barclays PLC upped their target price on shares of Pacific Gas & Electric Co. from $69.00 to $72.00 and gave the company an “overweight” rating in a report on Friday, September 22nd. Five analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. The company has a consensus rating of “Buy” and an average target price of $67.85.

Pacific Gas & Electric Co. (NYSE:PCG) traded up $0.15 during trading on Friday, reaching $56.80. 5,250,125 shares of the company’s stock traded hands, compared to its average volume of 9,675,817. The stock has a market capitalization of $29,219.22, a P/E ratio of 13.00, a PEG ratio of 3.69 and a beta of 0.17. The company has a debt-to-equity ratio of 0.88, a quick ratio of 0.80 and a current ratio of 0.87.

Pacific Gas & Electric Co. (NYSE:PCG) last released its quarterly earnings results on Thursday, November 2nd. The utilities provider reported $1.12 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.94 by $0.18. The firm had revenue of $4.52 billion for the quarter, compared to analysts’ expectations of $4.82 billion. Pacific Gas & Electric Co. had a net margin of 12.59% and a return on equity of 12.06%. The business’s revenue was down 6.1% on a year-over-year basis. During the same period in the prior year, the firm earned $0.94 EPS. research analysts predict that Pacific Gas & Electric Co. will post 3.68 earnings per share for the current fiscal year.

The business also recently declared a quarterly dividend, which was paid on Sunday, October 15th. Shareholders of record on Friday, September 29th were issued a $0.53 dividend. The ex-dividend date of this dividend was Thursday, September 28th. This represents a $2.12 annualized dividend and a yield of 3.73%. Pacific Gas & Electric Co.’s dividend payout ratio is currently 48.74%.

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In other news, COO Nickolas Stavropoulos sold 1,101 shares of the firm’s stock in a transaction that occurred on Tuesday, August 22nd. The shares were sold at an average price of $69.43, for a total transaction of $76,442.43. Following the transaction, the chief operating officer now directly owns 63,661 shares of the company’s stock, valued at $4,419,983.23. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Roger H. Kimmel bought 4,000 shares of the stock in a transaction dated Tuesday, September 5th. The shares were acquired at an average cost of $69.68 per share, for a total transaction of $278,720.00. The disclosure for this purchase can be found here. Over the last three months, insiders sold 4,915 shares of company stock worth $340,377. Insiders own 0.15% of the company’s stock.

Pacific Gas & Electric Co. Profile

PG&E Corporation is a holding company. The Company’s primary operating subsidiary is Pacific Gas and Electric Company (the Utility), which operates in northern and central California. The Utility is engaged in the sale and delivery of electricity and natural gas to customers. The Utility generates electricity and provides electricity transmission and distribution services throughout its service territory in northern and central California to residential, commercial, industrial, and agricultural customers.

Institutional Ownership by Quarter for Pacific Gas & Electric Co. (NYSE:PCG)

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