Teachers Retirement System of The State of Kentucky reduced its holdings in shares of Pacific Gas & Electric Co. (NYSE:PCG) by 3.4% in the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 56,000 shares of the utilities provider’s stock after selling 2,000 shares during the quarter. Teachers Retirement System of The State of Kentucky’s holdings in Pacific Gas & Electric Co. were worth $3,717,000 at the end of the most recent reporting period.

Other hedge funds have also made changes to their positions in the company. Harbour Capital Advisors LLC bought a new position in Pacific Gas & Electric Co. in the first quarter valued at about $100,000. Oppenheimer Asset Management Inc. bought a new position in Pacific Gas & Electric Co. in the first quarter valued at about $118,000. Guardian Life Insurance Co. of America raised its position in Pacific Gas & Electric Co. by 1.1% in the first quarter. Guardian Life Insurance Co. of America now owns 1,958 shares of the utilities provider’s stock valued at $130,000 after purchasing an additional 21 shares during the last quarter. Investment Centers of America Inc. bought a new position in Pacific Gas & Electric Co. in the first quarter valued at about $212,000. Finally, Point72 Asia Hong Kong Ltd raised its position in Pacific Gas & Electric Co. by 416.6% in the first quarter. Point72 Asia Hong Kong Ltd now owns 3,477 shares of the utilities provider’s stock valued at $231,000 after purchasing an additional 2,804 shares during the last quarter. Institutional investors and hedge funds own 80.91% of the company’s stock.

PCG has been the subject of several research reports. BidaskClub upgraded Pacific Gas & Electric Co. from a “hold” rating to a “buy” rating in a research report on Tuesday, August 22nd. ValuEngine upgraded Pacific Gas & Electric Co. from a “hold” rating to a “buy” rating in a research report on Friday, September 1st. Barclays PLC increased their target price on Pacific Gas & Electric Co. from $69.00 to $72.00 and gave the company an “overweight” rating in a research report on Friday, September 22nd. Jefferies Group LLC reiterated a “buy” rating and issued a $76.00 target price on shares of Pacific Gas & Electric Co. in a research report on Sunday, July 30th. Finally, Goldman Sachs Group, Inc. (The) reiterated a “buy” rating on shares of Pacific Gas & Electric Co. in a research report on Tuesday, June 27th. Five analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. The stock currently has an average rating of “Buy” and a consensus target price of $70.30.

In related news, Director Roger H. Kimmel bought 4,000 shares of the stock in a transaction dated Tuesday, September 5th. The stock was bought at an average price of $69.68 per share, with a total value of $278,720.00. The acquisition was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, SVP Julie Kane sold 2,233 shares of the business’s stock in a transaction dated Monday, August 14th. The shares were sold at an average price of $68.98, for a total value of $154,032.34. Following the completion of the sale, the senior vice president now directly 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 three months, insiders sold 4,915 shares of company stock valued at $340,377. 0.15% of the stock is currently owned by corporate insiders.

Shares of Pacific Gas & Electric Co. (NYSE PCG) opened at 68.09 on Friday. The firm has a market cap of $34.92 billion, a PE ratio of 16.79 and a beta of 0.22. Pacific Gas & Electric Co. has a 52 week low of $57.60 and a 52 week high of $71.57. The stock has a 50 day moving average price of $69.61 and a 200 day moving average price of $67.68.

Pacific Gas & Electric Co. (NYSE:PCG) last released its earnings results on Thursday, July 27th. The utilities provider reported $0.86 earnings per share for the quarter, beating analysts’ consensus estimates of $0.79 by $0.07. Pacific Gas & Electric Co. had a return on equity of 11.63% and a net margin of 11.48%. The company had revenue of $4.25 billion during the quarter, compared to analyst estimates of $4.34 billion. During the same quarter in the previous year, the company posted $0.66 EPS. Pacific Gas & Electric Co.’s revenue for the quarter was up 1.9% on a year-over-year basis. Equities analysts expect that Pacific Gas & Electric Co. will post $3.68 earnings per share for the current year.

The business also recently announced a quarterly dividend, which will be paid on Sunday, October 15th. Stockholders of record on Friday, September 29th will be paid a $0.53 dividend. This represents a $2.12 dividend on an annualized basis and a dividend yield of 3.11%. The ex-dividend date is Thursday, September 28th. Pacific Gas & Electric Co.’s dividend payout ratio (DPR) is presently 52.35%.

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About Pacific Gas & Electric Co.

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.

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

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