103,022 Shares in Pacific Gas & Electric Co. $PCG Bought by Westpac Banking Corp

Westpac Banking Corp acquired a new stake in shares of Pacific Gas & Electric Co. (NYSE:PCG) during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm acquired 103,022 shares of the utilities provider’s stock, valued at approximately $1,733,000.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Geode Capital Management LLC raised its holdings in Pacific Gas & Electric by 1.9% in the fourth quarter. Geode Capital Management LLC now owns 62,134,132 shares of the utilities provider’s stock worth $1,019,297,000 after purchasing an additional 1,132,249 shares in the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. purchased a new stake in shares of Pacific Gas & Electric during the second quarter valued at about $90,898,000. Danica Pension Livsforsikringsaktieselskab bought a new stake in shares of Pacific Gas & Electric in the 2nd quarter valued at about $76,721,000. Ieq Capital LLC bought a new stake in shares of Pacific Gas & Electric in the 2nd quarter valued at about $72,739,000. Finally, SG Americas Securities LLC boosted its holdings in shares of Pacific Gas & Electric by 366.6% in the 1st quarter. SG Americas Securities LLC now owns 2,984,809 shares of the utilities provider’s stock valued at $52,443,000 after buying an additional 2,345,120 shares in the last quarter. Hedge funds and other institutional investors own 78.56% of the company’s stock.

Pacific Gas & Electric Price Performance

Shares of PCG stock opened at $17.60 on Friday. Pacific Gas & Electric Co. has a fifty-two week low of $14.34 and a fifty-two week high of $19.16. The company has a debt-to-equity ratio of 1.90, a quick ratio of 1.15 and a current ratio of 1.22. The firm has a market capitalization of $47.17 billion, a price-to-earnings ratio of 12.75, a PEG ratio of 1.14 and a beta of 0.28. The stock’s 50-day simple moving average is $17.28 and its 200-day simple moving average is $17.27.

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

Insider Transactions at Pacific Gas & Electric

In other Pacific Gas & Electric news, EVP Marlene Santos sold 158,250 shares of the company’s stock in a transaction that occurred 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 owned 230,885 shares in the company, valued at approximately $4,155,930. This represents a 40.67% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders own 0.22% of the company’s stock.

Wall Street Analysts Forecast Growth

PCG has been the subject of several recent analyst reports. Weiss Ratings lowered shares of Pacific Gas & Electric from a “hold (c+)” rating to a “hold (c)” rating in a research note on Thursday, June 4th. BMO Capital Markets lowered their target price on shares of Pacific Gas & Electric from $28.00 to $27.00 and set an “outperform” rating for the company in a research note on Friday, July 24th. Wall Street Zen lowered shares of Pacific Gas & Electric from a “buy” rating to a “hold” rating in a report on Saturday, July 25th. JPMorgan Chase & Co. reduced their price target on Pacific Gas & Electric from $24.00 to $23.00 and set an “overweight” rating on the stock in a research report on Friday, May 15th. Finally, UBS Group reaffirmed a “buy” rating on shares of Pacific Gas & Electric in a research report on Tuesday. Seven equities research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, Pacific Gas & Electric has an average rating of “Moderate Buy” and a consensus 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.