Bayforest Capital Ltd Buys 25,752 Shares of Pacific Gas & Electric Co. $PCG

Key Points

• Bayforest Capital Ltd increased its holdings in Pacific Gas & Electric Co. by 763% in the first quarter, now owning 29,127 shares valued at approximately $500,000.
• Multiple hedge funds have significantly boosted their stakes, with the Canada Pension Plan Investment Board increasing its position by 352.3%, now holding nearly 19.2 million shares worth about $329 million.
• Pacific Gas & Electric reported a net margin of 9.95% for the last quarter, missing earnings per share estimates, with a revenue decline of 1.5% year-over-year.

Bayforest Capital Ltd boosted its holdings in shares of Pacific Gas & Electric Co. (NYSE:PCG - Free Report) by 763.0% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 29,127 shares of the utilities provider's stock after acquiring an additional 25,752 shares during the quarter. Bayforest Capital Ltd's holdings in Pacific Gas & Electric were worth $500,000 at the end of the most recent quarter.

A number of other institutional investors have also recently added to or reduced their stakes in PCG. Deseret Mutual Benefit Administrators boosted its stake 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 valued at $37,000 after purchasing an additional 674 shares during the last quarter. Farther Finance Advisors LLC boosted its stake in Pacific Gas & Electric by 1.9% during the first quarter. Farther Finance Advisors LLC now owns 42,747 shares of the utilities provider's stock worth $738,000 after acquiring an additional 785 shares in the last quarter. Parallel Advisors LLC boosted its stake in Pacific Gas & Electric by 2.4% during the first quarter. Parallel Advisors LLC now owns 38,625 shares of the utilities provider's stock worth $664,000 after acquiring an additional 887 shares in the last quarter. Oregon Public Employees Retirement Fund boosted its stake in Pacific Gas & Electric by 0.5% during the first quarter. Oregon Public Employees Retirement Fund now owns 188,411 shares of the utilities provider's stock worth $3,237,000 after acquiring an additional 1,010 shares in the last quarter. Finally, Gemmer Asset Management LLC boosted its stake in Pacific Gas & Electric by 3.0% during the first quarter. Gemmer Asset Management LLC now owns 39,772 shares of the utilities provider's stock worth $683,000 after acquiring an additional 1,165 shares in the last quarter. 78.56% of the stock is owned by institutional investors.

Pacific Gas & Electric Price Performance

Shares of PCG stock traded down $0.03 during trading hours on Monday, hitting $15.43. 10,741,245 shares of the company's stock were exchanged, compared to its average volume of 23,857,723. The company has a market capitalization of $41.27 billion, a PE ratio of 14.10, a PEG ratio of 1.15 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's 50 day simple moving average is $14.56 and its 200-day simple moving average is $15.67. The company has a current ratio of 0.94, a quick ratio of 0.89 and a debt-to-equity ratio of 1.81.

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 the consensus estimate 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 analysts' expectations of $6.37 billion. During the same period in the previous year, the firm earned $0.31 earnings per share. The firm's quarterly 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, equities research analysts anticipate that Pacific Gas & Electric Co. will post 1.49 earnings per share for the current year.

Analyst Ratings Changes

Several research firms have weighed in on PCG. Mizuho upped their price objective on shares of Pacific Gas & Electric from $20.00 to $21.00 and gave the stock an "outperform" rating in a report on Monday, May 19th. Argus upgraded shares of Pacific Gas & Electric to a "hold" rating in a report on Monday, June 16th. Zacks Research upgraded shares of Pacific Gas & Electric from a "strong sell" rating to a "hold" rating in a report on Monday, August 18th. Barclays lowered 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. Finally, UBS Group set a $19.00 price objective on shares of Pacific Gas & Electric in a report on Friday, August 29th. Six equities research analysts have rated the stock with a Buy rating, five have assigned a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, the company currently has an average rating of "Hold" and a consensus price target of $20.20.

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.