Alliancebernstein L.P. Purchases 45,806 Shares of Pacific Gas & Electric Co. $PCG

Key Points

• Alliancebernstein L.P. increased its stake in Pacific Gas & Electric Co. by 2.0%, owning a total of 2,382,058 shares worth approximately $40.92 million.
• The company's stock currently has a market capitalization of $42.14 billion and a price-to-earnings ratio of 14.45, with a 12-month low of $12.97 and a high of $21.72.
• Pacific Gas & Electric reported earnings of $0.31 per share for the last quarter, missing the consensus estimate of $0.33, and its revenue was down 1.5% year-over-year.

Alliancebernstein L.P. lifted its position in shares of Pacific Gas & Electric Co. (NYSE:PCG - Free Report) by 2.0% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 2,382,058 shares of the utilities provider's stock after acquiring an additional 45,806 shares during the period. Alliancebernstein L.P. owned approximately 0.09% of Pacific Gas & Electric worth $40,924,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also added to or reduced their stakes in PCG. Costello Asset Management INC bought a new position in Pacific Gas & Electric in the 1st quarter valued at approximately $31,000. Deseret Mutual Benefit Administrators raised its stake in Pacific Gas & Electric by 45.0% during the first quarter. Deseret Mutual Benefit Administrators now owns 2,173 shares of the utilities provider's stock worth $37,000 after buying an additional 674 shares during the last quarter. Safe Harbor Fiduciary LLC acquired a new stake in Pacific Gas & Electric in the first quarter worth $39,000. Larson Financial Group LLC grew its holdings in Pacific Gas & Electric by 198.1% in the first 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 period. Finally, Financial Network Wealth Advisors LLC grew its holdings in Pacific Gas & Electric by 57.7% in the first 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 period. Institutional investors own 78.56% of the company's stock.

Pacific Gas & Electric Stock Performance

PCG traded down $0.26 during midday trading on Friday, reaching $15.47. The company had a trading volume of 26,878,334 shares, compared to its average volume of 25,565,096. 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 stock has a market cap of $41.39 billion, a PE ratio of 14.19, a P/E/G ratio of 1.17 and a beta of 0.57. Pacific Gas & Electric Co. has a 12-month low of $12.97 and a 12-month high of $21.72. The business has a 50-day moving average price of $14.56 and a two-hundred day moving average price of $15.67.

Pacific Gas & Electric (NYSE:PCG - Get Free Report) last released its 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 quarter in the previous year, the firm earned $0.31 earnings per share. The firm's revenue was down 1.5% compared to the same quarter last year. Pacific Gas & Electric has set its FY 2025 guidance at 1.480-1.520 EPS. On average, sell-side analysts expect that Pacific Gas & Electric Co. will post 1.49 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of research analysts have recently issued reports on PCG shares. Mizuho lifted their price objective on shares of Pacific Gas & Electric from $20.00 to $21.00 and gave the company an "outperform" rating in a report on Monday, May 19th. Morgan Stanley restated an "underweight" rating on shares of Pacific Gas & Electric in a report on Thursday, August 21st. Argus upgraded shares of Pacific Gas & Electric to a "hold" rating in a report on Monday, June 16th. UBS Group set a $19.00 price target on shares of Pacific Gas & Electric in a report on Friday, August 29th. Finally, Zacks Research upgraded shares of Pacific Gas & Electric from a "strong sell" rating to a "hold" rating in a report on Monday, August 18th. Six 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's stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Hold" and an average target price of $20.20.

Pacific Gas & Electric Company 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.