Pacific Gas & Electric Co. (NYSE:PCG) Stock Holdings Trimmed by Levin Capital Strategies L.P.

Key Points

• Levin Capital Strategies L.P. reduced its stake in Pacific Gas & Electric Co. by 3.5% during the first quarter, bringing its total holdings to 947,828 shares, valued at approximately $16.3 million.
• Institutional investors own about 78.56% of Pacific Gas & Electric's stock, with several firms increasing their positions significantly during the fourth quarter.
• Analysts have mixed views on Pacific Gas & Electric, with an average rating of "Moderate Buy" and a consensus target price of $20.55, indicating potential for growth after recent fluctuations in stock performance.

Levin Capital Strategies L.P. reduced its stake in shares of Pacific Gas & Electric Co. (NYSE:PCG - Free Report) by 3.5% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 947,828 shares of the utilities provider's stock after selling 34,403 shares during the quarter. Pacific Gas & Electric accounts for 1.7% of Levin Capital Strategies L.P.'s holdings, making the stock its 20th largest position. Levin Capital Strategies L.P.'s holdings in Pacific Gas & Electric were worth $16,284,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also recently made changes to their positions in the company. Orion Portfolio Solutions LLC boosted its stake in shares of Pacific Gas & Electric by 14.5% in the fourth quarter. Orion Portfolio Solutions LLC now owns 16,503 shares of the utilities provider's stock worth $333,000 after acquiring an additional 2,085 shares during the last quarter. CIBC Private Wealth Group LLC lifted its position in Pacific Gas & Electric by 28.3% in the fourth quarter. CIBC Private Wealth Group LLC now owns 6,969 shares of the utilities provider's stock valued at $134,000 after buying an additional 1,538 shares during the last quarter. Huntington National Bank increased its holdings in Pacific Gas & Electric by 24.9% in the 4th quarter. Huntington National Bank now owns 6,036 shares of the utilities provider's stock valued at $122,000 after purchasing an additional 1,205 shares during the last quarter. World Investment Advisors purchased a new position in shares of Pacific Gas & Electric in the fourth quarter valued at approximately $203,000. Finally, Resona Asset Management Co. Ltd. purchased a new stake in shares of Pacific Gas & Electric during the fourth quarter worth $14,333,000. 78.56% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of analysts have issued reports on the company. BMO Capital Markets decreased their price target on Pacific Gas & Electric from $23.00 to $22.00 and set an "outperform" rating for the company in a report on Monday, April 14th. Mizuho boosted their price target on shares of Pacific Gas & Electric from $20.00 to $21.00 and gave the stock an "outperform" rating in a research note on Monday, May 19th. Evercore ISI boosted their target price on shares of Pacific Gas & Electric from $15.00 to $17.00 and gave the stock an "in-line" rating in a research report on Monday, April 28th. Argus upgraded Pacific Gas & Electric to a "hold" rating in a research report on Monday, June 16th. Finally, Jefferies Financial Group boosted their price objective on shares of Pacific Gas & Electric from $20.00 to $22.00 and gave the stock a "buy" rating in a research report on Wednesday, April 23rd. One analyst has rated the stock with a sell rating, four have issued a hold rating and seven have issued a buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $20.55.

Pacific Gas & Electric Trading Down 0.4%

Shares of PCG traded down $0.06 during trading hours on Thursday, hitting $15.08. The stock had a trading volume of 20,545,465 shares, compared to its average volume of 26,856,956. Pacific Gas & Electric Co. has a 12-month low of $12.97 and a 12-month high of $21.72. The firm has a market cap of $40.33 billion, a P/E ratio of 13.83, a P/E/G ratio of 1.13 and a beta of 0.54. The company has a debt-to-equity ratio of 1.81, a quick ratio of 0.89 and a current ratio of 0.94. The company's fifty day simple moving average is $14.23 and its 200 day simple moving average is $15.79.

Pacific Gas & Electric (NYSE:PCG - Get Free Report) last posted its quarterly earnings results on Thursday, July 31st. The utilities provider reported $0.31 EPS for the quarter, missing the consensus estimate of $0.33 by ($0.02). Pacific Gas & Electric had a net margin of 9.95% and a return on equity of 10.13%. The business had revenue of $5.90 billion during the quarter, compared to analysts' expectations of $6.37 billion. During the same quarter in the previous year, the business posted $0.31 EPS. The company's quarterly revenue was down 1.5% on a year-over-year basis. Equities research analysts forecast that Pacific Gas & Electric Co. will post 1.49 EPS for the current fiscal year.

Pacific Gas & Electric Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, July 15th. Shareholders of record on Monday, June 30th were given a $0.025 dividend. The ex-dividend date of this dividend was Monday, June 30th. This represents a $0.10 annualized dividend and a yield of 0.7%. Pacific Gas & Electric's dividend payout ratio (DPR) is 9.17%.

Pacific Gas & Electric Company Profile

PG&E Corp. operates as a holding company, which engages in generation, transmission, and distribution of electricity and natural gas to customers. It specializes in energy, utility, power, gas, electricity, solar and sustainability. The company was founded in 1995 and is headquartered in Oakland, CA.