AQR Capital Management LLC Buys 12,518,011 Shares of Pacific Gas & Electric Co. $PCG

Key Points

• AQR Capital Management LLC has significantly increased its stake in Pacific Gas & Electric Co. by 317.2% in the first quarter, purchasing an additional 12,518,011 shares to reach a total of approximately 16.5 million shares.
• Analysts have mixed views on Pacific Gas & Electric, with seven analysts rating it as Buy and five as Hold, while the average price target is set at $20.55.
• During its last earnings report, Pacific Gas & Electric reported $0.31 earnings per share, missing estimates, and also indicated a 1.5% decline in quarterly revenue compared to the same period last year.

AQR Capital Management LLC grew its stake in shares of Pacific Gas & Electric Co. (NYSE:PCG - Free Report) by 317.2% during the first quarter, according to the company in its most recent disclosure with the SEC. The fund owned 16,464,333 shares of the utilities provider's stock after buying an additional 12,518,011 shares during the quarter. AQR Capital Management LLC owned approximately 0.62% of Pacific Gas & Electric worth $280,305,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the stock. ATLAS Infrastructure Partners UK Ltd. grew its stake in shares of Pacific Gas & Electric by 193.4% during the first quarter. ATLAS Infrastructure Partners UK Ltd. now owns 10,428,328 shares of the utilities provider's stock worth $179,159,000 after buying an additional 6,873,576 shares during the last quarter. Federation des caisses Desjardins du Quebec grew its stake in shares of Pacific Gas & Electric by 56.2% during the first quarter. Federation des caisses Desjardins du Quebec now owns 131,591 shares of the utilities provider's stock worth $2,261,000 after buying an additional 47,361 shares during the last quarter. Focus Partners Advisor Solutions LLC bought a new stake in shares of Pacific Gas & Electric during the first quarter worth $816,000. Quarry LP grew its stake in shares of Pacific Gas & Electric by 1,302.4% during the first quarter. Quarry LP now owns 102,109 shares of the utilities provider's stock worth $1,754,000 after buying an additional 94,828 shares during the last quarter. Finally, Vident Advisory LLC grew its stake in shares of Pacific Gas & Electric by 132.9% during the first quarter. Vident Advisory LLC now owns 30,075 shares of the utilities provider's stock worth $517,000 after buying an additional 17,159 shares during the last quarter. Institutional investors own 78.56% of the company's stock.

Pacific Gas & Electric Trading Down 1.0%

PCG traded down $0.16 during trading on Friday, reaching $15.08. 20,070,825 shares of the stock traded hands, compared to its average volume of 21,027,780. The company has a quick ratio of 0.89, a current ratio of 0.94 and a debt-to-equity ratio of 1.81. The stock has a market capitalization of $40.33 billion, a PE ratio of 13.83, a P/E/G ratio of 1.12 and a beta of 0.57. The stock's 50-day moving average is $14.44 and its 200 day moving average is $15.70. Pacific Gas & Electric Co. has a 12 month low of $12.97 and a 12 month high of $21.72.

Pacific Gas & Electric (NYSE:PCG - Get Free Report) last issued its quarterly earnings results on Thursday, July 31st. The utilities provider reported $0.31 EPS for the quarter, missing analysts' consensus estimates of $0.33 by ($0.02). The firm had revenue of $5.90 billion for the quarter, compared to the consensus estimate of $6.37 billion. Pacific Gas & Electric had a net margin of 9.95% and a return on equity of 10.13%. The business's revenue was down 1.5% compared to the same quarter last year. During the same period last year, the company posted $0.31 EPS. 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 year.

Analyst Ratings Changes

PCG has been the topic of a number of research reports. Morgan Stanley reaffirmed an "underweight" rating on shares of Pacific Gas & Electric in a research note on Thursday, August 21st. Mizuho boosted their price objective on shares of Pacific Gas & Electric from $20.00 to $21.00 and gave the stock an "outperform" rating in a research note on Monday, May 19th. Barclays reduced their price objective on shares of Pacific Gas & Electric from $22.00 to $20.00 and set an "overweight" rating on the stock in a research note on Tuesday, July 22nd. Argus raised shares of Pacific Gas & Electric to a "hold" rating in a research note on Monday, June 16th. Finally, UBS Group set a $19.00 price objective on shares of Pacific Gas & Electric in a research note on Friday, August 29th. Seven analysts have rated the stock with a Buy rating, five have given a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, the stock currently has an average rating of "Hold" and an average target price of $20.55.

About Pacific Gas & Electric

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.