Caisse de depot et placement du Quebec Buys Shares of 3,521,537 Pacific Gas & Electric Co. $PCG

Caisse de depot et placement du Quebec purchased a new position in shares of Pacific Gas & Electric Co. (NYSE:PCG) in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund purchased 3,521,537 shares of the utilities provider’s stock, valued at approximately $59,232,000.

Other institutional investors and hedge funds also recently modified their holdings of the company. Dynamic Technology Lab Private Ltd acquired a new stake in Pacific Gas & Electric in the first quarter worth about $203,000. Empowered Funds LLC grew its position in Pacific Gas & Electric by 16.4% in the 1st quarter. Empowered Funds LLC now owns 46,936 shares of the utilities provider’s stock valued at $806,000 after buying an additional 6,601 shares in the last quarter. Woodline Partners LP increased its stake in Pacific Gas & Electric by 41.2% during the 1st quarter. Woodline Partners LP now owns 185,324 shares of the utilities provider’s stock valued at $3,184,000 after buying an additional 54,033 shares during the period. Focus Partners Wealth increased its stake in Pacific Gas & Electric by 93.0% during the 1st quarter. Focus Partners Wealth now owns 83,816 shares of the utilities provider’s stock valued at $1,440,000 after buying an additional 40,380 shares during the period. Finally, BI Asset Management Fondsmaeglerselskab A S increased its stake in Pacific Gas & Electric by 499.7% during the 2nd quarter. BI Asset Management Fondsmaeglerselskab A S now owns 433,064 shares of the utilities provider’s stock valued at $6,037,000 after buying an additional 360,845 shares during the period. Institutional investors own 78.56% of the company’s stock.

Pacific Gas & Electric Price Performance

NYSE:PCG opened at $17.95 on Friday. The company has a quick ratio of 1.15, a current ratio of 1.22 and a debt-to-equity ratio of 1.90. The business’s 50-day moving average price is $17.40 and its 200 day moving average price is $17.34. Pacific Gas & Electric Co. has a 52-week low of $14.34 and a 52-week high of $19.16. The firm has a market cap of $48.09 billion, a P/E ratio of 13.00, a PEG ratio of 1.19 and a beta of 0.28.

Pacific Gas & Electric (NYSE:PCG) last issued its quarterly earnings results on Thursday, July 23rd. The utilities provider reported $0.40 earnings per share for the quarter, beating 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 the consensus estimate of $6.20 billion. During the same period in the prior year, the company earned $0.31 EPS. Pacific Gas & Electric’s 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. As a group, sell-side analysts predict that Pacific Gas & Electric Co. will post 1.65 earnings per share for the current fiscal year.

Analyst Ratings Changes

PCG has been the subject of a number of research analyst reports. JPMorgan Chase & Co. reduced their price target on shares of Pacific Gas & Electric from $24.00 to $23.00 and set an “overweight” rating for the company in a research note on Friday, May 15th. Weiss Ratings lowered shares of Pacific Gas & Electric from a “hold (c+)” rating to a “hold (c)” rating in a research note on Thursday, June 4th. UBS Group reissued a “buy” rating on shares of Pacific Gas & Electric in a report on Tuesday, August 18th. BMO Capital Markets cut their target price on 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. Finally, Truist Financial decreased their price target on Pacific Gas & Electric from $23.00 to $21.00 and set a “buy” rating for the company in a research note on Tuesday, August 4th. Seven equities research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the 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 at Pacific Gas & Electric

In related news, EVP Marlene Santos sold 158,250 shares of the business’s stock in a transaction that occurred on 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 sale, the executive vice president directly owned 230,885 shares in the company, valued at $4,155,930. The trade was a 40.67% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, 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 insiders.

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.