TIAA CREF Investment Management LLC lessened its holdings in Pacific Gas and Electric (NYSE:PCG) by 24.9% during the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 2,905,334 shares of the utilities provider’s stock after selling 961,657 shares during the period. TIAA CREF Investment Management LLC owned approximately 0.56% of Pacific Gas and Electric worth $130,246,000 at the end of the most recent reporting period.
Several other large investors also recently bought and sold shares of PCG. Focused Wealth Management Inc purchased a new position in shares of Pacific Gas and Electric during the 4th quarter valued at $108,000. Bronfman E.L. Rothschild L.P. grew its position in Pacific Gas and Electric by 122.1% in the fourth quarter. Bronfman E.L. Rothschild L.P. now owns 2,463 shares of the utilities provider’s stock worth $110,000 after acquiring an additional 1,354 shares in the last quarter. Ford Financial Group Inc. purchased a new position in Pacific Gas and Electric in the fourth quarter worth $110,000. Wolverine Asset Management LLC purchased a new position in Pacific Gas and Electric in the fourth quarter worth $154,000. Finally, M&R Capital Management Inc. grew its position in Pacific Gas and Electric by 443.3% in the fourth quarter. M&R Capital Management Inc. now owns 4,346 shares of the utilities provider’s stock worth $194,000 after acquiring an additional 3,546 shares in the last quarter. 81.19% of the stock is currently owned by institutional investors.
Several equities analysts have recently commented on PCG shares. UBS started coverage on shares of Pacific Gas and Electric in a research note on Friday, February 2nd. They set a “neutral” rating and a $48.00 price objective for the company. Edward Jones raised shares of Pacific Gas and Electric from a “sell” rating to a “hold” rating in a research note on Thursday. ValuEngine downgraded shares of Pacific Gas and Electric from a “buy” rating to a “hold” rating in a research note on Friday, February 2nd. Zacks Investment Research raised shares of Pacific Gas and Electric from a “hold” rating to a “buy” rating and set a $49.00 target price for the company in a research note on Tuesday, April 3rd. Finally, Argus reaffirmed a “hold” rating and set a $41.61 target price (down previously from $44.68) on shares of Pacific Gas and Electric in a research note on Thursday, December 28th. One research analyst has rated the stock with a sell rating, thirteen have given a hold rating and six have given a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and an average target price of $56.17.
Shares of NYSE:PCG traded down $0.06 on Friday, reaching $43.97. The company’s stock had a trading volume of 4,130,883 shares, compared to its average volume of 4,828,349. The stock has a market capitalization of $22,643.19, a P/E ratio of 11.95, a PEG ratio of 2.80 and a beta of -0.01. The company has a quick ratio of 0.81, a current ratio of 0.88 and a debt-to-equity ratio of 0.91. Pacific Gas and Electric has a 52-week low of $37.30 and a 52-week high of $71.57.
Pacific Gas and Electric (NYSE:PCG) last released its quarterly earnings data on Friday, February 9th. The utilities provider reported $0.63 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.69 by ($0.06). Pacific Gas and Electric had a net margin of 9.69% and a return on equity of 9.93%. The company had revenue of $4.10 billion during the quarter, compared to analysts’ expectations of $4.83 billion. During the same period last year, the firm earned $1.33 earnings per share. analysts expect that Pacific Gas and Electric will post 3.81 earnings per share for the current year.
In related news, 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 in the company, valued at approximately $3,473,061.90. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, SVP Julie Kane sold 936 shares of the business’s stock in a transaction that occurred on Tuesday, March 6th. The stock was sold at an average price of $41.93, for a total transaction of $39,246.48. Following the sale, the senior vice president now directly owns 17,602 shares in the company, valued at approximately $738,051.86. The disclosure for this sale can be found here. In the last 90 days, insiders sold 8,875 shares of company stock valued at $372,129. Company insiders own 0.15% of the company’s stock.
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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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