Pacific Gas & Electric Co. $PCG Shares Sold by Energy Income Partners LLC

Key Points

• Energy Income Partners LLC reduced its stake in Pacific Gas & Electric Co. by 32.5%, now holding 1,297,092 shares worth approximately $22.3 million.
• Institutional investors collectively own 78.56% of Pacific Gas & Electric Co.'s stock, with several firms, including Vanguard and Canada Pension Plan Investment Board, increasing their holdings.
• Recent analyst ratings on Pacific Gas & Electric range from "buy" to "underweight," with an average price target set at $20.55 amid varied outlooks from different research firms.

Energy Income Partners LLC lessened its stake in shares of Pacific Gas & Electric Co. (NYSE:PCG - Free Report) by 32.5% in the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 1,297,092 shares of the utilities provider's stock after selling 624,032 shares during the period. Energy Income Partners LLC's holdings in Pacific Gas & Electric were worth $22,284,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors have also recently made changes to their positions in the company. Costello Asset Management INC purchased a new position in shares of Pacific Gas & Electric during the first quarter worth approximately $31,000. Deseret Mutual Benefit Administrators lifted its position in Pacific Gas & Electric by 45.0% during the first quarter. Deseret Mutual Benefit Administrators now owns 2,173 shares of the utilities provider's stock valued at $37,000 after purchasing an additional 674 shares during the period. Colonial Trust Co SC increased its holdings in Pacific Gas & Electric by 563.0% in the fourth 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 in the last quarter. Safe Harbor Fiduciary LLC purchased a new stake in shares of Pacific Gas & Electric during the first quarter worth about $39,000. Finally, Larson Financial Group LLC increased its stake in shares of Pacific Gas & Electric by 198.1% during the first quarter. Larson Financial Group LLC now owns 3,050 shares of the utilities provider's stock worth $52,000 after purchasing an additional 2,027 shares in the last quarter. Institutional investors own 78.56% of the company's stock.

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on PCG. Argus raised shares of Pacific Gas & Electric to a "hold" rating in a research note on Monday, June 16th. Zacks Research upgraded shares of Pacific Gas & Electric from a "strong sell" rating to a "hold" rating in a report on Monday, August 18th. Mizuho increased their target price on shares of Pacific Gas & Electric from $20.00 to $21.00 and gave the stock an "outperform" rating in a report on Monday, May 19th. UBS Group set a $19.00 price objective on shares of Pacific Gas & Electric in a report on Friday, August 29th. Finally, Morgan Stanley reiterated an "underweight" rating on shares of Pacific Gas & Electric in a research note 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. According to MarketBeat, Pacific Gas & Electric presently has a consensus rating of "Hold" and a consensus target price of $20.55.

Pacific Gas & Electric Trading Down 0.8%

Shares of PCG traded down $0.12 on Thursday, hitting $15.23. 17,525,488 shares of the stock traded hands, compared to its average volume of 23,424,990. 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 firm has a market capitalization of $40.74 billion, a P/E ratio of 13.97, a P/E/G ratio of 1.14 and a beta of 0.57. The stock's 50 day moving average is $14.39 and its two-hundred day moving average is $15.70. Pacific Gas & Electric Co. has a 1 year low of $12.97 and a 1 year high of $21.72.

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

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.