OMERS ADMINISTRATION Corp Buys 85,495 Shares of Pacific Gas & Electric Co. $PCG

Key Points

• OMERS ADMINISTRATION Corp significantly increased its stake in Pacific Gas & Electric Co. by 100.8%, acquiring an additional 85,495 shares, bringing its total holding to 170,301 shares valued at approximately $2.9 million.
• Several institutional investors have also boosted their positions in Pacific Gas & Electric, contributing to a total of 78.56% institutional ownership of the stock.
• Pacific Gas & Electric recently reported earnings per share (EPS) of $0.31 for the latest quarter, missing analysts' consensus estimates by $0.02, and is guiding for FY 2025 EPS in the range of 1.480-1.520.

OMERS ADMINISTRATION Corp raised its stake in Pacific Gas & Electric Co. (NYSE:PCG - Free Report) by 100.8% in the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 170,301 shares of the utilities provider's stock after purchasing an additional 85,495 shares during the quarter. OMERS ADMINISTRATION Corp's holdings in Pacific Gas & Electric were worth $2,926,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently made changes to their positions in PCG. Coldstream Capital Management Inc. boosted its stake in shares of Pacific Gas & Electric by 15.9% during the 4th quarter. Coldstream Capital Management Inc. now owns 13,877 shares of the utilities provider's stock worth $280,000 after acquiring an additional 1,907 shares during the period. Lido Advisors LLC raised its holdings in Pacific Gas & Electric by 14.7% in the 4th quarter. Lido Advisors LLC now owns 37,051 shares of the utilities provider's stock valued at $749,000 after acquiring an additional 4,752 shares in the last quarter. Comerica Bank raised its holdings in Pacific Gas & Electric by 24.1% in the 4th quarter. Comerica Bank now owns 333,797 shares of the utilities provider's stock valued at $6,736,000 after acquiring an additional 64,919 shares in the last quarter. Freestone Grove Partners LP acquired a new position in shares of Pacific Gas & Electric during the 4th quarter worth $657,000. Finally, Caisse DE Depot ET Placement DU Quebec acquired a new position in shares of Pacific Gas & Electric during the 4th quarter worth $2,767,000. 78.56% of the stock is currently owned by institutional investors.

Pacific Gas & Electric Stock Performance

NYSE PCG traded down $0.20 on Thursday, hitting $15.16. 4,569,421 shares of the stock traded hands, compared to its average volume of 23,373,777. The business's fifty day moving average is $14.39 and its two-hundred day moving average is $15.70. Pacific Gas & Electric Co. has a 12 month low of $12.97 and a 12 month high of $21.72. The firm has a market capitalization of $40.55 billion, a price-to-earnings ratio of 13.90, a PEG ratio of 1.14 and a beta of 0.57. The company has a debt-to-equity ratio of 1.81, a quick ratio of 0.89 and a current ratio of 0.94.

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

Analyst Upgrades and Downgrades

A number of equities analysts have recently commented on PCG shares. Mizuho boosted their price target on Pacific Gas & Electric from $20.00 to $21.00 and gave the stock an "outperform" rating in a report on Monday, May 19th. UBS Group set a $19.00 price target on Pacific Gas & Electric in a research report on Friday, August 29th. Argus upgraded Pacific Gas & Electric to a "hold" rating in a research report on Monday, June 16th. Zacks Research upgraded Pacific Gas & Electric from a "strong sell" rating to a "hold" rating in a research report on Monday, August 18th. Finally, Barclays dropped their price target on Pacific Gas & Electric from $22.00 to $20.00 and set an "overweight" rating on the stock in a research note on Tuesday, July 22nd. Seven analysts have rated the stock with a Buy rating, five have assigned a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, the company currently has an average rating of "Hold" and an average target price of $20.55.

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.