Ameriprise Financial Inc. decreased its stake in shares of Pacific Gas & Electric Co. (NYSE:PCG) by 30.7% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 2,988,626 shares of the utilities provider’s stock after selling 1,323,434 shares during the period. Ameriprise Financial Inc. owned 0.58% of Pacific Gas & Electric Co. worth $198,384,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently modified their holdings of PCG. Harbour Capital Advisors LLC acquired a new position in Pacific Gas & Electric Co. during the 1st quarter worth about $100,000. Oppenheimer Asset Management Inc. acquired a new position in Pacific Gas & Electric Co. during the 1st quarter worth about $118,000. Assetmark Inc. lifted its position in Pacific Gas & Electric Co. by 8.8% during the 1st quarter. Assetmark Inc. now owns 1,949 shares of the utilities provider’s stock worth $129,000 after buying an additional 157 shares in the last quarter. Guardian Life Insurance Co. of America lifted its position in Pacific Gas & Electric Co. by 1.1% during the 1st quarter. Guardian Life Insurance Co. of America now owns 1,958 shares of the utilities provider’s stock worth $130,000 after buying an additional 21 shares in the last quarter. Finally, Shepherd Financial Partners LLC acquired a new position in Pacific Gas & Electric Co. during the 1st quarter valued at about $201,000. Institutional investors and hedge funds own 80.92% of the company’s stock.

Shares of Pacific Gas & Electric Co. (PCG) opened at 70.16 on Friday. The company’s 50-day moving average price is $69.42 and its 200-day moving average price is $67.58. Pacific Gas & Electric Co. has a 1-year low of $57.60 and a 1-year high of $71.57. The company has a market capitalization of $35.98 billion, a PE ratio of 17.30 and a beta of 0.22.

Pacific Gas & Electric Co. (NYSE:PCG) last released its quarterly earnings data on Thursday, July 27th. The utilities provider reported $0.86 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.79 by $0.07. The firm had revenue of $4.25 billion during the quarter, compared to the consensus estimate of $4.34 billion. Pacific Gas & Electric Co. had a return on equity of 11.63% and a net margin of 11.48%. The company’s quarterly revenue was up 1.9% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.66 earnings per share. On average, equities analysts expect that Pacific Gas & Electric Co. will post $3.67 earnings per share for the current fiscal year.

PCG has been the topic of a number of research reports. Goldman Sachs Group, Inc. (The) restated a “buy” rating on shares of Pacific Gas & Electric Co. in a research report on Tuesday, June 27th. Royal Bank Of Canada set a $70.00 target price on shares of Pacific Gas & Electric Co. and gave the company a “buy” rating in a research report on Saturday, June 3rd. Mizuho restated a “buy” rating and set a $74.00 target price on shares of Pacific Gas & Electric Co. in a research report on Thursday, July 13th. ValuEngine upgraded shares of Pacific Gas & Electric Co. from a “hold” rating to a “buy” rating in a research report on Friday, September 1st. Finally, BidaskClub upgraded shares of Pacific Gas & Electric Co. from a “hold” rating to a “buy” rating in a research report on Tuesday, August 22nd. Five equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. The company presently has a consensus rating of “Buy” and a consensus target price of $69.60.

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In other news, Director Roger H. Kimmel acquired 4,000 shares of the firm’s stock in a transaction dated Tuesday, September 5th. The stock was purchased at an average price of $69.68 per share, for a total transaction of $278,720.00. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, SVP Julie Kane sold 2,233 shares of the business’s stock in a transaction that occurred on Monday, August 14th. The shares were sold at an average price of $68.98, for a total value of $154,032.34. Following the sale, the senior vice president now owns 10,751 shares of the company’s stock, valued at approximately $741,603.98. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 4,915 shares of company stock valued at $340,377. Corporate insiders own 0.15% of the company’s stock.

Pacific Gas & Electric Co. Company Profile

PG&E Corporation is a holding company. The Company’s primary operating subsidiary is Pacific Gas and Electric Company (the Utility), which operates in northern and central California. The Utility is engaged in the sale and delivery of electricity and natural gas to customers. The Utility generates electricity and provides electricity transmission and distribution services throughout its service territory in northern and central California to residential, commercial, industrial, and agricultural customers.

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Institutional Ownership by Quarter for Pacific Gas & Electric Co. (NYSE:PCG)

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