BI Asset Management Fondsmaeglerselskab A S Purchases 65,738 Shares of Pacific Gas & Electric Co. $PCG

BI Asset Management Fondsmaeglerselskab A S increased its position in Pacific Gas & Electric Co. (NYSE:PCG) by 30.1% in the 1st quarter, HoldingsChannel reports. The fund owned 283,946 shares of the utilities provider’s stock after purchasing an additional 65,738 shares during the period. BI Asset Management Fondsmaeglerselskab A S’s holdings in Pacific Gas & Electric were worth $4,989,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Tobam bought a new position in Pacific Gas & Electric during the fourth quarter worth about $30,000. Torren Management LLC bought a new stake in shares of Pacific Gas & Electric in the fourth quarter valued at approximately $33,000. Modus Advisors LLC bought a new stake in shares of Pacific Gas & Electric in the fourth quarter valued at approximately $36,000. Brown Brothers Harriman & Co. lifted its stake in shares of 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 valued at $100,000 after buying an additional 5,962 shares in the last quarter. Finally, Livforsakringsbolaget Skandia Omsesidigt lifted its stake in shares of Pacific Gas & Electric by 350.0% during the 3rd quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 9,900 shares of the utilities provider’s stock valued at $149,000 after buying an additional 7,700 shares in the last quarter. 78.56% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several research analysts recently commented on PCG shares. Weiss Ratings downgraded shares of Pacific Gas & Electric from a “hold (c+)” rating to a “hold (c)” rating in a report on Thursday, June 4th. Jefferies Financial Group reissued a “hold” rating and set a $19.00 target price (down from $20.00) on shares of Pacific Gas & Electric in a report on Monday, March 23rd. Wall Street Zen upgraded Pacific Gas & Electric from a “hold” rating to a “buy” rating in a research report on Saturday, June 13th. Wells Fargo & Company reaffirmed an “overweight” rating and issued a $25.00 price target on shares of Pacific Gas & Electric in a report on Tuesday, April 21st. Finally, Truist Financial reduced their price target on Pacific Gas & Electric from $23.00 to $22.00 and set a “buy” rating for the company in a research report on Monday, May 18th. Seven analysts have rated the stock with a Buy rating, three have given a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $22.10.

Pacific Gas & Electric Price Performance

Shares of NYSE:PCG opened at $16.62 on Tuesday. The company’s fifty day moving average price is $16.67 and its 200-day moving average price is $16.71. The company has a debt-to-equity ratio of 1.88, a current ratio of 1.20 and a quick ratio of 1.13. The firm has a market capitalization of $44.55 billion, a price-to-earnings ratio of 12.89, a PEG ratio of 0.63 and a beta of 0.27. Pacific Gas & Electric Co. has a one year low of $12.97 and a one 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 analysts’ consensus estimates of $0.39 by $0.04. Pacific Gas & Electric had a net margin of 11.44% and a return on equity of 11.95%. The company had revenue of $6.88 billion during the quarter, compared to the consensus estimate of $6.20 billion. During the same period in the previous year, the firm posted $0.33 EPS. The firm’s revenue was up 15.0% compared to the same quarter last year. Pacific Gas & Electric has set its FY 2026 guidance at 1.640-1.660 EPS. On average, equities research analysts anticipate that Pacific Gas & Electric Co. will post 1.65 earnings per share for the current fiscal year.

Pacific Gas & Electric Dividend Announcement

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

Insider Transactions at Pacific Gas & Electric

In other news, EVP Jason M. Glickman sold 47,264 shares of the company’s stock in a transaction dated Tuesday, April 28th. The stock was sold at an average price of $16.35, for a total value of $772,766.40. Following the completion of the transaction, the executive vice president directly owned 136,433 shares in the company, valued at approximately $2,230,679.55. This represents a 25.73% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 0.22% of the stock is currently owned by company insiders.

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.