Mitsubishi UFJ Asset Management Co. Ltd. Makes New Investment in Pacific Gas & Electric Co. $PCG

Mitsubishi UFJ Asset Management Co. Ltd. bought a new stake in shares of Pacific Gas & Electric Co. (NYSE:PCG) during the 2nd quarter, HoldingsChannel.com reports. The firm bought 5,404,162 shares of the utilities provider’s stock, valued at approximately $90,898,000.

A number of other hedge funds also recently modified their holdings of PCG. Focus Partners Advisor Solutions LLC purchased a new position in shares of Pacific Gas & Electric during the second quarter valued at $4,044,000. PFA Pension Forsikringsaktieselskab acquired a new position in Pacific Gas & Electric during the fourth quarter valued at $1,898,000. Harrison Street Private Wealth LLC purchased a new stake in Pacific Gas & Electric in the 1st quarter worth about $3,643,000. Horizon Investments LLC boosted its position in Pacific Gas & Electric by 69.7% during the 4th quarter. Horizon Investments LLC now owns 164,784 shares of the utilities provider’s stock worth $2,648,000 after acquiring an additional 67,677 shares during the period. Finally, Geode Capital Management LLC boosted its position in Pacific Gas & Electric by 1.9% during the 4th quarter. Geode Capital Management LLC now owns 62,134,132 shares of the utilities provider’s stock worth $1,019,297,000 after acquiring an additional 1,132,249 shares during the period. Hedge funds and other institutional investors own 78.56% of the company’s stock.

Pacific Gas & Electric Stock Performance

Shares of PCG stock opened at $17.84 on Wednesday. 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 Co. has a fifty-two week low of $14.30 and a fifty-two week high of $19.16. The stock’s 50-day moving average is $17.22 and its two-hundred day moving average is $17.23. The firm has a market cap of $47.80 billion, a P/E ratio of 12.92, a PEG ratio of 1.16 and a beta of 0.28.

Pacific Gas & Electric (NYSE:PCG) last posted its quarterly earnings results on Thursday, July 23rd. The utilities provider reported $0.40 earnings per share for the quarter, topping analysts’ consensus estimates of $0.36 by $0.04. The company had revenue of $5.90 billion during the quarter, compared to the consensus estimate of $6.20 billion. Pacific Gas & Electric had a return on equity of 12.48% and a net margin of 12.25%.The business’s quarterly revenue was up .1% on a year-over-year basis. During the same period last year, the business earned $0.31 EPS. Pacific Gas & Electric has set its FY 2026 guidance at 1.640-1.660 EPS. Analysts predict that Pacific Gas & Electric Co. will post 1.65 earnings per share for the current fiscal year.

Pacific Gas & Electric Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, July 15th. Investors of record on Tuesday, June 30th were given a dividend of $0.05 per share. This represents a $0.20 annualized dividend and a yield of 1.1%. The ex-dividend date of this dividend was Tuesday, June 30th. Pacific Gas & Electric’s dividend payout ratio (DPR) is presently 14.49%.

Insider Transactions at Pacific Gas & Electric

In other Pacific Gas & Electric news, EVP Marlene Santos sold 158,250 shares of Pacific Gas & Electric stock in a transaction that occurred on Wednesday, July 22nd. The shares were sold at an average price of $18.00, for a total value of $2,848,500.00. Following the completion of the sale, the executive vice president directly owned 230,885 shares in the company, valued at $4,155,930. The trade was a 40.67% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 0.22% of the stock is owned by company insiders.

Analysts Set New Price Targets

A number of equities analysts have recently weighed in on PCG shares. JPMorgan Chase & Co. dropped their target price on Pacific Gas & Electric from $24.00 to $23.00 and set an “overweight” rating on the stock in a report on Friday, May 15th. Wells Fargo & Company restated an “overweight” rating and set a $25.00 price target on shares of Pacific Gas & Electric in a report on Tuesday, April 21st. Truist Financial lowered their price objective on shares of Pacific Gas & Electric from $23.00 to $21.00 and set a “buy” rating on the stock in a research report on Tuesday, August 4th. UBS Group reiterated a “buy” rating on shares of Pacific Gas & Electric in a research note on Tuesday. Finally, Morgan Stanley set a $22.00 target price on shares of Pacific Gas & Electric in a research report on Thursday, May 21st. Seven analysts have rated the stock with a Buy rating, two have given a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price 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.