BNP PARIBAS ASSET MANAGEMENT Holding S.A. Boosts Stock Position in Pacific Gas & Electric Co. $PCG

Key Points

• BNP PARIBAS ASSET MANAGEMENT Holding S.A. increased its ownership in Pacific Gas & Electric Co. by 43.5%, acquiring an additional 133,523 shares, bringing its total holdings to 440,580 shares worth approximately $7.57 million.
• Multiple institutional investors have also enhanced their positions in Pacific Gas & Electric, with significant increases by firms like GAMMA Investing LLC (738.7% increase) and Cambridge Investment Research (55.6% increase) during the first quarter.
• Pacific Gas & Electric recently reported $0.31 earnings per share, missing analysts' estimates, while the stock maintains a market cap of $40.40 billion and an average price target of $20.55 from analysts.

BNP PARIBAS ASSET MANAGEMENT Holding S.A. increased its holdings in Pacific Gas & Electric Co. (NYSE:PCG - Free Report) by 43.5% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 440,580 shares of the utilities provider's stock after purchasing an additional 133,523 shares during the quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A.'s holdings in Pacific Gas & Electric were worth $7,569,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also added to or reduced their stakes in the company. Vanguard Group Inc. lifted its position in Pacific Gas & Electric by 1.2% during the 1st quarter. Vanguard Group Inc. now owns 257,285,352 shares of the utilities provider's stock valued at $4,420,162,000 after acquiring an additional 2,926,384 shares during the period. Northern Trust Corp increased its stake 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 purchasing an additional 818,377 shares in the last quarter. BROOKFIELD Corp ON lifted its holdings in shares of Pacific Gas & Electric by 16.2% during the fourth quarter. BROOKFIELD Corp ON now owns 14,692,444 shares of the utilities provider's stock valued at $296,494,000 after purchasing an additional 2,049,359 shares during the last quarter. Charles Schwab Investment Management Inc. boosted its position in shares of Pacific Gas & Electric by 5.9% in the 1st quarter. Charles Schwab Investment Management Inc. now owns 12,882,526 shares of the utilities provider's stock worth $221,322,000 after purchasing an additional 720,500 shares in the last quarter. Finally, Zimmer Partners LP grew its stake in shares of Pacific Gas & Electric by 84.9% in the 4th quarter. Zimmer Partners LP now owns 12,661,324 shares of the utilities provider's stock worth $255,506,000 after buying an additional 5,814,624 shares during the last quarter. Hedge funds and other institutional investors own 78.56% of the company's stock.

Analysts Set New Price Targets

Several research firms recently issued reports on PCG. Mizuho upped their price objective on Pacific Gas & Electric from $20.00 to $21.00 and gave the company an "outperform" rating in a research report on Monday, May 19th. Guggenheim increased their price objective on Pacific Gas & Electric from $16.00 to $17.00 and gave the company a "neutral" rating in a research report on Friday, April 25th. Evercore ISI lifted their price objective on Pacific Gas & Electric from $15.00 to $17.00 and gave the stock an "in-line" rating in a report on Monday, April 28th. Barclays lowered their target price 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. Finally, Zacks Research raised shares of Pacific Gas & Electric from a "strong sell" rating to a "hold" rating in a report on Monday, August 18th. Seven investment 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. According to MarketBeat.com, the stock has a consensus rating of "Hold" and an average price target of $20.55.

Pacific Gas & Electric Stock Performance

Shares of PCG stock traded up $0.4950 on Friday, reaching $15.1650. The stock had a trading volume of 27,071,795 shares, compared to its average volume of 28,466,784. The company has a debt-to-equity ratio of 1.81, a quick ratio of 0.89 and a current ratio of 0.94. Pacific Gas & Electric Co. has a 1 year low of $12.97 and a 1 year high of $21.72. The stock has a market cap of $40.58 billion, a P/E ratio of 13.91, a price-to-earnings-growth ratio of 1.09 and a beta of 0.54. The company has a 50 day simple moving average of $14.19 and a 200 day simple moving average of $15.73.

Pacific Gas & Electric (NYSE:PCG - Get Free Report) last posted its earnings results on Thursday, July 31st. The utilities provider reported $0.31 earnings per share for the quarter, missing analysts' consensus estimates of $0.33 by ($0.02). The firm had revenue of $5.90 billion during 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 firm's revenue was down 1.5% compared to the same quarter last year. During the same period in the prior year, the company posted $0.31 EPS. Pacific Gas & Electric has set its FY 2025 guidance at 1.480-1.520 EPS. Equities research analysts expect that Pacific Gas & Electric Co. will post 1.49 EPS for the current year.

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.