Focus Partners Advisor Solutions LLC bought a new position in Pacific Gas & Electric Co. (NYSE:PCG – Free Report) in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund bought 240,451 shares of the utilities provider’s stock, valued at approximately $4,044,000.
A number of other large investors have also recently added to or reduced their stakes in PCG. SG Americas Securities LLC grew its holdings in Pacific Gas & Electric by 366.6% during the first quarter. SG Americas Securities LLC now owns 2,984,809 shares of the utilities provider’s stock valued at $52,443,000 after purchasing an additional 2,345,120 shares during the last quarter. Pinebridge Investments LLC acquired a new stake in shares of Pacific Gas & Electric in the fourth quarter worth $28,967,000. Geode Capital Management LLC lifted its stake in shares of Pacific Gas & Electric by 1.9% in the fourth quarter. Geode Capital Management LLC now owns 62,134,132 shares of the utilities provider’s stock worth $1,019,297,000 after buying an additional 1,132,249 shares during the last quarter. BI Asset Management Fondsmaeglerselskab A S boosted its holdings in shares of Pacific Gas & Electric by 499.7% during the 2nd quarter. BI Asset Management Fondsmaeglerselskab A S now owns 433,064 shares of the utilities provider’s stock worth $6,037,000 after buying an additional 360,845 shares during the period. Finally, Harrison Street Private Wealth LLC bought a new stake in shares of Pacific Gas & Electric during the 1st quarter worth $3,643,000. Institutional investors own 78.56% of the company’s stock.
Insider Activity
In other news, EVP Marlene Santos sold 158,250 shares of the company’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 of the company’s stock, valued at approximately $4,155,930. This represents a 40.67% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders own 0.22% of the company’s stock.
Pacific Gas & Electric Stock Up 2.1%
Pacific Gas & Electric (NYSE:PCG – Get Free Report) last announced 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. The business had revenue of $5.90 billion for the quarter, compared to analyst estimates of $6.20 billion. Pacific Gas & Electric had a net margin of 12.25% and a return on equity of 12.48%. Pacific Gas & Electric’s revenue was up .1% compared to the same quarter last year. During the same quarter 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 anticipate that Pacific Gas & Electric Co. will post 1.65 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, July 15th. Stockholders of record on Tuesday, June 30th were issued a dividend of $0.05 per share. The ex-dividend date was Tuesday, June 30th. This represents a $0.20 annualized dividend and a dividend yield of 1.1%. Pacific Gas & Electric’s payout ratio is presently 14.49%.
Analysts Set New Price Targets
A number of research analysts recently issued reports on the stock. Truist Financial lowered their target price on shares of Pacific Gas & Electric from $23.00 to $21.00 and set a “buy” rating on the stock in a research note on Tuesday, August 4th. Wells Fargo & Company restated an “overweight” rating and set a $25.00 price target on shares of Pacific Gas & Electric in a report on Tuesday, April 21st. Wall Street Zen cut shares of Pacific Gas & Electric from a “buy” rating to a “hold” rating in a report on Saturday, July 25th. Morgan Stanley set a $22.00 price target on Pacific Gas & Electric in a research report on Thursday, May 21st. Finally, BMO Capital Markets dropped their price objective on Pacific Gas & Electric from $28.00 to $27.00 and set an “outperform” rating on the stock in a research note on Friday, July 24th. Seven research analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $22.20.
View Our Latest Stock Analysis on PCG
Pacific Gas & Electric Company 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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