2,450,000 Shares in Pacific Gas & Electric Co. $PCG Purchased by Silver Point Capital L.P.

Key Points

• Silver Point Capital L.P. acquired 2,450,000 shares of Pacific Gas & Electric Co., valued at approximately $42.1 million, making it the 6th largest position in their portfolio.
• Pacific Gas & Electric recently reported earnings of $0.31 per share, missing estimates, with revenue down 1.5% year-over-year, highlighting ongoing financial challenges.
• Analysts have set various price targets for Pacific Gas & Electric, with an average target of $20.55, reflecting mixed sentiment about the company's growth prospects.

Silver Point Capital L.P. acquired a new position in shares of Pacific Gas & Electric Co. (NYSE:PCG - Free Report) during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm acquired 2,450,000 shares of the utilities provider's stock, valued at approximately $42,091,000. Pacific Gas & Electric makes up about 3.3% of Silver Point Capital L.P.'s investment portfolio, making the stock its 6th biggest holding. Silver Point Capital L.P. owned approximately 0.09% of Pacific Gas & Electric as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors also recently modified their holdings of the company. Cambridge Investment Research Advisors Inc. grew its holdings in shares of Pacific Gas & Electric by 55.6% during the 1st quarter. Cambridge Investment Research Advisors Inc. now owns 77,846 shares of the utilities provider's stock worth $1,337,000 after purchasing an additional 27,832 shares in the last quarter. Golden State Wealth Management LLC grew its holdings in shares of Pacific Gas & Electric by 431.2% during the 1st quarter. Golden State Wealth Management LLC now owns 3,469 shares of the utilities provider's stock worth $60,000 after purchasing an additional 2,816 shares in the last quarter. GAMMA Investing LLC lifted its position in shares of Pacific Gas & Electric by 738.7% during the 1st quarter. GAMMA Investing LLC now owns 176,043 shares of the utilities provider's stock worth $3,024,000 after buying an additional 155,052 shares during the period. Blue Trust Inc. lifted its position in shares of Pacific Gas & Electric by 38.1% during the 1st quarter. Blue Trust Inc. now owns 5,316 shares of the utilities provider's stock worth $91,000 after buying an additional 1,468 shares during the period. Finally, Wealth Enhancement Advisory Services LLC lifted its position in shares of Pacific Gas & Electric by 138.8% during the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 254,549 shares of the utilities provider's stock worth $4,373,000 after buying an additional 147,964 shares during the period. Institutional investors and hedge funds own 78.56% of the company's stock.

Wall Street Analyst Weigh In

Several research firms have recently commented on PCG. Argus raised Pacific Gas & Electric to a "hold" rating in a research note on Monday, June 16th. Zacks Research raised Pacific Gas & Electric from a "strong sell" rating to a "hold" rating in a research note on Monday, August 18th. UBS Group set a $19.00 target price on Pacific Gas & Electric in a research note on Friday, August 29th. Barclays decreased their target price on Pacific Gas & Electric from $22.00 to $20.00 and set an "overweight" rating for the company in a research note on Tuesday, July 22nd. Finally, Mizuho boosted 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 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. According to MarketBeat.com, the stock currently has a consensus rating of "Hold" and an average price target of $20.55.

Pacific Gas & Electric Stock Up 3.2%

Shares of Pacific Gas & Electric stock traded up $0.48 during trading on Thursday, reaching $15.74. The stock had a trading volume of 34,261,926 shares, compared to its average volume of 23,808,355. The company has a market capitalization of $42.12 billion, a price-to-earnings ratio of 14.44, a P/E/G ratio of 1.11 and a beta of 0.57. The stock has a fifty day moving average price of $14.49 and a two-hundred day moving average price of $15.68. Pacific Gas & Electric Co. has a 52 week low of $12.97 and a 52 week 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.

Pacific Gas & Electric (NYSE:PCG - Get Free Report) last issued 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). 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 net margin of 9.95% and a return on equity of 10.13%. The business's revenue for the quarter was down 1.5% on a year-over-year basis. During the same quarter last year, the firm earned $0.31 earnings per share. Pacific Gas & Electric has set its FY 2025 guidance at 1.480-1.520 EPS. Sell-side analysts predict that Pacific Gas & Electric Co. will post 1.49 EPS 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.