Danske Bank A S Buys New Stake in Pacific Gas & Electric Co. $PCG

Danske Bank A S purchased a new stake in Pacific Gas & Electric Co. (NYSE:PCG) during the second quarter, according to its most recent filing with the SEC. The fund purchased 1,725,476 shares of the utilities provider’s stock, valued at approximately $29,023,000. Danske Bank A S owned about 0.06% of Pacific Gas & Electric as of its most recent filing with the SEC.

Other hedge funds have also bought and sold shares of the company. Geode Capital Management LLC boosted its holdings in shares of Pacific Gas & Electric by 1.9% during the 4th quarter. Geode Capital Management LLC now owns 62,134,132 shares of the utilities provider’s stock valued at $1,019,297,000 after purchasing an additional 1,132,249 shares during the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. bought a new stake in shares of Pacific Gas & Electric in the second quarter worth about $90,898,000. SG Americas Securities LLC increased its holdings in shares of Pacific Gas & Electric by 366.6% in the first quarter. SG Americas Securities LLC now owns 2,984,809 shares of the utilities provider’s stock worth $52,443,000 after purchasing an additional 2,345,120 shares during the last quarter. Pinebridge Investments LLC purchased a new stake in shares of Pacific Gas & Electric in the fourth quarter worth about $28,967,000. Finally, Energy Income Partners LLC purchased a new stake in shares of Pacific Gas & Electric in the second quarter worth about $27,902,000. Hedge funds and other institutional investors own 78.56% of the company’s stock.

Pacific Gas & Electric Stock Down 0.9%

Shares of NYSE:PCG opened at $17.66 on Thursday. The company has a current ratio of 1.22, a quick ratio of 1.15 and a debt-to-equity ratio of 1.90. Pacific Gas & Electric Co. has a 12 month low of $14.30 and a 12 month high of $19.16. The company has a 50-day moving average price of $17.24 and a 200 day moving average price of $17.24. The company has a market cap of $47.32 billion, a price-to-earnings ratio of 12.79, a PEG ratio of 1.16 and a beta of 0.28.

Pacific Gas & Electric (NYSE:PCG) last issued its quarterly earnings data on Thursday, July 23rd. The utilities provider reported $0.40 earnings per share for the quarter, topping 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 analysts’ expectations of $6.20 billion. During the same period in the previous year, the firm posted $0.31 earnings per share. The firm’s revenue for the quarter 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, equities research analysts predict that Pacific Gas & Electric Co. will post 1.65 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of equities analysts recently commented on PCG shares. 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 note on Tuesday, August 4th. Wall Street Zen downgraded Pacific Gas & Electric from a “buy” rating to a “hold” rating in a research note on Saturday, July 25th. JPMorgan Chase & Co. decreased their price objective on Pacific Gas & Electric from $24.00 to $23.00 and set an “overweight” rating on the stock in a report on Friday, May 15th. UBS Group reiterated a “buy” rating on shares of Pacific Gas & Electric in a research report on Tuesday. Finally, Morgan Stanley set a $22.00 target price on shares of Pacific Gas & Electric in a report on Thursday, May 21st. Seven equities research analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, Pacific Gas & Electric has a consensus rating of “Moderate Buy” and an average target price of $22.20.

Insider Activity at Pacific Gas & Electric

In other news, EVP Marlene Santos sold 158,250 shares of the business’s stock in a transaction that occurred 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 approximately $4,155,930. The trade was a 40.67% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Company insiders own 0.22% of the company’s stock.

Pacific Gas & Electric 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.