Candriam S.C.A. Sells 79,986 Shares of Pacific Gas & Electric Co. $PCG

Key Points

• Candriam S.C.A. sold 79,986 shares of Pacific Gas & Electric Co., reducing its stake by 28.7%, leaving it with 199,141 shares valued at approximately $3.42 million.
• Pacific Gas & Electric's stock recently traded at $15.1650 and reported an EPS of $0.31, missing analyst estimates of $0.33.
• Analysts have given Pacific Gas & Electric an average rating of "Hold" with a consensus target price of $20.55, following upgrades and downgrades from various equity analysts.

Candriam S.C.A. cut its stake in Pacific Gas & Electric Co. (NYSE:PCG - Free Report) by 28.7% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 199,141 shares of the utilities provider's stock after selling 79,986 shares during the period. Candriam S.C.A.'s holdings in Pacific Gas & Electric were worth $3,421,000 at the end of the most recent quarter.

Other institutional investors have also added to or reduced their stakes in the company. Costello Asset Management INC bought a new stake in Pacific Gas & Electric in the first quarter valued at approximately $31,000. True Wealth Design LLC boosted its holdings in Pacific Gas & Electric by 1,233.6% in the fourth quarter. True Wealth Design LLC now owns 1,827 shares of the utilities provider's stock valued at $37,000 after acquiring an additional 1,690 shares during the last quarter. Colonial Trust Co SC boosted its position in shares of Pacific Gas & Electric by 563.0% during the 4th quarter. Colonial Trust Co SC now owns 1,916 shares of the utilities provider's stock valued at $39,000 after purchasing an additional 1,627 shares in the last quarter. Deseret Mutual Benefit Administrators boosted its position 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 in the last quarter. Finally, Larson Financial Group LLC boosted its position in shares of Pacific Gas & Electric by 198.1% during the 1st quarter. Larson Financial Group LLC now owns 3,050 shares of the utilities provider's stock valued at $52,000 after purchasing an additional 2,027 shares in the last quarter. 78.56% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several brokerages recently commented on PCG. Zacks Research upgraded Pacific Gas & Electric from a "strong sell" rating to a "hold" rating in a research report on Monday, August 18th. Mizuho increased their price target on Pacific Gas & Electric from $20.00 to $21.00 and gave the stock an "outperform" rating in a report on Monday, May 19th. Morgan Stanley restated an "underweight" rating on shares of Pacific Gas & Electric in a report on Thursday, August 21st. Barclays cut their price target on Pacific Gas & Electric from $22.00 to $20.00 and set an "overweight" rating on the stock in a report on Tuesday, July 22nd. Finally, Argus upgraded Pacific Gas & Electric to a "hold" rating in a report on Monday, June 16th. Seven investment analysts have rated the stock with a Buy rating, five have given a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of "Hold" and a consensus target price of $20.55.

Pacific Gas & Electric Stock Up 0.4%

NYSE PCG traded up $0.06 during trading hours on Wednesday, hitting $15.11. The company's stock had a trading volume of 14,524,391 shares, compared to its average volume of 23,655,623. Pacific Gas & Electric Co. has a 52 week low of $12.97 and a 52 week high of $21.72. The company has a market capitalization of $40.41 billion, a PE ratio of 13.86, a price-to-earnings-growth ratio of 1.11 and a beta of 0.54. The company has a current ratio of 0.94, a quick ratio of 0.89 and a debt-to-equity ratio of 1.81. The company's 50-day simple moving average is $14.24 and its two-hundred day simple moving average is $15.72.

Pacific Gas & Electric (NYSE:PCG - Get Free Report) last announced its quarterly 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). Pacific Gas & Electric had a net margin of 9.95% and a return on equity of 10.13%. The business had revenue of $5.90 billion during the quarter, compared to the consensus estimate of $6.37 billion. During the same period in the previous year, the business posted $0.31 EPS. Pacific Gas & Electric's revenue was down 1.5% compared to the same quarter last year. Pacific Gas & Electric has set its FY 2025 guidance at 1.480-1.520 EPS. Research analysts anticipate that Pacific Gas & Electric Co. will post 1.49 EPS for the current fiscal 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.