Pallas Capital Advisors LLC Invests $3.67 Million in Pacific Gas & Electric Co. $PCG

Pallas Capital Advisors LLC purchased a new position in shares of Pacific Gas & Electric Co. (NYSE:PCG) in the 2nd quarter, Holdings Channel.com reports. The firm purchased 218,436 shares of the utilities provider’s stock, valued at approximately $3,674,000.

Several other hedge funds have also recently added to or reduced their stakes in the company. Tobam acquired a new stake in Pacific Gas & Electric during the 4th quarter worth $30,000. Torren Management LLC acquired a new stake in shares of Pacific Gas & Electric in the fourth quarter valued at about $33,000. Modus Advisors LLC acquired a new stake in shares of Pacific Gas & Electric in the fourth quarter valued at about $36,000. CoreCap Advisors LLC lifted its stake in shares of 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. Finally, Brown Brothers Harriman & Co. lifted its stake in shares of Pacific Gas & Electric by 908.8% in the third quarter. Brown Brothers Harriman & Co. now owns 6,618 shares of the utilities provider’s stock worth $100,000 after buying an additional 5,962 shares in the last quarter. 78.56% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at Pacific Gas & Electric

In other news, EVP Marlene Santos sold 158,250 shares of Pacific Gas & Electric stock in a transaction on Wednesday, July 22nd. The stock was 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 directly owned 230,885 shares of the company’s stock, valued at approximately $4,155,930. The trade was a 40.67% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed 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.

Analyst Upgrades and Downgrades

PCG has been the subject of several research reports. Wall Street Zen cut shares of Pacific Gas & Electric from a “buy” rating to a “hold” rating in a research note on Saturday, July 25th. Morgan Stanley set a $22.00 target price on shares of Pacific Gas & Electric in a research note on Thursday, May 21st. Truist Financial dropped their price target on Pacific Gas & Electric from $23.00 to $21.00 and set a “buy” rating for the company in a research report on Tuesday, August 4th. JPMorgan Chase & Co. cut their price target on Pacific Gas & Electric from $24.00 to $23.00 and set an “overweight” rating for the company in a report on Friday, May 15th. Finally, BMO Capital Markets reduced their price objective on Pacific Gas & Electric from $28.00 to $27.00 and set an “outperform” rating on the stock in a research report on Friday, July 24th. Seven research analysts have rated the stock with a Buy rating, two have given a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $22.20.

Pacific Gas & Electric Stock Performance

Pacific Gas & Electric stock opened at $17.54 on Tuesday. The firm has a 50 day simple moving average of $17.19 and a 200-day simple moving average of $17.21. The stock has a market cap of $47.01 billion, a price-to-earnings ratio of 12.71, a price-to-earnings-growth ratio of 1.16 and a beta of 0.28. The company has a debt-to-equity ratio of 1.90, a current ratio of 1.22 and a quick ratio of 1.15. Pacific Gas & Electric Co. has a 1-year low of $14.30 and a 1-year high of $19.16.

Pacific Gas & Electric (NYSE:PCG) last announced its quarterly earnings results on Thursday, July 23rd. The utilities provider reported $0.40 EPS for the quarter, beating the consensus estimate of $0.36 by $0.04. The business 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 company’s quarterly revenue was up .1% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.31 EPS. Pacific Gas & Electric has set its FY 2026 guidance at 1.640-1.660 EPS. On average, analysts expect that Pacific Gas & Electric Co. will post 1.65 EPS for the current year.

Pacific Gas & Electric Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, July 15th. Stockholders of record on Tuesday, June 30th were given a dividend of $0.05 per share. This represents a $0.20 annualized dividend and a dividend yield of 1.1%. The ex-dividend date was Tuesday, June 30th. Pacific Gas & Electric’s dividend payout ratio (DPR) is currently 14.49%.

Pacific Gas & Electric Company 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.