Pacific Gas & Electric Co. $PCG Stake Lifted by Korea Investment CORP

Key Points

• Korea Investment CORP has increased its holdings in Pacific Gas & Electric Co. by 42.1%, acquiring an additional 632,072 shares during the first quarter, bringing its total ownership to 2,133,402 shares valued at approximately $36.65 million.
• The company reported $0.31 earnings per share, missing analysts' expectations of $0.33, with revenue for the quarter at $5.90 billion, below the estimated $6.37 billion.
• Pacific Gas & Electric recently announced a quarterly dividend of $0.025 per share, reflecting an annual yield of 0.6% and a low dividend payout ratio of 9.17%.

Korea Investment CORP lifted its position in shares of Pacific Gas & Electric Co. (NYSE:PCG - Free Report) by 42.1% during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 2,133,402 shares of the utilities provider's stock after purchasing an additional 632,072 shares during the period. Korea Investment CORP owned about 0.08% of Pacific Gas & Electric worth $36,652,000 as of its most recent SEC filing.

A number of other large investors have also added to or reduced their stakes in the company. Northern Trust Corp increased its stake in Pacific Gas & Electric by 4.3% during the 1st quarter. Northern Trust Corp now owns 19,944,322 shares of the utilities provider's stock worth $342,643,000 after buying an additional 818,377 shares during the period. Brooklyn Investment Group grew its stake in shares of Pacific Gas & Electric by 35.3% during the first quarter. Brooklyn Investment Group now owns 8,036 shares of the utilities provider's stock valued at $138,000 after acquiring an additional 2,098 shares in the last quarter. Algert Global LLC increased its position in shares of Pacific Gas & Electric by 61.5% during the first quarter. Algert Global LLC now owns 165,340 shares of the utilities provider's stock worth $2,841,000 after acquiring an additional 62,943 shares during the last quarter. Ethos Financial Group LLC acquired a new position in shares of Pacific Gas & Electric in the first quarter worth about $348,000. Finally, Raymond James Financial Inc. boosted its holdings in Pacific Gas & Electric by 11.6% in the first quarter. Raymond James Financial Inc. now owns 1,369,883 shares of the utilities provider's stock valued at $23,535,000 after purchasing an additional 142,423 shares during the last quarter. 78.56% of the stock is owned by institutional investors and hedge funds.

Pacific Gas & Electric Stock Performance

Shares of PCG stock traded up $0.4950 on Friday, hitting $15.1650. 27,071,795 shares of the stock traded hands, compared to its average volume of 28,466,784. The company's fifty day moving average is $14.19 and its 200 day moving average is $15.73. Pacific Gas & Electric Co. has a 1-year low of $12.97 and a 1-year high of $21.72. The company has a market capitalization of $40.58 billion, a PE ratio of 13.91, a PEG ratio of 1.13 and a beta of 0.54. 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 (NYSE:PCG - Get Free Report) last released its quarterly earnings data on Thursday, July 31st. The utilities provider reported $0.31 EPS for the quarter, missing analysts' consensus estimates of $0.33 by ($0.02). The business had revenue of $5.90 billion during the quarter, compared to analyst estimates of $6.37 billion. Pacific Gas & Electric had a return on equity of 10.13% and a net margin of 9.95%.The business's revenue for the quarter was down 1.5% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.31 EPS. Pacific Gas & Electric has set its FY 2025 guidance at 1.480-1.520 EPS. On average, equities research analysts predict that Pacific Gas & Electric Co. will post 1.49 earnings per share for the current fiscal year.

Analyst Ratings Changes

PCG has been the subject of a number of recent analyst reports. Evercore ISI raised their price objective on Pacific Gas & Electric from $15.00 to $17.00 and gave the company an "in-line" rating in a research note on Monday, April 28th. Morgan Stanley set a $18.00 price target on shares of Pacific Gas & Electric and gave the stock an "underweight" rating in a research report on Thursday, May 22nd. Mizuho lifted their price target 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. Zacks Research upgraded shares of Pacific Gas & Electric from a "strong sell" rating to a "hold" rating in a research note on Monday, August 18th. Finally, Argus raised shares of Pacific Gas & Electric to a "hold" rating in a report on Monday, June 16th. Seven research analysts have rated the stock with a Buy rating, five have assigned a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, the stock currently has an average rating of "Hold" and an average target price of $20.55.

About Pacific Gas & Electric

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.