Quarry LP Has $1.75 Million Stock Holdings in Pacific Gas & Electric Co. $PCG

Key Points

• Quarry LP significantly increased its holdings in Pacific Gas & Electric Co. by 1,302.4% in Q1, now owning 102,109 shares worth approximately $1.75 million.
• A variety of institutional investors have also raised their stakes in Pacific Gas & Electric, demonstrating strong institutional support as they own 78.56% of the company's stock.
• Analysts have mixed views on Pacific Gas & Electric, with a consensus rating of Hold and a target price averaging $20.55, reflecting ongoing uncertainty in the stock's future performance.

Quarry LP raised its holdings in shares of Pacific Gas & Electric Co. (NYSE:PCG - Free Report) by 1,302.4% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 102,109 shares of the utilities provider's stock after purchasing an additional 94,828 shares during the quarter. Quarry LP's holdings in Pacific Gas & Electric were worth $1,754,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently modified their holdings of the company. Deseret Mutual Benefit Administrators lifted its holdings 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 buying an additional 674 shares in the last quarter. Farther Finance Advisors LLC grew its position in Pacific Gas & Electric by 1.9% in the first quarter. Farther Finance Advisors LLC now owns 42,747 shares of the utilities provider's stock valued at $738,000 after acquiring an additional 785 shares during the last quarter. Parallel Advisors LLC grew its position in Pacific Gas & Electric by 2.4% in the first quarter. Parallel Advisors LLC now owns 38,625 shares of the utilities provider's stock valued at $664,000 after acquiring an additional 887 shares during the last quarter. Oregon Public Employees Retirement Fund grew its position in Pacific Gas & Electric by 0.5% in the first quarter. Oregon Public Employees Retirement Fund now owns 188,411 shares of the utilities provider's stock valued at $3,237,000 after acquiring an additional 1,010 shares during the last quarter. Finally, Gemmer Asset Management LLC grew its holdings in shares of 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 purchasing an additional 1,165 shares during the last quarter. Institutional investors and hedge funds own 78.56% of the company's stock.

Wall Street Analysts Forecast Growth

Several analysts have recently weighed in on PCG shares. Zacks Research upgraded Pacific Gas & Electric from a "strong sell" rating to a "hold" rating in a report on Monday, August 18th. Argus raised Pacific Gas & Electric to a "hold" rating in a research note on Monday, June 16th. Morgan Stanley reissued 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 on the stock in a research report on Tuesday, July 22nd. Finally, Mizuho upped their target price on Pacific Gas & Electric from $20.00 to $21.00 and gave the stock an "outperform" rating in a research report on Monday, May 19th. Seven 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 stock. According to data from MarketBeat.com, Pacific Gas & Electric presently has an average rating of "Hold" and a consensus price target of $20.55.

Pacific Gas & Electric Stock Up 2.0%

Shares of NYSE:PCG opened at $15.30 on Friday. The company has a market capitalization of $40.92 billion, a PE ratio of 14.03, a price-to-earnings-growth ratio of 1.14 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 has a fifty day moving average price of $14.31 and a two-hundred day moving average price of $15.70. 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 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). The business had revenue of $5.90 billion during the quarter, compared to the consensus estimate of $6.37 billion. Pacific Gas & Electric had a net margin of 9.95% and a return on equity of 10.13%. The firm's revenue for the quarter was down 1.5% compared to the same quarter last year. During the same quarter last year, the company earned $0.31 EPS. Pacific Gas & Electric has set its FY 2025 guidance at 1.480-1.520 EPS. Analysts forecast that Pacific Gas & Electric Co. will post 1.49 earnings per share for the current year.

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.

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