Danica Pension Livsforsikringsaktieselskab Makes New Investment in Pacific Gas & Electric Co. $PCG

Danica Pension Livsforsikringsaktieselskab acquired a new position in Pacific Gas & Electric Co. (NYSE:PCG) in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund acquired 4,561,272 shares of the utilities provider’s stock, valued at approximately $76,721,000. Pacific Gas & Electric comprises 1.2% of Danica Pension Livsforsikringsaktieselskab’s portfolio, making the stock its 17th biggest position. Danica Pension Livsforsikringsaktieselskab owned 0.17% of Pacific Gas & Electric at the end of the most recent quarter.

Other institutional investors also recently made changes to their positions in the company. Danske Bank A S bought a new stake in Pacific Gas & Electric in the second quarter valued at approximately $29,023,000. Diversify Advisory Services LLC bought a new position in shares of Pacific Gas & Electric in the second quarter worth approximately $1,002,000. Wealthfront Advisers LLC purchased a new position in shares of Pacific Gas & Electric in the second quarter worth $2,918,000. Energy Income Partners LLC purchased a new position in shares of Pacific Gas & Electric in the second quarter worth $27,902,000. Finally, Citizens Financial Group Inc. RI purchased a new position in shares of Pacific Gas & Electric in the second quarter worth $1,338,000. Hedge funds and other institutional investors own 78.56% of the company’s stock.

Insider Activity

In related news, EVP Marlene Santos sold 158,250 shares of the stock in a transaction dated 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. This represents a 40.67% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 0.22% of the stock is currently owned by corporate insiders.

Pacific Gas & Electric Stock Performance

Shares of PCG stock opened at $17.84 on Wednesday. Pacific Gas & Electric Co. has a 12 month low of $14.30 and a 12 month high of $19.16. The stock has a market cap of $47.80 billion, a PE ratio of 12.92, a price-to-earnings-growth ratio of 1.16 and a beta of 0.28. 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’s fifty day moving average price is $17.22 and its 200-day moving average price is $17.23.

Pacific Gas & Electric (NYSE:PCG) last issued its quarterly earnings results on Thursday, July 23rd. The utilities provider reported $0.40 EPS for the quarter, topping analysts’ consensus estimates of $0.36 by $0.04. Pacific Gas & Electric had a return on equity of 12.48% and a net margin of 12.25%.The firm had revenue of $5.90 billion for the quarter, compared to analysts’ expectations of $6.20 billion. During the same period in the previous year, the firm posted $0.31 EPS. The business’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. On average, equities analysts expect that Pacific Gas & Electric Co. will post 1.65 EPS for the current fiscal year.

Pacific Gas & Electric Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, July 15th. Stockholders of record on Tuesday, June 30th were given a $0.05 dividend. This represents a $0.20 annualized dividend and a dividend yield of 1.1%. The ex-dividend date of this dividend was Tuesday, June 30th. Pacific Gas & Electric’s payout ratio is currently 14.49%.

Analyst Ratings Changes

PCG has been the subject of a number of analyst reports. Truist Financial dropped their target price on shares of Pacific Gas & Electric from $23.00 to $21.00 and set a “buy” rating for the company in a report on Tuesday, August 4th. UBS Group restated a “buy” rating on shares of Pacific Gas & Electric in a report on Tuesday. JPMorgan Chase & Co. lowered their price target on 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. Wall Street Zen lowered Pacific Gas & Electric from a “buy” rating to a “hold” rating in a research report on Saturday, July 25th. Finally, Wells Fargo & Company reiterated an “overweight” rating and issued a $25.00 price objective on shares of Pacific Gas & Electric in a report on Tuesday, April 21st. Seven research analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $22.20.

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.