Sessa Capital IM L.P. Acquires New Shares in Pacific Gas & Electric Co. $PCG

Key Points

• Sessa Capital IM L.P. acquired a new position in Pacific Gas & Electric worth approximately $320.98 million, making it the largest holding in their portfolio at around 12.5%.
• Pacific Gas & Electric reported disappointing earnings for the most recent quarter, missing analysts' expectations with a revenue of $5.90 billion compared to a consensus estimate of $6.37 billion.
• Analysts have varied opinions on the stock, with ratings ranging from "Buy" to "Sell," and a consensus rating of "Hold" alongside an average target price of $20.55.

Sessa Capital IM L.P. acquired a new position in shares of Pacific Gas & Electric Co. (NYSE:PCG - Free Report) during the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm acquired 18,683,566 shares of the utilities provider's stock, valued at approximately $320,984,000. Pacific Gas & Electric accounts for 12.5% of Sessa Capital IM L.P.'s portfolio, making the stock its largest position. Sessa Capital IM L.P. owned about 0.70% of Pacific Gas & Electric as of its most recent SEC filing.

A number of other institutional investors have also made changes to their positions in the business. Costello Asset Management INC acquired a new position in Pacific Gas & Electric during the first quarter worth $31,000. Colonial Trust Co SC boosted its position in shares of Pacific Gas & Electric by 563.0% in the fourth quarter. Colonial Trust Co SC now owns 1,916 shares of the utilities provider's stock valued at $39,000 after acquiring an additional 1,627 shares during the period. Deseret Mutual Benefit Administrators boosted its position in shares of Pacific Gas & Electric by 45.0% in the first quarter. Deseret Mutual Benefit Administrators now owns 2,173 shares of the utilities provider's stock valued at $37,000 after acquiring an additional 674 shares during the period. Safe Harbor Fiduciary LLC bought a new stake in shares of Pacific Gas & Electric in the first quarter valued at about $39,000. Finally, Larson Financial Group LLC lifted its position in Pacific Gas & Electric by 198.1% during the first quarter. Larson Financial Group LLC now owns 3,050 shares of the utilities provider's stock worth $52,000 after purchasing an additional 2,027 shares during the period. Institutional investors own 78.56% of the company's stock.

Pacific Gas & Electric Price Performance

NYSE:PCG traded down $0.30 during mid-day trading on Friday, reaching $15.43. The stock had a trading volume of 14,085,982 shares, compared to its average volume of 23,860,268. The firm has a 50 day moving average price of $14.53 and a two-hundred day moving average price of $15.68. The stock has a market capitalization of $41.27 billion, a P/E ratio of 14.16, a P/E/G ratio of 1.14 and a beta of 0.57. Pacific Gas & Electric Co. has a one year low of $12.97 and a one year high of $21.72. The company has a debt-to-equity ratio of 1.81, a quick ratio of 0.89 and a current ratio of 0.94.

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 analysts' consensus estimates of $0.33 by ($0.02). The firm had revenue of $5.90 billion during the quarter, compared to the consensus estimate 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 in the previous year, the firm earned $0.31 EPS. Pacific Gas & Electric has set its FY 2025 guidance at 1.480-1.520 EPS. As a group, analysts expect that Pacific Gas & Electric Co. will post 1.49 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of research analysts have recently commented on the stock. Morgan Stanley reissued an "underweight" rating on shares of Pacific Gas & Electric in a report on Thursday, August 21st. Barclays reduced their price objective on shares of 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. Zacks Research upgraded Pacific Gas & Electric from a "strong sell" rating to a "hold" rating in a report on Monday, August 18th. Argus upgraded Pacific Gas & Electric to a "hold" rating in a report on Monday, June 16th. Finally, UBS Group set a $19.00 price objective on Pacific Gas & Electric in a research note on Friday, August 29th. Six equities research analysts have rated the stock with a Buy rating, five have assigned a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, Pacific Gas & Electric presently has an average rating of "Hold" and an average target price of $20.20.

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.