Pacific Gas & Electric Co. (NYSE:PCG – Get Free Report) shares saw strong trading volume on Friday . 54,372,800 shares were traded during trading, an increase of 150% from the previous session’s volume of 21,713,076 shares.The stock last traded at $16.21 and had previously closed at $17.95.
Analyst Ratings Changes
A number of brokerages have weighed in on PCG. JPMorgan Chase & Co. cut their price target on shares of Pacific Gas & Electric from $24.00 to $23.00 and set an “overweight” rating for the company in a report on Friday, May 15th. BMO Capital Markets dropped their target price on shares of Pacific Gas & Electric from $28.00 to $27.00 and set an “outperform” rating on the stock in a report on Friday, July 24th. 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. UBS Group restated a “buy” rating on shares of Pacific Gas & Electric in a research report on Tuesday, August 18th. Finally, Weiss Ratings downgraded Pacific Gas & Electric from a “hold (c+)” rating to a “hold (c)” rating in a research report on Thursday, June 4th. Seven investment analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $22.20.
Check Out Our Latest Stock Report on Pacific Gas & Electric
Pacific Gas & Electric Price Performance
Pacific Gas & Electric (NYSE:PCG – Get Free Report) last posted its quarterly earnings data on Thursday, July 23rd. The utilities provider reported $0.40 EPS for the quarter, beating analysts’ consensus estimates of $0.36 by $0.04. Pacific Gas & Electric had a net margin of 12.25% and a return on equity of 12.48%. The company had revenue of $5.90 billion during the quarter, compared to analyst estimates of $6.20 billion. During the same period in the prior year, the firm earned $0.31 earnings per share. The business’s quarterly revenue was up .1% on a year-over-year basis. Pacific Gas & Electric has set its FY 2026 guidance at 1.640-1.660 EPS. Equities analysts anticipate that Pacific Gas & Electric Co. will post 1.65 EPS for the current year.
Insider Activity
In related news, EVP Marlene Santos sold 158,250 shares of the company’s stock in a transaction that occurred on Wednesday, July 22nd. The shares were sold at an average price of $18.00, for a total value of $2,848,500.00. Following the completion of the sale, the executive vice president owned 230,885 shares in the company, valued at approximately $4,155,930. This represents a 40.67% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 0.22% of the stock is owned by corporate insiders.
Hedge Funds Weigh In On Pacific Gas & Electric
Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Dynamic Technology Lab Private Ltd acquired a new stake in Pacific Gas & Electric during the 1st quarter valued at $203,000. Empowered Funds LLC boosted its position in shares of Pacific Gas & Electric by 16.4% in the first quarter. Empowered Funds LLC now owns 46,936 shares of the utilities provider’s stock worth $806,000 after buying an additional 6,601 shares during the period. Woodline Partners LP grew its holdings in shares of 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 grew its holdings in shares of 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 position 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 during the period. 78.56% of the stock is currently owned by hedge funds and other institutional investors.
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.
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