Daiichi Life Insurance Co. Ltd. Buys New Stake in Pacific Gas & Electric Co. $PCG

Daiichi Life Insurance Co. Ltd. bought a new stake in Pacific Gas & Electric Co. (NYSE:PCG - Free Report) in the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm bought 71,309 shares of the utilities provider's stock, valued at approximately $1,199,000.

Several other institutional investors and hedge funds have also bought and sold shares of PCG. Focus Partners Advisor Solutions LLC purchased a new stake in shares of Pacific Gas & Electric during the 2nd quarter valued at $4,044,000. PFA Pension Forsikringsaktieselskab purchased a new position in Pacific Gas & Electric during the 4th quarter worth $1,898,000. Harrison Street Private Wealth LLC purchased a new position in Pacific Gas & Electric during the 1st quarter worth $3,643,000. Horizon Investments LLC increased its position in Pacific Gas & Electric by 69.7% during the 4th quarter. Horizon Investments LLC now owns 164,784 shares of the utilities provider's stock valued at $2,648,000 after buying an additional 67,677 shares in the last quarter. Finally, Geode Capital Management LLC increased its position in Pacific Gas & Electric by 1.9% during the 4th quarter. Geode Capital Management LLC now owns 62,134,132 shares of the utilities provider's stock valued at $1,019,297,000 after buying an additional 1,132,249 shares in the last quarter. 78.56% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Pacific Gas & Electric

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

Pacific Gas & Electric Stock Performance

Shares of PCG stock opened at $18.10 on Tuesday. The firm has a market capitalization of $48.50 billion, a price-to-earnings ratio of 13.11, a price-to-earnings-growth ratio of 1.14 and a beta of 0.28. The company has a debt-to-equity ratio of 1.90, a current ratio of 1.22 and a quick ratio of 1.15. The business has a fifty day moving average of $17.31 and a 200 day moving average of $17.30. Pacific Gas & Electric Co. has a 1 year low of $14.34 and a 1 year high of $19.16.

Pacific Gas & Electric (NYSE:PCG - Get Free Report) last issued its quarterly earnings results on Thursday, July 23rd. The utilities provider reported $0.40 EPS for the quarter, topping analysts' consensus estimates of $0.36 by $0.04. The company 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 was up .1% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.31 EPS. Pacific Gas & Electric has set its FY 2026 guidance at 1.640-1.660 EPS. As a group, research analysts expect that Pacific Gas & Electric Co. will post 1.65 earnings per share for the current year.

Analyst Upgrades and Downgrades

PCG has been the subject of several recent analyst reports. JPMorgan Chase & Co. lowered their price target on Pacific Gas & Electric from $24.00 to $23.00 and set an "overweight" rating for the company in a report on Friday, May 15th. Truist Financial cut 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 report on Tuesday, August 4th. Weiss Ratings lowered shares of Pacific Gas & Electric from a "hold (c+)" rating to a "hold (c)" rating in a research report on Thursday, June 4th. Wall Street Zen cut shares of Pacific Gas & Electric from a "buy" rating to a "hold" rating in a research note on Saturday, July 25th. Finally, UBS Group reissued a "buy" rating on shares of Pacific Gas & Electric in a research report on Tuesday, August 18th. Seven research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the stock. According to MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average target price of $22.20.

Pacific Gas & Electric Profile

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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