Cibc World Market Inc. Buys Shares of 237,996 Pacific Gas & Electric Co. $PCG

Cibc World Market Inc. acquired a new stake in Pacific Gas & Electric Co. (NYSE:PCG) in the 2nd quarter, Holdings Channel.com reports. The fund acquired 237,996 shares of the utilities provider’s stock, valued at approximately $4,003,000.

Several other large investors have also recently modified their holdings of the business. Keating Financial Advisory Services Inc. acquired a new position in shares of Pacific Gas & Electric during the second quarter worth $28,000. Tobam bought a new stake in shares of Pacific Gas & Electric in the 4th quarter valued at $30,000. Torren Management LLC acquired a new stake in shares of Pacific Gas & Electric during the fourth quarter worth $33,000. Modus Advisors LLC acquired a new stake in shares of Pacific Gas & Electric during the fourth quarter worth $36,000. Finally, CoreCap Advisors LLC raised 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 worth $98,000 after buying an additional 677 shares during the last quarter. Institutional investors own 78.56% of the company’s stock.

Pacific Gas & Electric Stock Performance

NYSE:PCG opened at $18.25 on Thursday. The company has a fifty day moving average of $17.37 and a 200-day moving average of $17.33. The firm has a market capitalization of $48.91 billion, a P/E ratio of 13.22, a P/E/G ratio of 1.19 and a beta of 0.28. The company has a quick ratio of 1.15, a current ratio of 1.22 and a debt-to-equity ratio of 1.90. Pacific Gas & Electric Co. has a twelve month low of $14.34 and a twelve month high of $19.16.

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

Insider Buying and Selling at Pacific Gas & Electric

In other news, EVP Marlene Santos sold 158,250 shares of the stock in a transaction dated 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 transaction, the executive vice president owned 230,885 shares of the company’s stock, valued at $4,155,930. This represents a 40.67% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Corporate insiders own 0.22% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on the stock. BMO Capital Markets dropped their target price on shares of Pacific Gas & Electric from $28.00 to $27.00 and set an “outperform” rating on the stock in a report on Friday, July 24th. 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 report on Tuesday, August 4th. JPMorgan Chase & Co. lowered their price objective on Pacific Gas & Electric from $24.00 to $23.00 and set an “overweight” rating for the company in a research report on Friday, May 15th. Wall Street Zen downgraded Pacific Gas & Electric from a “buy” rating to a “hold” rating in a research note on Saturday, July 25th. Finally, UBS Group restated a “buy” rating on shares of Pacific Gas & Electric in a research report on Tuesday, August 18th. Seven analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company. According to MarketBeat, Pacific Gas & Electric presently has a consensus rating of “Moderate Buy” and an average target price of $22.20.

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.