Pacific Gas & Electric Co. $PCG Shares Purchased by Federation des caisses Desjardins du Quebec

Key Points

• Federation des caisses Desjardins du Quebec increased its holdings in Pacific Gas & Electric Co. by 56.2%, acquiring 47,361 additional shares, bringing their total to 131,591 shares worth $2,261,000.
• Several hedge funds, including Captrust Financial Advisors and Colonial Trust Co SC, have also boosted their stakes in Pacific Gas & Electric, reflecting strong interest among institutional investors who now own 78.56% of the company's stock.
• Wall Street analysts have mixed ratings on Pacific Gas & Electric, with a consensus rating of "Hold" and a target price of $20.55, although Zacks has recently improved its rating from "strong sell" to "hold."

Federation des caisses Desjardins du Quebec increased its position in shares of Pacific Gas & Electric Co. (NYSE:PCG - Free Report) by 56.2% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 131,591 shares of the utilities provider's stock after purchasing an additional 47,361 shares during the period. Federation des caisses Desjardins du Quebec's holdings in Pacific Gas & Electric were worth $2,261,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the company. Deseret Mutual Benefit Administrators boosted its stake 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 worth $37,000 after buying an additional 674 shares during the period. Farther Finance Advisors LLC boosted its stake in Pacific Gas & Electric by 1.9% during the first quarter. Farther Finance Advisors LLC now owns 42,747 shares of the utilities provider's stock worth $738,000 after buying an additional 785 shares during the period. Parallel Advisors LLC boosted its stake in Pacific Gas & Electric by 2.4% during the first quarter. Parallel Advisors LLC now owns 38,625 shares of the utilities provider's stock worth $664,000 after buying an additional 887 shares during the period. Oregon Public Employees Retirement Fund boosted its stake in Pacific Gas & Electric by 0.5% during the first quarter. Oregon Public Employees Retirement Fund now owns 188,411 shares of the utilities provider's stock worth $3,237,000 after buying an additional 1,010 shares during the period. Finally, Gemmer Asset Management LLC boosted its stake in Pacific Gas & Electric by 3.0% during the first quarter. Gemmer Asset Management LLC now owns 39,772 shares of the utilities provider's stock worth $683,000 after buying an additional 1,165 shares during the period. 78.56% of the stock is currently owned by institutional investors and hedge funds.

Pacific Gas & Electric Stock Down 1.7%

Shares of NYSE PCG traded down $0.26 during midday trading on Friday, hitting $15.47. The company's stock had a trading volume of 26,878,334 shares, compared to its average volume of 25,565,096. The business's fifty day simple moving average is $14.56 and its two-hundred day simple moving average is $15.67. The company has a debt-to-equity ratio of 1.81, a current ratio of 0.94 and a quick ratio of 0.89. Pacific Gas & Electric Co. has a 1 year low of $12.97 and a 1 year high of $21.72. The firm has a market capitalization of $41.39 billion, a price-to-earnings ratio of 14.19, a price-to-earnings-growth ratio of 1.17 and a beta of 0.57.

Pacific Gas & Electric (NYSE:PCG - Get Free Report) last posted its quarterly earnings data on Thursday, July 31st. The utilities provider reported $0.31 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 business had revenue of $5.90 billion during the quarter, compared to analysts' expectations of $6.37 billion. During the same period in the previous year, the business posted $0.31 EPS. The company's revenue for the quarter 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. On average, equities analysts predict that Pacific Gas & Electric Co. will post 1.49 EPS for the current year.

Wall Street Analyst Weigh In

Several research analysts have weighed in on the stock. Morgan Stanley reaffirmed an "underweight" rating on shares of Pacific Gas & Electric in a research note on Thursday, August 21st. Zacks Research raised shares of Pacific Gas & Electric from a "strong sell" rating to a "hold" rating in a research note on Monday, August 18th. Barclays lowered their target price on shares of Pacific Gas & Electric from $22.00 to $20.00 and set an "overweight" rating for the company in a research note on Tuesday, July 22nd. Argus raised shares of Pacific Gas & Electric to a "hold" rating in a research note on Monday, June 16th. Finally, 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 research note on Monday, May 19th. Six analysts have rated the stock with a Buy rating, five have given a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, the company presently has an average rating of "Hold" and a consensus target price of $20.20.

Pacific Gas & Electric Company 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.