Harrison Street Private Wealth LLC Invests $3.64 Million in Pacific Gas & Electric Co. $PCG

Harrison Street Private Wealth LLC acquired a new position in Pacific Gas & Electric Co. (NYSE:PCG) during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm acquired 207,369 shares of the utilities provider’s stock, valued at approximately $3,643,000. Pacific Gas & Electric makes up 4.8% of Harrison Street Private Wealth LLC’s holdings, making the stock its 10th largest holding.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Geode Capital Management LLC increased its stake in Pacific Gas & Electric by 1.9% in 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 during the last quarter. SG Americas Securities LLC boosted its position in shares of Pacific Gas & Electric by 366.6% during 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 acquiring an additional 2,345,120 shares during the last quarter. Pinebridge Investments LLC purchased a new position in shares of Pacific Gas & Electric during the fourth quarter worth about $28,967,000. Public Employees Retirement System of Ohio grew its holdings in shares of Pacific Gas & Electric by 0.6% during the third 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 in the last quarter. Finally, Captrust Financial Advisors increased its position in shares of Pacific Gas & Electric by 59.5% in the fourth quarter. Captrust Financial Advisors now owns 468,091 shares of the utilities provider’s stock worth $7,522,000 after purchasing an additional 174,564 shares during the last quarter. 78.56% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at Pacific Gas & Electric

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

Wall Street Analysts Forecast Growth

A number of brokerages recently weighed in on PCG. Wall Street Zen raised shares of Pacific Gas & Electric from a “hold” rating to a “buy” rating in a research note on Saturday, June 13th. Morgan Stanley set a $22.00 price target on shares of Pacific Gas & Electric in a report on Thursday, May 21st. UBS Group upgraded shares of Pacific Gas & Electric from a “neutral” rating to a “buy” rating in a research report on Monday, March 9th. JPMorgan Chase & Co. dropped 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 report on Friday, May 15th. Finally, Truist Financial cut their target price on shares of Pacific Gas & Electric from $23.00 to $22.00 and set a “buy” rating for the company in a research report on Monday, May 18th. Seven investment analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $22.10.

Pacific Gas & Electric Trading Up 2.9%

Shares of PCG stock opened at $17.05 on Friday. The company has a debt-to-equity ratio of 1.88, a current ratio of 1.20 and a quick ratio of 1.13. Pacific Gas & Electric Co. has a 1-year low of $12.97 and a 1-year high of $19.16. The stock has a market capitalization of $45.71 billion, a PE ratio of 13.22, a P/E/G ratio of 0.63 and a beta of 0.27. The business has a 50-day moving average of $16.59 and a 200 day moving average of $16.82.

Pacific Gas & Electric (NYSE:PCG) last posted 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. Pacific Gas & Electric had a net margin of 11.44% and a return on equity of 11.95%. The company had revenue of $6.88 billion during the quarter, compared to analyst estimates of $6.20 billion. During the same period in the prior year, the business posted $0.33 EPS. The firm’s revenue was up 15.0% compared to the same quarter last year. 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 year.

Pacific Gas & Electric Dividend Announcement

The company also recently declared 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 yield of 1.2%. The ex-dividend date of this dividend is Tuesday, June 30th. Pacific Gas & Electric’s dividend payout ratio is presently 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.