Plato Investment Management Ltd Makes New $1.56 Million Investment in Pacific Gas & Electric Co. $PCG

Plato Investment Management Ltd purchased a new stake in Pacific Gas & Electric Co. (NYSE:PCG) during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund purchased 93,343 shares of the utilities provider’s stock, valued at approximately $1,561,000.

A number of other hedge funds and other institutional investors also recently made changes to their positions in PCG. Tobam bought a new stake in Pacific Gas & Electric in the fourth quarter valued at about $30,000. Torren Management LLC acquired a new stake in shares of Pacific Gas & Electric in the 4th quarter valued at $33,000. Modus Advisors LLC acquired a new position in Pacific Gas & Electric in the fourth quarter valued at about $36,000. CoreCap Advisors LLC grew its position in Pacific Gas & Electric by 13.1% during the 2nd quarter. CoreCap Advisors LLC now owns 5,843 shares of the utilities provider’s stock worth $98,000 after acquiring an additional 677 shares during the last quarter. Finally, Brown Brothers Harriman & Co. grew its holdings in shares of 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 worth $100,000 after purchasing an additional 5,962 shares during the last quarter. 78.56% of the stock is owned by institutional investors.

Insider Activity

In related news, EVP Marlene Santos sold 158,250 shares of Pacific Gas & Electric stock in a transaction on Wednesday, July 22nd. The stock was sold at an average price of $18.00, for a total transaction of $2,848,500.00. Following the completion of the sale, the executive vice president directly owned 230,885 shares of the company’s stock, valued at $4,155,930. The trade was a 40.67% 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. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 0.22% of the stock is owned by corporate insiders.

Pacific Gas & Electric Trading Down 1.7%

PCG opened at $17.54 on Tuesday. The firm has a 50 day simple moving average of $17.19 and a 200 day simple moving average of $17.21. Pacific Gas & Electric Co. has a fifty-two week low of $14.30 and a fifty-two week high of $19.16. The company has a market cap of $47.01 billion, a price-to-earnings ratio of 12.71, a price-to-earnings-growth ratio of 1.16 and a beta of 0.28. The company has a debt-to-equity ratio of 1.90, a current ratio of 1.22 and a quick ratio of 1.15.

Pacific Gas & Electric (NYSE:PCG) last announced its quarterly earnings data on Thursday, July 23rd. The utilities provider reported $0.40 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.36 by $0.04. Pacific Gas & Electric had a net margin of 12.25% and a return on equity of 12.48%. The firm had revenue of $5.90 billion for the quarter, compared to analysts’ expectations of $6.20 billion. During the same period last year, the firm earned $0.31 earnings per share. The business’s revenue for the quarter was up .1% on a year-over-year basis. Pacific Gas & Electric has set its FY 2026 guidance at 1.640-1.660 EPS. On average, sell-side 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 declared a quarterly dividend, which was paid on Wednesday, July 15th. Stockholders of record on Tuesday, June 30th were given a $0.05 dividend. This represents a $0.20 annualized dividend and a dividend yield of 1.1%. The ex-dividend date was Tuesday, June 30th. Pacific Gas & Electric’s dividend payout ratio (DPR) is currently 14.49%.

Analysts Set New Price Targets

Several research analysts have issued reports on the company. Morgan Stanley set a $22.00 price objective on Pacific Gas & Electric in a report on Thursday, May 21st. Truist Financial lowered their target price on Pacific Gas & Electric from $23.00 to $21.00 and set a “buy” rating for the company in a research note on Tuesday, August 4th. Weiss Ratings downgraded Pacific Gas & Electric from a “hold (c+)” rating to a “hold (c)” rating in a research report on Thursday, June 4th. BMO Capital Markets cut their price target on Pacific Gas & Electric from $28.00 to $27.00 and set an “outperform” rating on the stock in a research note on Friday, July 24th. Finally, Wells Fargo & Company reiterated an “overweight” rating and issued a $25.00 price target 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, two have assigned a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $22.20.

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.