Raymond James Financial Inc. Boosts Holdings in Pacific Gas & Electric Co. $PCG

Key Points

• Raymond James Financial Inc. increased its stake in Pacific Gas & Electric Co. by 11.6%, acquiring an additional 142,423 shares during the first quarter, bringing their total ownership to approximately $23.5 million.
• The stock of Pacific Gas & Electric has recently experienced a 1.7% decline, with a current market cap of $39.95 billion and a 52-week trading range between $12.97 and $21.72.
• Despite missing earnings estimates with $0.31 per share against a $0.33 forecast, the firm is anticipated to post 1.49 EPS for the current fiscal year, according to analysts' predictions.

Raymond James Financial Inc. grew its stake in shares of Pacific Gas & Electric Co. (NYSE:PCG - Free Report) by 11.6% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 1,369,883 shares of the utilities provider's stock after purchasing an additional 142,423 shares during the quarter. Raymond James Financial Inc. owned approximately 0.05% of Pacific Gas & Electric worth $23,535,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently made changes to their positions in the company. Cresset Asset Management LLC raised its holdings in Pacific Gas & Electric by 76.6% in the first quarter. Cresset Asset Management LLC now owns 24,692 shares of the utilities provider's stock worth $425,000 after purchasing an additional 10,711 shares in the last quarter. Aberdeen Group plc increased its holdings in Pacific Gas & Electric by 151.4% in the 1st quarter. Aberdeen Group plc now owns 4,077,811 shares of the utilities provider's stock worth $69,506,000 after buying an additional 2,455,807 shares during the period. Horizon Investments LLC grew its stake in shares of Pacific Gas & Electric by 7.7% during the 1st quarter. Horizon Investments LLC now owns 31,612 shares of the utilities provider's stock worth $543,000 after purchasing an additional 2,247 shares during the period. Kovitz Investment Group Partners LLC grew its stake in shares of Pacific Gas & Electric by 18.7% during the 1st quarter. Kovitz Investment Group Partners LLC now owns 1,919,829 shares of the utilities provider's stock worth $32,983,000 after purchasing an additional 302,799 shares during the period. Finally, Financial Network Wealth Advisors LLC grew its stake in Pacific Gas & Electric by 57.7% in the 1st quarter. Financial Network Wealth Advisors LLC now owns 3,445 shares of the utilities provider's stock valued at $59,000 after acquiring an additional 1,260 shares during the period. 78.56% of the stock is currently owned by institutional investors.

Pacific Gas & Electric Stock Down 1.7%

PCG opened at $14.93 on Tuesday. The company has a quick ratio of 0.89, a current ratio of 0.94 and a debt-to-equity ratio of 1.81. The firm has a market cap of $39.95 billion, a P/E ratio of 13.70, a PEG ratio of 1.13 and a beta of 0.54. Pacific Gas & Electric Co. has a 52 week low of $12.97 and a 52 week high of $21.72. The business's fifty day simple moving average is $14.21 and its 200 day simple moving average is $15.72.

Pacific Gas & Electric (NYSE:PCG - Get Free Report) last released its earnings results on Thursday, July 31st. The utilities provider reported $0.31 earnings per share 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 analysts' expectations 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 quarter last year, the company posted $0.31 earnings per share. Pacific Gas & Electric has set its FY 2025 guidance at 1.480-1.520 EPS. As a group, equities research analysts anticipate that Pacific Gas & Electric Co. will post 1.49 EPS for the current fiscal year.

Wall Street Analyst Weigh In

PCG has been the topic of a number of research reports. Morgan Stanley set a $18.00 price objective on Pacific Gas & Electric and gave the company an "underweight" rating in a report on Thursday, May 22nd. Barclays dropped their target price on Pacific Gas & Electric from $22.00 to $20.00 and set an "overweight" rating for the company in a research report on Tuesday, July 22nd. Argus raised Pacific Gas & Electric to a "hold" rating in a research report on Monday, June 16th. Evercore ISI boosted their price objective on Pacific Gas & Electric from $15.00 to $17.00 and gave the stock an "in-line" rating in a research report on Monday, April 28th. Finally, Zacks Research raised Pacific Gas & Electric from a "strong sell" rating to a "hold" rating in a report on Monday, August 18th. Seven investment analysts have rated the stock with a Buy rating, five have assigned a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, the company currently has a consensus 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.

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