Greenland Capital Management LP Makes New $994,000 Investment in Pacific Gas & Electric Co. $PCG

Greenland Capital Management LP bought a new stake in shares of Pacific Gas & Electric Co. (NYSE:PCG) during the 2nd quarter, HoldingsChannel.com reports. The firm bought 59,110 shares of the utilities provider’s stock, valued at approximately $994,000.

A number of other hedge funds also recently modified their holdings of the business. CoreCap Advisors LLC boosted its position in shares of Pacific Gas & Electric by 13.1% in the second quarter. CoreCap Advisors LLC now owns 5,843 shares of the utilities provider’s stock worth $98,000 after buying an additional 677 shares during the period. Fifth Third Wealth Advisors LLC grew 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 valued at $288,000 after buying an additional 885 shares in the last quarter. Versant Capital Management Inc grew its holdings in shares of Pacific Gas & Electric by 19.6% during the second quarter. Versant Capital Management Inc now owns 6,636 shares of the utilities provider’s stock valued at $112,000 after buying an additional 1,088 shares in the last quarter. Commerzbank Aktiengesellschaft FI raised its position in Pacific Gas & Electric by 2.7% during the fourth quarter. Commerzbank Aktiengesellschaft FI now owns 42,734 shares of the utilities provider’s stock valued at $687,000 after buying an additional 1,142 shares during the period. Finally, Keating Financial Advisory Services Inc. acquired a new position in Pacific Gas & Electric during the second quarter valued at $28,000. Hedge funds and other institutional investors own 78.56% of the company’s stock.

Analyst Ratings Changes

PCG has been the subject of several research analyst reports. JPMorgan Chase & Co. reduced their price objective on 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 note on Thursday, June 4th. UBS Group reiterated a “buy” rating on shares of Pacific Gas & Electric in a report on Tuesday. Truist Financial reduced their price target on shares of Pacific Gas & Electric from $23.00 to $21.00 and set a “buy” rating for the company in a research report on Tuesday, August 4th. Finally, Morgan Stanley decreased their price target on shares of Pacific Gas & Electric from $23.00 to $22.00 and set an “equal weight” rating for the company in a report on Friday. Seven analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $22.20.

Pacific Gas & Electric Trading Down 2.0%

NYSE PCG opened at $17.60 on Friday. Pacific Gas & Electric Co. has a 1-year low of $14.34 and a 1-year high of $19.16. The company has a current ratio of 1.22, a quick ratio of 1.15 and a debt-to-equity ratio of 1.90. The company has a market capitalization of $47.17 billion, a PE ratio of 12.75, a price-to-earnings-growth ratio of 1.14 and a beta of 0.28. The firm’s fifty day simple moving average is $17.28 and its 200-day simple moving average is $17.27.

Pacific Gas & Electric (NYSE:PCG) last announced its quarterly earnings data on Thursday, July 23rd. The utilities provider reported $0.40 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.36 by $0.04. The business had revenue of $5.90 billion during the quarter, compared to analyst estimates of $6.20 billion. Pacific Gas & Electric had a return on equity of 12.48% and a net margin of 12.25%.Pacific Gas & Electric’s quarterly revenue was up .1% compared to the same quarter last year. During the same period last year, the company earned $0.31 earnings per share. Pacific Gas & Electric has set its FY 2026 guidance at 1.640-1.660 EPS. As a group, sell-side analysts anticipate that Pacific Gas & Electric Co. will post 1.65 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, EVP Marlene Santos sold 158,250 shares of the firm’s stock in a transaction dated Wednesday, July 22nd. The stock was sold at an average price of $18.00, for a total transaction of $2,848,500.00. Following the completion of the sale, the executive vice president directly owned 230,885 shares of the company’s stock, valued at $4,155,930. This trade represents a 40.67% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 0.22% of the stock is currently owned by insiders.

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.