Allworth Financial LP Invests $5.84 Million in Pacific Gas & Electric Co. $PCG

Key Points

• Allworth Financial initiated a $5.84 million position in PG&E during the second quarter by purchasing 347,307 shares. Institutional investors collectively own 78.56% of the utility’s stock.
• Analysts maintain a generally positive outlook, with seven Buy, two Hold and one Sell rating; the consensus is “Moderate Buy” with a $22.20 average price target.
• PG&E exceeded quarterly earnings expectations, reporting adjusted EPS of $0.40 versus the $0.36 consensus estimate, while revenue reached $5.90 billion. The company reaffirmed fiscal 2026 EPS guidance of $1.64–$1.66.

Allworth Financial LP bought a new position in Pacific Gas & Electric Co. (NYSE:PCG - Free Report) in the 2nd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor bought 347,307 shares of the utilities provider's stock, valued at approximately $5,842,000.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Tobam bought a new stake in Pacific Gas & Electric during the 4th quarter valued at approximately $30,000. Torren Management LLC purchased a new stake in Pacific Gas & Electric during the 4th quarter valued at approximately $33,000. Modus Advisors LLC purchased a new stake in Pacific Gas & Electric during the 4th quarter valued at approximately $36,000. CoreCap Advisors LLC raised its position in shares of Pacific Gas & Electric by 13.1% during the second quarter. CoreCap Advisors LLC now owns 5,843 shares of the utilities provider's stock valued at $98,000 after buying an additional 677 shares during the last quarter. Finally, Brown Brothers Harriman & Co. lifted its holdings in shares of Pacific Gas & Electric by 908.8% in the third quarter. Brown Brothers Harriman & Co. now owns 6,618 shares of the utilities provider's stock worth $100,000 after buying an additional 5,962 shares in the last quarter. Institutional investors own 78.56% of the company's stock.

Insider Activity at Pacific Gas & Electric

In other news, EVP Marlene Santos sold 158,250 shares of Pacific Gas & Electric 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 completion of the transaction, the executive vice president owned 230,885 shares in the company, valued at approximately $4,155,930. The trade was a 40.67% decrease in their position. The sale was disclosed in a document filed 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. Company insiders own 0.22% of the company's stock.

Wall Street Analysts Forecast Growth

PCG has been the subject of a number of research reports. BMO Capital Markets dropped their target price on shares of Pacific Gas & Electric from $28.00 to $27.00 and set an "outperform" rating for the company in a research report on Friday, July 24th. Truist Financial dropped their price objective on shares of Pacific Gas & Electric from $23.00 to $21.00 and set a "buy" rating for the company in a report on Tuesday, August 4th. UBS Group reaffirmed a "buy" rating on shares of Pacific Gas & Electric in a report on Tuesday. Morgan Stanley set a $22.00 target price on Pacific Gas & Electric in a research report on Thursday, May 21st. Finally, Wall Street Zen cut Pacific Gas & Electric from a "buy" rating to a "hold" rating in a report on Saturday, July 25th. Seven analysts have rated the stock with a Buy rating, two have given a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, Pacific Gas & Electric has an average rating of "Moderate Buy" and an average target price of $22.20.

Pacific Gas & Electric Stock Performance

Pacific Gas & Electric stock opened at $17.99 on Friday. The company's 50-day moving average price is $17.26 and its 200-day moving average price is $17.26. Pacific Gas & Electric Co. has a twelve month low of $14.30 and a twelve month high of $19.16. The company has a quick ratio of 1.15, a current ratio of 1.22 and a debt-to-equity ratio of 1.90. The company has a market cap of $48.22 billion, a PE ratio of 13.04, a price-to-earnings-growth ratio of 1.15 and a beta of 0.28.

Pacific Gas & Electric (NYSE:PCG - Get Free Report) last released its quarterly earnings results on Thursday, July 23rd. The utilities provider reported $0.40 EPS for the quarter, topping the consensus estimate 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 company had revenue of $5.90 billion during the quarter, compared to analyst estimates of $6.20 billion. During the same quarter last year, the business posted $0.31 earnings per share. The firm's 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. On average, equities research analysts forecast that Pacific Gas & Electric Co. will post 1.65 EPS for the current fiscal year.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.

Continue following MarketBeat

Add MarketBeat as your preferred source on Google to see our latest stories in your feed.

Add As Preferred Source