Proficio Capital Partners LLC Buys New Position in Pacific Gas & Electric Co. $PCG

Proficio Capital Partners LLC bought a new stake in Pacific Gas & Electric Co. (NYSE:PCG) during the second quarter, according to its most recent 13F filing with the SEC. The institutional investor bought 37,017 shares of the utilities provider’s stock, valued at approximately $623,000.

Other hedge funds also recently modified their holdings of the company. Geode Capital Management LLC grew its holdings in shares of Pacific Gas & Electric by 1.9% during 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 buying an additional 1,132,249 shares in the last quarter. Gallagher Fiduciary Advisors LLC purchased a new position in shares of Pacific Gas & Electric during the second quarter valued at approximately $300,895,000. Legal & General Group Plc purchased a new position in shares of Pacific Gas & Electric during the second quarter valued at approximately $398,915,000. Canada Pension Plan Investment Board acquired a new stake in Pacific Gas & Electric during the second quarter worth approximately $320,820,000. Finally, Barrow Hanley Mewhinney & Strauss LLC acquired a new stake in Pacific Gas & Electric during the second quarter worth approximately $314,855,000. 78.56% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

PCG has been the subject of several recent analyst reports. JPMorgan Chase & Co. lowered their target price on shares of Pacific Gas & Electric from $24.00 to $23.00 and set an “overweight” rating for the company in a research note on Friday, May 15th. Weiss Ratings lowered Pacific Gas & Electric from a “hold (c+)” rating to a “hold (c)” rating in a research note on Thursday, June 4th. Morgan Stanley decreased their price objective on 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. Truist Financial lowered their price objective on Pacific Gas & Electric from $23.00 to $21.00 and set a “buy” rating for the company in a research report on Tuesday, August 4th. Finally, BMO Capital Markets dropped their target price on 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. Seven research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the stock. Based on data from MarketBeat.com, Pacific Gas & Electric has a consensus rating of “Moderate Buy” and a consensus target price of $22.20.

Pacific Gas & Electric Stock Performance

Shares of PCG stock opened at $17.95 on Friday. 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 $48.09 billion, a price-to-earnings ratio of 13.00, a price-to-earnings-growth ratio of 1.19 and a beta of 0.28. Pacific Gas & Electric Co. has a one year low of $14.34 and a one year high of $19.16. The company has a 50 day moving average price of $17.40 and a 200 day moving average price of $17.34.

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

Insiders Place Their Bets

In other Pacific Gas & Electric news, EVP Marlene Santos sold 158,250 shares of the business’s stock in a transaction dated 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 sale, the executive vice president owned 230,885 shares of the company’s stock, valued at approximately $4,155,930. The trade was a 40.67% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders own 0.22% of the company’s stock.

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.