Vident Advisory LLC Buys 17,159 Shares of Pacific Gas & Electric Co. $PCG

Key Points

• Vident Advisory LLC significantly increased its stake in Pacific Gas & Electric Co. by 132.9% during the 1st quarter, now holding a total of 30,075 shares valued at $517,000.
• Several institutional investors, including Vanguard Group and Canada Pension Plan Investment Board, have also increased their holdings, signaling strong confidence in the company, which now has 78.56% of its shares owned by institutional investors.
• Pacific Gas & Electric's stock is currently priced at $15.08, with a consensus rating of "Hold" and a target price of $20.55, reflecting varying analyst positions on the company's future performance.

Vident Advisory LLC boosted its holdings in shares of Pacific Gas & Electric Co. (NYSE:PCG - Free Report) by 132.9% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 30,075 shares of the utilities provider's stock after purchasing an additional 17,159 shares during the quarter. Vident Advisory LLC's holdings in Pacific Gas & Electric were worth $517,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in PCG. Captrust Financial Advisors raised its stake in Pacific Gas & Electric by 28.7% during the 4th quarter. Captrust Financial Advisors now owns 82,768 shares of the utilities provider's stock valued at $1,670,000 after purchasing an additional 18,470 shares during the period. Cetera Investment Advisers raised its stake in Pacific Gas & Electric by 14.5% during the 4th quarter. Cetera Investment Advisers now owns 101,240 shares of the utilities provider's stock valued at $2,043,000 after purchasing an additional 12,847 shares during the period. Colonial Trust Co SC raised its stake in Pacific Gas & Electric by 563.0% during the 4th quarter. Colonial Trust Co SC now owns 1,916 shares of the utilities provider's stock valued at $39,000 after purchasing an additional 1,627 shares during the period. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main bought a new stake in Pacific Gas & Electric during the 4th quarter valued at approximately $258,000. Finally, Ethic Inc. grew its stake in Pacific Gas & Electric by 26.1% during the fourth quarter. Ethic Inc. now owns 62,465 shares of the utilities provider's stock valued at $1,261,000 after acquiring an additional 12,911 shares in the last quarter. Institutional investors own 78.56% of the company's stock.

Analysts Set New Price Targets

PCG has been the subject of several research analyst reports. Argus raised shares of Pacific Gas & Electric to a "hold" rating in a research note on Monday, June 16th. Mizuho raised 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. Barclays cut 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. Zacks Research raised shares of Pacific Gas & Electric from a "strong sell" rating to a "hold" rating in a research note on Monday, August 18th. Finally, Morgan Stanley reaffirmed an "underweight" rating on shares of Pacific Gas & Electric in a research note on Thursday, August 21st. Six research analysts have rated the stock with a Buy rating, five have assigned a Hold rating and one has issued a Sell rating to the company's stock. Based on data from MarketBeat.com, the company has a consensus rating of "Hold" and an average target price of $20.20.

Pacific Gas & Electric Price Performance

NYSE:PCG traded down $0.26 during trading hours on Friday, reaching $15.47. The stock 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. Pacific Gas & Electric Co. has a 52 week low of $12.97 and a 52 week high of $21.72. The company has a 50 day moving average price of $14.56 and a two-hundred day moving average price of $15.67. The stock has a market capitalization of $41.39 billion, a PE ratio of 14.19, a PEG ratio of 1.17 and a beta of 0.57.

Pacific Gas & Electric (NYSE:PCG - Get Free Report) last released its quarterly earnings data on Thursday, July 31st. The utilities provider reported $0.31 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.33 by ($0.02). Pacific Gas & Electric had a return on equity of 10.13% and a net margin of 9.95%.The firm had revenue of $5.90 billion during the quarter, compared to the consensus estimate of $6.37 billion. During the same period in the previous year, the firm earned $0.31 EPS. The business'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. As a group, sell-side analysts anticipate that Pacific Gas & Electric Co. will post 1.49 earnings per share for the current fiscal year.

Pacific Gas & Electric 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.