Sterling Capital Management LLC Sells 53,739 Shares of Pacific Gas & Electric Co. $PCG

Sterling Capital Management LLC trimmed its stake in shares of Pacific Gas & Electric Co. (NYSE:PCG) by 41.1% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 77,038 shares of the utilities provider’s stock after selling 53,739 shares during the quarter. Sterling Capital Management LLC’s holdings in Pacific Gas & Electric were worth $1,354,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors also recently modified their holdings of the company. Geode Capital Management LLC raised its holdings in shares of Pacific Gas & Electric by 1.9% in the 4th 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. SG Americas Securities LLC boosted its stake in Pacific Gas & Electric by 366.6% in the 1st quarter. SG Americas Securities LLC now owns 2,984,809 shares of the utilities provider’s stock valued at $52,443,000 after buying an additional 2,345,120 shares in the last quarter. Pinebridge Investments LLC acquired a new stake in Pacific Gas & Electric in the 4th quarter valued at $28,967,000. Public Employees Retirement System of Ohio grew its position in Pacific Gas & Electric by 0.6% in the third quarter. Public Employees Retirement System of Ohio now owns 684,942 shares of the utilities provider’s stock valued at $10,329,000 after acquiring an additional 4,248 shares during the period. Finally, Captrust Financial Advisors grew its position in Pacific Gas & Electric by 59.5% in the fourth quarter. Captrust Financial Advisors now owns 468,091 shares of the utilities provider’s stock valued at $7,522,000 after acquiring an additional 174,564 shares during the period. 78.56% of the stock is currently owned by institutional investors.

Pacific Gas & Electric Trading Down 0.8%

PCG stock opened at $17.25 on Tuesday. The business has a fifty day moving average price of $16.61 and a 200 day moving average price of $16.78. The company has a debt-to-equity ratio of 1.88, a current ratio of 1.20 and a quick ratio of 1.13. Pacific Gas & Electric Co. has a fifty-two week low of $12.97 and a fifty-two week high of $19.16. The stock has a market capitalization of $46.22 billion, a price-to-earnings ratio of 13.37, a P/E/G ratio of 0.66 and a beta of 0.27.

Pacific Gas & Electric (NYSE:PCG) last posted its quarterly earnings data on Thursday, April 23rd. The utilities provider reported $0.43 EPS for the quarter, topping analysts’ consensus estimates of $0.39 by $0.04. The company had revenue of $6.88 billion for the quarter, compared to analyst estimates of $6.20 billion. Pacific Gas & Electric had a return on equity of 11.95% and a net margin of 11.44%.The business’s revenue was up 15.0% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.33 earnings per share. Pacific Gas & Electric has set its FY 2026 guidance at 1.640-1.660 EPS. Analysts expect that Pacific Gas & Electric Co. will post 1.65 EPS for the current fiscal year.

Pacific Gas & Electric Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 15th. Shareholders of record on Tuesday, June 30th will be issued a dividend of $0.05 per share. The ex-dividend date of this dividend is Tuesday, June 30th. This represents a $0.20 dividend on an annualized basis and a yield of 1.2%. Pacific Gas & Electric’s dividend payout ratio is currently 15.50%.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on PCG. Morgan Stanley set a $22.00 price objective on Pacific Gas & Electric in a report on Thursday, May 21st. Wells Fargo & Company reaffirmed an “overweight” rating and issued a $25.00 target price on shares of Pacific Gas & Electric in a report on Tuesday, April 21st. UBS Group upgraded shares of Pacific Gas & Electric from a “neutral” rating to a “buy” rating in a research report on Monday, March 9th. Truist Financial cut their price target on shares of Pacific Gas & Electric from $23.00 to $22.00 and set a “buy” rating for the company in a report on Monday, May 18th. Finally, JPMorgan Chase & Co. reduced their price target on shares of Pacific Gas & Electric from $24.00 to $23.00 and set an “overweight” rating on the stock in a research report on Friday, May 15th. Seven equities research analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $22.10.

Insider Buying and Selling

In other Pacific Gas & Electric news, EVP Jason M. Glickman sold 47,264 shares of the firm’s stock in a transaction dated Tuesday, April 28th. The shares were sold at an average price of $16.35, for a total value of $772,766.40. Following the completion of the sale, the executive vice president owned 136,433 shares in the company, valued at approximately $2,230,679.55. This trade represents a 25.73% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 0.22% of the stock is currently owned by corporate insiders.

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.