Mediolanum International Funds Ltd Has $13.99 Million Stake in Pacific Gas & Electric Co. $PCG

Mediolanum International Funds Ltd reduced its stake in Pacific Gas & Electric Co. (NYSE:PCG) by 21.3% during the 1st quarter, HoldingsChannel reports. The fund owned 800,178 shares of the utilities provider’s stock after selling 216,080 shares during the quarter. Mediolanum International Funds Ltd’s holdings in Pacific Gas & Electric were worth $13,987,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Tobam acquired a new position in shares of Pacific Gas & Electric during the 4th quarter worth about $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. Brown Brothers Harriman & Co. raised its holdings in Pacific Gas & Electric by 908.8% during the third quarter. Brown Brothers Harriman & Co. now owns 6,618 shares of the utilities provider’s stock worth $100,000 after acquiring an additional 5,962 shares in the last quarter. Finally, Livforsakringsbolaget Skandia Omsesidigt raised its holdings in Pacific Gas & Electric by 350.0% during the third quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 9,900 shares of the utilities provider’s stock worth $149,000 after acquiring an additional 7,700 shares in the last quarter. 78.56% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

PCG has been the subject of several recent analyst reports. Morgan Stanley set a $22.00 price objective on Pacific Gas & Electric in a report on Thursday, May 21st. JPMorgan Chase & Co. lowered their target price on shares of Pacific Gas & Electric from $24.00 to $23.00 and set an “overweight” rating on the stock in a report on Friday, May 15th. Wall Street Zen raised shares of Pacific Gas & Electric from a “hold” rating to a “buy” rating in a research report on Saturday, June 13th. Wells Fargo & Company reiterated an “overweight” rating and issued a $25.00 price target on shares of Pacific Gas & Electric in a research note on Tuesday, April 21st. Finally, Jefferies Financial Group reissued a “hold” rating and issued a $19.00 price objective (down from $20.00) on shares of Pacific Gas & Electric in a research report on Monday, March 23rd. Seven research analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, Pacific Gas & Electric has an average rating of “Moderate Buy” and a consensus price target of $22.10.

Insider Buying and Selling

In other Pacific Gas & Electric news, EVP Jason M. Glickman sold 47,264 shares of Pacific Gas & Electric stock in a transaction 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 directly owned 136,433 shares of the company’s stock, valued at $2,230,679.55. The trade was a 25.73% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 0.22% of the stock is currently owned by company insiders.

Pacific Gas & Electric Price Performance

NYSE:PCG opened at $17.32 on Monday. The company has a quick ratio of 1.13, a current ratio of 1.20 and a debt-to-equity ratio of 1.88. The stock’s 50 day moving average price is $16.76 and its two-hundred day moving average price is $16.93. The firm has a market capitalization of $46.40 billion, a price-to-earnings ratio of 13.42, a P/E/G ratio of 1.13 and a beta of 0.27. Pacific Gas & Electric Co. has a 12-month low of $13.30 and a 12-month high of $19.16.

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

Pacific Gas & Electric Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Wednesday, July 15th. Shareholders of record on Tuesday, June 30th were issued a dividend of $0.05 per share. The ex-dividend date of this dividend was Tuesday, June 30th. This represents a $0.20 annualized dividend and a yield of 1.2%. Pacific Gas & Electric’s dividend payout ratio (DPR) is currently 15.50%.

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.