Strs Ohio Makes New Investment in Pacific Gas & Electric Co. $PCG

Key Points

• Strs Ohio has acquired a new position in Pacific Gas & Electric Co. valued at approximately $16.33 million, purchasing 950,500 shares in the first quarter.
• Pacific Gas & Electric recently experienced mixed analyst opinions, with Zacks upgrading its rating to hold while Morgan Stanley maintained an underweight rating.
• Despite reporting earnings per share of $0.31 for the last quarter, Pacific Gas & Electric missed the consensus estimate of $0.33 and noted a revenue decline compared to the same quarter last year.

Strs Ohio bought a new stake in Pacific Gas & Electric Co. (NYSE:PCG - Free Report) in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor bought 950,500 shares of the utilities provider's stock, valued at approximately $16,330,000.

Several other large investors have also recently bought and sold shares of PCG. Costello Asset Management INC bought a new stake in Pacific Gas & Electric in the first quarter valued at approximately $31,000. Deseret Mutual Benefit Administrators increased its position in shares of Pacific Gas & Electric by 45.0% during the first quarter. Deseret Mutual Benefit Administrators now owns 2,173 shares of the utilities provider's stock worth $37,000 after acquiring an additional 674 shares in the last quarter. Safe Harbor Fiduciary LLC bought a new stake in shares of Pacific Gas & Electric during the first quarter worth $39,000. Larson Financial Group LLC increased its position in shares of 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 acquiring an additional 2,027 shares in the last quarter. Finally, Financial Network Wealth Advisors LLC increased its position in shares of Pacific Gas & Electric by 57.7% during the first quarter. Financial Network Wealth Advisors LLC now owns 3,445 shares of the utilities provider's stock worth $59,000 after acquiring an additional 1,260 shares in the last quarter. Institutional investors own 78.56% of the company's stock.

Pacific Gas & Electric Stock Performance

PCG stock traded down $0.07 during trading hours on Monday, reaching $15.38. The stock had a trading volume of 27,980,672 shares, compared to its average volume of 25,446,874. The stock has a market capitalization of $41.15 billion, a PE ratio of 14.11, a price-to-earnings-growth ratio of 1.15 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 has a 50-day simple moving average of $14.60 and a 200 day simple moving average of $15.66. Pacific Gas & Electric Co. has a fifty-two week low of $12.97 and a fifty-two week high of $21.72.

Pacific Gas & Electric (NYSE:PCG - Get Free Report) last posted its earnings results on Thursday, July 31st. The utilities provider reported $0.31 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.33 by ($0.02). The company had revenue of $5.90 billion for the quarter, compared to analyst estimates 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 prior year, the business posted $0.31 EPS. Pacific Gas & Electric has set its FY 2025 guidance at 1.480-1.520 EPS. Analysts predict that Pacific Gas & Electric Co. will post 1.49 EPS for the current fiscal year.

Analysts Set New Price Targets

Several equities research analysts have recently issued reports on the stock. Argus raised shares of Pacific Gas & Electric to a "hold" rating in a research report on Monday, June 16th. UBS Group set a $19.00 target price on shares of Pacific Gas & Electric in a research report on Friday, August 29th. Morgan Stanley reaffirmed an "underweight" rating on shares of Pacific Gas & Electric in a research report on Thursday, August 21st. Mizuho raised their target price on shares of Pacific Gas & Electric from $20.00 to $21.00 and gave the company an "outperform" rating in a research report on Monday, May 19th. Finally, Barclays decreased their target price 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. Six analysts have rated the stock with a Buy rating, five have issued a Hold rating and one has assigned a Sell rating to the company's stock. Based on data from MarketBeat.com, the company currently has an average rating of "Hold" and a consensus target price of $20.20.

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.