Pacific Gas & Electric Co. $PCG Shares Sold by Sumitomo Mitsui Trust Group Inc.

Sumitomo Mitsui Trust Group Inc. lessened its position in shares of Pacific Gas & Electric Co. (NYSE:PCG) by 7.3% during the 1st quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 5,205,227 shares of the utilities provider’s stock after selling 410,013 shares during the quarter. Sumitomo Mitsui Trust Group Inc.’s holdings in Pacific Gas & Electric were worth $91,456,000 at the end of the most recent reporting period.

A number of other hedge funds have also modified their holdings of the company. Fifth Third Wealth Advisors LLC lifted its holdings in shares of Pacific Gas & Electric by 5.7% during the first quarter. Fifth Third Wealth Advisors LLC now owns 16,368 shares of the utilities provider’s stock worth $288,000 after purchasing an additional 885 shares during the period. FreeGulliver LLC boosted its position in Pacific Gas & Electric by 7.9% in the third quarter. FreeGulliver LLC now owns 13,482 shares of the utilities provider’s stock valued at $203,000 after buying an additional 987 shares during the last quarter. Commerzbank Aktiengesellschaft FI increased its holdings in Pacific Gas & Electric by 2.7% in the 4th quarter. Commerzbank Aktiengesellschaft FI now owns 42,734 shares of the utilities provider’s stock worth $687,000 after buying an additional 1,142 shares during the period. GAMMA Investing LLC increased its holdings in Pacific Gas & Electric by 11.0% in the 4th quarter. GAMMA Investing LLC now owns 16,409 shares of the utilities provider’s stock worth $264,000 after buying an additional 1,625 shares during the period. Finally, Tobam purchased a new position in Pacific Gas & Electric during the 4th quarter worth approximately $30,000. 78.56% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several brokerages have commented on PCG. Morgan Stanley set a $22.00 price objective on shares of Pacific Gas & Electric in a research note on Thursday, May 21st. Jefferies Financial Group reiterated a “hold” rating and issued a $19.00 price objective (down from $20.00) on shares of Pacific Gas & Electric in a research note on Monday, March 23rd. Weiss Ratings cut shares of Pacific Gas & Electric from a “hold (c+)” rating to a “hold (c)” rating in a report on Thursday, June 4th. JPMorgan Chase & Co. decreased their target price on shares of Pacific Gas & Electric from $24.00 to $23.00 and set an “overweight” rating for the company in a research report on Friday, May 15th. Finally, Wells Fargo & Company reaffirmed an “overweight” rating and issued a $25.00 price target on shares of Pacific Gas & Electric in a report on Tuesday, April 21st. Seven investment analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $22.10.

Insider Activity

In related news, EVP Jason M. Glickman sold 47,264 shares of the stock in a transaction on Tuesday, April 28th. The shares were sold at an average price of $16.35, for a total transaction of $772,766.40. Following the sale, the executive vice president directly owned 136,433 shares of the company’s stock, valued at approximately $2,230,679.55. This represents a 25.73% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. 0.22% of the stock is currently owned by corporate insiders.

Pacific Gas & Electric Stock Performance

Pacific Gas & Electric stock traded down $0.04 during midday trading on Friday, hitting $17.14. 9,754,966 shares of the company were exchanged, compared to its average volume of 16,733,947. The business has a fifty day simple moving average of $16.65 and a two-hundred day simple moving average of $16.87. The company has a debt-to-equity ratio of 1.88, a quick ratio of 1.13 and a current ratio of 1.20. The firm has a market capitalization of $45.95 billion, a PE ratio of 13.29, a price-to-earnings-growth ratio of 0.66 and a beta of 0.27. Pacific Gas & Electric Co. has a fifty-two week low of $12.97 and a fifty-two week high of $19.16.

Pacific Gas & Electric (NYSE:PCG) last announced its quarterly earnings results on Thursday, April 23rd. The utilities provider reported $0.43 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.39 by $0.04. Pacific Gas & Electric had a return on equity of 11.95% and a net margin of 11.44%.The company had revenue of $6.88 billion during the quarter, compared to the consensus estimate of $6.20 billion. During the same period in the previous year, the company posted $0.33 earnings per share. Pacific Gas & Electric’s revenue for the quarter was up 15.0% on a year-over-year basis. Pacific Gas & Electric has set its FY 2026 guidance at 1.640-1.660 EPS. On average, sell-side analysts forecast that Pacific Gas & Electric Co. will post 1.65 earnings per share for the current year.

Pacific Gas & Electric Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, July 15th. Investors of record on Tuesday, June 30th will be paid a $0.05 dividend. This represents a $0.20 annualized dividend and a dividend yield of 1.2%. The ex-dividend date is Tuesday, June 30th. Pacific Gas & Electric’s payout ratio is currently 15.50%.

Pacific Gas & Electric Company Profile

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.