Commerce Bank Takes $894,000 Position in Pacific Gas & Electric Co. $PCG

Commerce Bank bought a new stake in Pacific Gas & Electric Co. (NYSE:PCG) in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm bought 53,145 shares of the utilities provider’s stock, valued at approximately $894,000.

A number of other institutional investors have also added to or reduced their stakes in PCG. Keating Financial Advisory Services Inc. bought a new position in Pacific Gas & Electric during the second quarter valued at about $28,000. Tobam bought a new stake in shares of Pacific Gas & Electric in the 4th quarter worth approximately $30,000. Torren Management LLC bought a new stake in shares of Pacific Gas & Electric in the 4th quarter worth approximately $33,000. Modus Advisors LLC acquired a new stake in shares of Pacific Gas & Electric during the 4th quarter worth approximately $36,000. Finally, CoreCap Advisors LLC grew its holdings in shares of 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 purchasing an additional 677 shares in the last quarter. 78.56% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of analysts have recently issued reports on the company. Truist Financial lowered their price objective on 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 reaffirmed a “buy” rating on shares of Pacific Gas & Electric in a research report on Tuesday, August 18th. JPMorgan Chase & Co. decreased their price target on shares of Pacific Gas & Electric from $24.00 to $23.00 and set an “overweight” rating on the stock in a research note on Friday, May 15th. BMO Capital Markets lowered their price target on shares of Pacific Gas & Electric from $28.00 to $27.00 and set an “outperform” rating on the stock in a report on Friday, July 24th. Finally, Morgan Stanley lowered their price target on shares of Pacific Gas & Electric from $23.00 to $22.00 and set an “equal weight” rating on the stock in a report on Friday, August 21st. Seven equities research analysts have rated the stock with a Buy rating and three have given a Hold rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $22.20.

Insider Buying and Selling

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

Pacific Gas & Electric Stock Down 0.6%

Shares of PCG opened at $18.25 on Thursday. The company has a quick ratio of 1.15, a current ratio of 1.22 and a debt-to-equity ratio of 1.90. The company has a 50-day moving average price of $17.37 and a two-hundred day moving average price of $17.33. The stock has a market cap of $48.91 billion, a price-to-earnings ratio of 13.22, a P/E/G ratio of 1.19 and a beta of 0.28. 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 released its quarterly earnings data on Thursday, July 23rd. The utilities provider reported $0.40 earnings per share for the quarter, beating the consensus estimate 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 company had revenue of $5.90 billion for the quarter, compared to analyst estimates of $6.20 billion. During the same period in the prior year, the company posted $0.31 EPS. The company’s revenue was up .1% compared to the same quarter last year. Pacific Gas & Electric has set its FY 2026 guidance at 1.640-1.660 EPS. Equities analysts predict that Pacific Gas & Electric Co. will post 1.65 EPS for the current fiscal year.

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.