Commerce Bank Purchases New Position in Pacific Gas & Electric Co. $PCG

Commerce Bank purchased a new stake in Pacific Gas & Electric Co. (NYSE:PCG) during the second quarter, HoldingsChannel.com reports. The firm purchased 53,145 shares of the utilities provider’s stock, valued at approximately $894,000.

Other large investors have also recently added to or reduced their stakes in the company. Keating Financial Advisory Services Inc. acquired a new position in shares of Pacific Gas & Electric in the 2nd quarter worth approximately $28,000. Tobam bought a new stake in Pacific Gas & Electric during the 4th quarter worth approximately $30,000. Torren Management LLC acquired a new stake in Pacific Gas & Electric during the 4th quarter valued at $33,000. Modus Advisors LLC acquired a new stake in Pacific Gas & Electric during the 4th quarter valued at $36,000. Finally, CoreCap Advisors LLC raised its position in Pacific Gas & Electric by 13.1% in the 2nd quarter. CoreCap Advisors LLC now owns 5,843 shares of the utilities provider’s stock valued at $98,000 after purchasing an additional 677 shares during the last quarter. 78.56% of the stock is owned by institutional investors.

Analysts Set New Price Targets

PCG has been the topic of a number of recent analyst reports. JPMorgan Chase & Co. reduced their price objective on Pacific Gas & Electric from $24.00 to $23.00 and set an “overweight” rating on the stock in a research note on Friday, May 15th. Wall Street Zen lowered Pacific Gas & Electric from a “buy” rating to a “hold” rating in a research note on Saturday, July 25th. Morgan Stanley lowered their target price on 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. BMO Capital Markets cut their price target on Pacific Gas & Electric from $28.00 to $27.00 and set an “outperform” rating for the company in a report on Friday, July 24th. Finally, Weiss Ratings downgraded shares of Pacific Gas & Electric from a “hold (c+)” rating to a “hold (c)” rating in a research report on Thursday, June 4th. Seven equities research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $22.20.

Pacific Gas & Electric Stock Down 0.6%

Shares of NYSE PCG opened at $18.25 on Thursday. Pacific Gas & Electric Co. has a 1 year low of $14.34 and a 1 year high of $19.16. The firm’s 50-day moving average is $17.37 and its 200-day moving average is $17.33. 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 firm has a market capitalization of $48.91 billion, a PE ratio of 13.22, a price-to-earnings-growth ratio of 1.19 and a beta of 0.28.

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

Insider Activity at Pacific Gas & Electric

In other news, EVP Marlene Santos sold 158,250 shares of the stock in a transaction on Wednesday, July 22nd. The stock was sold at an average price of $18.00, for a total value of $2,848,500.00. Following the transaction, the executive vice president owned 230,885 shares of the company’s stock, valued at $4,155,930. This represents a 40.67% decrease in their position. The transaction 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.

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.