Comerica Bank Sells 8,842 Shares of Pacific Gas & Electric Co. (PCG)

Comerica Bank cut its stake in shares of Pacific Gas & Electric Co. (NYSE:PCG) by 5.7% during the 3rd quarter, according to its most recent filing with the SEC. The institutional investor owned 146,082 shares of the utilities provider’s stock after selling 8,842 shares during the period. Comerica Bank’s holdings in Pacific Gas & Electric Co. were worth $8,366,000 at the end of the most recent reporting period.

Other institutional investors also recently added to or reduced their stakes in the company. Bank of Stockton acquired a new position in Pacific Gas & Electric Co. during the 3rd quarter worth approximately $224,000. Blair William & Co. IL increased its holdings in Pacific Gas & Electric Co. by 7.4% during the 2nd quarter. Blair William & Co. IL now owns 4,315 shares of the utilities provider’s stock worth $286,000 after purchasing an additional 298 shares during the last quarter. Vicus Capital purchased a new stake in Pacific Gas & Electric Co. during the 3rd quarter worth approximately $342,000. Wealthsource Partners LLC purchased a new stake in Pacific Gas & Electric Co. during the 2nd quarter worth approximately $420,000. Finally, Quantitative Systematic Strategies LLC increased its holdings in Pacific Gas & Electric Co. by 114.7% during the 2nd quarter. Quantitative Systematic Strategies LLC now owns 8,692 shares of the utilities provider’s stock worth $575,000 after purchasing an additional 4,643 shares during the last quarter. 80.76% of the stock is currently owned by hedge funds and other institutional investors.

In other Pacific Gas & Electric Co. news, EVP John R. Simon sold 881 shares of the business’s stock in a transaction on Tuesday, August 22nd. The stock was sold at an average price of $69.43, for a total transaction of $61,167.83. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, VP David S. Thomason sold 700 shares of the business’s stock in a transaction on Wednesday, November 15th. The stock was sold at an average price of $56.82, for a total value of $39,774.00. Following the transaction, the vice president now owns 6,657 shares of the company’s stock, valued at approximately $378,250.74. The disclosure for this sale can be found here. Insiders have sold a total of 3,382 shares of company stock valued at $226,118 in the last quarter. 0.15% of the stock is currently owned by insiders.

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Pacific Gas & Electric Co. (NYSE:PCG) opened at $54.00 on Friday. The company has a debt-to-equity ratio of 0.86, a quick ratio of 0.79 and a current ratio of 0.85. Pacific Gas & Electric Co. has a 12-month low of $49.83 and a 12-month high of $71.57. The stock has a market capitalization of $27,778.84, a price-to-earnings ratio of 12.36, a price-to-earnings-growth ratio of 3.42 and a beta of 0.17.

Pacific Gas & Electric Co. (NYSE:PCG) last announced its quarterly earnings results on Thursday, November 2nd. The utilities provider reported $1.12 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.94 by $0.18. Pacific Gas & Electric Co. had a return on equity of 11.94% and a net margin of 12.59%. The company had revenue of $4.52 billion during the quarter, compared to analyst estimates of $4.82 billion. During the same quarter in the previous year, the firm posted $0.94 EPS. The firm’s quarterly revenue was down 6.1% on a year-over-year basis. sell-side analysts expect that Pacific Gas & Electric Co. will post 3.69 earnings per share for the current fiscal year.

Several research firms have issued reports on PCG. Zacks Investment Research downgraded Pacific Gas & Electric Co. from a “buy” rating to a “hold” rating in a report on Monday, November 13th. Evercore ISI lowered their price target on Pacific Gas & Electric Co. from $66.00 to $61.00 in a report on Monday, October 16th. Royal Bank Of Canada reiterated a “buy” rating and issued a $70.00 price target on shares of Pacific Gas & Electric Co. in a report on Tuesday, August 15th. Barclays PLC boosted their price target on Pacific Gas & Electric Co. from $69.00 to $72.00 and gave the company an “overweight” rating in a report on Friday, September 22nd. Finally, Jefferies Group LLC reiterated a “buy” rating and issued a $76.00 price target on shares of Pacific Gas & Electric Co. in a report on Sunday, July 30th. Five equities research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company’s stock. The company has a consensus rating of “Buy” and a consensus price target of $67.77.

About Pacific Gas & Electric Co.

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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