Danske Bank A S purchased a new position in shares of Pacific Gas & Electric Co. (NYSE:PCG – Free Report) in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund purchased 1,725,476 shares of the utilities provider’s stock, valued at approximately $29,023,000.
Several other hedge funds also recently added to or reduced their stakes in PCG. Dynamic Technology Lab Private Ltd purchased a new stake in Pacific Gas & Electric in the 1st quarter worth about $203,000. Empowered Funds LLC lifted its stake 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 worth $806,000 after purchasing an additional 6,601 shares during the last quarter. Woodline Partners LP boosted its position 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 during the period. Focus Partners Wealth boosted its position 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 during the period. Finally, BI Asset Management Fondsmaeglerselskab A S boosted its position in shares of 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 institutional investors.
Insider Activity
In related news, EVP Marlene Santos sold 158,250 shares of the 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 transaction, the executive vice president owned 230,885 shares of the company’s stock, valued at $4,155,930. This represents a 40.67% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available 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.
Wall Street Analyst Weigh In
View Our Latest Report on Pacific Gas & Electric
Pacific Gas & Electric Trading Down 0.9%
Shares of PCG opened at $17.66 on Thursday. The firm has a market capitalization of $47.32 billion, a price-to-earnings ratio of 12.79, a PEG ratio of 1.16 and a beta of 0.28. The company has a debt-to-equity ratio of 1.90, a current ratio of 1.22 and a quick ratio of 1.15. Pacific Gas & Electric Co. has a 1-year low of $14.30 and a 1-year high of $19.16. The company has a 50-day moving average of $17.24 and a 200 day moving average of $17.24.
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, topping analysts’ consensus estimates of $0.36 by $0.04. The business had revenue of $5.90 billion for the quarter, compared to the consensus estimate of $6.20 billion. Pacific Gas & Electric had a net margin of 12.25% and a return on equity of 12.48%. The company’s revenue for the quarter was up .1% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.31 EPS. Pacific Gas & Electric has set its FY 2026 guidance at 1.640-1.660 EPS. On average, research analysts expect that Pacific Gas & Electric Co. will post 1.65 EPS for the current year.
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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