Quinn Opportunity Partners LLC Has $13.39 Million Holdings in Pacific Gas & Electric Co. $PCG

Quinn Opportunity Partners LLC boosted its holdings in shares of Pacific Gas & Electric Co. (NYSE:PCG) by 510.0% in the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 960,456 shares of the utilities provider’s stock after purchasing an additional 803,000 shares during the period. Pacific Gas & Electric accounts for approximately 1.1% of Quinn Opportunity Partners LLC’s holdings, making the stock its 18th largest holding. Quinn Opportunity Partners LLC’s holdings in Pacific Gas & Electric were worth $13,389,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of PCG. Vanguard Group Inc. raised its position in shares of Pacific Gas & Electric by 1.2% during the first quarter. Vanguard Group Inc. now owns 257,285,352 shares of the utilities provider’s stock worth $4,420,162,000 after acquiring an additional 2,926,384 shares during the last quarter. Northern Trust Corp lifted its position in Pacific Gas & Electric by 4.3% during the 1st quarter. Northern Trust Corp now owns 19,944,322 shares of the utilities provider’s stock valued at $342,643,000 after purchasing an additional 818,377 shares during the period. Canada Pension Plan Investment Board raised its holdings in Pacific Gas & Electric by 352.3% during the 1st quarter. Canada Pension Plan Investment Board now owns 19,172,519 shares of the utilities provider’s stock worth $329,384,000 after buying an additional 14,933,364 shares during the period. Sessa Capital IM L.P. bought a new position in Pacific Gas & Electric in the first quarter valued at approximately $320,984,000. Finally, AQR Capital Management LLC boosted its holdings in shares of Pacific Gas & Electric by 317.2% in the first quarter. AQR Capital Management LLC now owns 16,464,333 shares of the utilities provider’s stock valued at $280,305,000 after buying an additional 12,518,011 shares during the period. 78.56% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of brokerages recently commented on PCG. Zacks Research upgraded shares of Pacific Gas & Electric from a “strong sell” rating to a “hold” rating in a report on Monday, August 18th. Wall Street Zen downgraded Pacific Gas & Electric from a “buy” rating to a “hold” rating in a research note on Sunday. BMO Capital Markets upped their price objective on Pacific Gas & Electric from $23.00 to $25.00 and gave the stock an “outperform” rating in a research report on Tuesday, October 14th. Cowen started coverage on Pacific Gas & Electric in a research report on Wednesday, October 15th. They issued a “buy” rating on the stock. Finally, Morgan Stanley set a $21.00 price target on shares of Pacific Gas & Electric and gave the stock an “outperform” rating in a research note on Wednesday, October 22nd. Two research analysts have rated the stock with a Strong Buy rating, seven have given a Buy rating and six have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $20.64.

Pacific Gas & Electric Stock Up 0.2%

Pacific Gas & Electric stock opened at $16.59 on Wednesday. The company has a debt-to-equity ratio of 1.81, a current ratio of 0.94 and a quick ratio of 0.89. The company’s 50-day moving average is $15.76 and its 200-day moving average is $15.38. The firm has a market capitalization of $36.46 billion, a PE ratio of 13.94, a P/E/G ratio of 0.66 and a beta of 0.59. Pacific Gas & Electric Co. has a fifty-two week low of $12.97 and a fifty-two week high of $21.72.

Pacific Gas & Electric (NYSE:PCG) last announced its quarterly earnings results on Monday, May 15th. The utilities provider reported $0.30 earnings per share for the quarter. The firm had revenue of $5.80 billion for the quarter. Pacific Gas & Electric had a return on equity of 11.10% and a net margin of 10.93%. Sell-side analysts anticipate that Pacific Gas & Electric Co. will post 1.49 earnings per share for the current year.

Pacific Gas & Electric Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, October 15th. Stockholders of record on Tuesday, September 30th were given a $0.025 dividend. The ex-dividend date of this dividend was Tuesday, September 30th. This represents a $0.10 annualized dividend and a dividend yield of 0.6%. Pacific Gas & Electric’s dividend payout ratio is presently 8.40%.

Insider Activity

In related news, Director John O. Larsen bought 7,500 shares of the business’s stock in a transaction dated Tuesday, November 4th. The stock was bought at an average price of $15.96 per share, for a total transaction of $119,700.00. Following the purchase, the director owned 18,111 shares in the company, valued at $289,051.56. This represents a 70.68% increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 0.14% of the company’s stock.

About Pacific Gas & Electric

PG&E Corp. operates as a holding company, which engages in generation, transmission, and distribution of electricity and natural gas to customers. It specializes in energy, utility, power, gas, electricity, solar and sustainability. The company was founded in 1995 and is headquartered in Oakland, CA.