Guggenheim Capital LLC boosted its holdings in Pacific Gas and Electric (NYSE:PCG) by 40.9% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund owned 1,108,489 shares of the utilities provider’s stock after acquiring an additional 321,728 shares during the period. Guggenheim Capital LLC owned 0.22% of Pacific Gas and Electric worth $49,692,000 at the end of the most recent reporting period.
A number of other institutional investors and hedge funds have also added to or reduced their stakes in the stock. QS Investors LLC lifted its holdings in Pacific Gas and Electric by 1.9% in the fourth quarter. QS Investors LLC now owns 82,502 shares of the utilities provider’s stock valued at $3,699,000 after acquiring an additional 1,519 shares during the last quarter. Baker Avenue Asset Management LP acquired a new position in Pacific Gas and Electric in the fourth quarter valued at approximately $1,237,000. Wolverine Asset Management LLC acquired a new position in Pacific Gas and Electric in the fourth quarter valued at approximately $154,000. Advisor Group Inc. lifted its holdings in Pacific Gas and Electric by 30.3% in the fourth quarter. Advisor Group Inc. now owns 20,128 shares of the utilities provider’s stock valued at $901,000 after acquiring an additional 4,677 shares during the last quarter. Finally, Dynamic Capital Management Ltd purchased a new stake in Pacific Gas and Electric in the fourth quarter valued at approximately $11,491,000. Hedge funds and other institutional investors own 81.19% of the company’s stock.
Shares of Pacific Gas and Electric stock traded down $0.06 during trading hours on Friday, reaching $43.97. 4,130,883 shares of the company were exchanged, compared to its average volume of 4,828,349. Pacific Gas and Electric has a 1 year low of $37.30 and a 1 year 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. The firm has a market capitalization of $22,643.19, a P/E ratio of 11.95, a P/E/G ratio of 2.80 and a beta of -0.01.
Pacific Gas and Electric (NYSE:PCG) last posted its quarterly earnings data 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 company had revenue of $4.10 billion for the quarter, compared to analysts’ expectations of $4.83 billion. Pacific Gas and Electric had a return on equity of 9.93% and a net margin of 9.69%. During the same period in the prior year, the company posted $1.33 EPS. sell-side analysts predict that Pacific Gas and Electric will post 3.81 earnings per share for the current year.
In related news, EVP John R. Simon sold 3,211 shares of the business’s stock in a transaction on Tuesday, March 6th. The shares were sold at an average price of $41.93, for a total transaction of $134,637.23. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, COO Nickolas Stavropoulos sold 4,728 shares of the business’s stock in a transaction on Tuesday, March 6th. The stock was sold at an average price of $41.93, for a total transaction of $198,245.04. Following the transaction, the chief operating officer now owns 82,830 shares of the company’s stock, valued at approximately $3,473,061.90. The disclosure for this sale can be found here. In the last quarter, insiders have sold 8,875 shares of company stock valued at $372,129. Insiders own 0.15% of the company’s stock.
A number of analysts have issued reports on the company. UBS assumed coverage on Pacific Gas and Electric in a research report on Friday, February 2nd. They issued a “neutral” rating and a $48.00 target price on the stock. Edward Jones raised Pacific Gas and Electric from a “sell” rating to a “hold” rating in a research report on Thursday. ValuEngine lowered Pacific Gas and Electric from a “buy” rating to a “hold” rating in a research report on Friday, February 2nd. Zacks Investment Research raised Pacific Gas and Electric from a “hold” rating to a “buy” rating and set a $49.00 target price on the stock in a research report on Tuesday, April 3rd. Finally, Argus reissued a “hold” rating and issued a $41.61 target price (down previously from $44.68) on shares of Pacific Gas and Electric in a research report on Thursday, December 28th. 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’s stock. The stock currently has an average rating of “Hold” and a consensus price target of $56.17.
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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.
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