Transcend Capital Advisors LLC Has $736,000 Stake in Pacific Gas & Electric Co. $PCG

Transcend Capital Advisors LLC raised its holdings in Pacific Gas & Electric Co. (NYSE:PCG) by 238.1% in the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 48,783 shares of the utilities provider’s stock after purchasing an additional 34,353 shares during the period. Transcend Capital Advisors LLC’s holdings in Pacific Gas & Electric were worth $736,000 at the end of the most recent quarter.

Several other hedge funds also recently made changes to their positions in the business. Root Financial Partners LLC acquired a new stake in Pacific Gas & Electric during the third quarter worth approximately $27,000. Versant Capital Management Inc increased its position in shares of Pacific Gas & Electric by 826.2% in the third quarter. Versant Capital Management Inc now owns 1,945 shares of the utilities provider’s stock worth $29,000 after purchasing an additional 1,735 shares during the period. Quent Capital LLC acquired a new position in Pacific Gas & Electric in the third quarter valued at about $44,000. Sentry Investment Management LLC bought a new stake in Pacific Gas & Electric during the second quarter worth about $96,000. Finally, Covestor Ltd lifted its position in Pacific Gas & Electric by 20.6% during the third quarter. Covestor Ltd now owns 9,029 shares of the utilities provider’s stock worth $136,000 after purchasing an additional 1,544 shares during the period. 78.56% of the stock is owned by institutional investors.

Pacific Gas & Electric Price Performance

PCG stock opened at $15.10 on Tuesday. The company has a quick ratio of 0.89, a current ratio of 0.94 and a debt-to-equity ratio of 1.81. The firm has a market cap of $33.18 billion, a price-to-earnings ratio of 12.68, a PEG ratio of 0.59 and a beta of 0.36. The company’s fifty day simple moving average is $15.56 and its 200 day simple moving average is $15.48. Pacific Gas & Electric Co. has a 12-month low of $12.97 and a 12-month high of $17.95.

Pacific Gas & Electric Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, January 15th. Shareholders of record on Wednesday, December 31st were paid a $0.05 dividend. This represents a $0.20 annualized dividend and a yield of 1.3%. This is a boost from Pacific Gas & Electric’s previous quarterly dividend of $0.03. The ex-dividend date of this dividend was Wednesday, December 31st. Pacific Gas & Electric’s payout ratio is presently 16.81%.

Analyst Ratings Changes

Several equities analysts have recently commented on the stock. UBS Group boosted their target price on shares of Pacific Gas & Electric from $17.00 to $18.00 and gave the company a “neutral” rating in a research report on Friday, October 24th. Weiss Ratings restated a “hold (c)” rating on shares of Pacific Gas & Electric in a research note on Monday, December 29th. Wall Street Zen raised Pacific Gas & Electric from a “hold” rating to a “buy” rating in a report on Saturday, January 17th. BMO Capital Markets boosted their price target on Pacific Gas & Electric from $23.00 to $25.00 and gave the stock an “outperform” rating in a report on Tuesday, October 14th. Finally, 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 research report on Friday, December 12th. Seven research analysts have rated the stock with a Buy rating, six have assigned a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, Pacific Gas & Electric currently has an average rating of “Hold” and an average target price of $20.55.

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.