Pacific Gas & Electric Co. $PCG Stock: Fulcrum Asset Management LLP Boosts Stake

Fulcrum Asset Management LLP boosted its position in Pacific Gas & Electric Co. (NYSE:PCG) by 4,794.5% during the third quarter, Holdings Channel reports. The institutional investor owned 185,795 shares of the utilities provider’s stock after purchasing an additional 181,999 shares during the quarter. Fulcrum Asset Management LLP’s holdings in Pacific Gas & Electric were worth $2,263,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also bought and sold shares of the company. Keating Financial Advisory Services Inc. bought a new stake in Pacific Gas & Electric in the 2nd quarter valued at approximately $28,000. Transamerica Financial Advisors LLC bought a new position in shares of Pacific Gas & Electric during the 2nd quarter worth approximately $57,000. CoreCap Advisors LLC grew its stake in shares of Pacific Gas & Electric by 13.1% during the 2nd quarter. CoreCap Advisors LLC now owns 5,843 shares of the utilities provider’s stock worth $98,000 after acquiring an additional 677 shares in the last quarter. Versant Capital Management Inc grew its stake in shares of Pacific Gas & Electric by 19.6% during the 2nd quarter. Versant Capital Management Inc now owns 6,636 shares of the utilities provider’s stock worth $112,000 after acquiring an additional 1,088 shares in the last quarter. Finally, Glenview Trust Co bought a new stake in shares of Pacific Gas & Electric in the second quarter worth $208,000. Institutional investors and hedge funds own 78.56% of the company’s stock.

Pacific Gas & Electric Stock Up 0.7%

PCG stock opened at $13.23 on Wednesday. The company has a market cap of $35.47 billion, a price-to-earnings ratio of 9.80, a P/E/G ratio of 1.05 and a beta of 0.17. Pacific Gas & Electric Co. has a twelve month low of $11.77 and a twelve month high of $19.16. The business has a 50 day moving average price of $13.09 and a two-hundred day moving average price of $16.15. The company has a quick ratio of 0.97, a current ratio of 1.03 and a debt-to-equity ratio of 1.85.

Pacific Gas & Electric (NYSE:PCG) last announced its quarterly earnings data on Thursday, October 22nd. The utilities provider reported $0.41 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.42 by ($0.01). Pacific Gas & Electric had a return on equity of 11.49% and a net margin of 12.00%. The company had revenue of $6.19 billion for the quarter, compared to the consensus estimate of $6.82 billion. During the same quarter in the prior year, the company earned $0.50 EPS. The company’s revenue for the quarter was down 1.0% on a year-over-year basis. Analysts anticipate that Pacific Gas & Electric Co. will post 1.65 EPS for the current fiscal year.

Pacific Gas & Electric Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, October 15th. Investors of record on Wednesday, September 30th were paid a $0.05 dividend. The ex-dividend date of this dividend was Wednesday, September 30th. This represents a $0.20 annualized dividend and a dividend yield of 1.5%. Pacific Gas & Electric’s dividend payout ratio (DPR) is currently 14.81%.

Wall Street Analyst Weigh In

Several research analysts recently commented on PCG shares. UBS Group increased their target price on shares of Pacific Gas & Electric from $14.00 to $15.00 and gave the stock a “neutral” rating in a report on Friday, October 30th. Wall Street Zen lowered shares of Pacific Gas & Electric from a “buy” rating to a “hold” rating in a research note on Saturday, July 25th. HSBC began coverage on shares of Pacific Gas & Electric in a research report on Thursday, October 22nd. They set a “buy” rating and a $15.50 price target on the stock. Morgan Stanley increased their price objective on shares of Pacific Gas & Electric from $20.00 to $21.00 and gave the stock an “equal weight” rating in a research note on Wednesday, October 21st. Finally, Wells Fargo & Company decreased their price objective on Pacific Gas & Electric from $24.00 to $14.00 and set an “equal weight” rating for the company in a report on Friday, October 23rd. Seven analysts have rated the stock with a Buy rating and nine have given a Hold rating to the company. According to MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $17.21.

Insiders Place Their Bets

In other news, Director John Larsen bought 7,500 shares of the stock in a transaction that occurred on Wednesday, September 30th. The shares were acquired at an average cost of $12.20 per share, for a total transaction of $91,500.00. Following the completion of the acquisition, the director owned 36,685 shares in the company, valued at approximately $447,557. This represents a 25.70% increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director William Fugate sold 6,500 shares of the company’s stock in a transaction on Friday, September 4th. The stock was sold at an average price of $13.76, for a total transaction of $89,440.00. Following the sale, the director directly owned 73,530 shares in the company, valued at $1,011,772.80. This trade represents a 8.12% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 0.22% of the stock is currently owned by insiders.

About Pacific Gas & Electric

Pacific Gas and Electric Company (PG&E) is a regulated utility that provides electricity and natural gas to homes and businesses in Northern and Central California. Its services include generating, purchasing, transmitting and distributing electricity, as well as delivering natural gas through its pipeline network. The utility is a subsidiary of PG&E Corporation, whose common stock trades on the New York Stock Exchange under the symbol PCG. The company traces its roots to California’s early gas and electric utilities and was incorporated in 1905.