Causeway Capital Management LLC Grows Position in Pacific Gas & Electric Co. $PCG

Key Points

• Causeway Capital Management LLC has increased its stake in Pacific Gas & Electric Co. by 1.8%, owning 2,567,270 shares worth approximately $44.1 million, accounting for 0.9% of its investment portfolio.
• Analysts have mixed views on Pacific Gas & Electric, with a consensus price target of $20.55; Barclays lowered its target from $22 to $20, while Mizuho raised it from $20 to $21.
• Pacific Gas & Electric reported earnings of $0.31 per share, missing estimates by $0.02, with revenue of $5.90 billion, down 1.5% year-over-year.

Causeway Capital Management LLC increased its holdings in shares of Pacific Gas & Electric Co. (NYSE:PCG - Free Report) by 1.8% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 2,567,270 shares of the utilities provider's stock after acquiring an additional 46,597 shares during the period. Pacific Gas & Electric makes up approximately 0.9% of Causeway Capital Management LLC's portfolio, making the stock its 28th biggest holding. Causeway Capital Management LLC owned 0.10% of Pacific Gas & Electric worth $44,106,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Zimmer Partners LP grew its holdings in Pacific Gas & Electric by 84.9% in the fourth quarter. Zimmer Partners LP now owns 12,661,324 shares of the utilities provider's stock valued at $255,506,000 after purchasing an additional 5,814,624 shares during the last quarter. Vanguard Group Inc. grew its holdings in Pacific Gas & Electric by 1.2% in the first quarter. Vanguard Group Inc. now owns 257,285,352 shares of the utilities provider's stock valued at $4,420,162,000 after purchasing an additional 2,926,384 shares during the last quarter. Zurich Insurance Group Ltd FI grew its holdings in Pacific Gas & Electric by 272.5% in the fourth quarter. Zurich Insurance Group Ltd FI now owns 3,560,305 shares of the utilities provider's stock valued at $71,847,000 after purchasing an additional 2,604,445 shares during the last quarter. Aberdeen Group plc grew its holdings in Pacific Gas & Electric by 151.4% in the first quarter. Aberdeen Group plc now owns 4,077,811 shares of the utilities provider's stock valued at $69,506,000 after purchasing an additional 2,455,807 shares during the last quarter. Finally, BROOKFIELD Corp ON grew its holdings in Pacific Gas & Electric by 16.2% in 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. Institutional investors and hedge funds own 78.56% of the company's stock.

Analyst Ratings Changes

PCG has been the topic of several research reports. Mizuho upped their target price on Pacific Gas & Electric from $20.00 to $21.00 and gave the company an "outperform" rating in a report on Monday, May 19th. Zacks Research raised Pacific Gas & Electric from a "strong sell" rating to a "hold" rating in a report on Monday, August 18th. Argus raised Pacific Gas & Electric to a "hold" rating in a report on Monday, June 16th. Morgan Stanley reissued an "underweight" rating on shares of Pacific Gas & Electric in a report on Thursday, August 21st. Finally, Barclays lowered their target price 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. 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 stock. According to MarketBeat.com, the company presently has a consensus rating of "Hold" and a consensus price target of $20.55.

Pacific Gas & Electric Trading Down 0.6%

NYSE PCG traded down $0.09 during trading hours on Thursday, hitting $15.00. 16,225,867 shares of the company's stock were exchanged, compared to its average volume of 27,566,260. The business's 50 day moving average is $14.28 and its 200-day moving average is $15.71. Pacific Gas & Electric Co. has a 12-month low of $12.97 and a 12-month high of $21.72. The firm has a market capitalization of $40.12 billion, a P/E ratio of 13.76, a price-to-earnings-growth ratio of 1.12 and a beta of 0.54. 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 (NYSE:PCG - Get Free Report) last released 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 business had revenue of $5.90 billion for the quarter, compared to analysts' expectations of $6.37 billion. Pacific Gas & Electric had a return on equity of 10.13% and a net margin of 9.95%.The business's quarterly revenue was down 1.5% compared to the same quarter last year. During the same quarter last year, the company posted $0.31 earnings per share. Pacific Gas & Electric has set its FY 2025 guidance at 1.480-1.520 EPS. As a group, analysts anticipate that Pacific Gas & Electric Co. will post 1.49 EPS for the current fiscal 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.