Pacific Gas & Electric Co. $PCG Shares Acquired by Banco Bilbao Vizcaya Argentaria S.A.

Key Points

• Banco Bilbao Vizcaya Argentaria S.A. increased its stake in Pacific Gas & Electric Co. by 17.0%, owning 635,758 shares valued at approximately $10.9 million.
• Pacific Gas & Electric reported a quarterly EPS of $0.31, below the consensus estimate, accompanied by a revenue of $5.90 billion, down 1.5% year-over-year.
• The company announced a quarterly dividend of $0.025 per share, reflecting a low annual dividend yield of 0.6% and a payout ratio of 9.17%.

Banco Bilbao Vizcaya Argentaria S.A. grew its position in Pacific Gas & Electric Co. (NYSE:PCG - Free Report) by 17.0% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 635,758 shares of the utilities provider's stock after acquiring an additional 92,286 shares during the period. Banco Bilbao Vizcaya Argentaria S.A.'s holdings in Pacific Gas & Electric were worth $10,935,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also made changes to their positions in PCG. Costello Asset Management INC purchased a new stake in shares of Pacific Gas & Electric in the first quarter valued at about $31,000. True Wealth Design LLC boosted its holdings in shares of Pacific Gas & Electric by 1,233.6% in the fourth quarter. True Wealth Design LLC now owns 1,827 shares of the utilities provider's stock valued at $37,000 after acquiring an additional 1,690 shares in the last quarter. Deseret Mutual Benefit Administrators boosted its holdings in shares of Pacific Gas & Electric by 45.0% in the first quarter. Deseret Mutual Benefit Administrators now owns 2,173 shares of the utilities provider's stock valued at $37,000 after acquiring an additional 674 shares in the last quarter. Colonial Trust Co SC boosted its holdings in shares of Pacific Gas & Electric by 563.0% in the fourth quarter. Colonial Trust Co SC now owns 1,916 shares of the utilities provider's stock valued at $39,000 after acquiring an additional 1,627 shares in the last quarter. Finally, Larson Financial Group LLC boosted its holdings in shares of Pacific Gas & Electric by 198.1% in the first quarter. Larson Financial Group LLC now owns 3,050 shares of the utilities provider's stock valued at $52,000 after acquiring an additional 2,027 shares in the last quarter. Hedge funds and other institutional investors own 78.56% of the company's stock.

Pacific Gas & Electric Price Performance

PCG traded up $0.4950 during midday trading on Friday, reaching $15.1650. 27,071,795 shares of the company's stock were exchanged, 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 stock has a market capitalization of $40.58 billion, a PE ratio of 13.91, a P/E/G ratio of 1.13 and a beta of 0.54. The business's 50-day moving average price is $14.19 and its 200 day moving average price is $15.73. Pacific Gas & Electric Co. has a 1-year low of $12.97 and a 1-year 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 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.33 by ($0.02). The business had revenue of $5.90 billion for the quarter, compared to analyst estimates 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 was down 1.5% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.31 EPS. Pacific Gas & Electric has set its FY 2025 guidance at 1.480-1.520 EPS. As a group, equities analysts anticipate that Pacific Gas & Electric Co. will post 1.49 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several analysts recently commented on PCG shares. Zacks Research upgraded shares of Pacific Gas & Electric from a "strong sell" rating to a "hold" rating in a research note on Monday, August 18th. Barclays reduced their price objective 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 raised their price objective 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 raised their price objective 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 price objective on shares of Pacific Gas & Electric and gave the company an "underweight" rating in a research note on Thursday, May 22nd. Seven investment 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, the company has an average rating of "Hold" and a consensus target price of $20.55.

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.