Mitsubishi UFJ Asset Management Co. Ltd. Makes New Investment in Pacific Gas & Electric Co. $PCG

Mitsubishi UFJ Asset Management Co. Ltd. purchased a new position in Pacific Gas & Electric Co. (NYSE:PCG - Free Report) in the second quarter, according to its most recent disclosure with the SEC. The institutional investor purchased 5,404,162 shares of the utilities provider's stock, valued at approximately $90,898,000. Mitsubishi UFJ Asset Management Co. Ltd. owned 0.20% of Pacific Gas & Electric at the end of the most recent quarter.

Several other institutional investors and hedge funds have also made changes to their positions in PCG. SG Americas Securities LLC increased its stake in shares of Pacific Gas & Electric by 366.6% during the first quarter. SG Americas Securities LLC now owns 2,984,809 shares of the utilities provider's stock valued at $52,443,000 after acquiring an additional 2,345,120 shares during the period. Pinebridge Investments LLC bought a new position in Pacific Gas & Electric during the 4th quarter valued at $28,967,000. Geode Capital Management LLC boosted its stake in Pacific Gas & Electric by 1.9% during the 4th quarter. Geode Capital Management LLC now owns 62,134,132 shares of the utilities provider's stock valued at $1,019,297,000 after purchasing an additional 1,132,249 shares in the last quarter. BI Asset Management Fondsmaeglerselskab A S increased its position in shares of Pacific Gas & Electric by 499.7% during the 2nd quarter. BI Asset Management Fondsmaeglerselskab A S now owns 433,064 shares of the utilities provider's stock valued at $6,037,000 after purchasing an additional 360,845 shares during the period. Finally, Focus Partners Advisor Solutions LLC acquired a new position in shares of Pacific Gas & Electric during the 2nd quarter valued at $4,044,000. 78.56% of the stock is currently owned by institutional investors.

Insider Transactions at Pacific Gas & Electric

In other Pacific Gas & Electric news, EVP Marlene Santos sold 158,250 shares of the company's stock in a transaction dated Wednesday, July 22nd. The shares were sold at an average price of $18.00, for a total transaction of $2,848,500.00. Following the completion of the sale, the executive vice president directly owned 230,885 shares of the company's stock, valued at approximately $4,155,930. This represents a 40.67% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 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 Stock Performance

PCG opened at $17.84 on Wednesday. The company has a quick ratio of 1.15, a current ratio of 1.22 and a debt-to-equity ratio of 1.90. The firm has a market cap of $47.80 billion, a PE ratio of 12.92, a P/E/G ratio of 1.16 and a beta of 0.28. The business has a fifty day simple moving average of $17.22 and a 200-day simple moving average of $17.23. Pacific Gas & Electric Co. has a fifty-two week low of $14.30 and a fifty-two week high of $19.16.

Pacific Gas & Electric (NYSE:PCG - Get Free Report) last announced its earnings results on Thursday, July 23rd. The utilities provider reported $0.40 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.36 by $0.04. Pacific Gas & Electric had a return on equity of 12.48% and a net margin of 12.25%.The company had revenue of $5.90 billion for the quarter, compared to analyst estimates of $6.20 billion. During the same period in the previous year, the firm earned $0.31 earnings per share. Pacific Gas & Electric's revenue for the quarter 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. As a group, equities analysts predict that Pacific Gas & Electric Co. will post 1.65 EPS for the current fiscal year.

Pacific Gas & Electric Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, July 15th. Shareholders of record on Tuesday, June 30th were issued a dividend of $0.05 per share. This represents a $0.20 annualized dividend and a yield of 1.1%. The ex-dividend date was Tuesday, June 30th. Pacific Gas & Electric's payout ratio is presently 14.49%.

Analysts Set New Price Targets

PCG has been the subject of several research analyst reports. Truist Financial cut their price objective on Pacific Gas & Electric from $23.00 to $21.00 and set a "buy" rating for the company in a report on Tuesday, August 4th. BMO Capital Markets lowered their target price on Pacific Gas & Electric from $28.00 to $27.00 and set an "outperform" rating on the stock in a report on Friday, July 24th. JPMorgan Chase & Co. dropped their price target on shares of Pacific Gas & Electric from $24.00 to $23.00 and set an "overweight" rating on the stock in a research report on Friday, May 15th. Weiss Ratings downgraded shares of Pacific Gas & Electric from a "hold (c+)" rating to a "hold (c)" rating in a report on Thursday, June 4th. Finally, Wall Street Zen lowered shares of Pacific Gas & Electric from a "buy" rating to a "hold" rating in a research report on Saturday, July 25th. Seven investment analysts have rated the stock with a Buy rating, two have given a Hold rating and one has given a Sell rating to the company. According to MarketBeat, Pacific Gas & Electric currently has a consensus rating of "Moderate Buy" and a consensus target price of $22.20.

Pacific Gas & Electric Company 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.

Continue following MarketBeat

Add MarketBeat as your preferred source on Google to see our latest stories in your feed.

Add As Preferred Source