Intech Investment Management LLC Purchases 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 raised its position in shares of Pacific Gas & Electric Co. (NYSE:PCG - Free Report) by 210.8% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 788,408 shares of the utilities provider's stock after buying 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 SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. Costello Asset Management INC purchased a new position in Pacific Gas & Electric during the 1st quarter valued at approximately $31,000. Deseret Mutual Benefit Administrators grew 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 valued at $37,000 after buying an additional 674 shares in the last quarter. Safe Harbor Fiduciary LLC purchased a new position in Pacific Gas & Electric during the 1st quarter valued at approximately $39,000. Larson Financial Group LLC grew 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 valued at $52,000 after buying an additional 2,027 shares in the last quarter. Finally, Financial Network Wealth Advisors LLC grew 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 valued at $59,000 after buying 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 1.7%

Shares of PCG stock traded down $0.26 on Friday, reaching $15.47. 26,878,334 shares of the company's stock were exchanged, compared to its average volume of 25,565,096. Pacific Gas & Electric Co. has a 52 week low of $12.97 and a 52 week high of $21.72. The company has a current ratio of 0.94, a quick ratio of 0.89 and a debt-to-equity ratio of 1.81. The stock has a market capitalization of $41.39 billion, a PE ratio of 14.19, a P/E/G ratio of 1.17 and a beta of 0.57. The company's fifty day simple moving average is $14.56 and its 200 day simple moving average is $15.67.

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 (EPS) 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 business had revenue of $5.90 billion for the quarter, compared to the consensus estimate of $6.37 billion. During the same period in the prior year, the business posted $0.31 earnings per share. Pacific Gas & Electric's revenue 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, analysts forecast that Pacific Gas & Electric Co. will post 1.49 EPS for the current year.

Analysts Set New Price Targets

Several equities analysts have weighed in on PCG shares. Morgan Stanley restated an "underweight" rating on shares of Pacific Gas & Electric in a report on Thursday, August 21st. Argus upgraded Pacific Gas & Electric to a "hold" rating in a report on Monday, June 16th. Zacks Research raised Pacific Gas & Electric from a "strong sell" rating to a "hold" rating in a research note on Monday, August 18th. Barclays lowered their price objective on 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. Finally, UBS Group set a $19.00 price objective on Pacific Gas & Electric in a research note on Friday, August 29th. Six 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 company's stock. According to MarketBeat.com, Pacific Gas & Electric currently has a consensus rating of "Hold" and a consensus 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.