Pacific Gas & Electric Co. $PCG Shares Acquired by Ieq Capital LLC

Ieq Capital LLC increased its position in shares of Pacific Gas & Electric Co. (NYSE:PCG) by 444.0% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 768,333 shares of the utilities provider’s stock after purchasing an additional 627,099 shares during the period. Ieq Capital LLC’s holdings in Pacific Gas & Electric were worth $13,200,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the stock. Causeway Capital Management LLC lifted its position in Pacific Gas & Electric by 1.8% in the first quarter. Causeway Capital Management LLC now owns 2,567,270 shares of the utilities provider’s stock valued at $44,106,000 after acquiring an additional 46,597 shares during the last quarter. Caisse DE Depot ET Placement DU Quebec raised its holdings in shares of Pacific Gas & Electric by 670.7% in the first quarter. Caisse DE Depot ET Placement DU Quebec now owns 1,056,730 shares of the utilities provider’s stock valued at $18,155,000 after buying an additional 919,622 shares during the last quarter. Kayne Anderson Rudnick Investment Management LLC raised its holdings in shares of Pacific Gas & Electric by 6,702.5% in the first quarter. Kayne Anderson Rudnick Investment Management LLC now owns 13,673 shares of the utilities provider’s stock valued at $235,000 after buying an additional 13,472 shares during the last quarter. SVB Wealth LLC purchased a new stake in shares of Pacific Gas & Electric in the first quarter valued at about $93,000. Finally, BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp raised its holdings in shares of Pacific Gas & Electric by 7.9% in the first quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 419,490 shares of the utilities provider’s stock valued at $7,207,000 after buying an additional 30,627 shares during the last quarter. 78.56% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several research analysts recently issued reports on PCG shares. Barclays cut their price target on shares of Pacific Gas & Electric from $22.00 to $20.00 and set an “overweight” rating for the company in a report on Tuesday, July 22nd. Argus raised shares of Pacific Gas & Electric to a “hold” rating in a report on Monday, June 16th. Zacks Research raised shares of Pacific Gas & Electric from a “strong sell” rating to a “hold” rating in a report on Monday, August 18th. Morgan Stanley reissued an “underweight” rating on shares of Pacific Gas & Electric in a report on Thursday, August 21st. Finally, Mizuho increased their price target on shares of Pacific Gas & Electric from $20.00 to $21.00 and gave the stock an “outperform” rating in a report on Monday, May 19th. Seven equities research analysts have rated the stock with a Buy rating, five have given a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $20.55.

Pacific Gas & Electric Trading Up 0.4%

Shares of Pacific Gas & Electric stock opened at $15.11 on Thursday. Pacific Gas & Electric Co. has a 12-month low of $12.97 and a 12-month high of $21.72. The company has a current ratio of 0.94, a quick ratio of 0.89 and a debt-to-equity ratio of 1.81. The stock has a market cap of $40.41 billion, a PE ratio of 13.86, a price-to-earnings-growth ratio of 1.12 and a beta of 0.54. The company has a 50-day moving average of $14.26 and a two-hundred day moving average of $15.71.

Pacific Gas & Electric (NYSE:PCG) last released its quarterly earnings results on Thursday, July 31st. The utilities provider reported $0.31 EPS for the quarter, missing the consensus estimate of $0.33 by ($0.02). The business had revenue of $5.90 billion during the quarter, compared to analyst estimates of $6.37 billion. Pacific Gas & Electric had a net margin of 9.95% and a return on equity of 10.13%. The firm’s revenue for the quarter was down 1.5% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.31 earnings per share. Pacific Gas & Electric has set its FY 2025 guidance at 1.480-1.520 EPS. On average, research analysts anticipate that Pacific Gas & Electric Co. will post 1.49 EPS for the current fiscal year.

Pacific Gas & Electric Company Profile

PG&E Corp. operates as a holding company, which engages in generation, transmission, and distribution of electricity and natural gas to customers. It specializes in energy, utility, power, gas, electricity, solar and sustainability. The company was founded in 1995 and is headquartered in Oakland, CA.