Cibc World Market Inc. Buys Shares of 237,996 Pacific Gas & Electric Co. $PCG

Cibc World Market Inc. purchased a new position in shares of Pacific Gas & Electric Co. (NYSE:PCG) in the second quarter, according to the company in its most recent disclosure with the SEC. The institutional investor purchased 237,996 shares of the utilities provider’s stock, valued at approximately $4,003,000.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. Focus Partners Advisor Solutions LLC acquired a new position in Pacific Gas & Electric during the second quarter valued at approximately $4,044,000. PFA Pension Forsikringsaktieselskab bought a new stake in Pacific Gas & Electric during the fourth quarter worth $1,898,000. Harrison Street Private Wealth LLC bought a new stake in Pacific Gas & Electric during the first quarter worth $3,643,000. Geode Capital Management LLC lifted its stake in Pacific Gas & Electric by 1.9% in the fourth quarter. Geode Capital Management LLC now owns 62,134,132 shares of the utilities provider’s stock valued at $1,019,297,000 after acquiring an additional 1,132,249 shares during the last quarter. Finally, Horizon Investments LLC lifted its stake in Pacific Gas & Electric by 69.7% in the fourth quarter. Horizon Investments LLC now owns 164,784 shares of the utilities provider’s stock valued at $2,648,000 after acquiring an additional 67,677 shares during the last quarter. 78.56% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several research firms have recently weighed in on PCG. BMO Capital Markets lowered their price objective on shares of Pacific Gas & Electric from $28.00 to $27.00 and set an “outperform” rating on the stock in a research note on Friday, July 24th. Morgan Stanley cut their target price on shares of Pacific Gas & Electric from $23.00 to $22.00 and set an “equal weight” rating for the company in a research note on Friday, August 21st. JPMorgan Chase & Co. decreased their target price on Pacific Gas & Electric from $24.00 to $23.00 and set an “overweight” rating on the stock in a report on Friday, May 15th. UBS Group reiterated a “buy” rating on shares of Pacific Gas & Electric in a research note on Tuesday, August 18th. Finally, Truist Financial dropped 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. Seven equities research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $22.20.

Insider Buying and Selling at Pacific Gas & Electric

In related news, EVP Marlene Santos sold 158,250 shares of Pacific Gas & Electric stock in a transaction that occurred on Wednesday, July 22nd. The shares were sold at an average price of $18.00, for a total transaction of $2,848,500.00. Following the sale, the executive vice president directly owned 230,885 shares of the company’s stock, valued at approximately $4,155,930. The trade was a 40.67% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders own 0.22% of the company’s stock.

Pacific Gas & Electric Price Performance

Pacific Gas & Electric stock opened at $18.25 on Thursday. The company has a debt-to-equity ratio of 1.90, a quick ratio of 1.15 and a current ratio of 1.22. Pacific Gas & Electric Co. has a 52 week low of $14.34 and a 52 week high of $19.16. The stock has a market capitalization of $48.91 billion, a P/E ratio of 13.22, a price-to-earnings-growth ratio of 1.19 and a beta of 0.28. The stock has a fifty day moving average of $17.37 and a 200-day moving average of $17.33.

Pacific Gas & Electric (NYSE:PCG) last released its quarterly earnings data on Thursday, July 23rd. The utilities provider reported $0.40 earnings per share for the quarter, beating the consensus estimate of $0.36 by $0.04. The business had revenue of $5.90 billion for 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 revenue was up .1% compared to the same quarter last year. During the same period last year, the firm posted $0.31 earnings per share. Pacific Gas & Electric has set its FY 2026 guidance at 1.640-1.660 EPS. On average, sell-side analysts expect that Pacific Gas & Electric Co. will post 1.65 earnings per share for the current fiscal year.

Pacific Gas & Electric 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.