Pacific Gas & Electric Co. (NYSE:PCG) Shares Sold by Reaves W H & Co. Inc.

Key Points

• Reaves W H & Co. Inc. reduced its stake in Pacific Gas & Electric Co. by 8.4% after selling 295,615 shares, holding a total of 3,238,421 shares post-sale.
• Other institutional investors, including Capital Research Global Investors and Zurich Insurance Group, significantly increased their stakes in Pacific Gas & Electric during the fourth quarter.
• Pacific Gas & Electric reported $5.90 billion in revenue for the most recent quarter, which was below analyst expectations of $6.37 billion, marking a 1.5% decline year-over-year.

Reaves W H & Co. Inc. reduced its stake in Pacific Gas & Electric Co. (NYSE:PCG - Free Report) by 8.4% in the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 3,238,421 shares of the utilities provider's stock after selling 295,615 shares during the quarter. Pacific Gas & Electric comprises about 1.4% of Reaves W H & Co. Inc.'s portfolio, making the stock its 27th largest holding. Reaves W H & Co. Inc. owned about 0.12% of Pacific Gas & Electric worth $55,636,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors also recently bought and sold shares of the company. Costello Asset Management INC purchased a new stake in Pacific Gas & Electric in the first quarter valued at approximately $31,000. True Wealth Design LLC boosted its holdings in shares of Pacific Gas & Electric by 1,233.6% in the 4th quarter. True Wealth Design LLC now owns 1,827 shares of the utilities provider's stock valued at $37,000 after acquiring an additional 1,690 shares during the last quarter. Deseret Mutual Benefit Administrators increased its stake in shares of Pacific Gas & Electric by 45.0% in the first quarter. Deseret Mutual Benefit Administrators now owns 2,173 shares of the utilities provider's stock worth $37,000 after acquiring an additional 674 shares during the period. Colonial Trust Co SC raised its holdings in shares of Pacific Gas & Electric by 563.0% during the fourth quarter. Colonial Trust Co SC now owns 1,916 shares of the utilities provider's stock worth $39,000 after purchasing an additional 1,627 shares during the last quarter. Finally, Larson Financial Group LLC lifted its position in Pacific Gas & Electric by 198.1% during the first quarter. Larson Financial Group LLC now owns 3,050 shares of the utilities provider's stock valued at $52,000 after purchasing an additional 2,027 shares during the period. 78.56% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several equities research analysts have weighed in on PCG shares. Argus raised Pacific Gas & Electric to a "hold" rating in a research report on Monday, June 16th. Jefferies Financial Group upped their price objective on Pacific Gas & Electric from $20.00 to $22.00 and gave the stock a "buy" rating in a research report on Wednesday, April 23rd. Barclays lowered their price target on shares of Pacific Gas & Electric from $22.00 to $20.00 and set an "overweight" rating on the stock in a report on Tuesday, July 22nd. Morgan Stanley set a $18.00 target price on Pacific Gas & Electric and gave the company an "underweight" rating in a research report on Thursday, May 22nd. Finally, Mizuho upped their price target on Pacific Gas & Electric from $20.00 to $21.00 and gave the stock an "outperform" rating in a report on Monday, May 19th. One analyst has rated the stock with a sell rating, four have issued a hold rating and seven have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $20.55.

Pacific Gas & Electric Price Performance

Shares of Pacific Gas & Electric stock traded down $0.06 during trading hours on Thursday, reaching $15.08. 20,545,465 shares of the company's stock were exchanged, compared to its average volume of 26,856,956. The business has a fifty day moving average of $14.23 and a two-hundred day moving average of $15.79. The company has a market capitalization of $40.33 billion, a P/E ratio of 13.83, a price-to-earnings-growth ratio of 1.13 and a beta of 0.54. The company has a quick ratio of 0.89, a current ratio of 0.94 and a debt-to-equity ratio of 1.81. Pacific Gas & Electric Co. has a 1 year low of $12.97 and a 1 year high of $21.72.

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

Pacific Gas & Electric Announces Dividend

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

Pacific Gas & Electric 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.