Price T Rowe Associates Inc. MD Has $495.87 Million Stock Position in Pacific Gas & Electric Co. $PCG

Key Points

• Price T Rowe Associates Inc. MD has reduced its stake in Pacific Gas & Electric Co. by 33.4%, selling over 14 million shares, and now holds approximately 1.08% of the company valued at around $495.9 million.
• Several institutional investors have increased their holdings in Pacific Gas & Electric recently, with notable increases from Cambridge Investment Research Advisors Inc. (up 55.6%) and GAMMA Investing LLC (up 738.7%).
• Pacific Gas & Electric reported Q2 earnings of $0.31 EPS, missing estimates, alongside a revenue drop of 1.5% from the previous year, leading to a guidance adjustment for FY 2025 to an EPS range of $1.480-$1.520.

Price T Rowe Associates Inc. MD lowered its position in shares of Pacific Gas & Electric Co. (NYSE:PCG - Free Report) by 33.4% in the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 28,863,339 shares of the utilities provider's stock after selling 14,477,511 shares during the quarter. Price T Rowe Associates Inc. MD owned approximately 1.08% of Pacific Gas & Electric worth $495,874,000 at the end of the most recent quarter.

A number of other hedge funds have also made changes to their positions in PCG. Dimensional Fund Advisors LP increased its position in shares of Pacific Gas & Electric by 9.7% during the 4th quarter. Dimensional Fund Advisors LP now owns 7,584,262 shares of the utilities provider's stock worth $153,048,000 after purchasing an additional 670,642 shares in the last quarter. MML Investors Services LLC increased its position in shares of Pacific Gas & Electric by 51.3% during the 4th quarter. MML Investors Services LLC now owns 89,459 shares of the utilities provider's stock worth $1,805,000 after purchasing an additional 30,349 shares in the last quarter. Dark Forest Capital Management LP increased its position in shares of Pacific Gas & Electric by 90.4% during the 4th quarter. Dark Forest Capital Management LP now owns 25,429 shares of the utilities provider's stock worth $513,000 after purchasing an additional 12,075 shares in the last quarter. Pinebridge Investments L.P. increased its position in shares of Pacific Gas & Electric by 198.9% during the 4th quarter. Pinebridge Investments L.P. now owns 207,102 shares of the utilities provider's stock worth $4,179,000 after purchasing an additional 137,810 shares in the last quarter. Finally, Integrated Wealth Concepts LLC increased its position in shares of Pacific Gas & Electric by 26.5% during the 4th quarter. Integrated Wealth Concepts LLC now owns 40,468 shares of the utilities provider's stock worth $817,000 after purchasing an additional 8,478 shares in the last quarter. Institutional investors and hedge funds own 78.56% of the company's stock.

Analyst Upgrades and Downgrades

A number of analysts have recently weighed in on the company. Morgan Stanley restated an "underweight" rating on shares of Pacific Gas & Electric in a research note on Thursday, August 21st. Barclays lowered their target price on 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. Mizuho raised their target price on Pacific Gas & Electric from $20.00 to $21.00 and gave the company an "outperform" rating in a research note on Monday, May 19th. Zacks Research upgraded Pacific Gas & Electric from a "strong sell" rating to a "hold" rating in a research note on Monday, August 18th. Finally, Argus upgraded Pacific Gas & Electric to a "hold" rating in a research note on Monday, June 16th. 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 data from MarketBeat, the stock presently has a consensus rating of "Hold" and an average price target of $20.55.

Pacific Gas & Electric Trading Up 0.4%

Shares of Pacific Gas & Electric stock traded up $0.06 during trading on Wednesday, reaching $15.11. 14,524,391 shares of the company were exchanged, compared to its average volume of 23,655,623. The company has a quick ratio of 0.89, a current ratio of 0.94 and a debt-to-equity ratio of 1.81. Pacific Gas & Electric Co. has a twelve month low of $12.97 and a twelve month high of $21.72. The business has a 50-day moving average price of $14.24 and a 200-day moving average price of $15.72. The firm has a market capitalization of $40.41 billion, a price-to-earnings ratio of 13.86, a P/E/G ratio of 1.11 and a beta of 0.54.

Pacific Gas & Electric (NYSE:PCG - Get Free Report) last issued 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 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 quarterly revenue was down 1.5% compared to the same quarter last year. During the same period in the previous year, the business posted $0.31 EPS. 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 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.