Freestone Grove Partners LP Purchases Shares of 1,075,793 Pacific Gas & Electric Co. $PCG

Key Points

• Freestone Grove Partners acquired 1,075,793 shares of PG&E worth approximately $18.1 million, while several other institutional investors also increased their holdings. Institutions and hedge funds collectively own 78.56% of the company.
• PG&E’s latest quarterly earnings exceeded expectations, with EPS of $0.40 versus the $0.36 consensus estimate, although revenue of $5.90 billion fell short of forecasts. The company maintained fiscal 2026 EPS guidance of $1.64–$1.66.
• Analyst sentiment remains positive but targets have been reduced, resulting in a “Moderate Buy” consensus rating and an average price target of $22.20 versus the stock’s recent price near $17.95.

Freestone Grove Partners LP purchased a new position in shares of Pacific Gas & Electric Co. (NYSE:PCG - Free Report) during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor purchased 1,075,793 shares of the utilities provider's stock, valued at approximately $18,095,000.

Several other hedge funds have also made changes to their positions in PCG. CoreCap Advisors LLC boosted its stake 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 last quarter. Fifth Third Wealth Advisors LLC increased its stake in shares of Pacific Gas & Electric by 5.7% during the 1st 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 last quarter. Versant Capital Management Inc lifted its holdings in shares of Pacific Gas & Electric by 19.6% during the 2nd quarter. Versant Capital Management Inc now owns 6,636 shares of the utilities provider's stock worth $112,000 after acquiring an additional 1,088 shares during the period. Commerzbank Aktiengesellschaft FI boosted 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 worth $687,000 after acquiring an additional 1,142 shares during the last quarter. Finally, Keating Financial Advisory Services Inc. purchased a new stake in Pacific Gas & Electric in the second quarter valued at approximately $28,000. Institutional investors and hedge funds own 78.56% of the company's stock.

Pacific Gas & Electric Stock Down 1.5%

Shares of NYSE:PCG opened at $17.95 on Friday. The company has a quick ratio of 1.15, a current ratio of 1.22 and a debt-to-equity ratio of 1.90. Pacific Gas & Electric Co. has a 52-week low of $14.34 and a 52-week high of $19.16. The company has a 50 day moving average of $17.40 and a two-hundred day moving average of $17.34. The company has a market capitalization of $48.09 billion, a price-to-earnings ratio of 13.00, a price-to-earnings-growth ratio of 1.19 and a beta of 0.28.

Pacific Gas & Electric (NYSE:PCG - Get Free Report) last posted its 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 business had revenue of $5.90 billion for the quarter, compared to analysts' expectations of $6.20 billion. Pacific Gas & Electric had a net margin of 12.25% and a return on equity of 12.48%. The business's revenue for the quarter was up .1% compared to the same quarter last year. During the same period in the previous year, the company posted $0.31 earnings per share. Pacific Gas & Electric has set its FY 2026 guidance at 1.640-1.660 EPS. As a group, analysts forecast that Pacific Gas & Electric Co. will post 1.65 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Pacific Gas & Electric news, EVP Marlene Santos sold 158,250 shares of the company's stock in a transaction dated 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 completion of the transaction, the executive vice president directly owned 230,885 shares of the company's stock, valued at $4,155,930. This represents a 40.67% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 0.22% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several analysts have recently issued reports on the stock. BMO Capital Markets lowered their price objective on shares of Pacific Gas & Electric from $28.00 to $27.00 and set an "outperform" rating for the company in a research note on Friday, July 24th. JPMorgan Chase & Co. cut their target price on Pacific Gas & Electric from $24.00 to $23.00 and set an "overweight" rating on the stock in a research report on Friday, May 15th. Weiss Ratings cut Pacific Gas & Electric from a "hold (c+)" rating to a "hold (c)" rating in a report on Thursday, June 4th. Morgan Stanley lowered their price target on Pacific Gas & Electric from $23.00 to $22.00 and set an "equal weight" rating for the company in a research report on Friday, August 21st. Finally, Truist Financial cut their price objective on Pacific Gas & Electric from $23.00 to $21.00 and set a "buy" rating on the stock in a report on Tuesday, August 4th. Seven research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company. According to MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $22.20.

Pacific Gas & Electric Company 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.

Continue following MarketBeat

Add MarketBeat as your preferred source on Google to see our latest stories in your feed.

Add As Preferred Source