Algert Global LLC Purchases 62,943 Shares of Pacific Gas & Electric Co. $PCG

Key Points

• Algert Global LLC has increased its stake in Pacific Gas & Electric Co. by 61.5% in the first quarter, accumulating a total of 165,340 shares worth approximately $2.84 million.
• The company's stock is currently down 1.4% with a market capitalization of $41.16 billion and a reported earnings miss of $0.31 per share against an expectation of $0.33.
• Pacific Gas & Electric recently declared a quarterly dividend of $0.025 per share, translating to an annualized yield of 0.6% and a payout ratio of 9.17%.

Algert Global LLC raised its stake in shares of Pacific Gas & Electric Co. (NYSE:PCG - Free Report) by 61.5% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 165,340 shares of the utilities provider's stock after acquiring an additional 62,943 shares during the quarter. Algert Global LLC's holdings in Pacific Gas & Electric were worth $2,841,000 at the end of the most recent quarter.

Other large investors have also recently added to or reduced their stakes in the company. Costello Asset Management INC acquired a new stake in shares of Pacific Gas & Electric in the 1st quarter worth about $31,000. True Wealth Design LLC increased its holdings in shares of Pacific Gas & Electric by 1,233.6% in the 4th quarter. True Wealth Design LLC now owns 1,827 shares of the utilities provider's stock worth $37,000 after acquiring an additional 1,690 shares during the period. Colonial Trust Co SC increased its holdings in shares of Pacific Gas & Electric by 563.0% in the 4th quarter. Colonial Trust Co SC now owns 1,916 shares of the utilities provider's stock worth $39,000 after acquiring an additional 1,627 shares during the period. Deseret Mutual Benefit Administrators increased its holdings in shares of Pacific Gas & Electric by 45.0% in the 1st quarter. Deseret Mutual Benefit Administrators now owns 2,173 shares of the utilities provider's stock worth $37,000 after acquiring an additional 674 shares during the period. Finally, Larson Financial Group LLC increased its holdings in shares of Pacific Gas & Electric by 198.1% in the 1st quarter. Larson Financial Group LLC now owns 3,050 shares of the utilities provider's stock worth $52,000 after acquiring an additional 2,027 shares during the period. 78.56% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

PCG has been the topic of a number of analyst reports. Zacks Research raised shares of Pacific Gas & Electric from a "strong sell" rating to a "hold" rating in a report on Monday, August 18th. Argus raised shares of Pacific Gas & Electric to a "hold" rating in a research note on Monday, June 16th. Barclays lowered their target price on shares of 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. Evercore ISI raised their target price on shares of Pacific Gas & Electric from $15.00 to $17.00 and gave the company an "in-line" rating in a research note on Monday, April 28th. Finally, Morgan Stanley set a $18.00 target price on shares of Pacific Gas & Electric and gave the company an "underweight" rating in a research note on Thursday, May 22nd. Seven investment analysts have rated the stock with a Buy rating, five have issued a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, the company has an average rating of "Hold" and a consensus price target of $20.55.

Pacific Gas & Electric Stock Down 1.6%

Shares of PCG stock traded down $0.2450 during trading on Monday, hitting $14.9450. 6,367,863 shares of the company were exchanged, compared to its average volume of 23,681,020. The company has a debt-to-equity ratio of 1.81, a quick ratio of 0.89 and a current ratio of 0.94. The firm has a market capitalization of $39.99 billion, a price-to-earnings ratio of 13.71, a P/E/G ratio of 1.13 and a beta of 0.54. The business's 50-day simple moving average is $14.19 and its 200 day simple moving average is $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 posted its quarterly earnings results on Thursday, July 31st. The utilities provider reported $0.31 EPS for the quarter, missing the consensus estimate of $0.33 by ($0.02). The company 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 business's revenue for the quarter was down 1.5% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.31 earnings per share. Pacific Gas & Electric has set its FY 2025 guidance at 1.480-1.520 EPS. As a group, analysts forecast that Pacific Gas & Electric Co. will post 1.49 EPS for the current fiscal year.

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.