Comerica Bank Has $8.37 Million Position in Pacific Gas & Electric Co. (PCG)

Comerica Bank trimmed its position in Pacific Gas & Electric Co. (NYSE:PCG) by 5.7% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 146,082 shares of the utilities provider’s stock after selling 8,842 shares during the quarter. Comerica Bank’s holdings in Pacific Gas & Electric were worth $8,366,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Russell Investments Group Ltd. boosted its holdings in Pacific Gas & Electric by 3.4% in the second quarter. Russell Investments Group Ltd. now owns 2,111,145 shares of the utilities provider’s stock valued at $140,089,000 after acquiring an additional 69,556 shares in the last quarter. Sumitomo Mitsui Trust Holdings Inc. boosted its holdings in shares of Pacific Gas & Electric by 1.9% during the 2nd quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 1,691,774 shares of the utilities provider’s stock valued at $112,283,000 after buying an additional 30,786 shares in the last quarter. Canada Pension Plan Investment Board boosted its holdings in shares of Pacific Gas & Electric by 48.0% during 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 buying an additional 504,900 shares in the last quarter. Rhumbline Advisers boosted its holdings in shares of Pacific Gas & Electric by 1.8% during the 3rd quarter. Rhumbline Advisers now owns 888,849 shares of the utilities provider’s stock valued at $60,522,000 after buying an additional 15,488 shares in the last quarter. Finally, Lord Abbett & CO. LLC boosted its holdings in shares of Pacific Gas & Electric by 3.3% during the 2nd quarter. Lord Abbett & CO. LLC now owns 559,793 shares of the utilities provider’s stock valued at $37,153,000 after buying an additional 17,900 shares in the last quarter. 81.14% of the stock is currently owned by institutional investors.

In other news, VP David S. Thomason sold 700 shares of the company’s stock in a transaction dated Wednesday, November 15th. The shares were sold at an average price of $56.82, for a total transaction of $39,774.00. Following the completion of the sale, the vice president now owns 6,657 shares of the company’s stock, valued at approximately $378,250.74. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Roger H. Kimmel purchased 4,000 shares of Pacific Gas & Electric stock in a transaction dated Tuesday, September 5th. The shares were acquired at an average cost of $69.68 per share, with a total value of $278,720.00. The disclosure for this purchase can be found here. 0.15% of the stock is owned by corporate insiders.

PCG has been the topic of a number of research reports. Evercore ISI dropped their target price on shares of Pacific Gas & Electric from $66.00 to $61.00 in a report on Monday, October 16th. Royal Bank Of Canada restated a “buy” rating and set a $70.00 target price on shares of Pacific Gas & Electric in a report on Monday, September 18th. ValuEngine upgraded shares of Pacific Gas & Electric from a “hold” rating to a “buy” rating in a report on Friday, September 1st. BidaskClub upgraded shares of Pacific Gas & Electric from a “hold” rating to a “buy” rating in a research note on Tuesday, August 22nd. Finally, Goldman Sachs Group cut shares of Pacific Gas & Electric from a “conviction-buy” rating to a “buy” rating and set a $65.00 price target on the stock. in a research note on Monday, October 16th. Six investment analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. Pacific Gas & Electric presently has a consensus rating of “Buy” and an average target price of $66.00.

Shares of Pacific Gas & Electric Co. (NYSE PCG) traded down $0.61 during trading hours on Monday, reaching $53.52. The company’s stock had a trading volume of 4,594,245 shares, compared to its average volume of 3,173,143. Pacific Gas & Electric Co. has a fifty-two week low of $49.83 and a fifty-two week high of $71.57. The company has a current ratio of 0.85, a quick ratio of 0.79 and a debt-to-equity ratio of 0.86. The stock has a market cap of $27,580.00, a price-to-earnings ratio of 12.39, a price-to-earnings-growth ratio of 3.43 and a beta of 0.14.

Pacific Gas & Electric (NYSE:PCG) last issued its earnings results on Thursday, November 2nd. The utilities provider reported $1.12 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.94 by $0.18. Pacific Gas & Electric had a return on equity of 11.94% and a net margin of 12.59%. The business 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 earned $0.94 EPS. Pacific Gas & Electric’s revenue was down 6.1% on a year-over-year basis. sell-side analysts anticipate that Pacific Gas & Electric Co. will post 3.69 EPS for the current year.

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Pacific Gas & Electric 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 (NYSE:PCG)

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