Caisse DE Depot ET Placement DU Quebec Acquires 919,622 Shares of Pacific Gas & Electric Co. $PCG

Key Points

• Caisse DE Depot ET Placement DU Quebec significantly increased its stake in Pacific Gas & Electric Co. by 670.7%, acquiring an additional 919,622 shares in the first quarter, bringing its total holdings to over 1 million shares worth approximately $18.15 million.
• Pacific Gas & Electric reported $0.31 earnings per share for the last quarter, missing the consensus estimate of $0.33, and its revenue decreased by 1.5% year-over-year to $5.90 billion.
• Institutional investors own 78.56% of Pacific Gas & Electric, with several hedge funds significantly altering their holdings recently, indicating increased interest in the company.

Caisse DE Depot ET Placement DU Quebec raised its holdings in shares of Pacific Gas & Electric Co. (NYSE:PCG - Free Report) by 670.7% during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,056,730 shares of the utilities provider's stock after acquiring an additional 919,622 shares during the quarter. Caisse DE Depot ET Placement DU Quebec's holdings in Pacific Gas & Electric were worth $18,155,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently bought and sold shares of the business. MML Investors Services LLC grew its stake in shares of Pacific Gas & Electric by 51.3% in the 4th quarter. MML Investors Services LLC now owns 89,459 shares of the utilities provider's stock valued at $1,805,000 after buying an additional 30,349 shares in the last quarter. Integrated Wealth Concepts LLC grew its stake in shares of Pacific Gas & Electric by 26.5% in the 4th quarter. Integrated Wealth Concepts LLC now owns 40,468 shares of the utilities provider's stock valued at $817,000 after buying an additional 8,478 shares in the last quarter. Coldstream Capital Management Inc. grew its stake in shares of Pacific Gas & Electric by 15.9% in the 4th quarter. Coldstream Capital Management Inc. now owns 13,877 shares of the utilities provider's stock valued at $280,000 after buying an additional 1,907 shares in the last quarter. Tudor Investment Corp ET AL bought a new stake in shares of Pacific Gas & Electric in the 4th quarter valued at approximately $8,072,000. Finally, Optiver Holding B.V. grew its stake in shares of Pacific Gas & Electric by 23.9% in the 4th quarter. Optiver Holding B.V. now owns 4,271 shares of the utilities provider's stock valued at $86,000 after buying an additional 825 shares in the last quarter. Hedge funds and other institutional investors own 78.56% of the company's stock.

Pacific Gas & Electric Stock Performance

PCG stock traded up $0.31 during midday trading on Monday, hitting $15.30. 19,336,157 shares of the company traded hands, compared to its average volume of 26,094,244. Pacific Gas & Electric Co. has a twelve month low of $12.97 and a twelve month high of $21.72. 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 business has a 50 day simple moving average of $14.31 and a 200-day simple moving average of $15.70. The stock has a market capitalization of $40.92 billion, a price-to-earnings ratio of 14.03, a price-to-earnings-growth ratio of 1.14 and a beta of 0.57.

Pacific Gas & Electric (NYSE:PCG - Get Free Report) last announced its quarterly earnings results on Thursday, July 31st. The utilities provider reported $0.31 EPS for the quarter, missing the consensus estimate of $0.33 by ($0.02). Pacific Gas & Electric had a net margin of 9.95% and a return on equity of 10.13%. The company had revenue of $5.90 billion for the quarter, compared to analyst estimates of $6.37 billion. During the same quarter last year, the business earned $0.31 EPS. The company's revenue for the quarter was down 1.5% on a year-over-year basis. Pacific Gas & Electric has set its FY 2025 guidance at 1.480-1.520 EPS. As a group, equities research analysts predict that Pacific Gas & Electric Co. will post 1.49 earnings per share for the current year.

Analysts Set New Price Targets

PCG has been the subject of several recent research reports. Zacks Research raised Pacific Gas & Electric from a "strong sell" rating to a "hold" rating in a research note on Monday, August 18th. UBS Group set a $19.00 price target on Pacific Gas & Electric in a research note on Friday. Morgan Stanley reissued an "underweight" rating on shares of Pacific Gas & Electric in a research note on Thursday, August 21st. Mizuho boosted their price target on Pacific Gas & Electric from $20.00 to $21.00 and gave the company an "outperform" rating in a research note on Monday, May 19th. Finally, Argus upgraded Pacific Gas & Electric to a "hold" rating in a report on Monday, June 16th. Seven equities research analysts have rated the stock with a Buy rating, five have issued a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, Pacific Gas & Electric has a consensus rating of "Hold" and an average price target of $20.55.

Pacific Gas & Electric Profile

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.