Maven Securities LTD Purchases 115,829 Shares of Pacific Gas & Electric Co. $PCG

Key Points

• Maven Securities LTD significantly increased its stake in Pacific Gas & Electric Co. by 660.9% during the first quarter, acquiring a total of 133,356 shares valued at approximately $2.29 million.
• Brokerage firm Wells Fargo & Company has restated an "overweight" rating on PCG shares with a price target of $24.00, while Jefferies Financial Group raised its target from $20 to $22.00.
• Pacific Gas & Electric reported earnings per share of $0.31 for the last quarter, missing estimates by $0.02, with a revenue decline of 1.5% year-over-year.

Maven Securities LTD increased its position in Pacific Gas & Electric Co. (NYSE:PCG - Free Report) by 660.9% in the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 133,356 shares of the utilities provider's stock after acquiring an additional 115,829 shares during the period. Maven Securities LTD's holdings in Pacific Gas & Electric were worth $2,291,000 at the end of the most recent reporting period.

A number of other hedge funds also recently added to or reduced their stakes in the company. Deseret Mutual Benefit Administrators raised its holdings in 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 last quarter. Farther Finance Advisors LLC raised its stake in Pacific Gas & Electric by 1.9% during the 1st quarter. Farther Finance Advisors LLC now owns 42,747 shares of the utilities provider's stock valued at $738,000 after buying an additional 785 shares during the last quarter. Optiver Holding B.V. raised its stake in Pacific Gas & Electric by 23.9% during the 4th quarter. Optiver Holding B.V. now owns 4,271 shares of the utilities provider's stock valued at $86,000 after buying an additional 825 shares during the last quarter. Parallel Advisors LLC raised its stake in Pacific Gas & Electric by 2.4% during the 1st quarter. Parallel Advisors LLC now owns 38,625 shares of the utilities provider's stock valued at $664,000 after buying an additional 887 shares during the last quarter. Finally, Oregon Public Employees Retirement Fund raised its stake in Pacific Gas & Electric by 0.5% during the 1st quarter. Oregon Public Employees Retirement Fund now owns 188,411 shares of the utilities provider's stock valued at $3,237,000 after buying an additional 1,010 shares during the last quarter. 78.56% of the stock is currently owned by hedge funds and other institutional investors.

Pacific Gas & Electric Stock Performance

Shares of NYSE:PCG traded up $0.4950 during midday trading on Friday, hitting $15.1650. The company had a trading volume of 27,071,795 shares, compared to its average volume of 28,466,784. The company has a debt-to-equity ratio of 1.81, a current ratio of 0.94 and a quick ratio of 0.89. The company has a market cap of $40.58 billion, a price-to-earnings ratio of 13.91, a PEG ratio of 1.09 and a beta of 0.54. Pacific Gas & Electric Co. has a 12-month low of $12.97 and a 12-month high of $21.72. The company has a fifty day moving average of $14.19 and a two-hundred day moving average of $15.73.

Pacific Gas & Electric (NYSE:PCG - Get Free Report) last posted its quarterly earnings data 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 during the quarter, compared to analysts' expectations of $6.37 billion. Pacific Gas & Electric had a return on equity of 10.13% and a net margin of 9.95%.The company's revenue for the quarter was down 1.5% on a year-over-year basis. During the same quarter last year, the company earned $0.31 earnings per share. Pacific Gas & Electric has set its FY 2025 guidance at 1.480-1.520 EPS. On average, equities research analysts expect that Pacific Gas & Electric Co. will post 1.49 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of equities research analysts have weighed in on the stock. Guggenheim boosted their target price on shares of Pacific Gas & Electric from $16.00 to $17.00 and gave the company a "neutral" rating in a research note on Friday, April 25th. Barclays decreased 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 research note on Tuesday, July 22nd. Evercore ISI boosted 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. Mizuho boosted their target price on shares of Pacific Gas & Electric from $20.00 to $21.00 and gave the company an "outperform" rating in a research note on Monday, May 19th. 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 analysts have rated the stock with a Buy rating, five have given a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, Pacific Gas & Electric presently has a consensus rating of "Hold" and a consensus price target of $20.55.

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.