First Wilshire Securities Management Inc. Buys New Stake in Pacific Gas and Electric (PCG)

First Wilshire Securities Management Inc. bought a new position in Pacific Gas and Electric (NYSE:PCG) during the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The firm bought 136,912 shares of the utilities provider’s stock, valued at approximately $6,138,000. Pacific Gas and Electric accounts for 1.7% of First Wilshire Securities Management Inc.’s investment portfolio, making the stock its 22nd largest holding.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the business. BlackRock Inc. raised its holdings in Pacific Gas and Electric by 14.1% in the fourth quarter. BlackRock Inc. now owns 47,304,993 shares of the utilities provider’s stock worth $2,120,684,000 after purchasing an additional 5,843,568 shares during the period. Lazard Asset Management LLC raised its holdings in Pacific Gas and Electric by 94.8% in the fourth quarter. Lazard Asset Management LLC now owns 14,476,348 shares of the utilities provider’s stock worth $648,972,000 after purchasing an additional 7,045,472 shares during the period. Two Sigma Advisers LP raised its holdings in Pacific Gas and Electric by 720.2% in the fourth quarter. Two Sigma Advisers LP now owns 6,035,878 shares of the utilities provider’s stock worth $270,588,000 after purchasing an additional 5,299,965 shares during the period. APG Asset Management N.V. raised its holdings in Pacific Gas and Electric by 29.1% in the fourth quarter. APG Asset Management N.V. now owns 5,676,171 shares of the utilities provider’s stock worth $211,911,000 after purchasing an additional 1,278,152 shares during the period. Finally, Geode Capital Management LLC raised its holdings in Pacific Gas and Electric by 2.0% in the fourth quarter. Geode Capital Management LLC now owns 5,097,490 shares of the utilities provider’s stock worth $228,014,000 after purchasing an additional 98,549 shares during the period. Institutional investors own 81.19% of the company’s stock.

How to Become a New Pot Stock Millionaire

PCG has been the topic of several analyst reports. Citigroup reiterated a “hold” rating and issued a $45.00 target price on shares of Pacific Gas and Electric in a report on Monday, January 22nd. Royal Bank of Canada lowered shares of Pacific Gas and Electric from an “outperform” rating to a “sector perform” rating in a report on Thursday, December 21st. Mizuho reiterated a “hold” rating and issued a $46.00 target price on shares of Pacific Gas and Electric in a report on Thursday. Deutsche Bank reiterated a “buy” rating and issued a $61.00 target price on shares of Pacific Gas and Electric in a report on Thursday, December 21st. Finally, Guggenheim lowered shares of Pacific Gas and Electric from a “neutral” rating to a “sell” rating in a report on Tuesday, January 2nd. One research analyst has rated the stock with a sell rating, thirteen have issued a hold rating and six have issued a buy rating to the company. The company has a consensus rating of “Hold” and a consensus price target of $56.17.

Shares of NYSE:PCG opened at $43.97 on Friday. The firm has a market cap of $22,380.56, a P/E ratio of 11.95, a P/E/G ratio of 2.76 and a beta of -0.01. Pacific Gas and Electric has a 12 month low of $37.30 and a 12 month high of $71.57. The company has a current ratio of 0.88, a quick ratio of 0.81 and a debt-to-equity ratio of 0.91.

Pacific Gas and Electric (NYSE:PCG) last released its earnings results on Friday, February 9th. The utilities provider reported $0.63 earnings per share for the quarter, missing analysts’ consensus estimates of $0.69 by ($0.06). The business had revenue of $4.10 billion during the quarter, compared to the consensus estimate of $4.83 billion. Pacific Gas and Electric had a net margin of 9.69% and a return on equity of 9.93%. During the same period last year, the business posted $1.33 EPS. research analysts predict that Pacific Gas and Electric will post 3.81 earnings per share for the current fiscal year.

In other news, SVP Julie Kane sold 936 shares of the business’s stock in a transaction that occurred on Tuesday, March 6th. The shares were sold at an average price of $41.93, for a total value of $39,246.48. Following the completion of the transaction, the senior vice president now directly owns 17,602 shares in the company, valued at approximately $738,051.86. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, COO Nickolas Stavropoulos sold 4,728 shares of the business’s stock in a transaction that occurred on Tuesday, March 6th. The shares were sold at an average price of $41.93, for a total transaction of $198,245.04. Following the completion of the transaction, the chief operating officer now owns 82,830 shares of the company’s stock, valued at $3,473,061.90. The disclosure for this sale can be found here. In the last ninety days, insiders sold 8,875 shares of company stock valued at $372,129. 0.15% of the stock is owned by insiders.

ILLEGAL ACTIVITY WARNING: “First Wilshire Securities Management Inc. Buys New Stake in Pacific Gas and Electric (PCG)” was originally posted by Dispatch Tribunal and is the sole property of of Dispatch Tribunal. If you are accessing this article on another domain, it was copied illegally and republished in violation of international copyright & trademark laws. The correct version of this article can be read at https://www.dispatchtribunal.com/2018/04/07/first-wilshire-securities-management-inc-takes-position-in-pge-co-pcg.html.

Pacific Gas and Electric Company Profile

PG&E Corporation, through its subsidiary, Pacific Gas and Electric Company, engages in the sale and delivery of electricity and natural gas to residential, commercial, industrial, and agricultural customers in northern and central California, the United States. The company's electricity distribution network consists of approximately 107,200 circuit miles of distribution lines, 59 transmission switching substations, and 605 distribution substations; and electricity transmission network comprises approximately 19,200 circuit miles of interconnected transmission lines and 92 electric transmission substations.

Institutional Ownership by Quarter for Pacific Gas and Electric (NYSE:PCG)

Receive News & Ratings for Pacific Gas and Electric Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Pacific Gas and Electric and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply