BROOKFIELD Corp ON Sells 3,385,340 Shares of Pacific Gas & Electric Co. $PCG

Key Points

• BROOKFIELD Corp ON reduced its holdings in Pacific Gas & Electric Co. by 23.0%, selling over 3.3 million shares, leaving them with approximately 11.3 million shares, making it the company's 15th largest investment.
• Pacific Gas & Electric has recently received various ratings updates from brokerages, with Argus upgrading it to a "hold" rating and Mizuho raising its price target to $21.00.
• The company reported EPS of $0.31 for the last quarter, missing the consensus estimate of $0.33, while revenues fell short of expectations at $5.90 billion compared to the projected $6.37 billion.

BROOKFIELD Corp ON lessened its position in shares of Pacific Gas & Electric Co. (NYSE:PCG - Free Report) by 23.0% in the first quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 11,307,104 shares of the utilities provider's stock after selling 3,385,340 shares during the quarter. Pacific Gas & Electric accounts for 1.1% of BROOKFIELD Corp ON's portfolio, making the stock its 15th biggest holding. BROOKFIELD Corp ON owned 0.42% of Pacific Gas & Electric worth $194,256,000 at the end of the most recent reporting period.

Other institutional investors also recently bought and sold shares of the company. Deseret Mutual Benefit Administrators grew its stake in shares of Pacific Gas & Electric by 45.0% during the 1st quarter. Deseret Mutual Benefit Administrators now owns 2,173 shares of the utilities provider's stock valued at $37,000 after purchasing an additional 674 shares during the period. Farther Finance Advisors LLC boosted its holdings in shares of Pacific Gas & Electric by 1.9% in the first quarter. Farther Finance Advisors LLC now owns 42,747 shares of the utilities provider's stock worth $738,000 after buying an additional 785 shares during the last quarter. Parallel Advisors LLC boosted its holdings in shares of Pacific Gas & Electric by 2.4% in the first quarter. Parallel Advisors LLC now owns 38,625 shares of the utilities provider's stock worth $664,000 after buying an additional 887 shares during the last quarter. Oregon Public Employees Retirement Fund grew its position in Pacific Gas & Electric by 0.5% during the first quarter. Oregon Public Employees Retirement Fund now owns 188,411 shares of the utilities provider's stock valued at $3,237,000 after buying an additional 1,010 shares during the period. Finally, Gemmer Asset Management LLC increased its holdings in Pacific Gas & Electric by 3.0% during the first quarter. Gemmer Asset Management LLC now owns 39,772 shares of the utilities provider's stock valued at $683,000 after buying an additional 1,165 shares during the last quarter. Institutional investors own 78.56% of the company's stock.

Pacific Gas & Electric Price Performance

Shares of Pacific Gas & Electric stock traded up $0.18 on Wednesday, hitting $15.13. 10,605,967 shares of the company traded hands, compared to its average volume of 23,848,141. Pacific Gas & Electric Co. has a 52 week low of $12.97 and a 52 week high of $21.72. The business has a 50-day simple moving average of $14.62 and a 200 day simple moving average of $15.66. The company has a debt-to-equity ratio of 1.81, a quick ratio of 0.89 and a current ratio of 0.94. The stock has a market capitalization of $40.47 billion, a P/E ratio of 13.88, a price-to-earnings-growth ratio of 1.14 and a beta of 0.57.

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 the consensus estimate of $0.33 by ($0.02). The company had revenue of $5.90 billion for the quarter, compared to analysts' expectations 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% on a year-over-year basis. During the same period in the previous year, the business posted $0.31 earnings per share. Pacific Gas & Electric has set its FY 2025 guidance at 1.480-1.520 EPS. Research analysts expect that Pacific Gas & Electric Co. will post 1.49 earnings per share for the current fiscal year.

Analyst Ratings Changes

PCG has been the topic of several analyst reports. UBS Group set a $19.00 price target on shares of Pacific Gas & Electric in a research note on Friday, August 29th. Barclays reduced their price objective on Pacific Gas & Electric from $22.00 to $20.00 and set an "overweight" rating for the company in a research note on Tuesday, July 22nd. Argus raised Pacific Gas & Electric to a "hold" rating in a report on Monday, June 16th. Zacks Research raised Pacific Gas & Electric from a "strong sell" rating to a "hold" rating in a report on Monday, August 18th. Finally, Morgan Stanley restated an "underweight" rating on shares of Pacific Gas & Electric in a research report on Thursday, August 21st. Six investment analysts have rated the stock with a Buy rating, five have issued a Hold rating and one has given a Sell rating to the company's stock. According to MarketBeat.com, the company currently has a consensus rating of "Hold" and an average price target of $20.20.

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.