Wealthfront Advisers LLC Takes $2.92 Million Position in Pacific Gas & Electric Co. $PCG

Wealthfront Advisers LLC bought a new position in Pacific Gas & Electric Co. (NYSE:PCG) during the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund bought 173,462 shares of the utilities provider’s stock, valued at approximately $2,918,000.

A number of other hedge funds also recently made changes to their positions in PCG. CoreCap Advisors LLC boosted 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 during the last quarter. Fifth Third Wealth Advisors LLC increased its stake in Pacific Gas & Electric by 5.7% in the 1st quarter. Fifth Third Wealth Advisors LLC now owns 16,368 shares of the utilities provider’s stock worth $288,000 after acquiring an additional 885 shares during the last quarter. Versant Capital Management Inc raised its holdings in shares of Pacific Gas & Electric by 19.6% during the 2nd quarter. Versant Capital Management Inc now owns 6,636 shares of the utilities provider’s stock worth $112,000 after acquiring an additional 1,088 shares in the last quarter. Commerzbank Aktiengesellschaft FI raised its holdings in shares of Pacific Gas & Electric by 2.7% during the 4th quarter. Commerzbank Aktiengesellschaft FI now owns 42,734 shares of the utilities provider’s stock worth $687,000 after acquiring an additional 1,142 shares in the last quarter. Finally, Tobam bought a new position in shares of Pacific Gas & Electric during the 4th quarter valued at approximately $30,000. 78.56% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of research firms recently weighed in on PCG. UBS Group reissued a “buy” rating on shares of Pacific Gas & Electric in a report on Tuesday. Wall Street Zen lowered shares of Pacific Gas & Electric from a “buy” rating to a “hold” rating in a research report on Saturday, July 25th. JPMorgan Chase & Co. dropped their price objective 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 downgraded shares of Pacific Gas & Electric from a “hold (c+)” rating to a “hold (c)” rating in a report on Thursday, June 4th. Finally, Truist Financial decreased their target price on shares of 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. Seven investment analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $22.20.

Insiders Place Their Bets

In other news, EVP Marlene Santos sold 158,250 shares of the stock in a transaction 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 sale, the executive vice president owned 230,885 shares of the company’s stock, valued at approximately $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 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.

Pacific Gas & Electric Price Performance

Shares of Pacific Gas & Electric stock opened at $17.99 on Friday. The stock has a market cap of $48.22 billion, a price-to-earnings ratio of 13.04, a price-to-earnings-growth ratio of 1.15 and a beta of 0.28. 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 stock has a 50 day moving average price of $17.26 and a 200-day moving average price of $17.26. Pacific Gas & Electric Co. has a one year low of $14.30 and a one year high of $19.16.

Pacific Gas & Electric (NYSE:PCG) last released its quarterly earnings results 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. The company had revenue of $5.90 billion for 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%.Pacific Gas & Electric’s quarterly revenue was up .1% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.31 EPS. Pacific Gas & Electric has set its FY 2026 guidance at 1.640-1.660 EPS. Equities analysts expect that Pacific Gas & Electric Co. will post 1.65 EPS for the current 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.