Resolution Capital Ltd Has $1.16 Million Stake in Pacific Gas & Electric Co. $PCG

Key Points

• Resolution Capital Ltd has reduced its stake in Pacific Gas & Electric Co. by 39.9%, bringing its holdings to 67,468 shares valued at approximately $1.16 million.
• Several institutional investors, including Vanguard Group Inc. and Canada Pension Plan Investment Board, increased their positions in Pacific Gas & Electric, signifying a trend of growing institutional interest.
• As of now, Pacific Gas & Electric has a consensus rating of "Hold" from analysts, with a target price estimate of $20.55.

Resolution Capital Ltd trimmed its position in Pacific Gas & Electric Co. (NYSE:PCG - Free Report) by 39.9% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 67,468 shares of the utilities provider's stock after selling 44,702 shares during the quarter. Resolution Capital Ltd's holdings in Pacific Gas & Electric were worth $1,159,000 at the end of the most recent reporting period.

A number of other large investors have also modified their holdings of PCG. Vanguard Group Inc. grew its position in Pacific Gas & Electric by 1.2% in the first quarter. Vanguard Group Inc. now owns 257,285,352 shares of the utilities provider's stock valued at $4,420,162,000 after acquiring an additional 2,926,384 shares during the period. Northern Trust Corp grew its holdings in shares of Pacific Gas & Electric by 4.3% during the first quarter. Northern Trust Corp now owns 19,944,322 shares of the utilities provider's stock worth $342,643,000 after purchasing an additional 818,377 shares during the last quarter. Canada Pension Plan Investment Board grew its holdings in shares of Pacific Gas & Electric by 352.3% during the first quarter. Canada Pension Plan Investment Board now owns 19,172,519 shares of the utilities provider's stock worth $329,384,000 after purchasing an additional 14,933,364 shares during the last quarter. AQR Capital Management LLC grew its holdings in shares of Pacific Gas & Electric by 317.2% during the first quarter. AQR Capital Management LLC now owns 16,464,333 shares of the utilities provider's stock worth $280,305,000 after purchasing an additional 12,518,011 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. grew its holdings in shares of Pacific Gas & Electric by 5.9% during the first quarter. Charles Schwab Investment Management Inc. now owns 12,882,526 shares of the utilities provider's stock worth $221,322,000 after purchasing an additional 720,500 shares during the last quarter. 78.56% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

PCG has been the topic of several recent research reports. Argus upgraded Pacific Gas & Electric to a "hold" rating in a report 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 cut their target price on Pacific Gas & Electric from $22.00 to $20.00 and set an "overweight" rating on the stock in a research note on Tuesday, July 22nd. UBS Group set a $19.00 target price on Pacific Gas & Electric in a research note on Friday, August 29th. Finally, Mizuho increased 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. Seven investment analysts have rated the stock with a Buy rating, five have given a Hold rating and one has given a Sell rating to the company's stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Hold" and a consensus price target of $20.55.

Pacific Gas & Electric Trading Down 1.0%

NYSE PCG opened at $15.08 on Friday. The firm has a market cap of $40.33 billion, a P/E ratio of 13.83, a P/E/G ratio of 1.13 and a beta of 0.57. 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's 50-day moving average is $14.44 and its 200-day moving average is $15.70. Pacific Gas & Electric Co. has a one year low of $12.97 and a one year high of $21.72.

Pacific Gas & Electric (NYSE:PCG - Get Free Report) last released its quarterly earnings results on Thursday, July 31st. The utilities provider reported $0.31 EPS for the quarter, missing analysts' consensus estimates 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 business had revenue of $5.90 billion for the quarter, compared to analyst estimates of $6.37 billion. During the same period in the prior year, the business earned $0.31 EPS. The company's revenue for the quarter was down 1.5% compared to the same quarter last year. 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 earnings per share 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.

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