Rafferty Asset Management LLC Sells 48,059 Shares of Pacific Gas & Electric Co. $PCG

Key Points

• Rafferty Asset Management LLC reduced its stake in Pacific Gas & Electric Co. by 19.6%, holding 197,394 shares worth approximately $3.39 million after selling 48,059 shares.
• Pacific Gas & Electric reported quarterly earnings of $0.31 EPS, missing analyst estimates of $0.33 EPS, with revenue falling 1.5% year-over-year to $5.90 billion.
• Institutional investors own 78.56% of Pacific Gas & Electric's stock, with various firms adjusting their holdings significantly during the first quarter.

Rafferty Asset Management LLC trimmed its holdings in shares of Pacific Gas & Electric Co. (NYSE:PCG - Free Report) by 19.6% in the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 197,394 shares of the utilities provider's stock after selling 48,059 shares during the period. Rafferty Asset Management LLC's holdings in Pacific Gas & Electric were worth $3,391,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of PCG. Zimmer Partners LP increased its holdings in Pacific Gas & Electric by 84.9% during the 4th quarter. Zimmer Partners LP now owns 12,661,324 shares of the utilities provider's stock valued at $255,506,000 after purchasing an additional 5,814,624 shares in the last quarter. Vanguard Group Inc. increased its holdings in Pacific Gas & Electric by 1.2% during the 1st quarter. Vanguard Group Inc. now owns 257,285,352 shares of the utilities provider's stock valued at $4,420,162,000 after purchasing an additional 2,926,384 shares in the last quarter. Zurich Insurance Group Ltd FI increased its holdings in Pacific Gas & Electric by 272.5% during the 4th quarter. Zurich Insurance Group Ltd FI now owns 3,560,305 shares of the utilities provider's stock valued at $71,847,000 after purchasing an additional 2,604,445 shares in the last quarter. Aberdeen Group plc increased its holdings in Pacific Gas & Electric by 151.4% during the 1st quarter. Aberdeen Group plc now owns 4,077,811 shares of the utilities provider's stock valued at $69,506,000 after purchasing an additional 2,455,807 shares in the last quarter. Finally, BROOKFIELD Corp ON increased its holdings in Pacific Gas & Electric by 16.2% during the 4th quarter. BROOKFIELD Corp ON now owns 14,692,444 shares of the utilities provider's stock valued at $296,494,000 after purchasing an additional 2,049,359 shares in the last quarter. 78.56% of the stock is owned by institutional investors and hedge funds.

Pacific Gas & Electric Trading Down 0.8%

Shares of NYSE:PCG traded down $0.12 during midday trading on Thursday, hitting $15.23. The company had a trading volume of 17,619,280 shares, compared to its average volume of 21,174,052. Pacific Gas & Electric Co. has a 12 month low of $12.97 and a 12 month high of $21.72. The company has a current ratio of 0.94, a quick ratio of 0.89 and a debt-to-equity ratio of 1.81. The stock has a market cap of $40.74 billion, a price-to-earnings ratio of 13.97, a PEG ratio of 1.14 and a beta of 0.57. The firm has a fifty day simple moving average of $14.42 and a 200 day simple moving average of $15.70.

Pacific Gas & Electric (NYSE:PCG - Get Free Report) last posted its quarterly earnings results on Thursday, July 31st. The utilities provider reported $0.31 earnings per share (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 company had revenue of $5.90 billion during the quarter, compared to the consensus estimate of $6.37 billion. During the same quarter in the prior year, the business earned $0.31 earnings per share. The firm's revenue for the quarter was down 1.5% on a year-over-year basis. Pacific Gas & Electric has set its FY 2025 guidance at 1.480-1.520 EPS. On average, analysts predict that Pacific Gas & Electric Co. will post 1.49 EPS for the current year.

Analyst Upgrades and Downgrades

PCG has been the topic of a number of recent research reports. Mizuho increased their price objective on Pacific Gas & Electric from $20.00 to $21.00 and gave the company an "outperform" rating in a research report on Monday, May 19th. UBS Group set a $19.00 price objective on Pacific Gas & Electric in a research report on Friday, August 29th. Morgan Stanley reiterated an "underweight" rating on shares of Pacific Gas & Electric in a research report on Thursday, August 21st. Zacks Research upgraded Pacific Gas & Electric from a "strong sell" rating to a "hold" rating in a research report on Monday, August 18th. Finally, Argus upgraded Pacific Gas & Electric to a "hold" rating in a research report on Monday, June 16th. Seven research analysts have rated the stock with a Buy rating, five have given a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of "Hold" and a consensus target price of $20.55.

Pacific Gas & Electric Company 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.