Candriam S.C.A. Trims Stake in Pacific Gas & Electric Co. $PCG

Candriam S.C.A. reduced its stake in shares of Pacific Gas & Electric Co. (NYSE:PCG) by 28.7% in the 1st quarter, Holdings Channel reports. The fund owned 199,141 shares of the utilities provider’s stock after selling 79,986 shares during the period. Candriam S.C.A.’s holdings in Pacific Gas & Electric were worth $3,421,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors also recently bought and sold shares of the stock. Vanguard Group Inc. raised its position in Pacific Gas & Electric by 1.2% during the first quarter. Vanguard Group Inc. now owns 257,285,352 shares of the utilities provider’s stock valued at $4,420,162,000 after acquiring an additional 2,926,384 shares in the last quarter. Northern Trust Corp increased its position in shares of Pacific Gas & Electric by 4.3% in the first quarter. Northern Trust Corp now owns 19,944,322 shares of the utilities provider’s stock valued at $342,643,000 after buying an additional 818,377 shares in the last quarter. BROOKFIELD Corp ON increased its position in shares of Pacific Gas & Electric by 16.2% in the fourth quarter. BROOKFIELD Corp ON now owns 14,692,444 shares of the utilities provider’s stock valued at $296,494,000 after buying an additional 2,049,359 shares in the last quarter. Charles Schwab Investment Management Inc. increased its position in shares of Pacific Gas & Electric by 5.9% in the first quarter. Charles Schwab Investment Management Inc. now owns 12,882,526 shares of the utilities provider’s stock valued at $221,322,000 after buying an additional 720,500 shares in the last quarter. Finally, Zimmer Partners LP increased its position in shares of Pacific Gas & Electric by 84.9% in the fourth quarter. Zimmer Partners LP now owns 12,661,324 shares of the utilities provider’s stock valued at $255,506,000 after buying an additional 5,814,624 shares in 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 analysts have recently commented on PCG shares. Wells Fargo & Company restated an “overweight” rating and issued a $24.00 price objective on shares of Pacific Gas & Electric in a research report on Friday, April 25th. Barclays cut their price objective on Pacific Gas & Electric from $22.00 to $20.00 and set an “overweight” rating for the company in a research report on Tuesday, July 22nd. Zacks Research upgraded Pacific Gas & Electric from a “strong sell” rating to a “hold” rating in a research report on Monday, August 18th. Argus upgraded Pacific Gas & Electric to a “hold” rating in a research report on Monday, June 16th. Finally, Evercore ISI boosted their price target on Pacific Gas & Electric from $15.00 to $17.00 and gave the stock an “in-line” rating in a research report on Monday, April 28th. Seven research analysts have rated the stock with a Buy rating, five have issued a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $20.55.

Pacific Gas & Electric Stock Up 3.4%

Shares of PCG opened at $15.1650 on Friday. The company has a debt-to-equity ratio of 1.81, a quick ratio of 0.89 and a current ratio of 0.94. Pacific Gas & Electric Co. has a one year low of $12.97 and a one year high of $21.72. The stock has a market capitalization of $40.58 billion, a price-to-earnings ratio of 13.91, a PEG ratio of 1.09 and a beta of 0.54. The stock has a 50 day moving average price of $14.19 and a 200 day moving average price of $15.73.

Pacific Gas & Electric (NYSE:PCG) last issued 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). Pacific Gas & Electric had a return on equity of 10.13% and a net margin of 9.95%.The firm had revenue of $5.90 billion for the quarter, compared to analysts’ expectations of $6.37 billion. During the same quarter in the previous year, the firm posted $0.31 earnings per share. The firm’s revenue for the quarter was down 1.5% compared to the same quarter last year. Pacific Gas & Electric has set its FY 2025 guidance at 1.480-1.520 EPS. Equities research analysts forecast that Pacific Gas & Electric Co. will post 1.49 earnings per share 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.