Sterling Capital Management LLC Sells 53,739 Shares of Pacific Gas & Electric Co. $PCG

Sterling Capital Management LLC reduced its position in Pacific Gas & Electric Co. (NYSE:PCG) by 41.1% in the 1st quarter, according to its most recent filing with the SEC. The firm owned 77,038 shares of the utilities provider’s stock after selling 53,739 shares during the period. Sterling Capital Management LLC’s holdings in Pacific Gas & Electric were worth $1,354,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Tobam acquired a new position in shares of Pacific Gas & Electric during the fourth quarter valued at $30,000. Torren Management LLC acquired a new stake in Pacific Gas & Electric in the fourth quarter worth about $33,000. Modus Advisors LLC acquired a new stake in Pacific Gas & Electric in the fourth quarter worth about $36,000. Brown Brothers Harriman & Co. raised its holdings in Pacific Gas & Electric by 908.8% during the 3rd quarter. Brown Brothers Harriman & Co. now owns 6,618 shares of the utilities provider’s stock worth $100,000 after purchasing an additional 5,962 shares during the last quarter. Finally, Livforsakringsbolaget Skandia Omsesidigt raised its holdings in Pacific Gas & Electric by 350.0% during the 3rd quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 9,900 shares of the utilities provider’s stock worth $149,000 after purchasing an additional 7,700 shares during the last quarter. Institutional investors own 78.56% of the company’s stock.

Insider Transactions at Pacific Gas & Electric

In related news, EVP Jason M. Glickman sold 47,264 shares of the business’s stock in a transaction that occurred on Tuesday, April 28th. The shares were sold at an average price of $16.35, for a total transaction of $772,766.40. Following the completion of the transaction, the executive vice president owned 136,433 shares in the company, valued at approximately $2,230,679.55. The trade was a 25.73% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Corporate insiders own 0.22% of the company’s stock.

Analyst Ratings Changes

A number of research analysts have issued reports on PCG shares. Jefferies Financial Group restated a “hold” rating and set a $19.00 target price (down from $20.00) on shares of Pacific Gas & Electric in a research report on Monday, March 23rd. Morgan Stanley set a $22.00 price target on shares of Pacific Gas & Electric in a research report on Thursday, May 21st. JPMorgan Chase & Co. dropped 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. UBS Group upgraded shares of Pacific Gas & Electric from a “neutral” rating to a “buy” rating in a report on Monday, March 9th. Finally, Wall Street Zen raised shares of Pacific Gas & Electric from a “hold” rating to a “buy” rating in a research note on Saturday, June 13th. Seven investment analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, Pacific Gas & Electric has a consensus rating of “Moderate Buy” and a consensus target price of $22.10.

Pacific Gas & Electric Trading Down 0.8%

NYSE PCG opened at $17.25 on Tuesday. Pacific Gas & Electric Co. has a 12 month low of $12.97 and a 12 month high of $19.16. The stock has a 50-day simple moving average of $16.61 and a 200 day simple moving average of $16.78. The company has a current ratio of 1.20, a quick ratio of 1.13 and a debt-to-equity ratio of 1.88. The company has a market capitalization of $46.22 billion, a PE ratio of 13.37, a P/E/G ratio of 0.66 and a beta of 0.27.

Pacific Gas & Electric (NYSE:PCG) last issued its earnings results on Thursday, April 23rd. The utilities provider reported $0.43 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.39 by $0.04. The firm had revenue of $6.88 billion for the quarter, compared to analysts’ expectations of $6.20 billion. Pacific Gas & Electric had a return on equity of 11.95% and a net margin of 11.44%.The company’s revenue was up 15.0% compared to the same quarter last year. During the same quarter last year, the business earned $0.33 earnings per share. Pacific Gas & Electric has set its FY 2026 guidance at 1.640-1.660 EPS. Research analysts forecast that Pacific Gas & Electric Co. will post 1.65 EPS for the current year.

Pacific Gas & Electric Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 15th. Investors of record on Tuesday, June 30th will be issued a dividend of $0.05 per share. The ex-dividend date is Tuesday, June 30th. This represents a $0.20 dividend on an annualized basis and a yield of 1.2%. Pacific Gas & Electric’s payout ratio is currently 15.50%.

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.