SG Americas Securities LLC Trims Position in Pacific Gas & Electric Co. $PCG

SG Americas Securities LLC reduced its position in Pacific Gas & Electric Co. (NYSE:PCG) by 99.1% in the 3rd quarter, according to its most recent filing with the SEC. The firm owned 16,089 shares of the utilities provider’s stock after selling 1,874,668 shares during the period. SG Americas Securities LLC’s holdings in Pacific Gas & Electric were worth $243,000 at the end of the most recent reporting period.

Other institutional investors also recently bought and sold shares of the company. Dynamic Technology Lab Private Ltd acquired a new stake in shares of Pacific Gas & Electric during the first quarter worth $203,000. Empowered Funds LLC boosted its stake in Pacific Gas & Electric by 16.4% in the 1st quarter. Empowered Funds LLC now owns 46,936 shares of the utilities provider’s stock worth $806,000 after buying an additional 6,601 shares during the last quarter. Woodline Partners LP grew its holdings in Pacific Gas & Electric by 41.2% in the 1st quarter. Woodline Partners LP now owns 185,324 shares of the utilities provider’s stock valued at $3,184,000 after buying an additional 54,033 shares during the period. Focus Partners Wealth grew its holdings in Pacific Gas & Electric by 93.0% in the 1st quarter. Focus Partners Wealth now owns 83,816 shares of the utilities provider’s stock valued at $1,440,000 after buying an additional 40,380 shares during the period. Finally, Commerzbank Aktiengesellschaft FI increased its stake in shares of Pacific Gas & Electric by 3.3% during the 2nd quarter. Commerzbank Aktiengesellschaft FI now owns 34,867 shares of the utilities provider’s stock valued at $487,000 after acquiring an additional 1,099 shares during the last quarter. 78.56% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several equities research analysts recently issued reports on the stock. Wall Street Zen raised shares of Pacific Gas & Electric from a “hold” rating to a “buy” rating in a research report on Saturday, January 17th. Weiss Ratings reiterated a “hold (c)” rating on shares of Pacific Gas & Electric in a report on Monday, December 29th. JPMorgan Chase & Co. dropped their price objective on Pacific Gas & Electric from $22.00 to $21.00 and set an “overweight” rating for the company in a report on Friday, December 12th. Jefferies Financial Group increased their target price on Pacific Gas & Electric from $20.00 to $21.00 and gave the stock a “buy” rating in a research report on Wednesday, October 22nd. Finally, Mizuho set a $21.00 price target on Pacific Gas & Electric in a research report on Wednesday, January 21st. Seven research analysts have rated the stock with a Buy rating, six have issued a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $20.64.

Insider Activity

In related news, Director John O. Larsen bought 7,500 shares of the company’s stock in a transaction that occurred on Tuesday, November 4th. The shares were acquired at an average cost of $15.96 per share, for a total transaction of $119,700.00. Following the acquisition, the director owned 18,111 shares in the company, valued at $289,051.56. This represents a 70.68% increase in their position. The purchase was disclosed in a filing with the SEC, which can be accessed through this link. Company insiders own 0.15% of the company’s stock.

Pacific Gas & Electric Stock Performance

Shares of PCG stock opened at $15.16 on Wednesday. The company has a current ratio of 0.94, a quick ratio of 0.89 and a debt-to-equity ratio of 1.81. The company has a market cap of $33.33 billion, a PE ratio of 12.74, a P/E/G ratio of 0.58 and a beta of 0.38. The company’s fifty day simple moving average is $15.62 and its 200-day simple moving average is $15.42. Pacific Gas & Electric Co. has a 52 week low of $12.97 and a 52 week high of $17.95.

Pacific Gas & Electric Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, January 15th. Stockholders of record on Wednesday, December 31st were given a $0.05 dividend. The ex-dividend date of this dividend was Wednesday, December 31st. This is a positive change from Pacific Gas & Electric’s previous quarterly dividend of $0.03. This represents a $0.20 annualized dividend and a dividend yield of 1.3%. Pacific Gas & Electric’s dividend payout ratio (DPR) is currently 16.81%.

About Pacific Gas & Electric

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.