Pacific Gas & Electric Co. $PCG Position Increased by Canada Pension Plan Investment Board

Key Points

• The Canada Pension Plan Investment Board increased its holdings in Pacific Gas & Electric by 352.3%, owning approximately 19.17 million shares valued at $329 million after purchasing an additional 14.93 million shares in Q1.
• Analysts have given Pacific Gas & Electric a consensus rating of "Hold" with a price target of $20.55, while ratings vary from several "Buy" to one "Sell."
• Pacific Gas & Electric reported $0.31 earnings per share for the last quarter, missing the consensus estimate, with a revenue of $5.90 billion compared to expectations of $6.37 billion.

Canada Pension Plan Investment Board raised its stake in Pacific Gas & Electric Co. (NYSE:PCG - Free Report) by 352.3% in the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 19,172,519 shares of the utilities provider's stock after purchasing an additional 14,933,364 shares during the quarter. Canada Pension Plan Investment Board owned 0.72% of Pacific Gas & Electric worth $329,384,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors also recently modified their holdings of PCG. Costello Asset Management INC purchased a new stake in shares of Pacific Gas & Electric in the first quarter worth $31,000. Deseret Mutual Benefit Administrators boosted its holdings 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 last quarter. Colonial Trust Co SC boosted its holdings in shares of Pacific Gas & Electric by 563.0% in the 4th quarter. Colonial Trust Co SC now owns 1,916 shares of the utilities provider's stock worth $39,000 after purchasing an additional 1,627 shares during the period. Safe Harbor Fiduciary LLC purchased a new position in shares of Pacific Gas & Electric during the first quarter worth approximately $39,000. Finally, Larson Financial Group LLC increased its holdings in Pacific Gas & Electric by 198.1% during the first quarter. Larson Financial Group LLC now owns 3,050 shares of the utilities provider's stock valued at $52,000 after buying an additional 2,027 shares during the period. 78.56% of the stock is owned by institutional investors.

Analysts Set New Price Targets

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

Pacific Gas & Electric Stock Performance

Shares of PCG stock traded up $0.03 during mid-day trading on Tuesday, hitting $15.31. The stock had a trading volume of 15,169,389 shares, compared to its average volume of 23,559,746. Pacific Gas & Electric Co. has a fifty-two week low of $12.97 and a fifty-two week high of $21.72. The firm has a market cap of $40.97 billion, a PE ratio of 14.05, a PEG ratio of 1.14 and a beta of 0.57. The company has a debt-to-equity ratio of 1.81, a current ratio of 0.94 and a quick ratio of 0.89. The company's 50-day simple moving average is $14.34 and its 200-day simple moving average is $15.70.

Pacific Gas & Electric (NYSE:PCG - Get Free Report) last released its 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 return on equity of 10.13% and a net margin of 9.95%.The firm had revenue of $5.90 billion during the quarter, compared to analyst estimates of $6.37 billion. During the same quarter last year, the business posted $0.31 EPS. The firm's revenue 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. Sell-side analysts anticipate that Pacific Gas & Electric Co. will post 1.49 earnings per share for the current year.

Pacific Gas & Electric Company 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.