Sumitomo Mitsui Trust Group Inc. Has $90.24 Million Position in Pacific Gas & Electric Co. $PCG

Key Points

• Sumitomo Mitsui Trust Group trimmed its stake in Pacific Gas & Electric by 2.2% in Q4 and now holds 5,615,240 shares worth approximately $90.24 million (about 0.26% of PCG).
• The company saw insider selling of 84,286 shares last quarter valued at roughly $1.53 million, while institutional investors own about 78.56% of the stock.
• Analysts have grown more positive—JPMorgan and Wells Fargo raised price targets to $24 and UBS upgraded to a buy—and PG&E declared a quarterly dividend of $0.05 (1.1% yield).

Sumitomo Mitsui Trust Group Inc. cut its holdings in shares of Pacific Gas & Electric Co. (NYSE:PCG - Free Report) by 2.2% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 5,615,240 shares of the utilities provider's stock after selling 127,023 shares during the period. Sumitomo Mitsui Trust Group Inc. owned about 0.26% of Pacific Gas & Electric worth $90,237,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Titleist Asset Management LLC lifted its stake in Pacific Gas & Electric by 2.1% during the third quarter. Titleist Asset Management LLC now owns 43,832 shares of the utilities provider's stock worth $661,000 after purchasing an additional 882 shares during the last quarter. FreeGulliver LLC lifted its stake in shares of Pacific Gas & Electric by 7.9% in the 3rd quarter. FreeGulliver LLC now owns 13,482 shares of the utilities provider's stock valued at $203,000 after acquiring an additional 987 shares during the last quarter. Fifth Third Wealth Advisors LLC lifted its stake in shares of Pacific Gas & Electric by 8.1% in the 3rd quarter. Fifth Third Wealth Advisors LLC now owns 17,195 shares of the utilities provider's stock valued at $259,000 after acquiring an additional 1,283 shares during the last quarter. Covestor Ltd lifted its stake in shares of Pacific Gas & Electric by 20.6% in the 3rd quarter. Covestor Ltd now owns 9,029 shares of the utilities provider's stock valued at $136,000 after acquiring an additional 1,544 shares during the last quarter. Finally, GAMMA Investing LLC lifted its stake in shares of Pacific Gas & Electric by 11.0% in the 4th quarter. GAMMA Investing LLC now owns 16,409 shares of the utilities provider's stock valued at $264,000 after acquiring an additional 1,625 shares during the last quarter. 78.56% of the stock is currently owned by institutional investors.

Insider Activity at Pacific Gas & Electric

In related news, EVP Carla J. Peterman sold 31,786 shares of the firm's stock in a transaction dated Monday, March 16th. The shares were sold at an average price of $18.31, for a total value of $582,001.66. Following the transaction, the executive vice president owned 195,091 shares of the company's stock, valued at approximately $3,572,116.21. This trade represents a 14.01% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP John R. Simon sold 45,607 shares of the firm's stock in a transaction dated Thursday, February 19th. The shares were sold at an average price of $18.00, for a total transaction of $820,926.00. Following the completion of the transaction, the executive vice president directly owned 392,303 shares in the company, valued at approximately $7,061,454. The trade was a 10.41% decrease in their position. The SEC filing for this sale provides additional information. In the last quarter, insiders have sold 84,286 shares of company stock valued at $1,528,746. 0.15% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

PCG has been the subject of a number of recent research reports. JPMorgan Chase & Co. increased their price objective on Pacific Gas & Electric from $21.00 to $24.00 and gave the company an "overweight" rating in a report on Wednesday, March 18th. Weiss Ratings restated a "hold (c)" rating on shares of Pacific Gas & Electric in a report on Friday, March 27th. Wells Fargo & Company increased their price objective on Pacific Gas & Electric from $23.00 to $24.00 and gave the company an "overweight" rating in a report on Tuesday, January 20th. UBS Group upgraded Pacific Gas & Electric from a "neutral" rating to a "buy" rating in a report on Monday, March 9th. Finally, Morgan Stanley set a $23.00 price objective on Pacific Gas & Electric in a report on Friday, February 20th. Seven equities research analysts have rated the stock with a Buy rating, six have given a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, Pacific Gas & Electric currently has an average rating of "Hold" and an average price target of $21.27.

Pacific Gas & Electric Stock Performance

Shares of PCG opened at $17.70 on Tuesday. The company has a debt-to-equity ratio of 1.84, a current ratio of 0.97 and a quick ratio of 0.92. The stock has a 50-day moving average of $17.84 and a 200-day moving average of $16.54. The company has a market cap of $38.91 billion, a PE ratio of 15.00, a P/E/G ratio of 0.71 and a beta of 0.34. Pacific Gas & Electric Co. has a one year low of $12.97 and a one year high of $19.16.

Pacific Gas & Electric (NYSE:PCG - Get Free Report) last issued its earnings results on Wednesday, February 11th. The utilities provider reported $0.36 EPS for the quarter, meeting the consensus estimate of $0.36. Pacific Gas & Electric had a return on equity of 11.28% and a net margin of 10.84%.The company had revenue of $6.80 billion during the quarter, compared to the consensus estimate of $7.05 billion. During the same period last year, the business posted $0.31 EPS. On average, equities research analysts predict that Pacific Gas & Electric Co. will post 1.49 EPS for the current fiscal year.

Pacific Gas & Electric Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, April 15th. Investors of record on Tuesday, March 31st will be given a $0.05 dividend. The ex-dividend date of this dividend is Tuesday, March 31st. This represents a $0.20 annualized dividend and a yield of 1.1%. Pacific Gas & Electric's dividend payout ratio (DPR) is presently 16.95%.

Pacific Gas & Electric Company Profile

Pacific Gas & Electric NYSE: PCG is an investor-owned utility holding company whose principal operating subsidiary, Pacific Gas and Electric Company, provides electricity and natural gas service in northern and central California. The company's core activities include the generation, procurement, transmission and distribution of electric power, as well as the transmission and distribution of natural gas. PG&E serves a broad mix of residential, commercial, and industrial customers across urban and rural communities within its California service territory.

PG&E's operations encompass utility infrastructure planning and construction, grid operations, customer service and energy procurement.

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