Wealthfront Advisers LLC Buys Shares of 173,462 Pacific Gas & Electric Co. $PCG

Wealthfront Advisers LLC bought a new stake in shares of Pacific Gas & Electric Co. (NYSE:PCG) during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor bought 173,462 shares of the utilities provider’s stock, valued at approximately $2,918,000.

Several other hedge funds and other institutional investors have also recently modified their holdings of PCG. Focus Partners Advisor Solutions LLC purchased a new position in Pacific Gas & Electric during the 2nd quarter valued at $4,044,000. PFA Pension Forsikringsaktieselskab bought a new position in Pacific Gas & Electric in the 4th quarter valued at $1,898,000. Harrison Street Private Wealth LLC purchased a new stake in Pacific Gas & Electric in the first quarter worth $3,643,000. Horizon Investments LLC increased its stake 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 worth $2,648,000 after purchasing an additional 67,677 shares during the period. Finally, Geode Capital Management LLC lifted its position in shares of Pacific Gas & Electric by 1.9% during the fourth quarter. Geode Capital Management LLC now owns 62,134,132 shares of the utilities provider’s stock worth $1,019,297,000 after purchasing an additional 1,132,249 shares during the last quarter. 78.56% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on PCG. Weiss Ratings cut shares of Pacific Gas & Electric from a “hold (c+)” rating to a “hold (c)” rating in a report on Thursday, June 4th. UBS Group reiterated a “buy” rating on shares of Pacific Gas & Electric in a report on Tuesday. Morgan Stanley set a $22.00 price objective on shares of Pacific Gas & Electric in a research report on Thursday, May 21st. Truist Financial dropped their target price on shares of Pacific Gas & Electric from $23.00 to $21.00 and set a “buy” rating on the stock in a research note on Tuesday, August 4th. Finally, JPMorgan Chase & Co. reduced their target price 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. Seven analysts have rated the stock with a Buy rating, two have given a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $22.20.

Insider Activity at Pacific Gas & Electric

In other news, EVP Marlene Santos sold 158,250 shares of the business’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 completion of the sale, the executive vice president 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. Corporate insiders own 0.22% of the company’s stock.

Pacific Gas & Electric Stock Performance

Shares of Pacific Gas & Electric stock opened at $17.99 on Friday. The firm has a market cap of $48.22 billion, a P/E ratio of 13.04, a P/E/G ratio of 1.15 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. Pacific Gas & Electric Co. has a 12 month low of $14.30 and a 12 month high of $19.16. The stock’s fifty day moving average price is $17.26 and its 200-day moving average price is $17.26.

Pacific Gas & Electric (NYSE:PCG) last released its quarterly earnings data on Thursday, July 23rd. The utilities provider reported $0.40 earnings per share for the quarter, topping analysts’ consensus estimates of $0.36 by $0.04. Pacific Gas & Electric had a net margin of 12.25% and a return on equity of 12.48%. The company had revenue of $5.90 billion during the quarter, compared to analyst estimates of $6.20 billion. During the same period in the prior year, the firm earned $0.31 earnings per share. The firm’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 research analysts expect that Pacific Gas & Electric Co. will post 1.65 earnings per share for the current fiscal year.

Pacific Gas & Electric 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.