Harrison Street Private Wealth LLC Purchases New Position in Pacific Gas & Electric Co. $PCG

Harrison Street Private Wealth LLC purchased a new position in shares of Pacific Gas & Electric Co. (NYSE:PCG) in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 207,369 shares of the utilities provider’s stock, valued at approximately $3,643,000. Pacific Gas & Electric makes up approximately 4.8% of Harrison Street Private Wealth LLC’s holdings, making the stock its 10th biggest holding.

A number of other institutional investors and hedge funds have also bought and sold shares of PCG. Tobam purchased a new position in Pacific Gas & Electric in the fourth quarter worth $30,000. Torren Management LLC purchased a new position in shares of Pacific Gas & Electric in the 4th quarter worth about $33,000. Modus Advisors LLC purchased a new position in shares of Pacific Gas & Electric in the 4th quarter worth about $36,000. Brown Brothers Harriman & Co. grew its position 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 valued at $100,000 after buying an additional 5,962 shares during the period. Finally, Livforsakringsbolaget Skandia Omsesidigt increased 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 buying an additional 7,700 shares during the last quarter. 78.56% of the stock is owned by hedge funds and other institutional investors.

Pacific Gas & Electric Trading Up 2.9%

Shares of PCG stock opened at $17.05 on Friday. The company’s fifty day simple moving average is $16.59 and its two-hundred day simple moving average is $16.82. 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 Co. has a 1 year low of $12.97 and a 1 year high of $19.16. The stock has a market capitalization of $45.71 billion, a price-to-earnings ratio of 13.22, a PEG ratio of 0.63 and a beta of 0.27.

Pacific Gas & Electric (NYSE:PCG) last posted its quarterly earnings results on Thursday, April 23rd. The utilities provider reported $0.43 EPS for the quarter, topping analysts’ consensus estimates of $0.39 by $0.04. The firm had revenue of $6.88 billion during the quarter, compared to analyst estimates 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% on a year-over-year basis. During the same period last year, the company earned $0.33 earnings per share. Pacific Gas & Electric has set its FY 2026 guidance at 1.640-1.660 EPS. As a group, analysts anticipate that Pacific Gas & Electric Co. will post 1.65 earnings per share for the current year.

Pacific Gas & Electric Dividend Announcement

The business also recently announced 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 dividend on an annualized basis and a yield of 1.2%. The ex-dividend date of this dividend is Tuesday, June 30th. Pacific Gas & Electric’s payout ratio is presently 15.50%.

Insiders Place Their Bets

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 transaction of $772,766.40. Following the sale, the executive vice president directly owned 136,433 shares in the company, valued at $2,230,679.55. This represents a 25.73% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. 0.22% of the stock is owned by insiders.

Analysts Set New Price Targets

A number of research analysts have recently weighed in on the stock. 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 research report on Monday, March 23rd. Wall Street Zen upgraded Pacific Gas & Electric from a “hold” rating to a “buy” rating in a research note on Saturday, June 13th. Morgan Stanley set a $22.00 price objective on Pacific Gas & Electric in a report on Thursday, May 21st. UBS Group upgraded Pacific Gas & Electric from a “neutral” rating to a “buy” rating in a research note on Monday, March 9th. Finally, Weiss Ratings downgraded Pacific Gas & Electric from a “hold (c+)” rating to a “hold (c)” rating in a research note on Thursday, June 4th. 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, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $22.10.

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.