National Wealth Management Group LLC Invests $339,000 in Pacific Gas & Electric Co. $PCG

Key Points

• National Wealth Management Group LLC acquired 19,745 shares of Pacific Gas & Electric Co. (NYSE:PCG), valued at approximately $339,000, marking a new position in the company.
• Several institutional investors, including AQR Capital Management LLC and ATLAS Infrastructure Partners UK Ltd., significantly increased their stakes in Pacific Gas & Electric during the first quarter.
• Pacific Gas & Electric reported earnings per share (EPS) of $0.31 in its last quarter, which fell short of analyst expectations of $0.33, with revenue also declining by 1.5% year-over-year.

National Wealth Management Group LLC acquired a new position in Pacific Gas & Electric Co. (NYSE:PCG - Free Report) in the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor acquired 19,745 shares of the utilities provider's stock, valued at approximately $339,000.

A number of other hedge funds also recently added to or reduced their stakes in the business. Vanguard Group Inc. lifted its stake in Pacific Gas & Electric by 1.2% in the first quarter. Vanguard Group Inc. now owns 257,285,352 shares of the utilities provider's stock worth $4,420,162,000 after acquiring an additional 2,926,384 shares during the period. Northern Trust Corp lifted its position in shares of Pacific Gas & Electric by 4.3% during the first quarter. Northern Trust Corp now owns 19,944,322 shares of the utilities provider's stock valued at $342,643,000 after buying an additional 818,377 shares during the last quarter. Canada Pension Plan Investment Board lifted its position in shares of Pacific Gas & Electric by 352.3% during the first quarter. Canada Pension Plan Investment Board now owns 19,172,519 shares of the utilities provider's stock valued at $329,384,000 after buying an additional 14,933,364 shares during the last quarter. AQR Capital Management LLC lifted its position in shares of Pacific Gas & Electric by 317.2% during the first quarter. AQR Capital Management LLC now owns 16,464,333 shares of the utilities provider's stock valued at $280,305,000 after buying an additional 12,518,011 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. lifted its position in shares of Pacific Gas & Electric by 5.9% during the first quarter. Charles Schwab Investment Management Inc. now owns 12,882,526 shares of the utilities provider's stock valued at $221,322,000 after buying an additional 720,500 shares during the last quarter. 78.56% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several research firms have commented on PCG. Zacks Research raised shares of Pacific Gas & Electric from a "strong sell" rating to a "hold" rating in a research report on Monday, August 18th. Argus raised shares of Pacific Gas & Electric to a "hold" rating in a research report on Monday, June 16th. Mizuho increased their price objective on shares of Pacific Gas & Electric from $20.00 to $21.00 and gave the company an "outperform" rating in a research report on Monday, May 19th. UBS Group set a $19.00 price objective on shares of Pacific Gas & Electric in a research report on Friday, August 29th. Finally, Morgan Stanley reaffirmed an "underweight" rating on shares of Pacific Gas & Electric in a research report on Thursday, August 21st. Seven equities research analysts have rated the stock with a Buy rating, five have assigned a Hold rating and one has assigned a Sell rating to the company's stock. Based on data from MarketBeat, Pacific Gas & Electric currently has a consensus rating of "Hold" and a consensus target price of $20.55.

Pacific Gas & Electric Stock Performance

NYSE:PCG traded up $0.48 during midday trading on Wednesday, hitting $15.45. The company's stock had a trading volume of 46,212,508 shares, compared to its average volume of 23,630,975. Pacific Gas & Electric Co. has a fifty-two week low of $12.97 and a fifty-two week high of $21.72. The firm's 50 day moving average is $14.47 and its 200-day moving average is $15.68. The company has a debt-to-equity ratio of 1.81, a current ratio of 0.94 and a quick ratio of 0.89. The firm has a market cap of $41.34 billion, a P/E ratio of 14.17, a P/E/G ratio of 1.08 and a beta of 0.57.

Pacific Gas & Electric (NYSE:PCG - Get Free Report) last issued its quarterly earnings results on Thursday, July 31st. The utilities provider reported $0.31 earnings per share for the quarter, missing the consensus estimate of $0.33 by ($0.02). Pacific Gas & Electric had a return on equity of 10.13% and a net margin of 9.95%.The business had revenue of $5.90 billion during the quarter, compared to analyst estimates of $6.37 billion. During the same quarter last year, the company posted $0.31 EPS. Pacific Gas & Electric's quarterly revenue was down 1.5% compared to the same quarter last year. Pacific Gas & Electric has set its FY 2025 guidance at 1.480-1.520 EPS. Equities analysts anticipate that Pacific Gas & Electric Co. will post 1.49 earnings per share for the current fiscal year.

Pacific Gas & Electric Company Profile

PG&E Corp. operates as a holding company, which engages in generation, transmission, and distribution of electricity and natural gas to customers. It specializes in energy, utility, power, gas, electricity, solar and sustainability. The company was founded in 1995 and is headquartered in Oakland, CA.