Freestone Grove Partners LP Takes $18.09 Million Position in Pacific Gas & Electric Co. $PCG

Freestone Grove Partners LP purchased a new position in shares of Pacific Gas & Electric Co. (NYSE:PCG) in the second quarter, Holdings Channel.com reports. The institutional investor purchased 1,075,793 shares of the utilities provider’s stock, valued at approximately $18,095,000.

Several other institutional investors have also recently added to or reduced their stakes in PCG. Gallagher Fiduciary Advisors LLC bought a new position in Pacific Gas & Electric during the 2nd quarter valued at $300,895,000. Legal & General Group Plc acquired a new stake in shares of Pacific Gas & Electric in the 2nd quarter valued at about $398,915,000. Canada Pension Plan Investment Board acquired a new stake in shares of Pacific Gas & Electric in the 2nd quarter valued at about $320,820,000. Barrow Hanley Mewhinney & Strauss LLC bought a new position in shares of Pacific Gas & Electric during the second quarter worth about $314,855,000. Finally, Man Group plc acquired a new position in Pacific Gas & Electric in the second quarter worth about $188,513,000. 78.56% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In related 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 transaction of $2,848,500.00. Following the completion of the transaction, 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 position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available 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.

Wall Street Analyst Weigh In

Several analysts have issued reports on PCG shares. Truist Financial cut their price objective 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. Weiss Ratings lowered Pacific Gas & Electric from a “hold (c+)” rating to a “hold (c)” rating in a research report on Thursday, June 4th. JPMorgan Chase & Co. lowered their price target on Pacific Gas & Electric from $24.00 to $23.00 and set an “overweight” rating for the company in a report on Friday, May 15th. BMO Capital Markets reduced their price objective on Pacific Gas & Electric from $28.00 to $27.00 and set an “outperform” rating on the stock in a research note on Friday, July 24th. Finally, UBS Group reaffirmed a “buy” rating on shares of Pacific Gas & Electric in a report on Tuesday, August 18th. Seven analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the stock. According to MarketBeat, Pacific Gas & Electric currently has an average rating of “Moderate Buy” and an average price target of $22.20.

Pacific Gas & Electric Stock Performance

Shares of NYSE PCG opened at $17.95 on Friday. 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 firm’s 50-day moving average price is $17.40 and its two-hundred day moving average price is $17.34. Pacific Gas & Electric Co. has a 52-week low of $14.34 and a 52-week high of $19.16. The stock has a market capitalization of $48.09 billion, a P/E ratio of 13.00, a P/E/G ratio of 1.19 and a beta of 0.28.

Pacific Gas & Electric (NYSE:PCG) last posted its earnings results 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 company had revenue of $5.90 billion during the quarter, compared to analyst estimates 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 revenue was up .1% compared to the same quarter last year. During the same period in the prior year, the company earned $0.31 earnings per share. Pacific Gas & Electric has set its FY 2026 guidance at 1.640-1.660 EPS. As a group, sell-side analysts forecast that Pacific Gas & Electric Co. will post 1.65 earnings per share for the current 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.