Sumitomo Mitsui Trust Group Inc. Trims Stake in Pacific Gas & Electric Co. $PCG

Key Points

• Sumitomo Mitsui Trust Group cut its Pacific Gas & Electric stake by 7.3% in the first quarter, selling 410,013 shares and leaving it with 5.2 million shares valued at about $91.5 million.
• PG&E recently beat expectations on its latest quarterly results, reporting $0.43 EPS versus the $0.39 estimate and revenue of $6.88 billion, up 15% year over year. The company also guided FY2026 EPS to $1.64-$1.66.
• Analyst sentiment remains constructive overall, with seven Buy ratings and a consensus Moderate Buy rating, though some firms trimmed their price targets. The stock last traded at $17.14, below the average analyst target of $22.10.

Sumitomo Mitsui Trust Group Inc. trimmed its position in Pacific Gas & Electric Co. (NYSE:PCG - Free Report) by 7.3% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 5,205,227 shares of the utilities provider's stock after selling 410,013 shares during the quarter. Sumitomo Mitsui Trust Group Inc. owned 0.24% of Pacific Gas & Electric worth $91,456,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also made changes to their positions in the company. Geode Capital Management LLC grew its holdings in Pacific Gas & Electric by 1.9% during the 4th quarter. Geode Capital Management LLC now owns 62,134,132 shares of the utilities provider's stock worth $1,019,297,000 after acquiring an additional 1,132,249 shares in the last quarter. SG Americas Securities LLC raised its holdings in shares of Pacific Gas & Electric by 366.6% in the 1st quarter. SG Americas Securities LLC now owns 2,984,809 shares of the utilities provider's stock valued at $52,443,000 after purchasing an additional 2,345,120 shares in the last quarter. Pinebridge Investments LLC purchased a new stake in shares of Pacific Gas & Electric in the 4th quarter worth approximately $28,967,000. Public Employees Retirement System of Ohio lifted its position in shares of Pacific Gas & Electric by 0.6% in the 3rd quarter. Public Employees Retirement System of Ohio now owns 684,942 shares of the utilities provider's stock worth $10,329,000 after purchasing an additional 4,248 shares during the period. Finally, Captrust Financial Advisors boosted its stake in shares of Pacific Gas & Electric by 59.5% during the fourth quarter. Captrust Financial Advisors now owns 468,091 shares of the utilities provider's stock valued at $7,522,000 after purchasing an additional 174,564 shares in the last quarter. Institutional investors own 78.56% of the company's stock.

Analyst Ratings Changes

A number of brokerages recently commented on PCG. JPMorgan Chase & Co. reduced their price objective on shares of Pacific Gas & Electric from $24.00 to $23.00 and set an "overweight" rating for the company in a research note on Friday, May 15th. Weiss Ratings cut Pacific Gas & Electric from a "hold (c+)" rating to a "hold (c)" rating in a research report on Thursday, June 4th. Wall Street Zen upgraded Pacific Gas & Electric from a "hold" rating to a "buy" rating in a report on Saturday, June 13th. Jefferies Financial Group reissued a "hold" rating and issued a $19.00 price target (down from $20.00) on shares of Pacific Gas & Electric in a research report on Monday, March 23rd. Finally, Morgan Stanley set a $22.00 price objective on Pacific Gas & Electric in a research report on Thursday, May 21st. Seven analysts have rated the stock with a Buy rating, three have given a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus target price of $22.10.

Pacific Gas & Electric Stock Down 0.2%

PCG stock traded down $0.04 on Friday, hitting $17.14. 9,754,966 shares of the company's stock were exchanged, compared to its average volume of 16,733,947. The firm has a 50 day moving average price of $16.65 and a two-hundred day moving average price of $16.87. Pacific Gas & Electric Co. has a 12-month low of $12.97 and a 12-month high of $19.16. The stock has a market cap of $45.95 billion, a P/E ratio of 13.29, a price-to-earnings-growth ratio of 0.66 and a beta of 0.27. The company has a debt-to-equity ratio of 1.88, a quick ratio of 1.13 and a current ratio of 1.20.

Pacific Gas & Electric (NYSE:PCG - Get Free Report) last released its quarterly earnings results on Thursday, April 23rd. The utilities provider reported $0.43 EPS for the quarter, beating analysts' consensus estimates of $0.39 by $0.04. The company had revenue of $6.88 billion during the quarter, compared to analysts' expectations of $6.20 billion. Pacific Gas & Electric had a return on equity of 11.95% and a net margin of 11.44%.The firm's revenue was up 15.0% compared to the same quarter last year. During the same period last year, the business posted $0.33 earnings per share. Pacific Gas & Electric has set its FY 2026 guidance at 1.640-1.660 EPS. As a group, equities research analysts expect that Pacific Gas & Electric Co. will post 1.65 EPS for the current fiscal year.

Pacific Gas & Electric Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 15th. Investors of record on Tuesday, June 30th will be given a $0.05 dividend. This represents a $0.20 annualized dividend and a dividend yield of 1.2%. The ex-dividend date of this dividend is Tuesday, June 30th. Pacific Gas & Electric's dividend payout ratio (DPR) is presently 15.50%.

Insider Buying and Selling

In related news, EVP Jason M. Glickman sold 47,264 shares of Pacific Gas & Electric stock in a transaction that occurred on Tuesday, April 28th. The shares were sold at an average price of $16.35, for a total value of $772,766.40. Following the completion of the sale, the executive vice president directly owned 136,433 shares in the company, valued at $2,230,679.55. This trade represents a 25.73% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 0.22% of the stock is owned by company insiders.

About Pacific Gas & Electric

Pacific Gas & Electric NYSE: PCG is an investor-owned utility holding company whose principal operating subsidiary, Pacific Gas and Electric Company, provides electricity and natural gas service in northern and central California. The company's core activities include the generation, procurement, transmission and distribution of electric power, as well as the transmission and distribution of natural gas. PG&E serves a broad mix of residential, commercial, and industrial customers across urban and rural communities within its California service territory.

PG&E's operations encompass utility infrastructure planning and construction, grid operations, customer service and energy procurement.

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