GSA Capital Partners LLP Purchases Shares of 100,461 Pacific Gas & Electric Co. $PCG

GSA Capital Partners LLP acquired a new position in Pacific Gas & Electric Co. (NYSE:PCG) during the second quarter, according to its most recent filing with the SEC. The firm acquired 100,461 shares of the utilities provider’s stock, valued at approximately $1,690,000.

Other hedge funds have also added to or reduced their stakes in the company. Tobam purchased a new stake in shares of Pacific Gas & Electric in the 4th quarter worth about $30,000. Torren Management LLC purchased a new position in shares of Pacific Gas & Electric during the fourth quarter valued at about $33,000. Modus Advisors LLC bought a new position in Pacific Gas & Electric in the fourth quarter worth about $36,000. CoreCap Advisors LLC raised its stake in 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 holdings in 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 during the period. 78.56% of the stock is owned by hedge funds and other institutional investors.

Pacific Gas & Electric Stock Down 0.1%

NYSE:PCG opened at $17.82 on Monday. The company has a debt-to-equity ratio of 1.90, a quick ratio of 1.15 and a current ratio of 1.22. The firm has a market cap of $47.76 billion, a P/E ratio of 12.91, a P/E/G ratio of 1.16 and a beta of 0.28. Pacific Gas & Electric Co. has a fifty-two week low of $14.30 and a fifty-two week high of $19.16. The firm has a 50-day simple moving average of $17.17 and a two-hundred day simple moving average of $17.19.

Pacific Gas & Electric (NYSE:PCG) last issued its earnings results on Thursday, July 23rd. The utilities provider reported $0.40 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.36 by $0.04. The firm had revenue of $5.90 billion for the quarter, compared to the consensus estimate of $6.20 billion. Pacific Gas & Electric had a net margin of 12.25% and a return on equity of 12.48%. The business’s revenue was up .1% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.31 earnings per share. Pacific Gas & Electric has set its FY 2026 guidance at 1.640-1.660 EPS. Analysts predict that Pacific Gas & Electric Co. will post 1.65 earnings per share for the current fiscal year.

Pacific Gas & Electric Announces Dividend

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

Insider Activity at Pacific Gas & Electric

In other Pacific Gas & Electric 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 owned 230,885 shares of the company’s stock, valued at approximately $4,155,930. This trade represents a 40.67% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders own 0.22% of the company’s stock.

Analysts Set New Price Targets

A number of research firms have weighed in on PCG. Wells Fargo & Company reiterated an “overweight” rating and set a $25.00 target price on shares of Pacific Gas & Electric in a report on Tuesday, April 21st. BMO Capital Markets dropped their price target 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. Morgan Stanley set a $22.00 price target on Pacific Gas & Electric in a research note on Thursday, May 21st. Truist Financial lowered their price objective 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. Finally, Weiss Ratings cut shares of Pacific Gas & Electric from a “hold (c+)” rating to a “hold (c)” rating in a report on Thursday, June 4th. Seven investment analysts have rated the stock with a Buy rating, three have given a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $22.20.

About Pacific Gas & Electric

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.