MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. Acquires 17,400 Shares of Pacific Gas & Electric Co. $PCG

Key Points

• MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its stake in Pacific Gas & Electric Co. by 7.1%, owning 261,212 shares worth approximately $4.49 million after acquiring an additional 17,400 shares during the first quarter.
• Several institutional investors significantly boosted their shares in Pacific Gas & Electric, with the Canada Pension Plan Investment Board increasing its stake by 352.3% to over 19 million shares valued at $329 million.
• Pacific Gas & Electric's recent quarterly earnings report showed an EPS miss of $0.31 versus the expected $0.33, alongside a net revenue decline of 1.5% year-over-year.

MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its stake in Pacific Gas & Electric Co. (NYSE:PCG - Free Report) by 7.1% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 261,212 shares of the utilities provider's stock after buying an additional 17,400 shares during the quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd.'s holdings in Pacific Gas & Electric were worth $4,488,000 as of its most recent SEC filing.

Other large investors also recently made changes to their positions in the company. Costello Asset Management INC acquired a new stake in shares of Pacific Gas & Electric in the 1st quarter valued at approximately $31,000. Deseret Mutual Benefit Administrators boosted its holdings in shares of Pacific Gas & Electric by 45.0% in 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 during the last quarter. Safe Harbor Fiduciary LLC acquired a new stake in shares of Pacific Gas & Electric in the 1st quarter valued at approximately $39,000. Larson Financial Group LLC boosted its holdings in shares of Pacific Gas & Electric by 198.1% in 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 during 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 valued at $59,000 after purchasing an additional 1,260 shares during the last quarter. Institutional investors and hedge funds own 78.56% of the company's stock.

Pacific Gas & Electric Price Performance

Shares of NYSE PCG traded down $0.07 during mid-day trading on Monday, reaching $15.38. The company had a trading volume of 27,980,658 shares, compared to its average volume of 23,961,729. The company has a debt-to-equity ratio of 1.81, a quick ratio of 0.89 and a current ratio of 0.94. Pacific Gas & Electric Co. has a one year low of $12.97 and a one year high of $21.72. The firm has a market cap of $41.15 billion, a price-to-earnings ratio of 14.11, a PEG ratio of 1.15 and a beta of 0.57. The business's 50-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 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 during the quarter, compared to the consensus estimate of $6.37 billion. During the same quarter in the previous year, the business posted $0.31 EPS. The firm'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, research analysts predict that Pacific Gas & Electric Co. will post 1.49 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several brokerages have issued reports on PCG. Zacks Research raised Pacific Gas & Electric from a "strong sell" rating to a "hold" rating in a report on Monday, August 18th. UBS Group set a $19.00 price target on Pacific Gas & Electric in a report on Friday, August 29th. Barclays cut their price target 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. Mizuho raised their price target on Pacific Gas & Electric from $20.00 to $21.00 and gave the company an "outperform" rating in a report on Monday, May 19th. Finally, Argus raised Pacific Gas & Electric to a "hold" rating in a report on Monday, June 16th. Six investment analysts have rated the stock with a Buy rating, five have issued a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, the company presently has an average rating of "Hold" and an average price target 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.