OVERSEA CHINESE BANKING Corp Ltd Takes Position in Pacific Gas & Electric Co. $PCG

OVERSEA CHINESE BANKING Corp Ltd purchased a new position in Pacific Gas & Electric Co. (NYSE:PCG) in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor purchased 31,125 shares of the utilities provider’s stock, valued at approximately $524,000.

A number of other hedge funds and other institutional investors have also recently modified their holdings of PCG. CoreCap Advisors LLC raised its stake in Pacific Gas & Electric by 13.1% in the second quarter. CoreCap Advisors LLC now owns 5,843 shares of the utilities provider’s stock worth $98,000 after buying an additional 677 shares in the last quarter. Fifth Third Wealth Advisors LLC boosted its position in Pacific Gas & Electric by 5.7% during the 1st quarter. Fifth Third Wealth Advisors LLC now owns 16,368 shares of the utilities provider’s stock valued at $288,000 after acquiring an additional 885 shares in the last quarter. Versant Capital Management Inc boosted its position in Pacific Gas & Electric by 19.6% during the 2nd quarter. Versant Capital Management Inc now owns 6,636 shares of the utilities provider’s stock valued at $112,000 after acquiring an additional 1,088 shares in the last quarter. Commerzbank Aktiengesellschaft FI increased its holdings in shares of Pacific Gas & Electric by 2.7% in the 4th quarter. Commerzbank Aktiengesellschaft FI now owns 42,734 shares of the utilities provider’s stock valued at $687,000 after acquiring an additional 1,142 shares during the period. Finally, Tobam purchased a new position in shares of Pacific Gas & Electric in the 4th quarter valued at $30,000. 78.56% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of brokerages recently weighed in on PCG. Wall Street Zen cut Pacific Gas & Electric from a “buy” rating to a “hold” rating in a research note on Saturday, July 25th. BMO Capital Markets decreased their price target on shares of Pacific Gas & Electric from $28.00 to $27.00 and set an “outperform” rating for the company in a research report on Friday, July 24th. UBS Group restated a “buy” rating on shares of Pacific Gas & Electric in a report on Tuesday. JPMorgan Chase & Co. lowered their price target on shares of Pacific Gas & Electric from $24.00 to $23.00 and set an “overweight” rating on the stock in a report on Friday, May 15th. Finally, Truist Financial cut their price objective on shares of 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. Seven investment analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company. According to data from MarketBeat.com, Pacific Gas & Electric has an average rating of “Moderate Buy” and an average price target of $22.20.

Insider Buying and Selling at Pacific Gas & Electric

In other news, EVP Marlene Santos sold 158,250 shares of the company’s stock in a transaction dated Wednesday, July 22nd. The shares were 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 in the company, valued at $4,155,930. This represents a 40.67% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available 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 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 business has a fifty day moving average price of $17.28 and a 200-day moving average price of $17.27. 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 $47.17 billion, a price-to-earnings ratio of 12.75, a PEG ratio of 1.17 and a beta of 0.28.

Pacific Gas & Electric (NYSE:PCG) last announced its 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 analyst estimates of $6.20 billion. During the same period in the prior year, the company posted $0.31 EPS. The firm’s quarterly revenue 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. Equities research analysts forecast that Pacific Gas & Electric Co. will post 1.65 EPS for the current fiscal 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.