Monterey Private Wealth Inc. Makes New $452,000 Investment in Pacific Gas & Electric Co. $PCG

Key Points

• Monterey Private Wealth Inc. invested approximately $452,000 in Pacific Gas & Electric Co. by acquiring 26,331 shares in the first quarter, according to its SEC filing.
• The company reported a net margin of 9.95% and a revenue decrease of 1.5% year-over-year, with earnings per share (EPS) of $0.31, missing the estimate of $0.33.
• Analysts are divided on the stock's future, with several firms adjusting their price targets, resulting in an average target price of $20.55 and a consensus rating of "Hold."

Monterey Private Wealth Inc. acquired a new position in shares of Pacific Gas & Electric Co. (NYSE:PCG - Free Report) in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 26,331 shares of the utilities provider's stock, valued at approximately $452,000.

Other large investors also recently made changes to their positions in the company. Costello Asset Management INC bought a new stake in shares of Pacific Gas & Electric during the first quarter worth $31,000. True Wealth Design LLC boosted its holdings in Pacific Gas & Electric by 1,233.6% during the fourth quarter. True Wealth Design LLC now owns 1,827 shares of the utilities provider's stock worth $37,000 after purchasing an additional 1,690 shares during the last quarter. Deseret Mutual Benefit Administrators boosted its holdings 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 purchasing an additional 674 shares during the last quarter. Colonial Trust Co SC boosted its holdings in Pacific Gas & Electric by 563.0% during the fourth quarter. Colonial Trust Co SC now owns 1,916 shares of the utilities provider's stock worth $39,000 after purchasing an additional 1,627 shares during the last quarter. Finally, Larson Financial Group LLC boosted its holdings 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 purchasing an additional 2,027 shares during the last quarter. Institutional investors own 78.56% of the company's stock.

Pacific Gas & Electric Stock Performance

PCG stock opened at $15.11 on Thursday. The firm has a market cap of $40.41 billion, a PE ratio of 13.86, a P/E/G ratio of 1.12 and a beta of 0.54. The company has a quick ratio of 0.89, a current ratio of 0.94 and a debt-to-equity ratio of 1.81. The business has a 50 day moving average of $14.26 and a 200-day moving average of $15.71. Pacific Gas & Electric Co. has a 12-month low of $12.97 and a 12-month high of $21.72.

Pacific Gas & Electric (NYSE:PCG - Get Free Report) last released its 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). Pacific Gas & Electric had a net margin of 9.95% and a return on equity of 10.13%. The business had revenue of $5.90 billion during the quarter, compared to the consensus estimate of $6.37 billion. During the same period in the prior year, the company earned $0.31 earnings per share. The business's revenue 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. As a group, sell-side analysts expect that Pacific Gas & Electric Co. will post 1.49 earnings per share for the current year.

Analysts Set New Price Targets

Several research firms have issued reports on PCG. Barclays dropped their price target on shares of Pacific Gas & Electric from $22.00 to $20.00 and set an "overweight" rating on the stock in a research report on Tuesday, July 22nd. Mizuho boosted their price target on Pacific Gas & Electric from $20.00 to $21.00 and gave the company an "outperform" rating in a research note on Monday, May 19th. Morgan Stanley reiterated an "underweight" rating on shares of Pacific Gas & Electric in a research report on Thursday, August 21st. Zacks Research upgraded Pacific Gas & Electric from a "strong sell" rating to a "hold" rating in a research report on Monday, August 18th. Finally, Argus raised Pacific Gas & Electric to a "hold" rating in a research note on Monday, June 16th. Seven analysts have rated the stock with a Buy rating, five have issued a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, Pacific Gas & Electric presently has an average rating of "Hold" and an average target price of $20.55.

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.

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