MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. Increases Stock Position in 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. lifted its holdings in shares of Pacific Gas & Electric Co. (NYSE:PCG - Free Report) by 7.1% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 261,212 shares of the utilities provider's stock after purchasing 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.

Several other hedge funds also recently made changes to their positions in the business. Cambridge Investment Research Advisors Inc. lifted its stake in Pacific Gas & Electric by 55.6% in the 1st quarter. Cambridge Investment Research Advisors Inc. now owns 77,846 shares of the utilities provider's stock valued at $1,337,000 after purchasing an additional 27,832 shares during the last quarter. Golden State Wealth Management LLC raised its stake in shares of Pacific Gas & Electric by 431.2% during the first quarter. Golden State Wealth Management LLC now owns 3,469 shares of the utilities provider's stock valued at $60,000 after acquiring an additional 2,816 shares during the last quarter. GAMMA Investing LLC raised its stake in shares of Pacific Gas & Electric by 738.7% during the first quarter. GAMMA Investing LLC now owns 176,043 shares of the utilities provider's stock valued at $3,024,000 after acquiring an additional 155,052 shares during the last quarter. Blue Trust Inc. raised its stake in shares of Pacific Gas & Electric by 38.1% during the first quarter. Blue Trust Inc. now owns 5,316 shares of the utilities provider's stock valued at $91,000 after acquiring an additional 1,468 shares during the last quarter. Finally, Wealth Enhancement Advisory Services LLC raised its stake in shares of Pacific Gas & Electric by 138.8% during the first quarter. Wealth Enhancement Advisory Services LLC now owns 254,549 shares of the utilities provider's stock valued at $4,373,000 after acquiring an additional 147,964 shares during the last quarter. 78.56% of the stock is owned by institutional investors.

Pacific Gas & Electric Stock Performance

Shares of NYSE PCG traded up $0.25 during midday trading on Wednesday, hitting $15.20. The company's stock had a trading volume of 4,949,231 shares, compared to its average volume of 23,807,715. The stock has a fifty day moving average price of $14.62 and a 200 day moving average price of $15.66. Pacific Gas & Electric Co. has a one year low of $12.97 and a one 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. The firm has a market capitalization of $40.67 billion, a price-to-earnings ratio of 13.94, a P/E/G ratio of 1.14 and a beta of 0.57.

Pacific Gas & Electric (NYSE:PCG - Get Free Report) last posted its quarterly earnings results on Thursday, July 31st. The utilities provider reported $0.31 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.33 by ($0.02). The business had revenue of $5.90 billion during the quarter, compared to the consensus estimate of $6.37 billion. Pacific Gas & Electric had a net margin of 9.95% and a return on equity of 10.13%. The business's revenue for the quarter was down 1.5% on a year-over-year basis. During the same period last year, the firm earned $0.31 EPS. Pacific Gas & Electric has set its FY 2025 guidance at 1.480-1.520 EPS. On average, research analysts forecast that Pacific Gas & Electric Co. will post 1.49 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on PCG shares. UBS Group set a $19.00 price target on shares of Pacific Gas & Electric in a research note on Friday, August 29th. Morgan Stanley reissued an "underweight" rating on shares of Pacific Gas & Electric in a research note on Thursday, August 21st. Barclays lowered their target price on shares of 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. Argus raised shares of Pacific Gas & Electric to a "hold" rating in a research note on Monday, June 16th. Finally, Zacks Research raised shares of Pacific Gas & Electric from a "strong sell" rating to a "hold" rating in a research note on Monday, August 18th. Six 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's stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and a consensus target price of $20.20.

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.