Pacific Gas & Electric Co. $PCG Holdings Decreased by Bank of New York Mellon Corp

Bank of New York Mellon Corp lowered its stake in Pacific Gas & Electric Co. (NYSE:PCG) by 1.0% in the 1st quarter, HoldingsChannel.com reports. The firm owned 11,211,025 shares of the utilities provider’s stock after selling 108,536 shares during the quarter. Bank of New York Mellon Corp’s holdings in Pacific Gas & Electric were worth $196,978,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently bought and sold shares of PCG. Tobam acquired a new position in Pacific Gas & Electric during the 4th quarter valued at about $30,000. Torren Management LLC acquired a new stake in shares of Pacific Gas & Electric in the 4th quarter worth approximately $33,000. Modus Advisors LLC acquired a new stake in shares of Pacific Gas & Electric in the 4th quarter worth approximately $36,000. Brown Brothers Harriman & Co. boosted its holdings in shares of 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 valued at $100,000 after acquiring an additional 5,962 shares in the last quarter. Finally, Livforsakringsbolaget Skandia Omsesidigt boosted its holdings in shares of Pacific Gas & Electric by 350.0% in the third quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 9,900 shares of the utilities provider’s stock valued at $149,000 after acquiring an additional 7,700 shares in the last quarter. Institutional investors own 78.56% of the company’s stock.

Pacific Gas & Electric Stock Down 1.2%

PCG stock opened at $17.32 on Friday. Pacific Gas & Electric Co. has a 12 month low of $13.30 and a 12 month high of $19.16. The firm has a market cap of $46.40 billion, a PE ratio of 13.42, a P/E/G ratio of 1.13 and a beta of 0.27. The firm has a 50 day simple moving average of $16.76 and a 200 day simple moving average of $16.92. The company has a debt-to-equity ratio of 1.88, a current ratio of 1.20 and a quick ratio of 1.13.

Pacific Gas & Electric (NYSE:PCG) last posted its quarterly earnings results 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 analyst estimates of $6.20 billion. Pacific Gas & Electric had a net margin of 11.44% and a return on equity of 11.95%. The firm’s quarterly revenue was up 15.0% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.33 earnings per share. Pacific Gas & Electric has set its FY 2026 guidance at 1.640-1.660 EPS. Equities research analysts forecast that Pacific Gas & Electric Co. will post 1.65 earnings per share for the current fiscal year.

Pacific Gas & Electric Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, July 15th. Investors of record on Tuesday, June 30th were issued a $0.05 dividend. This represents a $0.20 dividend on an annualized basis and a dividend yield of 1.2%. The ex-dividend date was Tuesday, June 30th. Pacific Gas & Electric’s payout ratio is presently 15.50%.

Wall Street Analysts Forecast Growth

Several equities research analysts recently commented on PCG shares. 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. Weiss Ratings lowered Pacific Gas & Electric from a “hold (c+)” rating to a “hold (c)” rating in a research note on Thursday, June 4th. JPMorgan Chase & Co. lowered their price target on Pacific Gas & Electric from $24.00 to $23.00 and set an “overweight” rating on the stock in a research report on Friday, May 15th. Truist Financial dropped their price objective on Pacific Gas & Electric from $23.00 to $22.00 and set a “buy” rating on the stock in a research note on Monday, May 18th. Finally, Wells Fargo & Company restated an “overweight” rating and issued a $25.00 price objective on shares of Pacific Gas & Electric in a report on Tuesday, April 21st. Seven equities research analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $22.10.

Insider Activity

In other news, EVP Jason M. Glickman sold 47,264 shares of the business’s stock in a transaction on Tuesday, April 28th. The stock was sold at an average price of $16.35, for a total transaction of $772,766.40. Following the sale, 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 0.22% of the stock is owned by insiders.

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.