71,309 Shares in Pacific Gas & Electric Co. $PCG Bought by Daiichi Life Insurance Co. Ltd.

Daiichi Life Insurance Co. Ltd. bought a new stake in shares of Pacific Gas & Electric Co. (NYSE:PCG) in the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund bought 71,309 shares of the utilities provider’s stock, valued at approximately $1,199,000.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the business. Keating Financial Advisory Services Inc. purchased a new stake in Pacific Gas & Electric in the second quarter valued at $28,000. Tobam purchased a new position in shares of Pacific Gas & Electric during the 4th quarter valued at about $30,000. Torren Management LLC purchased a new position in shares of Pacific Gas & Electric during the 4th quarter valued at about $33,000. Modus Advisors LLC acquired a new position in shares of Pacific Gas & Electric in the 4th quarter valued at about $36,000. Finally, CoreCap Advisors LLC lifted its holdings in shares of Pacific Gas & Electric by 13.1% in the 2nd quarter. CoreCap Advisors LLC now owns 5,843 shares of the utilities provider’s stock valued at $98,000 after buying an additional 677 shares during the period. 78.56% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of analysts have recently commented on PCG shares. Truist Financial lowered their target price on Pacific Gas & Electric from $23.00 to $21.00 and set a “buy” rating on the stock in a research note on Tuesday, August 4th. BMO Capital Markets reduced their price target on Pacific Gas & Electric from $28.00 to $27.00 and set an “outperform” rating for the company in a research report on Friday, July 24th. Wall Street Zen downgraded Pacific Gas & Electric from a “buy” rating to a “hold” rating in a report on Saturday, July 25th. Weiss Ratings lowered Pacific Gas & Electric from a “hold (c+)” rating to a “hold (c)” rating in a research report on Thursday, June 4th. Finally, Morgan Stanley dropped their price objective on shares of Pacific Gas & Electric from $23.00 to $22.00 and set an “equal weight” rating on the stock in a research note on Friday. Seven analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $22.20.

Insider Transactions at Pacific Gas & Electric

In other Pacific Gas & Electric news, EVP Marlene Santos sold 158,250 shares of the stock in a transaction on Wednesday, July 22nd. The shares were sold at an average price of $18.00, for a total transaction of $2,848,500.00. Following the transaction, the executive vice president directly owned 230,885 shares of the company’s stock, valued at $4,155,930. This trade represents a 40.67% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 0.22% of the stock is currently owned by insiders.

Pacific Gas & Electric Stock Up 2.8%

Pacific Gas & Electric stock opened at $18.10 on Tuesday. The company has a debt-to-equity ratio of 1.90, a current ratio of 1.22 and a quick ratio of 1.15. The stock has a market capitalization of $48.50 billion, a PE ratio of 13.11, a price-to-earnings-growth ratio of 1.14 and a beta of 0.28. The business has a 50 day simple moving average of $17.31 and a 200-day simple moving average of $17.30. Pacific Gas & Electric Co. has a 12 month low of $14.34 and a 12 month high of $19.16.

Pacific Gas & Electric (NYSE:PCG) last announced its earnings results 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 return on equity of 12.48% and a net margin of 12.25%.The firm had revenue of $5.90 billion for the quarter, compared to analyst estimates of $6.20 billion. During the same quarter last year, the firm posted $0.31 EPS. The business’s revenue 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, analysts anticipate that Pacific Gas & Electric Co. will post 1.65 EPS for the current fiscal year.

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.