Commerzbank Aktiengesellschaft FI Raises Stock Position in Pacific Gas & Electric Co. $PCG

Commerzbank Aktiengesellschaft FI grew its holdings in Pacific Gas & Electric Co. (NYSE:PCG) by 3.3% in the second quarter, HoldingsChannel.com reports. The institutional investor owned 34,867 shares of the utilities provider’s stock after acquiring an additional 1,099 shares during the period. Commerzbank Aktiengesellschaft FI’s holdings in Pacific Gas & Electric were worth $487,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also made changes to their positions in the company. Deseret Mutual Benefit Administrators lifted its holdings in shares of Pacific Gas & Electric by 45.0% in the 1st quarter. Deseret Mutual Benefit Administrators now owns 2,173 shares of the utilities provider’s stock worth $37,000 after acquiring an additional 674 shares during the last quarter. Farther Finance Advisors LLC lifted its holdings in shares of Pacific Gas & Electric by 1.9% in the 1st quarter. Farther Finance Advisors LLC now owns 42,747 shares of the utilities provider’s stock worth $738,000 after acquiring an additional 785 shares during the last quarter. Oregon Public Employees Retirement Fund lifted its holdings in shares of Pacific Gas & Electric by 0.5% in the 1st quarter. Oregon Public Employees Retirement Fund now owns 188,411 shares of the utilities provider’s stock worth $3,237,000 after acquiring an additional 1,010 shares during the last quarter. Allworth Financial LP lifted its holdings in shares of Pacific Gas & Electric by 0.4% in the 1st quarter. Allworth Financial LP now owns 272,916 shares of the utilities provider’s stock worth $4,746,000 after acquiring an additional 1,173 shares during the last quarter. Finally, Financial Network Wealth Advisors LLC lifted its holdings in shares of Pacific Gas & Electric by 57.7% in the 1st quarter. Financial Network Wealth Advisors LLC now owns 3,445 shares of the utilities provider’s stock worth $59,000 after acquiring an additional 1,260 shares during the last quarter. 78.56% of the stock is owned by hedge funds and other institutional investors.

Pacific Gas & Electric Trading Down 2.4%

Shares of PCG opened at $15.86 on Friday. Pacific Gas & Electric Co. has a 1-year low of $12.97 and a 1-year high of $21.72. The company has a 50-day moving average of $15.25 and a 200 day moving average of $15.51. The firm has a market capitalization of $42.42 billion, a price-to-earnings ratio of 14.55, a PEG ratio of 1.21 and a beta of 0.58. The company has a debt-to-equity ratio of 1.81, a current ratio of 0.94 and a quick ratio of 0.89.

Pacific Gas & Electric (NYSE:PCG) last announced its quarterly earnings data on Monday, May 15th. The utilities provider reported $0.30 earnings per share for the quarter. Pacific Gas & Electric had a net margin of 9.95% and a return on equity of 10.13%. The company had revenue of $5.80 billion during the quarter. On average, research analysts expect that Pacific Gas & Electric Co. will post 1.49 EPS for the current year.

Pacific Gas & Electric Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, October 15th. Stockholders of record on Tuesday, September 30th will be issued a $0.025 dividend. The ex-dividend date is Tuesday, September 30th. This represents a $0.10 annualized dividend and a dividend yield of 0.6%. Pacific Gas & Electric’s payout ratio is currently 9.17%.

Wall Street Analyst Weigh In

Several equities research analysts have recently issued reports on PCG shares. UBS Group lowered their target price on shares of Pacific Gas & Electric from $19.00 to $17.00 and set a “neutral” rating for the company in a report on Thursday, September 18th. Weiss Ratings restated a “hold (c-)” rating on shares of Pacific Gas & Electric in a report on Wednesday. Zacks Research upgraded shares of Pacific Gas & Electric from a “strong sell” rating to a “hold” rating in a report on Monday, August 18th. Argus upgraded shares of Pacific Gas & Electric to a “hold” rating in a report on Monday, June 16th. Finally, Morgan Stanley decreased their price objective on shares of Pacific Gas & Electric from $20.00 to $19.50 and set an “equal weight” rating for the company in a report on Thursday, September 25th. Six research analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the stock. According to MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $20.05.

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.