Korea Investment CORP Makes New $38.82 Million Investment in Pacific Gas & Electric Co. $PCG

Korea Investment CORP bought a new stake in Pacific Gas & Electric Co. (NYSE:PCG) during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 2,308,186 shares of the utilities provider’s stock, valued at approximately $38,824,000.

A number of other institutional investors and hedge funds have also recently modified their holdings of the stock. EP Wealth Advisors LLC purchased a new stake in shares of Pacific Gas & Electric during the 2nd quarter worth approximately $1,271,000. Ieq Capital LLC bought a new position in Pacific Gas & Electric during the second quarter valued at $72,739,000. Callan Family Office LLC bought a new position in Pacific Gas & Electric during the second quarter valued at $270,000. Keating Financial Advisory Services Inc. purchased a new stake in Pacific Gas & Electric in the second quarter worth $28,000. Finally, Allworth Financial LP purchased a new stake in Pacific Gas & Electric in the second quarter worth $5,842,000. 78.56% of the stock is owned by institutional investors.

Pacific Gas & Electric Stock Down 2.0%

Pacific Gas & Electric stock opened at $17.60 on Friday. Pacific Gas & Electric Co. has a 1-year low of $14.34 and a 1-year high of $19.16. The firm has a market capitalization of $47.17 billion, a price-to-earnings ratio of 12.75, a P/E/G ratio of 1.14 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 firm has a 50 day simple moving average of $17.28 and a 200 day simple moving average of $17.27.

Pacific Gas & Electric (NYSE:PCG) last posted its earnings results on Thursday, July 23rd. The utilities provider reported $0.40 earnings per share (EPS) for the quarter, topping 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 firm had revenue of $5.90 billion for the quarter, compared to the consensus estimate of $6.20 billion. During the same quarter in the prior year, the business posted $0.31 earnings per share. The business’s quarterly revenue was up .1% on a year-over-year basis. Pacific Gas & Electric has set its FY 2026 guidance at 1.640-1.660 EPS. On average, analysts predict that Pacific Gas & Electric Co. will post 1.65 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several analysts have issued reports on PCG shares. Weiss Ratings lowered Pacific Gas & Electric from a “hold (c+)” rating to a “hold (c)” rating in a research note on Thursday, June 4th. BMO Capital Markets decreased their price objective 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. UBS Group reissued a “buy” rating on shares of Pacific Gas & Electric in a report on Tuesday. Morgan Stanley dropped their price objective on shares of Pacific Gas & Electric from $23.00 to $22.00 and set an “equal weight” rating on the stock in a report on Friday. Finally, Truist Financial cut 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 research report on Tuesday, August 4th. Seven investment analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company’s stock. Based on data from MarketBeat, Pacific Gas & Electric presently has a consensus rating of “Moderate Buy” and a consensus target price of $22.20.

Insider Activity

In related news, EVP Marlene Santos sold 158,250 shares of the business’s stock in a transaction on Wednesday, July 22nd. The stock was 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 in the company, valued at approximately $4,155,930. The trade was a 40.67% decrease in their position. The transaction 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. Insiders own 0.22% of the company’s stock.

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.