Man Group plc Invests $188.51 Million in Pacific Gas & Electric Co. $PCG

Man Group plc acquired a new position in shares of Pacific Gas & Electric Co. (NYSE:PCG) in the 2nd quarter, according to its most recent Form 13F filing with the SEC. The firm acquired 11,207,670 shares of the utilities provider’s stock, valued at approximately $188,513,000.

A number of other hedge funds have also modified their holdings of PCG. Keating Financial Advisory Services Inc. acquired a new position in shares of Pacific Gas & Electric in the 2nd quarter valued at $28,000. Tobam purchased a new position in Pacific Gas & Electric in the 4th quarter worth about $30,000. Torren Management LLC acquired a new stake in Pacific Gas & Electric during the 4th quarter worth about $33,000. Modus Advisors LLC acquired a new stake in Pacific Gas & Electric during the 4th quarter worth about $36,000. Finally, CoreCap Advisors LLC lifted its stake in Pacific Gas & Electric by 13.1% during the second 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 in the last quarter. 78.56% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several research analysts have commented on PCG shares. UBS Group reiterated a “buy” rating on shares of Pacific Gas & Electric in a report on Tuesday, August 18th. Morgan Stanley cut 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. BMO Capital Markets reduced their price target on shares of 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 lowered shares of Pacific Gas & Electric from a “buy” rating to a “hold” rating in a research note on Saturday, July 25th. Finally, JPMorgan Chase & Co. lowered their price objective on shares of 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. Seven equities research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company. According to data from MarketBeat.com, Pacific Gas & Electric has a consensus rating of “Moderate Buy” and an average target price of $22.20.

Pacific Gas & Electric Stock Up 1.2%

NYSE:PCG opened at $18.33 on Wednesday. The business’s fifty day moving average price is $17.34 and its 200 day moving average price is $17.31. The firm has a market capitalization of $49.12 billion, a price-to-earnings ratio of 13.28, a PEG ratio of 1.18 and a beta of 0.28. The company has a current ratio of 1.22, a quick ratio of 1.15 and a debt-to-equity ratio of 1.90. Pacific Gas & Electric Co. has a 1-year low of $14.34 and a 1-year high of $19.16.

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, topping 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 during the quarter, compared to analyst estimates of $6.20 billion. During the same period last year, the company posted $0.31 EPS. The business’s quarterly 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. On average, sell-side analysts forecast that Pacific Gas & Electric Co. will post 1.65 earnings per share for the current fiscal year.

Insider Activity

In other news, EVP Marlene Santos sold 158,250 shares of the 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 of the company’s stock, valued at $4,155,930. This represents a 40.67% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 0.22% of the stock is owned by company insiders.

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.