Pacific Gas & Electric Co. $PCG Shares Sold by American Century Companies Inc.

Key Points

• American Century Companies Inc. has reduced its stake in Pacific Gas & Electric Co. by 9.2%, now holding approximately 1,099,656 shares worth around $18.89 million.
• Analysts have set a range of new price targets for Pacific Gas & Electric, with Morgan Stanley suggesting a target of $18.00 while Mizuho has set a higher target at $21.00.
• Pacific Gas & Electric reported a missed earnings estimate for the last quarter, posting $0.31 earnings per share versus a projected $0.33, amidst a revenue decline of 1.5% year-over-year.

American Century Companies Inc. trimmed its holdings in shares of Pacific Gas & Electric Co. (NYSE:PCG - Free Report) by 9.2% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 1,099,656 shares of the utilities provider's stock after selling 110,942 shares during the quarter. American Century Companies Inc.'s holdings in Pacific Gas & Electric were worth $18,892,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also made changes to their positions in the business. Deseret Mutual Benefit Administrators lifted its position in shares of 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 purchasing an additional 674 shares during the last quarter. Farther Finance Advisors LLC lifted its position in shares of 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 purchasing an additional 785 shares during the last quarter. Optiver Holding B.V. lifted its position in shares of Pacific Gas & Electric by 23.9% during the fourth quarter. Optiver Holding B.V. now owns 4,271 shares of the utilities provider's stock worth $86,000 after purchasing an additional 825 shares during the last quarter. Parallel Advisors LLC lifted its position in shares of 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 purchasing an additional 887 shares during the last quarter. Finally, Oregon Public Employees Retirement Fund lifted its position in shares of 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 purchasing an additional 1,010 shares during the last quarter. 78.56% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several research firms have recently weighed in on PCG. Argus upgraded Pacific Gas & Electric to a "hold" rating in a research report on Monday, June 16th. Zacks Research upgraded Pacific Gas & Electric from a "strong sell" rating to a "hold" rating in a report on Monday, August 18th. Barclays decreased their price objective on 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 restated an "underweight" rating on shares of Pacific Gas & Electric in a report on Thursday, August 21st. Finally, 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. Seven equities research 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's stock. Based on data from MarketBeat.com, the company has a consensus rating of "Hold" and an average price target of $20.55.

Pacific Gas & Electric Stock Down 0.8%

Pacific Gas & Electric stock traded down $0.13 during trading hours on Thursday, reaching $14.96. The stock had a trading volume of 8,362,620 shares, compared to its average volume of 23,585,461. The company has a market cap of $40.01 billion, a price-to-earnings ratio of 13.71, a PEG ratio of 1.12 and a beta of 0.54. 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 business's 50 day moving average price is $14.26 and its 200-day moving average price is $15.71. Pacific Gas & Electric Co. has a 52 week low of $12.97 and a 52 week high of $21.72.

Pacific Gas & Electric (NYSE:PCG - Get Free Report) last announced 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 the consensus estimate of $6.37 billion. Pacific Gas & Electric had a return on equity of 10.13% and a net margin of 9.95%.The business's revenue for the quarter was down 1.5% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.31 earnings per share. Pacific Gas & Electric has set its FY 2025 guidance at 1.480-1.520 EPS. Sell-side analysts anticipate that Pacific Gas & Electric Co. will post 1.49 EPS for the current 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.