Man Group plc purchased a new stake in shares of Pacific Gas & Electric Co. (NYSE:PCG – Free Report) during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund purchased 11,207,670 shares of the utilities provider’s stock, valued at approximately $188,513,000. Man Group plc owned about 0.42% of Pacific Gas & Electric at the end of the most recent quarter.
Several other hedge funds and other institutional investors have also made changes to their positions in the business. EFG International AG bought a new position in Pacific Gas & Electric in the 2nd quarter worth approximately $1,383,000. Primecap Management Co. CA acquired a new stake in Pacific Gas & Electric in the 2nd quarter valued at approximately $12,896,000. Canada Pension Plan Investment Board bought a new stake in Pacific Gas & Electric during the 2nd quarter valued at $320,820,000. Legal & General Group Plc bought a new stake in Pacific Gas & Electric during the 2nd quarter valued at $398,915,000. Finally, Paradigm Capital Management LLC NV acquired a new position in Pacific Gas & Electric during the 2nd quarter worth $224,000. 78.56% of the stock is currently owned by institutional investors and hedge funds.
Insider Buying and Selling at Pacific Gas & Electric
In other news, EVP Marlene Santos sold 158,250 shares of the firm’s stock in a transaction dated Wednesday, July 22nd. The shares were sold at an average price of $18.00, for a total transaction of $2,848,500.00. Following the completion of the transaction, the executive vice president owned 230,885 shares in the company, valued at approximately $4,155,930. This trade represents a 40.67% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Company insiders own 0.22% of the company’s stock.
Analyst Ratings Changes
Read Our Latest Stock Report on PCG
Pacific Gas & Electric Trading Up 1.2%
Shares of Pacific Gas & Electric stock opened at $18.33 on Wednesday. The business has a fifty day simple moving average of $17.34 and a 200-day simple moving average of $17.31. Pacific Gas & Electric Co. has a fifty-two week low of $14.34 and a fifty-two week high of $19.16. The firm has a market cap of $49.12 billion, a price-to-earnings ratio of 13.28, a price-to-earnings-growth ratio of 1.18 and a beta of 0.28. The company has a quick ratio of 1.15, a current ratio of 1.22 and a debt-to-equity ratio of 1.90.
Pacific Gas & Electric (NYSE:PCG – Get Free Report) last released its earnings results on Thursday, July 23rd. The utilities provider reported $0.40 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.36 by $0.04. Pacific Gas & Electric had a return on equity of 12.48% and a net margin of 12.25%.The firm had revenue of $5.90 billion for the quarter, compared to analyst estimates of $6.20 billion. During the same period in the previous year, the company earned $0.31 earnings per share. Pacific Gas & Electric’s revenue was up .1% compared to the same quarter last year. Pacific Gas & Electric has set its FY 2026 guidance at 1.640-1.660 EPS. On average, equities analysts forecast that Pacific Gas & Electric Co. will post 1.65 EPS for the current fiscal year.
Pacific Gas & Electric Profile
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.
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