Corient Private Wealth LP Invests $4.23 Million in Pacific Gas & Electric Co. $PCG

Key Points

• Corient Private Wealth purchased 251,521 PG&E shares worth approximately $4.23 million in the second quarter. Institutional investors collectively own 78.56% of the utility’s stock.
• Analyst sentiment is mixed, with five Buy ratings and six Hold ratings; the consensus rating is Hold with a $21 price target. Several firms recently lowered their targets amid concerns about wildfire liability and California’s amended Senate Bill 492.
• PG&E reported quarterly EPS of $0.40, beating estimates of $0.36, while revenue of $5.90 billion fell short of expectations. Shares opened at $13.27, near the company’s 12-month low of $13.09.

Corient Private Wealth LP purchased a new stake in shares of Pacific Gas & Electric Co. (NYSE:PCG - Free Report) during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund purchased 251,521 shares of the utilities provider's stock, valued at approximately $4,231,000.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. CoreCap Advisors LLC boosted its holdings in Pacific Gas & Electric by 13.1% in the 2nd quarter. CoreCap Advisors LLC now owns 5,843 shares of the utilities provider's stock worth $98,000 after buying an additional 677 shares during the period. Fifth Third Wealth Advisors LLC raised its holdings in Pacific Gas & Electric by 5.7% during the first quarter. Fifth Third Wealth Advisors LLC now owns 16,368 shares of the utilities provider's stock valued at $288,000 after acquiring an additional 885 shares during the period. Versant Capital Management Inc raised its holdings in Pacific Gas & Electric by 19.6% during the second quarter. Versant Capital Management Inc now owns 6,636 shares of the utilities provider's stock valued at $112,000 after acquiring an additional 1,088 shares during the period. Commerzbank Aktiengesellschaft FI lifted its position in shares of Pacific Gas & Electric by 2.7% in the fourth quarter. Commerzbank Aktiengesellschaft FI now owns 42,734 shares of the utilities provider's stock valued at $687,000 after acquiring an additional 1,142 shares in the last quarter. Finally, Keating Financial Advisory Services Inc. purchased a new position in shares of Pacific Gas & Electric in the second quarter valued at about $28,000. 78.56% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In related news, EVP Marlene Santos sold 158,250 shares of the business's stock in a transaction on Wednesday, July 22nd. The shares were sold at an average price of $18.00, for a total value of $2,848,500.00. Following the sale, the executive vice president owned 230,885 shares in the company, valued at approximately $4,155,930. The trade was a 40.67% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Corporate insiders own 0.22% of the company's stock.

Analyst Upgrades and Downgrades

PCG has been the subject of several research analyst reports. UBS Group reiterated a "buy" rating on shares of Pacific Gas & Electric in a research report on Tuesday, August 18th. Wall Street Zen cut Pacific Gas & Electric from a "buy" rating to a "hold" rating in a report on Saturday, July 25th. BMO Capital Markets restated a "market perform" rating and issued a $21.00 price target (down from $28.00) on shares of Pacific Gas & Electric in a research note on Monday. JPMorgan Chase & Co. cut their price objective on shares of Pacific Gas & Electric from $24.00 to $23.00 and set an "overweight" rating for the company in a report on Friday, May 15th. Finally, Truist Financial reduced their price objective on shares of Pacific Gas & Electric from $23.00 to $21.00 and set a "buy" rating on the stock in a research report on Tuesday, August 4th. Five equities research analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company's stock. According to data from MarketBeat, the company presently has a consensus rating of "Hold" and a consensus target price of $21.00.

Key Headlines Impacting Pacific Gas & Electric

Here are the key news stories impacting Pacific Gas & Electric this week:

• Neutral Sentiment: Wells Fargo reaffirmed its “equal weight” rating but lowered its price target to $24 from $25. Mizuho likewise maintained a “neutral” rating while cutting its target to $16 from $21. Both targets remain above the recent trading level, but the reductions reflect heightened risk concerns. Analyst rating updates
• Neutral Sentiment: PG&E issued a statement regarding Senate Bill 492 after California lawmakers advanced an amended version. The company’s response is being watched closely as investors assess the bill’s effects on utility financing and wildfire claims. PG&E Statement on Senate Bill 492
• Negative Sentiment: The amended wildfire bill reportedly omits liability protections sought by utility investors, including a proposal that would have prevented insurers from suing utilities over wildfire-related claims. Analysts said the legislation prioritizes victim protections without adding comparable investor protections, leaving PG&E exposed to potentially significant costs if its equipment is linked to future fires. PG&E shares plunge as wildfire bill falls short of protections
• Negative Sentiment: The liability setback also pressured Edison International and other California utilities, highlighting that investors view the issue as a broader regulatory and industry risk. The selloff occurred amid a volatile market session in which oil prices approached $90 per barrel and Treasury yields rose following renewed U.S.-Iran tensions, although the wildfire legislation was the primary PCG-specific catalyst. California utilities face wildfire-liability concerns

Pacific Gas & Electric Price Performance

NYSE:PCG opened at $13.27 on Tuesday. The business's 50-day moving average is $17.34 and its 200 day moving average is $17.32. Pacific Gas & Electric Co. has a 12 month low of $13.09 and a 12 month high of $19.16. The company has a market capitalization of $35.57 billion, a P/E ratio of 9.62, a P/E/G ratio of 1.08 and a beta of 0.28. The company has a current ratio of 1.22, a quick ratio of 1.15 and a debt-to-equity ratio of 1.90.

Pacific Gas & Electric (NYSE:PCG - Get Free Report) last released its quarterly earnings results on Thursday, July 23rd. The utilities provider reported $0.40 earnings per share for the quarter, beating the consensus estimate of $0.36 by $0.04. The business had revenue of $5.90 billion during the quarter, compared to analysts' expectations of $6.20 billion. Pacific Gas & Electric had a return on equity of 12.48% and a net margin of 12.25%.The firm's revenue for the quarter was up .1% compared to the same quarter last year. During the same quarter last year, the business posted $0.31 EPS. Pacific Gas & Electric has set its FY 2026 guidance at 1.640-1.660 EPS. On average, equities research analysts forecast that Pacific Gas & Electric Co. will post 1.65 earnings per share for the current fiscal year.

About Pacific Gas & Electric

Pacific Gas & Electric NYSE: PCG is an investor-owned utility holding company whose principal operating subsidiary, Pacific Gas and Electric Company, provides electricity and natural gas service in northern and central California. The company's core activities include the generation, procurement, transmission and distribution of electric power, as well as the transmission and distribution of natural gas. PG&E serves a broad mix of residential, commercial, and industrial customers across urban and rural communities within its California service territory.

PG&E's operations encompass utility infrastructure planning and construction, grid operations, customer service and energy procurement.

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