Primecap Management Co. CA Acquires Shares of 766,700 Pacific Gas & Electric Co. $PCG

Primecap Management Co. CA purchased a new stake in Pacific Gas & Electric Co. (NYSE:PCG) during the second quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor purchased 766,700 shares of the utilities provider’s stock, valued at approximately $12,896,000.

Several other hedge funds have also recently bought and sold shares of the stock. Geode Capital Management LLC grew its holdings in shares of Pacific Gas & Electric by 1.9% in the 4th 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. Legal & General Group Plc bought a new position in Pacific Gas & Electric during the 2nd quarter valued at about $398,915,000. Canada Pension Plan Investment Board bought a new position in Pacific Gas & Electric during the 2nd quarter valued at about $320,820,000. Barrow Hanley Mewhinney & Strauss LLC acquired a new position in Pacific Gas & Electric in the second quarter valued at about $314,855,000. Finally, Mitsubishi UFJ Asset Management Co. Ltd. acquired a new position in Pacific Gas & Electric in the second quarter valued at about $90,898,000. 78.56% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of research firms recently commented on PCG. UBS Group restated a “buy” rating on shares of Pacific Gas & Electric in a research report on Tuesday, August 18th. Wall Street Zen downgraded Pacific Gas & Electric from a “buy” rating to a “hold” rating in a research report on Saturday, July 25th. Morgan Stanley reduced their price objective on Pacific Gas & Electric from $23.00 to $22.00 and set an “equal weight” rating on the stock in a research note on Friday, August 21st. BMO Capital Markets decreased their target price on Pacific Gas & Electric from $28.00 to $27.00 and set an “outperform” rating on the stock in a report on Friday, July 24th. Finally, Weiss Ratings lowered Pacific Gas & Electric from a “hold (c+)” rating to a “hold (c)” rating in a research note on Thursday, June 4th. Seven investment analysts have rated the stock with a Buy rating and three have given a Hold rating to the company’s stock. According to data from MarketBeat, Pacific Gas & Electric currently has a consensus rating of “Moderate Buy” and an average price target of $22.20.

Insider Activity

In other news, EVP Marlene Santos sold 158,250 shares of the company’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 transaction, the executive vice president owned 230,885 shares of the company’s stock, valued at $4,155,930. This represents a 40.67% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 0.22% of the stock is owned by company insiders.

Pacific Gas & Electric Stock Performance

PCG stock opened at $18.25 on Thursday. The company has a 50 day moving average price of $17.37 and a 200 day moving average price of $17.33. Pacific Gas & Electric Co. has a fifty-two week low of $14.34 and a fifty-two week high of $19.16. The company has a debt-to-equity ratio of 1.90, a current ratio of 1.22 and a quick ratio of 1.15. The stock has a market capitalization of $48.91 billion, a PE ratio of 13.22, a price-to-earnings-growth ratio of 1.19 and a beta of 0.28.

Pacific Gas & Electric (NYSE:PCG) last announced its quarterly earnings data on Thursday, July 23rd. The utilities provider reported $0.40 EPS for the quarter, beating analysts’ consensus estimates of $0.36 by $0.04. The firm had revenue of $5.90 billion for the quarter, compared to analyst estimates of $6.20 billion. Pacific Gas & Electric had a return on equity of 12.48% and a net margin of 12.25%.The business’s quarterly revenue was up .1% compared to the same quarter last year. During the same period last year, the company earned $0.31 EPS. Pacific Gas & Electric has set its FY 2026 guidance at 1.640-1.660 EPS. Analysts forecast that Pacific Gas & Electric Co. will post 1.65 EPS for the current year.

About Pacific Gas & Electric

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.