Canada Pension Plan Investment Board Takes $320.82 Million Position in Pacific Gas & Electric Co. $PCG

Canada Pension Plan Investment Board 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 filing with the Securities & Exchange Commission. The firm acquired 19,073,716 shares of the utilities provider’s stock, valued at approximately $320,820,000. Canada Pension Plan Investment Board owned 0.71% of Pacific Gas & Electric at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. CoreCap Advisors LLC boosted its stake in Pacific Gas & Electric by 13.1% during the 2nd quarter. CoreCap Advisors LLC now owns 5,843 shares of the utilities provider’s stock valued at $98,000 after purchasing an additional 677 shares in the last quarter. Fifth Third Wealth Advisors LLC raised its stake in shares of 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 buying an additional 885 shares in the last quarter. Versant Capital Management Inc raised its stake in shares of Pacific Gas & Electric by 19.6% in the 2nd quarter. Versant Capital Management Inc now owns 6,636 shares of the utilities provider’s stock worth $112,000 after buying an additional 1,088 shares in the last quarter. Commerzbank Aktiengesellschaft FI raised its stake in shares of Pacific Gas & Electric by 2.7% in the 4th quarter. Commerzbank Aktiengesellschaft FI now owns 42,734 shares of the utilities provider’s stock worth $687,000 after buying an additional 1,142 shares in the last quarter. Finally, Keating Financial Advisory Services Inc. acquired a new stake in shares of Pacific Gas & Electric in the second quarter valued at $28,000. Institutional investors own 78.56% of the company’s stock.

Insider Activity

In related news, EVP Marlene Santos sold 158,250 shares of the firm’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 completion of the sale, the executive vice president directly owned 230,885 shares in the company, valued at approximately $4,155,930. This trade represents a 40.67% decrease in their ownership of the stock. The transaction 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. 0.22% of the stock is owned by company insiders.

Pacific Gas & Electric Stock Performance

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

Pacific Gas & Electric (NYSE:PCG) last announced its quarterly earnings data on Thursday, July 23rd. The utilities provider reported $0.40 earnings per share (EPS) for the quarter, topping the consensus estimate 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 the consensus estimate of $6.20 billion. During the same period in the prior year, the business earned $0.31 EPS. The business’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. On average, sell-side analysts predict that Pacific Gas & Electric Co. will post 1.65 earnings per share for the current fiscal year.

Analyst Ratings Changes

PCG has been the topic of a number of recent research reports. UBS Group restated a “buy” rating on shares of Pacific Gas & Electric in a report on Tuesday, August 18th. JPMorgan Chase & Co. reduced their target price 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. Truist Financial decreased their price target 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. BMO Capital Markets dropped their price target 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, Wall Street Zen downgraded Pacific Gas & Electric from a “buy” rating to a “hold” rating in a report on Saturday, July 25th. Seven equities research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company’s stock. According to data from MarketBeat, the company 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.