BI Asset Management Fondsmaeglerselskab A S Buys 65,738 Shares of Pacific Gas & Electric Co. $PCG

Key Points

• BI Asset Management Fondsmaeglerselskab A S increased its stake in Pacific Gas & Electric by 30.1% in the first quarter, buying 65,738 additional shares to bring its total to 283,946 shares worth about $4.99 million.
• PG&E reported better-than-expected first-quarter earnings of $0.43 per share versus analysts’ estimate of $0.39, with revenue of $6.88 billion topping forecasts and rising 15% from a year earlier.
• The company declared a quarterly dividend of $0.05 per share, while analysts currently rate the stock a Moderate Buy with an average price target of $22.10.

BI Asset Management Fondsmaeglerselskab A S grew its stake in shares of Pacific Gas & Electric Co. (NYSE:PCG - Free Report) by 30.1% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 283,946 shares of the utilities provider's stock after purchasing an additional 65,738 shares during the period. BI Asset Management Fondsmaeglerselskab A S's holdings in Pacific Gas & Electric were worth $4,989,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors also recently made changes to their positions in PCG. Tobam acquired a new position in Pacific Gas & Electric during the 4th quarter worth approximately $30,000. Captrust Financial Advisors raised its position in shares of Pacific Gas & Electric by 59.5% during the fourth quarter. Captrust Financial Advisors now owns 468,091 shares of the utilities provider's stock worth $7,522,000 after purchasing an additional 174,564 shares during the period. Van Lanschot Kempen Investment Management N.V. raised its position in shares of Pacific Gas & Electric by 96.5% during the fourth quarter. Van Lanschot Kempen Investment Management N.V. now owns 110,915 shares of the utilities provider's stock worth $1,782,000 after purchasing an additional 54,474 shares during the period. Brown Brothers Harriman & Co. lifted its holdings in shares of Pacific Gas & Electric by 42.9% in the 4th quarter. Brown Brothers Harriman & Co. now owns 9,454 shares of the utilities provider's stock worth $152,000 after purchasing an additional 2,836 shares in the last quarter. Finally, Syon Capital LLC lifted its holdings in shares of Pacific Gas & Electric by 9.3% in the 4th quarter. Syon Capital LLC now owns 56,014 shares of the utilities provider's stock worth $900,000 after purchasing an additional 4,783 shares in the last quarter. 78.56% of the stock is currently owned by institutional investors and hedge funds.

Pacific Gas & Electric Stock Up 0.9%

Shares of NYSE:PCG opened at $16.62 on Tuesday. The company has a market capitalization of $44.55 billion, a PE ratio of 12.89, a price-to-earnings-growth ratio of 0.63 and a beta of 0.27. The company has a debt-to-equity ratio of 1.88, a current ratio of 1.20 and a quick ratio of 1.13. The business has a fifty day moving average price of $16.67 and a two-hundred day moving average price of $16.71. Pacific Gas & Electric Co. has a 1 year low of $12.97 and a 1 year high of $19.16.

Pacific Gas & Electric (NYSE:PCG - Get Free Report) last released its earnings results on Thursday, April 23rd. The utilities provider reported $0.43 EPS for the quarter, topping analysts' consensus estimates of $0.39 by $0.04. The company had revenue of $6.88 billion for the quarter, compared to analysts' expectations of $6.20 billion. Pacific Gas & Electric had a return on equity of 11.95% and a net margin of 11.44%.The business's revenue for the quarter was up 15.0% compared to the same quarter last year. During the same period in the previous year, the business posted $0.33 EPS. Pacific Gas & Electric has set its FY 2026 guidance at 1.640-1.660 EPS. Analysts forecast 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 announced a quarterly dividend, which will be paid on Wednesday, July 15th. Stockholders of record on Tuesday, June 30th will be given a dividend of $0.05 per share. This represents a $0.20 dividend on an annualized basis and a dividend yield of 1.2%. The ex-dividend date of this dividend is Tuesday, June 30th. Pacific Gas & Electric's dividend payout ratio is currently 15.50%.

Insider Buying and Selling at Pacific Gas & Electric

In other news, EVP Jason M. Glickman sold 47,264 shares of the firm's stock in a transaction that occurred on Tuesday, April 28th. The shares were sold at an average price of $16.35, for a total transaction of $772,766.40. Following the completion of the sale, the executive vice president owned 136,433 shares in the company, valued at $2,230,679.55. This trade represents a 25.73% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. 0.22% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

Several research analysts have weighed in on PCG shares. Morgan Stanley set a $22.00 price objective on shares of Pacific Gas & Electric in a report on Thursday, May 21st. Wall Street Zen upgraded Pacific Gas & Electric from a "hold" rating to a "buy" rating in a research note on Saturday, June 13th. Truist Financial lowered their price objective on Pacific Gas & Electric from $23.00 to $22.00 and set a "buy" rating for the company in a research note on Monday, May 18th. Jefferies Financial Group restated a "hold" rating and issued a $19.00 target price (down from $20.00) on shares of Pacific Gas & Electric in a report on Monday, March 23rd. Finally, UBS Group upgraded Pacific Gas & Electric from a "neutral" rating to a "buy" rating in a research note on Monday, March 9th. Seven investment analysts have rated the stock with a Buy rating, three 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 presently has a consensus rating of "Moderate Buy" and an average target price of $22.10.

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.

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.