Reaves W H & Co. Inc. Sells 2,072,851 Shares of Pacific Gas & Electric Co. $PCG

Reaves W H & Co. Inc. reduced its holdings in Pacific Gas & Electric Co. (NYSE:PCG) by 95.1% during the 3rd quarter, Holdings Channel reports. The fund owned 106,570 shares of the utilities provider’s stock after selling 2,072,851 shares during the quarter. Reaves W H & Co. Inc.’s holdings in Pacific Gas & Electric were worth $1,607,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Mediolanum International Funds Ltd grew its holdings in shares of Pacific Gas & Electric by 49.9% during the third quarter. Mediolanum International Funds Ltd now owns 947,127 shares of the utilities provider’s stock worth $14,264,000 after purchasing an additional 315,133 shares during the last quarter. Quinn Opportunity Partners LLC lifted its position in Pacific Gas & Electric by 510.0% during the 2nd quarter. Quinn Opportunity Partners LLC now owns 960,456 shares of the utilities provider’s stock worth $13,389,000 after buying an additional 803,000 shares in the last quarter. Geode Capital Management LLC lifted 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 buying an additional 1,676,093 shares in the last quarter. Rhumbline Advisers grew its holdings in Pacific Gas & Electric by 4.4% during the 2nd quarter. Rhumbline Advisers now owns 4,497,447 shares of the utilities provider’s stock worth $62,694,000 after acquiring an additional 189,353 shares during the last quarter. Finally, Strs Ohio increased its position in 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 acquiring an additional 223,904 shares in the last quarter. 78.56% of the stock is owned by institutional investors and hedge funds.

Pacific Gas & Electric Price Performance

PCG opened at $16.34 on Tuesday. The company has a fifty day moving average price of $15.58 and a two-hundred day moving average price of $15.56. 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 market capitalization of $35.91 billion, a PE ratio of 13.73, a P/E/G ratio of 0.63 and a beta of 0.36. Pacific Gas & Electric Co. has a 52 week low of $12.97 and a 52 week high of $17.95.

Pacific Gas & Electric Increases Dividend

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

Analyst Ratings Changes

A number of equities analysts have recently issued reports on PCG shares. Mizuho set a $21.00 target price on shares of Pacific Gas & Electric in a research report on Wednesday, January 21st. Wall Street Zen upgraded shares of Pacific Gas & Electric from a “hold” rating to a “buy” rating in a research report on Saturday, January 17th. Morgan Stanley reaffirmed an “underperform” rating on shares of Pacific Gas & Electric in a report on Wednesday, January 21st. TD Cowen reiterated a “buy” rating on shares of Pacific Gas & Electric in a research report on Thursday, December 4th. Finally, Wells Fargo & Company boosted their target price on Pacific Gas & Electric from $23.00 to $24.00 and gave the stock an “overweight” rating in a research report on Tuesday, January 20th. Seven analysts have rated the stock with a Buy rating, six have assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $20.55.

About Pacific Gas & Electric

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.