Citizens Financial Group Inc. RI Purchases Shares of 79,575 Pacific Gas & Electric Co. $PCG

Citizens Financial Group Inc. RI purchased a new position in Pacific Gas & Electric Co. (NYSE:PCG) during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm purchased 79,575 shares of the utilities provider’s stock, valued at approximately $1,338,000.

Other institutional investors and hedge funds also recently modified their holdings of the company. PFA Pension Forsikringsaktieselskab purchased a new stake in shares of Pacific Gas & Electric during the 4th quarter valued at $1,898,000. Focus Partners Advisor Solutions LLC acquired a new stake in Pacific Gas & Electric in the second quarter valued at approximately $4,044,000. Harrison Street Private Wealth LLC acquired a new stake in Pacific Gas & Electric during the 1st quarter valued at $3,643,000. Horizon Investments LLC boosted its holdings 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 purchasing an additional 67,677 shares during the last quarter. Finally, Geode Capital Management LLC boosted its stake in shares of Pacific Gas & Electric by 1.9% during the 4th quarter. Geode Capital Management LLC now owns 62,134,132 shares of the utilities provider’s stock valued at $1,019,297,000 after buying an additional 1,132,249 shares during the last quarter. Institutional investors and hedge funds own 78.56% of the company’s stock.

Pacific Gas & Electric Price Performance

Shares of NYSE PCG opened at $17.84 on Wednesday. The stock has a market cap of $47.80 billion, a P/E ratio of 12.92, a P/E/G ratio of 1.16 and a beta of 0.28. The firm’s 50-day simple moving average is $17.22 and its 200 day simple moving average is $17.23. Pacific Gas & Electric Co. has a fifty-two week low of $14.30 and a fifty-two week high of $19.16. The company has a quick ratio of 1.15, a current ratio of 1.22 and a debt-to-equity ratio of 1.90.

Pacific Gas & Electric (NYSE:PCG) last issued its quarterly earnings results on Thursday, July 23rd. The utilities provider reported $0.40 earnings per share (EPS) for the quarter, beating the consensus estimate 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 company had revenue of $5.90 billion for the quarter, compared to analysts’ expectations of $6.20 billion. During the same period last year, the firm earned $0.31 EPS. The firm’s revenue for the quarter was up .1% on a year-over-year basis. 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.

Pacific Gas & Electric Announces Dividend

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

Insider Buying and Selling

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 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 directly owned 230,885 shares of the company’s stock, valued at $4,155,930. This represents a 40.67% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 0.22% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

Several analysts have issued reports on the company. BMO Capital Markets cut their price objective on 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. Truist Financial dropped their price target on Pacific Gas & Electric from $23.00 to $21.00 and set a “buy” rating on the stock in a research report on Tuesday, August 4th. 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. Wells Fargo & Company reaffirmed an “overweight” rating and issued a $25.00 price objective on shares of Pacific Gas & Electric in a report on Tuesday, April 21st. Finally, Morgan Stanley set a $22.00 target price on shares of Pacific Gas & Electric in a research note on Thursday, May 21st. Seven 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, Pacific Gas & Electric has an average rating of “Moderate Buy” and an average target price 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.