Nissay Asset Management Corp Japan ADV Decreases Position in Pacific Gas & Electric Co. $PCG

Key Points

• Nissay Asset Management Corp Japan ADV reduced its position in Pacific Gas & Electric by 23.1%, owning 267,734 shares after selling 80,430 shares in the 1st quarter.
• Pacific Gas & Electric reported $0.31 earnings per share for the last quarter, missing analysts' estimates by $0.02, with a revenue of $5.90 billion compared to expectations of $6.37 billion.
• Hedge funds and institutional investors collectively own 78.56% of Pacific Gas & Electric's stock, indicating strong institutional interest in the company.

Nissay Asset Management Corp Japan ADV lessened its holdings in Pacific Gas & Electric Co. (NYSE:PCG - Free Report) by 23.1% in the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 267,734 shares of the utilities provider's stock after selling 80,430 shares during the period. Nissay Asset Management Corp Japan ADV's holdings in Pacific Gas & Electric were worth $4,600,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in 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 lifted its position in shares of Pacific Gas & Electric by 45.0% during the 1st 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. Safe Harbor Fiduciary LLC purchased a new stake in shares of Pacific Gas & Electric during the 1st quarter worth $39,000. Larson Financial Group LLC lifted its position in shares of Pacific Gas & Electric by 198.1% during the 1st 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. Finally, Financial Network Wealth Advisors LLC lifted its position in shares of 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 worth $59,000 after purchasing an additional 1,260 shares during the last quarter. Hedge funds and other institutional investors own 78.56% of the company's stock.

Pacific Gas & Electric Price Performance

Shares of PCG opened at $15.08 on Monday. Pacific Gas & Electric Co. has a 1-year low of $12.97 and a 1-year high of $21.72. The stock has a market cap of $40.33 billion, a PE ratio of 13.83, a price-to-earnings-growth ratio of 1.12 and a beta of 0.57. The company has a debt-to-equity ratio of 1.81, a current ratio of 0.94 and a quick ratio of 0.89. The firm has a fifty day moving average price of $14.44 and a 200 day moving average price of $15.70.

Pacific Gas & Electric (NYSE:PCG - Get Free Report) last announced its quarterly earnings results on Thursday, July 31st. The utilities provider reported $0.31 earnings per share for the quarter, missing analysts' consensus estimates 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 company had revenue of $5.90 billion during the quarter, compared to analysts' expectations of $6.37 billion. During the same period last year, the firm earned $0.31 earnings per share. Pacific Gas & Electric'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 anticipate that Pacific Gas & Electric Co. will post 1.49 EPS for the current year.

Wall Street Analyst Weigh In

Several equities research analysts have recently issued reports on the stock. Argus raised shares of Pacific Gas & Electric to a "hold" rating in a research report on Monday, June 16th. Barclays decreased their price objective on shares of 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. Morgan Stanley reaffirmed an "underweight" rating on shares of Pacific Gas & Electric in a research report on Thursday, August 21st. Zacks Research raised shares of Pacific Gas & Electric from a "strong sell" rating to a "hold" rating in a research report on Monday, August 18th. Finally, Mizuho lifted their price objective on shares of Pacific Gas & Electric from $20.00 to $21.00 and gave the stock an "outperform" rating in a research report on Monday, May 19th. Seven analysts have rated the stock with a Buy rating, five have given a Hold rating and one has given a Sell rating to the company. According to MarketBeat, the stock presently has a consensus rating of "Hold" and an average price target 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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