Diversify Advisory Services LLC bought a new stake in Pacific Gas & Electric Co. (NYSE:PCG – Free Report) during the second quarter, HoldingsChannel reports. The firm bought 56,945 shares of the utilities provider’s stock, valued at approximately $1,002,000.
A number of other institutional investors have also modified their holdings of PCG. Dynamic Technology Lab Private Ltd bought a new position in shares of Pacific Gas & Electric during the first quarter worth about $203,000. Empowered Funds LLC increased its holdings in Pacific Gas & Electric by 16.4% in the first quarter. Empowered Funds LLC now owns 46,936 shares of the utilities provider’s stock valued at $806,000 after buying an additional 6,601 shares during the last quarter. Woodline Partners LP raised its stake in Pacific Gas & Electric by 41.2% during the first quarter. Woodline Partners LP now owns 185,324 shares of the utilities provider’s stock valued at $3,184,000 after buying an additional 54,033 shares in the last quarter. Focus Partners Wealth raised its stake in Pacific Gas & Electric by 93.0% during the first quarter. Focus Partners Wealth now owns 83,816 shares of the utilities provider’s stock valued at $1,440,000 after buying an additional 40,380 shares in the last quarter. Finally, BI Asset Management Fondsmaeglerselskab A S raised its stake in Pacific Gas & Electric by 499.7% during the second quarter. BI Asset Management Fondsmaeglerselskab A S now owns 433,064 shares of the utilities provider’s stock valued at $6,037,000 after buying an additional 360,845 shares in the last quarter. Institutional investors and hedge funds own 78.56% of the company’s stock.
Insider Activity
In related news, EVP Marlene Santos sold 158,250 shares of the firm’s stock in a transaction that occurred on Wednesday, July 22nd. The stock was sold at an average price of $18.00, for a total value of $2,848,500.00. Following the sale, the executive vice president owned 230,885 shares of the company’s stock, valued at approximately $4,155,930. This trade represents a 40.67% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Company insiders own 0.22% of the company’s stock.
Pacific Gas & Electric Price Performance
Pacific Gas & Electric (NYSE:PCG – Get Free Report) last issued its earnings results on Thursday, July 23rd. The utilities provider reported $0.40 EPS for the quarter, beating analysts’ consensus estimates of $0.36 by $0.04. The company had revenue of $5.90 billion during the quarter, compared to the consensus estimate of $6.20 billion. Pacific Gas & Electric had a return on equity of 12.48% and a net margin of 12.25%.Pacific Gas & Electric’s quarterly revenue was up .1% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.31 earnings per share. Pacific Gas & Electric has set its FY 2026 guidance at 1.640-1.660 EPS. As a group, sell-side analysts expect that Pacific Gas & Electric Co. will post 1.65 earnings per share for the current year.
Analyst Ratings Changes
Several brokerages have recently commented on PCG. JPMorgan Chase & Co. decreased their target price on Pacific Gas & Electric from $24.00 to $23.00 and set an “overweight” rating for the company in a research report on Friday, May 15th. Weiss Ratings lowered Pacific Gas & Electric from a “hold (c+)” rating to a “hold (c)” rating in a research report on Thursday, June 4th. UBS Group restated a “buy” rating on shares of Pacific Gas & Electric in a research note on Tuesday. Wall Street Zen downgraded shares of Pacific Gas & Electric from a “buy” rating to a “hold” rating in a report on Saturday, July 25th. Finally, BMO Capital Markets decreased their price objective on shares of Pacific Gas & Electric from $28.00 to $27.00 and set an “outperform” rating for the company in a report on Friday, July 24th. Seven research analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $22.20.
View Our Latest Report on Pacific Gas & Electric
About Pacific Gas & Electric
Pacific Gas & Electric (NYSE: PCG) is an investor-owned utility holding company whose principal operating subsidiary, Pacific Gas and Electric Company, provides electricity and natural gas service in northern and central California. The company’s core activities include the generation, procurement, transmission and distribution of electric power, as well as the transmission and distribution of natural gas. PG&E serves a broad mix of residential, commercial, and industrial customers across urban and rural communities within its California service territory.
PG&E’s operations encompass utility infrastructure planning and construction, grid operations, customer service and energy procurement.
Featured Stories
- Five stocks we like better than Pacific Gas & Electric
- Bloom Energy’s AI Surge Meets a Valuation Reality Check
- Target Is Winning Shoppers Back—Can the Rally Reach $180?
- IonQ’s Space Contract Points to a New Frontier for Quantum Investors
- Is Apple’s AI Strategy Smarter Than Skeptics Think?
Want to see what other hedge funds are holding PCG? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Pacific Gas & Electric Co. (NYSE:PCG – Free Report).
Receive News & Ratings for Pacific Gas & Electric Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Pacific Gas & Electric and related companies with MarketBeat.com's FREE daily email newsletter.
