Intech Investment Management LLC Buys 534,741 Shares of Pacific Gas & Electric Co. $PCG

Key Points

• Intech Investment Management LLC significantly increased its stake in Pacific Gas & Electric Co. by 210.8%, owning 788,408 shares worth approximately $13.5 million as of its latest SEC filing.
• Several institutional investors, including Vanguard Group and Canada Pension Plan Investment Board, also boosted their holdings in Pacific Gas & Electric during the same quarter, reflecting strong interest among hedge funds.
• Pacific Gas & Electric recently reported an earnings miss, with $0.31 EPS against expectations of $0.33, and revenue of $5.90 billion, down 1.5% year-over-year.

Intech Investment Management LLC grew its position in shares of Pacific Gas & Electric Co. (NYSE:PCG - Free Report) by 210.8% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 788,408 shares of the utilities provider's stock after acquiring an additional 534,741 shares during the quarter. Intech Investment Management LLC's holdings in Pacific Gas & Electric were worth $13,545,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Costello Asset Management INC purchased a new stake in Pacific Gas & Electric during the 1st quarter worth about $31,000. Deseret Mutual Benefit Administrators lifted its holdings in Pacific Gas & Electric by 45.0% during the 1st quarter. Deseret Mutual Benefit Administrators now owns 2,173 shares of the utilities provider's stock worth $37,000 after purchasing an additional 674 shares in the last quarter. Safe Harbor Fiduciary LLC purchased a new stake in Pacific Gas & Electric during the 1st quarter worth about $39,000. Larson Financial Group LLC lifted its holdings in 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 purchasing an additional 2,027 shares in the last quarter. Finally, Financial Network Wealth Advisors LLC lifted its holdings in Pacific Gas & Electric by 57.7% during the 1st quarter. Financial Network Wealth Advisors LLC now owns 3,445 shares of the utilities provider's stock worth $59,000 after purchasing an additional 1,260 shares in the last quarter. Hedge funds and other institutional investors own 78.56% of the company's stock.

Pacific Gas & Electric Trading Down 1.4%

Shares of PCG stock traded down $0.22 during trading hours on Tuesday, reaching $15.13. 4,759,189 shares of the stock traded hands, compared to its average volume of 23,849,051. 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 business has a fifty day moving average price of $14.60 and a 200 day moving average price of $15.66. The firm has a market capitalization of $40.47 billion, a PE ratio of 13.89, a PEG ratio of 1.15 and a beta of 0.57. 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 issued 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 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 the consensus estimate of $6.37 billion. During the same period last year, the company earned $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, equities research analysts forecast that Pacific Gas & Electric Co. will post 1.49 EPS for the current year.

Wall Street Analyst Weigh In

A number of brokerages have weighed in on PCG. UBS Group set a $19.00 target price on Pacific Gas & Electric in a research note on Friday, August 29th. Argus upgraded Pacific Gas & Electric to a "hold" rating in a report on Monday, June 16th. Mizuho raised their target price on Pacific Gas & Electric from $20.00 to $21.00 and gave the company an "outperform" rating in a research note on Monday, May 19th. Barclays reduced their target price on Pacific Gas & Electric from $22.00 to $20.00 and set an "overweight" rating for the company in a report on Tuesday, July 22nd. Finally, Zacks Research upgraded Pacific Gas & Electric from a "strong sell" rating to a "hold" rating in a research report on Monday, August 18th. Six analysts have rated the stock with a Buy rating, five have assigned a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, the stock has an average rating of "Hold" and an average target price of $20.20.

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.