Pacific Gas & Electric Co. $PCG Shares Acquired by HighTower Advisors LLC

Key Points

• HighTower Advisors LLC significantly increased its stake in Pacific Gas & Electric Co. by 68.0%, owning 254,881 shares valued at $4.38 million.
• The company's quarterly earnings report showed an EPS of $0.31, missing estimates, with revenue down 1.5% year-over-year.
• Pacific Gas & Electric recently declared a quarterly dividend of $0.025, resulting in an annualized dividend yield of 0.6%.

HighTower Advisors LLC increased its holdings in shares of Pacific Gas & Electric Co. (NYSE:PCG - Free Report) by 68.0% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 254,881 shares of the utilities provider's stock after purchasing an additional 103,211 shares during the quarter. HighTower Advisors LLC's holdings in Pacific Gas & Electric were worth $4,379,000 at the end of the most recent reporting period.

Other hedge funds also recently bought and sold shares of the company. Costello Asset Management INC acquired a new position in Pacific Gas & Electric during the first quarter worth $31,000. True Wealth Design LLC raised its position in shares of Pacific Gas & Electric by 1,233.6% during the 4th quarter. True Wealth Design LLC now owns 1,827 shares of the utilities provider's stock worth $37,000 after acquiring an additional 1,690 shares in the last quarter. Deseret Mutual Benefit Administrators increased its stake in Pacific Gas & Electric by 45.0% in 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 last quarter. Colonial Trust Co SC raised its holdings in Pacific Gas & Electric by 563.0% during the fourth quarter. Colonial Trust Co SC now owns 1,916 shares of the utilities provider's stock worth $39,000 after purchasing an additional 1,627 shares in the last quarter. Finally, Larson Financial Group LLC lifted its position in shares of Pacific Gas & Electric by 198.1% during the 1st quarter. Larson Financial Group LLC now owns 3,050 shares of the utilities provider's stock worth $52,000 after buying an additional 2,027 shares during the last quarter. Hedge funds and other institutional investors own 78.56% of the company's stock.

Wall Street Analyst Weigh In

Several equities research analysts recently commented on PCG shares. Morgan Stanley set a $18.00 price target on shares of Pacific Gas & Electric and gave the stock an "underweight" rating in a research note on Thursday, May 22nd. Barclays cut their target price on Pacific Gas & Electric from $22.00 to $20.00 and set an "overweight" rating on the stock in a research report on Tuesday, July 22nd. Argus upgraded shares of Pacific Gas & Electric to a "hold" rating in a research report on Monday, June 16th. Evercore ISI increased their price target on shares of Pacific Gas & Electric from $15.00 to $17.00 and gave the stock an "in-line" rating in a research note on Monday, April 28th. Finally, Zacks Research raised shares of Pacific Gas & Electric from a "strong sell" rating to a "hold" rating in a research report on Monday, August 18th. Seven equities research analysts have rated the stock with a Buy rating, five have given a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of "Hold" and an average target price of $20.55.

Pacific Gas & Electric Stock Performance

NYSE:PCG traded down $0.1950 during mid-day trading on Monday, reaching $14.9950. The stock had a trading volume of 5,687,469 shares, compared to its average volume of 23,678,729. The business has a 50 day simple moving average of $14.19 and a 200 day simple moving average of $15.73. Pacific Gas & Electric Co. has a twelve month low of $12.97 and a twelve month high of $21.72. The firm has a market capitalization of $40.12 billion, a price-to-earnings ratio of 13.74, a PEG ratio of 1.13 and a beta of 0.54. The company has a debt-to-equity ratio of 1.81, a quick ratio of 0.89 and a current ratio of 0.94.

Pacific Gas & Electric (NYSE:PCG - Get Free Report) last issued its earnings results 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 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 quarter in the previous year, the firm posted $0.31 earnings per share. Pacific Gas & Electric'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. On average, analysts expect that Pacific Gas & Electric Co. will post 1.49 earnings per share for the current fiscal 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.