OMERS ADMINISTRATION Corp Buys Shares of 287,999 Pacific Gas & Electric Co. $PCG

Key Points

• OMERS Administration initiated a position in Pacific Gas & Electric by purchasing 287,999 shares worth approximately $4.84 million during the second quarter. Institutional investors collectively own 78.56% of PCG.
• Analyst sentiment remains positive overall, with seven Buy ratings and three Holds, producing a consensus “Moderate Buy” rating and an average price target of $22.20. Recent target changes included Morgan Stanley lowering its target to $22 and BMO Capital Markets lowering its target to $27.
• PG&E reported quarterly EPS of $0.40, beating estimates of $0.36, although revenue of $5.90 billion fell short of the $6.20 billion forecast. The company reaffirmed fiscal 2026 EPS guidance of $1.64–$1.66.

OMERS ADMINISTRATION Corp bought a new stake in Pacific Gas & Electric Co. (NYSE:PCG - Free Report) during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund bought 287,999 shares of the utilities provider's stock, valued at approximately $4,844,000.

Several other large investors have also modified their holdings of PCG. Dynamic Technology Lab Private Ltd acquired a new position in Pacific Gas & Electric in the 1st quarter valued at $203,000. Empowered Funds LLC lifted its stake in shares of Pacific Gas & Electric by 16.4% in the 1st quarter. Empowered Funds LLC now owns 46,936 shares of the utilities provider's stock worth $806,000 after acquiring an additional 6,601 shares during the period. Woodline Partners LP lifted its stake in shares of Pacific Gas & Electric by 41.2% in the 1st quarter. Woodline Partners LP now owns 185,324 shares of the utilities provider's stock worth $3,184,000 after acquiring an additional 54,033 shares during the period. Focus Partners Wealth boosted its holdings in shares of Pacific Gas & Electric by 93.0% in the first quarter. Focus Partners Wealth now owns 83,816 shares of the utilities provider's stock valued at $1,440,000 after acquiring an additional 40,380 shares in the last quarter. Finally, BI Asset Management Fondsmaeglerselskab A S boosted its holdings in shares of Pacific Gas & Electric by 499.7% in the second quarter. BI Asset Management Fondsmaeglerselskab A S now owns 433,064 shares of the utilities provider's stock valued at $6,037,000 after acquiring an additional 360,845 shares in the last quarter. Hedge funds and other institutional investors own 78.56% of the company's stock.

Insider Activity

In other news, EVP Marlene Santos sold 158,250 shares of Pacific Gas & Electric stock in a transaction that occurred on 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 in the company, valued at approximately $4,155,930. This trade represents a 40.67% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders own 0.22% of the company's stock.

Wall Street Analyst Weigh In

PCG has been the subject of several analyst reports. Weiss Ratings cut shares of Pacific Gas & Electric from a "hold (c+)" rating to a "hold (c)" rating in a report on Thursday, June 4th. Wall Street Zen lowered Pacific Gas & Electric from a "buy" rating to a "hold" rating in a report on Saturday, July 25th. Morgan Stanley dropped their target price on Pacific Gas & Electric from $23.00 to $22.00 and set an "equal weight" rating on the stock in a research report on Friday. BMO Capital Markets cut their target price on Pacific Gas & Electric from $28.00 to $27.00 and set an "outperform" rating for the company in a research note on Friday, July 24th. Finally, UBS Group reissued a "buy" rating on shares of Pacific Gas & Electric in a report on Tuesday, August 18th. Seven investment analysts have rated the stock with a Buy rating and three have issued a Hold rating to the stock. According to MarketBeat.com, Pacific Gas & Electric has a consensus rating of "Moderate Buy" and an average target price of $22.20.

Pacific Gas & Electric Price Performance

Shares of NYSE PCG opened at $18.10 on Tuesday. The company has a debt-to-equity ratio of 1.90, a quick ratio of 1.15 and a current ratio of 1.22. Pacific Gas & Electric Co. has a one year low of $14.34 and a one year high of $19.16. The firm has a market capitalization of $48.50 billion, a P/E ratio of 13.11, a PEG ratio of 1.14 and a beta of 0.28. The company's fifty day moving average is $17.31 and its two-hundred day moving average is $17.30.

Pacific Gas & Electric (NYSE:PCG - Get Free Report) last announced its quarterly earnings data on Thursday, July 23rd. The utilities provider reported $0.40 EPS for the quarter, beating the consensus estimate of $0.36 by $0.04. The firm had revenue of $5.90 billion during the quarter, compared to analysts' expectations of $6.20 billion. Pacific Gas & Electric had a net margin of 12.25% and a return on equity of 12.48%. The business's revenue for the quarter was up .1% compared to the same quarter last year. During the same quarter last year, the business earned $0.31 earnings per share. Pacific Gas & Electric has set its FY 2026 guidance at 1.640-1.660 EPS. Analysts forecast that Pacific Gas & Electric Co. will post 1.65 EPS for the current fiscal year.

Pacific Gas & Electric 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