Korea Investment CORP Makes New Investment in Pacific Gas & Electric Co. $PCG

Key Points

• Korea Investment Corp. acquired 2.31 million PG&E shares during the second quarter, valued at approximately $38.8 million and representing about 0.09% of the company.
• Institutional interest remained strong, with 78.56% of PG&E stock held by institutions and several other large investors initiating or expanding positions.
• Analysts maintain a “Moderate Buy” consensus with an average price target of $22.20, while PG&E reported quarterly EPS of $0.40, beating estimates of $0.36.

Korea Investment CORP acquired a new stake in Pacific Gas & Electric Co. (NYSE:PCG - Free Report) during the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm acquired 2,308,186 shares of the utilities provider's stock, valued at approximately $38,824,000. Korea Investment CORP owned approximately 0.09% of Pacific Gas & Electric at the end of the most recent quarter.

Other large investors have also recently made changes to their positions in the company. Mitsubishi UFJ Asset Management Co. Ltd. bought a new stake in shares of Pacific Gas & Electric during the second quarter worth about $90,898,000. Danica Pension Livsforsikringsaktieselskab bought a new position in Pacific Gas & Electric in the 2nd quarter valued at about $76,721,000. Ieq Capital LLC acquired a new position in Pacific Gas & Electric during the 2nd quarter valued at about $72,739,000. SG Americas Securities LLC boosted its stake in Pacific Gas & Electric by 366.6% during the 1st quarter. SG Americas Securities LLC now owns 2,984,809 shares of the utilities provider's stock valued at $52,443,000 after purchasing an additional 2,345,120 shares during the last quarter. Finally, Pinebridge Investments LLC acquired a new position in Pacific Gas & Electric during the 4th quarter valued at about $28,967,000. 78.56% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several analysts have recently commented on the company. JPMorgan Chase & Co. lowered their price objective on Pacific Gas & Electric from $24.00 to $23.00 and set an "overweight" rating for the company in a research note on Friday, May 15th. Weiss Ratings lowered Pacific Gas & Electric from a "hold (c+)" rating to a "hold (c)" rating in a report on Thursday, June 4th. Morgan Stanley cut their target price on Pacific Gas & Electric from $23.00 to $22.00 and set an "equal weight" rating on the stock in a research report on Friday. UBS Group reiterated a "buy" rating on shares of Pacific Gas & Electric in a report on Tuesday. Finally, Truist Financial lowered their price target on Pacific Gas & Electric from $23.00 to $21.00 and set a "buy" rating for the company in a research 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 stock. According to MarketBeat, the company has a consensus rating of "Moderate Buy" and an average price target of $22.20.

Insider Activity at Pacific Gas & Electric

In related news, EVP Marlene Santos sold 158,250 shares of Pacific Gas & Electric stock in a transaction on Wednesday, July 22nd. The stock was sold at an average price of $18.00, for a total transaction of $2,848,500.00. Following the sale, the executive vice president directly owned 230,885 shares in the company, valued at approximately $4,155,930. This trade represents a 40.67% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders own 0.22% of the company's stock.

Pacific Gas & Electric Trading Down 2.0%

Shares of PCG stock opened at $17.60 on Friday. The company has a debt-to-equity ratio of 1.90, a quick ratio of 1.15 and a current ratio of 1.22. The company has a market capitalization of $47.17 billion, a price-to-earnings ratio of 12.75, a PEG ratio of 1.14 and a beta of 0.28. 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 simple moving average of $17.28 and a two-hundred day simple moving average of $17.27.

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 the consensus estimate of $0.36 by $0.04. Pacific Gas & Electric had a net margin of 12.25% and a return on equity of 12.48%. The firm had revenue of $5.90 billion for the quarter, compared to analysts' expectations of $6.20 billion. During the same quarter last year, the firm earned $0.31 EPS. The company's quarterly revenue was up .1% compared to the same quarter last year. Pacific Gas & Electric has set its FY 2026 guidance at 1.640-1.660 EPS. Research analysts anticipate that Pacific Gas & Electric Co. will post 1.65 EPS for the current fiscal year.

Pacific Gas & Electric 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.

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