Energy Income Partners LLC Purchases New Shares in Pacific Gas & Electric Co. $PCG

Energy Income Partners LLC 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 filing with the Securities and Exchange Commission. The institutional investor purchased 1,658,844 shares of the utilities provider’s stock, valued at approximately $27,902,000.

Several other hedge funds and other institutional investors also recently bought and sold shares of PCG. Citizens Financial Group Inc. RI purchased a new stake in shares of Pacific Gas & Electric in the second quarter valued at about $1,338,000. Pallas Capital Advisors LLC purchased a new position in shares of Pacific Gas & Electric during the second quarter worth about $3,674,000. Perigon Wealth Management LLC purchased a new position in shares of Pacific Gas & Electric during the second quarter worth about $393,000. Mitsubishi UFJ Asset Management Co. Ltd. acquired a new position in Pacific Gas & Electric in the 2nd quarter valued at about $90,898,000. Finally, Plato Investment Management Ltd acquired a new position in Pacific Gas & Electric in the 2nd quarter valued at about $1,561,000. 78.56% of the stock is owned by hedge funds and other institutional investors.

Pacific Gas & Electric Stock Performance

NYSE PCG opened at $17.84 on Wednesday. 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 business’s 50 day moving average is $17.22 and its two-hundred day moving average is $17.23. 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 capitalization of $47.80 billion, a price-to-earnings ratio of 12.92, a PEG ratio of 1.16 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 (EPS) for the quarter, beating analysts’ consensus estimates of $0.36 by $0.04. The company had revenue of $5.90 billion during the quarter, compared to the consensus estimate of $6.20 billion. Pacific Gas & Electric had a net margin of 12.25% and a return on equity of 12.48%. The company’s revenue for the quarter was up .1% on a year-over-year basis. During the same period last year, the firm earned $0.31 EPS. Pacific Gas & Electric has set its FY 2026 guidance at 1.640-1.660 EPS. Research analysts expect that Pacific Gas & Electric Co. will post 1.65 EPS for the current year.

Pacific Gas & Electric Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, July 15th. Investors of record on Tuesday, June 30th were paid a dividend of $0.05 per share. The ex-dividend date of this dividend was Tuesday, June 30th. This represents a $0.20 dividend on an annualized basis and a dividend yield of 1.1%. Pacific Gas & Electric’s dividend payout ratio (DPR) is presently 14.49%.

Insider Activity at Pacific Gas & Electric

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

Analysts Set New Price Targets

PCG has been the topic of a number of recent research reports. Truist Financial dropped their target price on Pacific Gas & Electric from $23.00 to $21.00 and set a “buy” rating on the stock in a report on Tuesday, August 4th. JPMorgan Chase & Co. lowered their price objective on shares of Pacific Gas & Electric from $24.00 to $23.00 and set an “overweight” rating on the stock in a research report on Friday, May 15th. BMO Capital Markets dropped 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 set a $22.00 price objective on shares of Pacific Gas & Electric in a research report on Thursday, May 21st. Finally, UBS Group restated a “buy” rating on shares of Pacific Gas & Electric in a research note on Tuesday. Seven investment analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, Pacific Gas & Electric 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.