Northern Trust Corp Has $342.64 Million Stock Position in Pacific Gas & Electric Co. $PCG

Key Points

• Northern Trust Corp increased its stock position in Pacific Gas & Electric Co. by 4.3%, bringing its total ownership to approximately 19.94 million shares valued at about $342.64 million.
• Several other institutional investors, including Vanguard Group and BROOKFIELD Corp, also adjusted their stakes in Pacific Gas & Electric, with 78.56% of the company's stock held by such investors.
• Pacific Gas & Electric reported $0.31 earnings per share for the last quarter, missing estimates, while their revenue for that period was $5.90 billion, below analysts' expectations.

Northern Trust Corp increased its position in shares of Pacific Gas & Electric Co. (NYSE:PCG - Free Report) by 4.3% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 19,944,322 shares of the utilities provider's stock after purchasing an additional 818,377 shares during the period. Northern Trust Corp owned about 0.75% of Pacific Gas & Electric worth $342,643,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also modified their holdings of the company. Brooklyn Investment Group increased its position in shares of Pacific Gas & Electric by 35.3% during the first quarter. Brooklyn Investment Group now owns 8,036 shares of the utilities provider's stock valued at $138,000 after purchasing an additional 2,098 shares during the period. Algert Global LLC grew its position in Pacific Gas & Electric by 61.5% in the first quarter. Algert Global LLC now owns 165,340 shares of the utilities provider's stock valued at $2,841,000 after acquiring an additional 62,943 shares during the period. Ethos Financial Group LLC bought a new stake in Pacific Gas & Electric in the first quarter valued at $348,000. Raymond James Financial Inc. grew its position in Pacific Gas & Electric by 11.6% in the first quarter. Raymond James Financial Inc. now owns 1,369,883 shares of the utilities provider's stock valued at $23,535,000 after acquiring an additional 142,423 shares during the period. Finally, Cresset Asset Management LLC grew its position in Pacific Gas & Electric by 76.6% in the first quarter. Cresset Asset Management LLC now owns 24,692 shares of the utilities provider's stock valued at $425,000 after acquiring an additional 10,711 shares during the period. 78.56% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of brokerages have weighed in on PCG. Argus upgraded Pacific Gas & Electric to a "hold" rating in a research report on Monday, June 16th. Mizuho upped their price target on Pacific Gas & Electric from $20.00 to $21.00 and gave the company an "outperform" rating in a research report on Monday, May 19th. Morgan Stanley set a $18.00 target price on Pacific Gas & Electric and gave the stock an "underweight" rating in a report on Thursday, May 22nd. Barclays decreased their target price on Pacific Gas & Electric from $22.00 to $20.00 and set an "overweight" rating on the stock in a report on Tuesday, July 22nd. Finally, Zacks Research upgraded Pacific Gas & Electric from a "strong sell" rating to a "hold" rating in a report on Monday, August 18th. Seven investment analysts have rated the stock with a Buy rating, five have given a Hold rating and one has issued a Sell rating to the company's stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Hold" and an average price target of $20.55.

Pacific Gas & Electric Stock Down 1.7%

Shares of NYSE PCG traded down $0.2650 during mid-day trading on Monday, reaching $14.9250. 6,803,311 shares of the company's stock were exchanged, compared to its average volume of 23,685,227. The firm has a market capitalization of $39.93 billion, a price-to-earnings ratio of 13.69, a PEG ratio of 1.13 and a beta of 0.54. 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 business has a fifty day simple moving average of $14.19 and a 200 day simple moving average of $15.73. Pacific Gas & Electric Co. has a twelve month low of $12.97 and a twelve month high of $21.72.

Pacific Gas & Electric (NYSE:PCG - Get Free Report) last released 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). The business had revenue of $5.90 billion for the quarter, compared to analyst estimates of $6.37 billion. Pacific Gas & Electric had a return on equity of 10.13% and a net margin of 9.95%.The company's revenue for the quarter was down 1.5% compared to the same quarter last year. During the same period in the prior year, the business earned $0.31 EPS. Pacific Gas & Electric has set its FY 2025 guidance at 1.480-1.520 EPS. As a group, equities analysts expect that Pacific Gas & Electric Co. will post 1.49 EPS for the current fiscal year.

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.