Electron Capital Partners LLC Trims Stock Position in Pacific Gas & Electric Co. $PCG

Key Points

• Electron Capital Partners LLC has reduced its stake in Pacific Gas & Electric Co. by 54.9%, selling 2,559,183 shares and now holding approximately 2.4% of the company's total stock.
• Pacific Gas & Electric recently reported earnings of $0.31 per share, missing the consensus estimate, with a revenue of $5.90 billion for the quarter, a decrease from the previous year.
• Analysts have given Pacific Gas & Electric a consensus rating of "Hold" with an average target price of $20.55, while institutional investors own 78.56% of the company's stock.

Electron Capital Partners LLC lessened its stake in Pacific Gas & Electric Co. (NYSE:PCG - Free Report) by 54.9% during the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 2,100,546 shares of the utilities provider's stock after selling 2,559,183 shares during the period. Pacific Gas & Electric accounts for about 2.4% of Electron Capital Partners LLC's holdings, making the stock its 15th biggest position. Electron Capital Partners LLC owned approximately 0.08% of Pacific Gas & Electric worth $36,087,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also recently added to or reduced their stakes in the stock. Alliancebernstein L.P. increased its position in Pacific Gas & Electric by 2.0% in the 1st quarter. Alliancebernstein L.P. now owns 2,382,058 shares of the utilities provider's stock valued at $40,924,000 after acquiring an additional 45,806 shares during the period. AQR Capital Management LLC increased its holdings in shares of Pacific Gas & Electric by 317.2% in the first quarter. AQR Capital Management LLC now owns 16,464,333 shares of the utilities provider's stock valued at $280,305,000 after purchasing an additional 12,518,011 shares during the period. ATLAS Infrastructure Partners UK Ltd. increased its holdings in shares of Pacific Gas & Electric by 193.4% in the first quarter. ATLAS Infrastructure Partners UK Ltd. now owns 10,428,328 shares of the utilities provider's stock valued at $179,159,000 after purchasing an additional 6,873,576 shares during the period. Federation des caisses Desjardins du Quebec increased its holdings in shares of Pacific Gas & Electric by 56.2% in the first quarter. Federation des caisses Desjardins du Quebec now owns 131,591 shares of the utilities provider's stock valued at $2,261,000 after purchasing an additional 47,361 shares during the period. Finally, Focus Partners Advisor Solutions LLC acquired a new position in shares of Pacific Gas & Electric in the first quarter valued at approximately $816,000. Institutional investors and hedge funds own 78.56% of the company's stock.

Pacific Gas & Electric Price Performance

Shares of NYSE:PCG traded down $0.56 on Monday, hitting $14.54. The company had a trading volume of 31,403,428 shares, compared to its average volume of 23,480,184. The company has a current ratio of 0.94, a quick ratio of 0.89 and a debt-to-equity ratio of 1.81. Pacific Gas & Electric Co. has a 52-week low of $12.97 and a 52-week high of $21.72. The business has a 50 day moving average of $14.44 and a 200 day moving average of $15.70. The company has a market cap of $38.89 billion, a PE ratio of 13.33, a PEG ratio of 1.12 and a beta of 0.57.

Pacific Gas & Electric (NYSE:PCG - Get Free Report) last issued 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). Pacific Gas & Electric had a net margin of 9.95% and a return on equity of 10.13%. The company had revenue of $5.90 billion during the quarter, compared to analysts' expectations of $6.37 billion. During the same quarter in the prior year, the company earned $0.31 earnings per share. The firm's revenue was down 1.5% compared to the same quarter last year. Pacific Gas & Electric has set its FY 2025 guidance at 1.480-1.520 EPS. As a group, equities analysts anticipate that Pacific Gas & Electric Co. will post 1.49 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of research analysts have recently issued reports on PCG shares. 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. Mizuho boosted 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. Barclays dropped their price objective 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. Finally, UBS Group set a $19.00 price objective on Pacific Gas & Electric in a report on Friday, August 29th. Seven investment analysts have rated the stock with a Buy rating, five have issued a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, the stock currently has an average rating of "Hold" and a consensus target price 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.