Pacific Gas & Electric Co. $PCG Shares Bought by BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp

Key Points

• BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp increased its stake in Pacific Gas & Electric Co. by 7.9% in the first quarter, acquiring an additional 30,627 shares, bringing its total holdings to 419,490 shares valued at approximately $7,207,000.
• Equities analysts have mixed ratings on Pacific Gas & Electric, with seven analysts rating it as a Buy, five as a Hold, and one as a Sell, resulting in a consensus rating of "Hold" and an average price target of $20.55.
• Pacific Gas & Electric reported a net margin of 9.95% for the last quarter, with a revenue of $5.90 billion, which fell short of analysts' expectations of $6.37 billion, indicating a 1.5% year-over-year revenue decline.

BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp increased its stake in Pacific Gas & Electric Co. (NYSE:PCG - Free Report) by 7.9% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 419,490 shares of the utilities provider's stock after buying an additional 30,627 shares during the quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp's holdings in Pacific Gas & Electric were worth $7,207,000 as of its most recent SEC filing.

Other institutional investors also recently bought and sold shares of the company. Cambridge Investment Research Advisors Inc. lifted its position in Pacific Gas & Electric by 55.6% in the first quarter. Cambridge Investment Research Advisors Inc. now owns 77,846 shares of the utilities provider's stock worth $1,337,000 after buying an additional 27,832 shares during the last quarter. Golden State Wealth Management LLC lifted its position in Pacific Gas & Electric by 431.2% in the first quarter. Golden State Wealth Management LLC now owns 3,469 shares of the utilities provider's stock worth $60,000 after buying an additional 2,816 shares during the last quarter. GAMMA Investing LLC lifted its position in Pacific Gas & Electric by 738.7% in the first quarter. GAMMA Investing LLC now owns 176,043 shares of the utilities provider's stock worth $3,024,000 after buying an additional 155,052 shares during the last quarter. Blue Trust Inc. lifted its position in Pacific Gas & Electric by 38.1% in the first quarter. Blue Trust Inc. now owns 5,316 shares of the utilities provider's stock worth $91,000 after buying an additional 1,468 shares during the last quarter. Finally, Wealth Enhancement Advisory Services LLC lifted its position in Pacific Gas & Electric by 138.8% in the first quarter. Wealth Enhancement Advisory Services LLC now owns 254,549 shares of the utilities provider's stock worth $4,373,000 after buying an additional 147,964 shares during the last quarter. 78.56% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

PCG has been the subject of a number of analyst reports. Zacks Research upgraded Pacific Gas & Electric from a "strong sell" rating to a "hold" rating in a research report on Monday, August 18th. Mizuho lifted their price objective on Pacific Gas & Electric from $20.00 to $21.00 and gave the company an "outperform" rating in a report on Monday, May 19th. Barclays reduced their target price on shares of Pacific Gas & Electric from $22.00 to $20.00 and set an "overweight" rating for the company in a report on Tuesday, July 22nd. Morgan Stanley reiterated an "underweight" rating on shares of Pacific Gas & Electric in a report on Thursday, August 21st. Finally, Argus upgraded Pacific Gas & Electric to a "hold" rating in a research note on Monday, June 16th. Seven analysts have rated the stock with a Buy rating, five have issued a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, the stock currently has an average rating of "Hold" and a consensus price target of $20.55.

Pacific Gas & Electric Stock Performance

NYSE PCG traded down $0.09 during trading hours on Thursday, reaching $15.00. The stock had a trading volume of 16,225,867 shares, compared to its average volume of 23,636,691. The stock has a fifty day moving average of $14.26 and a 200 day moving average of $15.71. The stock has a market cap of $40.12 billion, a P/E ratio of 13.76, a price-to-earnings-growth ratio of 1.12 and a beta of 0.54. Pacific Gas & Electric Co. has a 52-week low of $12.97 and a 52-week high of $21.72. 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 issued its 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 firm had revenue of $5.90 billion during the quarter, compared to analysts' expectations of $6.37 billion. Pacific Gas & Electric had a net margin of 9.95% and a return on equity of 10.13%. Pacific Gas & Electric's quarterly revenue was down 1.5% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.31 EPS. Pacific Gas & Electric has set its FY 2025 guidance at 1.480-1.520 EPS. Sell-side analysts predict that Pacific Gas & Electric Co. will post 1.49 earnings per share for the current 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.