Ceredex Value Advisors LLC Reduces Holdings in Pacific Gas & Electric Co. $PCG

Key Points

• Ceredex Value Advisors LLC has decreased its stake in Pacific Gas & Electric Co. by 26.5%, holding 1,466,500 shares worth approximately $25.19 million as of the latest SEC filing.
• Several institutional investors have increased their positions in Pacific Gas & Electric, with 78.56% of the stock now owned by these entities.
• The stock received mixed ratings from analysts, with a consensus rating of "Hold" and a target price of $20.55, reflecting varied outlooks on its performance.

Ceredex Value Advisors LLC lessened its holdings in Pacific Gas & Electric Co. (NYSE:PCG - Free Report) by 26.5% during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 1,466,500 shares of the utilities provider's stock after selling 528,600 shares during the period. Ceredex Value Advisors LLC owned approximately 0.05% of Pacific Gas & Electric worth $25,194,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. Costello Asset Management INC acquired a new position in Pacific Gas & Electric in the first quarter valued at about $31,000. True Wealth Design LLC raised its stake in shares of 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 acquiring an additional 1,690 shares during the period. Colonial Trust Co SC lifted 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 acquiring an additional 1,627 shares during 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 worth $37,000 after purchasing an additional 674 shares during the period. Finally, Larson Financial Group LLC increased its holdings 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 purchasing an additional 2,027 shares during the last quarter. 78.56% of the stock is owned by institutional investors and hedge funds.

Pacific Gas & Electric Stock Down 0.6%

NYSE PCG traded down $0.09 on Thursday, hitting $15.00. 16,225,867 shares of the stock were exchanged, compared to its average volume of 27,566,260. Pacific Gas & Electric Co. has a fifty-two week low of $12.97 and a fifty-two week high of $21.72. The company has a 50-day moving average price of $14.28 and a 200-day moving average price of $15.71. 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 $40.12 billion, a PE ratio of 13.76, a PEG ratio of 1.12 and a beta of 0.54.

Pacific Gas & Electric (NYSE:PCG - Get Free Report) last released its quarterly earnings data on Thursday, July 31st. The utilities provider reported $0.31 earnings per share (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 analysts' expectations of $6.37 billion. Pacific Gas & Electric had a return on equity of 10.13% and a net margin of 9.95%.Pacific Gas & Electric's revenue for the quarter was down 1.5% on a year-over-year basis. During the same period last year, the firm posted $0.31 earnings per share. 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 EPS for the current fiscal year.

Analysts Set New Price Targets

PCG has been the topic of a number of research reports. Barclays decreased their price target on Pacific Gas & Electric from $22.00 to $20.00 and set an "overweight" rating on the stock in a research note on Tuesday, July 22nd. Argus upgraded Pacific Gas & Electric to a "hold" rating in a report on Monday, June 16th. Zacks Research upgraded shares of Pacific Gas & Electric from a "strong sell" rating to a "hold" rating in a research note on Monday, August 18th. Mizuho raised 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 note on Monday, May 19th. Finally, Morgan Stanley restated an "underweight" rating on shares of Pacific Gas & Electric in a report on Thursday, August 21st. Seven analysts have rated the stock with a Buy rating, five have assigned a Hold rating and one has given a Sell rating to the company's stock. Based on data from MarketBeat.com, Pacific Gas & Electric presently has an average 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.