Pacific Gas & Electric Co. $PCG Shares Sold by Cbre Investment Management Listed Real Assets LLC

Key Points

• Cbre Investment Management Listed Real Assets LLC has reduced its holdings in Pacific Gas & Electric Co. by 13.7%, selling 858,889 shares during the first quarter.
• Pacific Gas & Electric reported $0.31 earnings per share (EPS) for the last quarter, falling short of the consensus estimate of $0.33, with revenue also down 1.5% year-over-year.
• Analysts' consensus rating for Pacific Gas & Electric is currently a "Hold", with a target price averaging around $20.55.

Cbre Investment Management Listed Real Assets LLC cut its holdings in Pacific Gas & Electric Co. (NYSE:PCG - Free Report) by 13.7% during the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 5,431,258 shares of the utilities provider's stock after selling 858,889 shares during the period. Pacific Gas & Electric comprises 1.4% of Cbre Investment Management Listed Real Assets LLC's holdings, making the stock its 20th largest holding. Cbre Investment Management Listed Real Assets LLC owned approximately 0.20% of Pacific Gas & Electric worth $93,309,000 as of its most recent SEC filing.

A number of other large investors have also recently made changes to their positions in PCG. Costello Asset Management INC purchased a new position in shares of Pacific Gas & Electric during the 1st quarter worth about $31,000. True Wealth Design LLC boosted its position in Pacific Gas & Electric by 1,233.6% in the 4th quarter. True Wealth Design LLC now owns 1,827 shares of the utilities provider's stock valued at $37,000 after buying an additional 1,690 shares during the period. Deseret Mutual Benefit Administrators boosted its position in Pacific Gas & Electric by 45.0% in the 1st quarter. Deseret Mutual Benefit Administrators now owns 2,173 shares of the utilities provider's stock valued at $37,000 after buying an additional 674 shares during the period. Colonial Trust Co SC boosted its position in 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 valued at $39,000 after buying an additional 1,627 shares during the period. Finally, Larson Financial Group LLC boosted its position in Pacific Gas & Electric by 198.1% in the 1st 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 currently owned by institutional investors.

Pacific Gas & Electric Stock Up 0.4%

Shares of NYSE PCG traded up $0.06 during trading hours on Wednesday, hitting $15.11. 14,622,027 shares of the stock were exchanged, compared to its average volume of 23,681,551. 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 company has a market cap of $40.41 billion, a PE ratio of 13.86, a PEG ratio of 1.11 and a beta of 0.54. The firm has a fifty day moving average price of $14.24 and a 200-day moving average price of $15.72. Pacific Gas & Electric Co. has a 12 month low of $12.97 and a 12 month high of $21.72.

Pacific Gas & Electric (NYSE:PCG - Get Free Report) last posted its quarterly earnings data on Thursday, July 31st. The utilities provider reported $0.31 EPS for the quarter, missing the consensus estimate of $0.33 by ($0.02). The firm had revenue of $5.90 billion for the quarter, compared to the consensus estimate of $6.37 billion. Pacific Gas & Electric had a return on equity of 10.13% and a net margin of 9.95%.The company's revenue was down 1.5% compared to the same quarter last year. During the same quarter last year, the firm earned $0.31 EPS. Pacific Gas & Electric has set its FY 2025 guidance at 1.480-1.520 EPS. On average, sell-side analysts expect that Pacific Gas & Electric Co. will post 1.49 EPS for the current year.

Wall Street Analyst Weigh In

Several equities research analysts have issued reports on PCG shares. Zacks Research raised shares of Pacific Gas & Electric from a "strong sell" rating to a "hold" rating in a research report on Monday, August 18th. Mizuho boosted their price objective 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. Argus raised shares of Pacific Gas & Electric to a "hold" rating in a research report on Monday, June 16th. Barclays reduced their price target on shares of Pacific Gas & Electric from $22.00 to $20.00 and set an "overweight" rating for the company in a report on Tuesday, July 22nd. Finally, Morgan Stanley restated an "underweight" rating on shares of Pacific Gas & Electric in a report on Thursday, August 21st. Seven research analysts have rated the stock with a Buy rating, five have assigned a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Hold" and a consensus price target of $20.55.

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.