Bank of New York Mellon Corp Has $181.91 Million Stock Holdings in Pacific Gas & Electric Co. $PCG

Bank of New York Mellon Corp lessened its stake in Pacific Gas & Electric Co. (NYSE:PCG) by 13.6% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 11,319,561 shares of the utilities provider’s stock after selling 1,784,404 shares during the quarter. Bank of New York Mellon Corp’s holdings in Pacific Gas & Electric were worth $181,905,000 at the end of the most recent reporting period.

Several other large investors have also recently added to or reduced their stakes in PCG. PFA Pension Forsikringsaktieselskab acquired a new position in shares of Pacific Gas & Electric during the fourth quarter valued at $1,898,000. SG Americas Securities LLC boosted its holdings in shares of Pacific Gas & Electric by 3,875.9% during the fourth quarter. SG Americas Securities LLC now owns 639,689 shares of the utilities provider’s stock valued at $10,280,000 after acquiring an additional 623,600 shares during the period. Horizon Investments LLC boosted its holdings in shares of Pacific Gas & Electric by 69.7% during the fourth quarter. Horizon Investments LLC now owns 164,784 shares of the utilities provider’s stock valued at $2,648,000 after acquiring an additional 67,677 shares during the period. Geode Capital Management LLC lifted its holdings in Pacific Gas & Electric by 1.9% in the fourth quarter. Geode Capital Management LLC now owns 62,134,132 shares of the utilities provider’s stock worth $1,019,297,000 after purchasing an additional 1,132,249 shares during the period. Finally, Farther Finance Advisors LLC lifted its holdings in Pacific Gas & Electric by 80.3% in the fourth quarter. Farther Finance Advisors LLC now owns 81,917 shares of the utilities provider’s stock worth $1,316,000 after purchasing an additional 36,480 shares during the period. Institutional investors and hedge funds own 78.56% of the company’s stock.

Analysts Set New Price Targets

PCG has been the subject of several research analyst reports. UBS Group raised shares of Pacific Gas & Electric from a “neutral” rating to a “buy” rating in a report on Monday, March 9th. Truist Financial reduced their price objective on shares of Pacific Gas & Electric from $23.00 to $22.00 and set a “buy” rating for the company in a report on Monday, May 18th. Jefferies Financial Group reaffirmed a “hold” rating and issued a $19.00 price objective (down from $20.00) on shares of Pacific Gas & Electric in a report on Monday, March 23rd. Weiss Ratings downgraded shares of Pacific Gas & Electric from a “hold (c+)” rating to a “hold (c)” rating in a report on Thursday. Finally, Wells Fargo & Company reaffirmed an “overweight” rating and issued a $25.00 price objective on shares of Pacific Gas & Electric in a report on Tuesday, April 21st. Seven research analysts have rated the stock with a Buy rating, four have assigned a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $22.10.

Insiders Place Their Bets

In other news, Director Kerry Whorton Cooper sold 2,500 shares of the company’s stock in a transaction dated Tuesday, March 17th. The stock was sold at an average price of $18.68, for a total value of $46,700.00. Following the transaction, the director owned 73,141 shares in the company, valued at $1,366,273.88. This represents a 3.31% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, EVP Carla J. Peterman sold 31,786 shares of the company’s stock in a transaction dated Monday, March 16th. The shares were sold at an average price of $18.31, for a total value of $582,001.66. Following the completion of the transaction, the executive vice president owned 195,091 shares in the company, valued at $3,572,116.21. This represents a 14.01% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last quarter, insiders have sold 81,550 shares of company stock worth $1,401,468. Company insiders own 0.22% of the company’s stock.

Pacific Gas & Electric Price Performance

NYSE PCG opened at $17.10 on Friday. The stock’s 50-day moving average price is $16.92 and its two-hundred day moving average price is $16.65. 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 cap of $45.84 billion, a PE ratio of 13.26, a PEG ratio of 0.64 and a beta of 0.27. Pacific Gas & Electric Co. has a 1 year low of $12.97 and a 1 year high of $19.16.

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

Pacific Gas & Electric Announces Dividend

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

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.