Geode Capital Management LLC Purchases 1,132,249 Shares of Pacific Gas & Electric Co. $PCG

Geode Capital Management LLC boosted its position in shares of Pacific Gas & Electric Co. (NYSE:PCG) by 1.9% in the 4th quarter, HoldingsChannel.com reports. The firm owned 62,134,132 shares of the utilities provider’s stock after buying an additional 1,132,249 shares during the quarter. Geode Capital Management LLC’s holdings in Pacific Gas & Electric were worth $1,019,297,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Torren Management LLC bought a new stake in Pacific Gas & Electric during the 4th quarter worth about $33,000. Cornerstone Planning Group LLC raised its holdings in Pacific Gas & Electric by 3,240.8% during the 3rd quarter. Cornerstone Planning Group LLC now owns 2,372 shares of the utilities provider’s stock worth $36,000 after purchasing an additional 2,301 shares during the last quarter. Brown Brothers Harriman & Co. raised its holdings in 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 worth $100,000 after purchasing an additional 5,962 shares during the last quarter. Livforsakringsbolaget Skandia Omsesidigt raised its holdings in Pacific Gas & Electric by 350.0% during the 3rd quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 9,900 shares of the utilities provider’s stock worth $149,000 after purchasing an additional 7,700 shares during the last quarter. Finally, Dynamic Technology Lab Private Ltd bought a new stake in Pacific Gas & Electric during the 1st quarter worth about $203,000. 78.56% of the stock is owned by institutional investors.

Insider Activity at Pacific Gas & Electric

In related news, Director Kerry Whorton Cooper sold 2,500 shares of the business’s stock in a transaction that occurred on Tuesday, March 17th. The stock was sold at an average price of $18.68, for a total value of $46,700.00. Following the completion of the transaction, the director directly owned 73,141 shares in the company, valued at approximately $1,366,273.88. The trade was a 3.31% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Carla J. Peterman sold 31,786 shares of the business’s stock in a transaction that occurred on 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 of the company’s stock, valued at $3,572,116.21. This represents a 14.01% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last three months, insiders sold 81,550 shares of company stock worth $1,401,468. 0.22% of the stock is owned by company insiders.

Pacific Gas & Electric Price Performance

Shares of PCG opened at $16.35 on Friday. The company has a debt-to-equity ratio of 1.88, a quick ratio of 1.13 and a current ratio of 1.20. The stock has a 50 day simple moving average of $17.00 and a 200 day simple moving average of $16.64. Pacific Gas & Electric Co. has a 52-week low of $12.97 and a 52-week high of $19.16. The firm has a market capitalization of $43.81 billion, a PE ratio of 12.67, a P/E/G ratio of 0.62 and a beta of 0.29.

Pacific Gas & Electric (NYSE:PCG) last issued its quarterly earnings data on Thursday, April 23rd. The utilities provider reported $0.43 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.39 by $0.04. Pacific Gas & Electric had a return on equity of 11.95% and a net margin of 11.44%.The business had revenue of $6.88 billion during the quarter, compared to analyst estimates of $6.20 billion. During the same period in the previous year, the firm earned $0.33 EPS. Pacific Gas & Electric’s quarterly 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. Sell-side analysts predict that Pacific Gas & Electric Co. will post 1.65 EPS for the current fiscal year.

Pacific Gas & Electric Announces Dividend

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

Wall Street Analysts Forecast Growth

A number of analysts have recently commented on PCG shares. UBS Group raised Pacific Gas & Electric from a “neutral” rating to a “buy” rating in a research note on Monday, March 9th. JPMorgan Chase & Co. lowered their price target on Pacific Gas & Electric from $24.00 to $23.00 and set an “overweight” rating for the company in a research note on Friday, May 15th. Barclays upped their price target on Pacific Gas & Electric from $21.00 to $23.00 and gave the company an “overweight” rating in a research note on Wednesday, February 18th. Jefferies Financial Group reaffirmed a “hold” rating and issued a $19.00 price target (down from $20.00) on shares of Pacific Gas & Electric in a research note on Monday, March 23rd. Finally, Wall Street Zen cut Pacific Gas & Electric from a “buy” rating to a “hold” rating in a research note on Sunday, May 3rd. Seven equities research analysts have rated the stock with a Buy rating, four have given a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $22.10.

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.