MBB Public Markets I LLC Acquires New Position in Pacific Gas & Electric Co. $PCG

Key Points

• MBB Public Markets I LLC acquired 18,497 shares of Pacific Gas & Electric Co., valued at approximately $318,000, marking a new investment in the company.
• Several institutional investors, including Cambridge Investment Research Advisors Inc. and GAMMA Investing LLC, significantly increased their stakes in Pacific Gas & Electric during the first quarter, suggesting a strong interest in the stock.
• Pacific Gas & Electric reported earnings per share of $0.31 for the latest quarter, missing analysts' estimates, and set a fiscal year 2025 guidance of 1.480-1.520 EPS.

MBB Public Markets I LLC acquired a new stake in Pacific Gas & Electric Co. (NYSE:PCG - Free Report) in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm acquired 18,497 shares of the utilities provider's stock, valued at approximately $318,000.

Other hedge funds have also recently bought and sold shares of the company. Costello Asset Management INC purchased a new position in Pacific Gas & Electric in the 1st quarter valued at approximately $31,000. Deseret Mutual Benefit Administrators increased its position in Pacific Gas & Electric by 45.0% during the first quarter. Deseret Mutual Benefit Administrators now owns 2,173 shares of the utilities provider's stock worth $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 first quarter worth $39,000. Larson Financial Group LLC increased its position in Pacific Gas & Electric by 198.1% during the first 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 in the last quarter. Finally, Financial Network Wealth Advisors LLC increased its position in Pacific Gas & Electric by 57.7% during the first quarter. Financial Network Wealth Advisors LLC now owns 3,445 shares of the utilities provider's stock worth $59,000 after buying an additional 1,260 shares in the last quarter. 78.56% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several equities analysts have weighed in on the company. Morgan Stanley reissued an "underweight" rating on shares of Pacific Gas & Electric in a research report on Thursday, August 21st. Zacks Research raised Pacific Gas & Electric from a "strong sell" rating to a "hold" rating in a research report on Monday, August 18th. UBS Group set a $19.00 price target on Pacific Gas & Electric in a research report on Friday, August 29th. 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 report on Tuesday, July 22nd. Finally, Argus upgraded Pacific Gas & Electric to a "hold" rating in a report on Monday, June 16th. Six research analysts have rated the stock with a Buy rating, five have assigned a Hold rating and one has given a Sell rating to the company's stock. According to MarketBeat, the company presently has an average rating of "Hold" and a consensus price target of $20.20.

Pacific Gas & Electric Stock Down 0.8%

Shares of PCG traded down $0.13 during midday trading on Monday, reaching $15.33. 9,836,280 shares of the company were exchanged, compared to its average volume of 23,851,996. The stock has a 50-day moving average price of $14.56 and a 200-day moving average price of $15.67. The company has a market cap of $41.00 billion, a price-to-earnings ratio of 14.07, a P/E/G 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. The company has a current ratio of 0.94, a quick ratio of 0.89 and a debt-to-equity ratio of 1.81.

Pacific Gas & Electric (NYSE:PCG - Get Free Report) last issued 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). 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 analyst estimates of $6.37 billion. During the same quarter in the prior year, the firm earned $0.31 EPS. The company's revenue for the quarter was down 1.5% compared to the same quarter last year. Pacific Gas & Electric has set its FY 2025 guidance at 1.480-1.520 EPS. Research analysts expect that Pacific Gas & Electric Co. will post 1.49 earnings per share for the current year.

Pacific Gas & Electric Company 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.