Mediolanum International Funds Ltd Sells 216,080 Shares of Pacific Gas & Electric Co. $PCG

Mediolanum International Funds Ltd trimmed its stake in shares of Pacific Gas & Electric Co. (NYSE:PCG) by 21.3% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 800,178 shares of the utilities provider’s stock after selling 216,080 shares during the period. Mediolanum International Funds Ltd’s holdings in Pacific Gas & Electric were worth $13,987,000 at the end of the most recent reporting period.

Several other hedge funds have also modified their holdings of PCG. DGS Capital Management LLC acquired a new position in Pacific Gas & Electric during the 1st quarter worth $246,000. Hunter Associates Investment Management LLC acquired a new stake in shares of Pacific Gas & Electric in the 1st quarter valued at $383,000. Harrison Street Private Wealth LLC bought a new stake in shares of Pacific Gas & Electric during the first quarter worth $3,643,000. Root Financial Partners LLC raised its position in shares of Pacific Gas & Electric by 697.7% during the first quarter. Root Financial Partners LLC now owns 15,467 shares of the utilities provider’s stock worth $272,000 after acquiring an additional 13,528 shares during the last quarter. Finally, Pinnacle Wealth Management Advisory Group LLC lifted its stake in shares of Pacific Gas & Electric by 7.9% during the first quarter. Pinnacle Wealth Management Advisory Group LLC now owns 46,059 shares of the utilities provider’s stock valued at $809,000 after acquiring an additional 3,363 shares during the period. 78.56% of the stock is owned by institutional investors.

Pacific Gas & Electric Stock Down 0.0%

Shares of NYSE:PCG opened at $17.32 on Monday. Pacific Gas & Electric Co. has a 52 week low of $13.30 and a 52 week high of $19.16. The company has a debt-to-equity ratio of 1.88, a quick ratio of 1.13 and a current ratio of 1.20. The company has a market capitalization of $46.40 billion, a PE ratio of 13.42, a PEG ratio of 1.13 and a beta of 0.27. The company has a 50 day moving average price of $16.76 and a two-hundred day moving average price of $16.93.

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

Pacific Gas & Electric Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Wednesday, July 15th. Stockholders of record on Tuesday, June 30th were given a dividend of $0.05 per share. The ex-dividend date of this dividend was Tuesday, June 30th. This represents a $0.20 dividend on an annualized basis and a dividend yield of 1.2%. Pacific Gas & Electric’s dividend payout ratio (DPR) is currently 15.50%.

Wall Street Analyst Weigh In

PCG has been the topic of several recent research reports. Jefferies Financial Group reiterated a “hold” rating and issued a $19.00 price target (down from $20.00) on shares of Pacific Gas & Electric in a report on Monday, March 23rd. Wells Fargo & Company reissued an “overweight” rating and set a $25.00 price objective on shares of Pacific Gas & Electric in a report on Tuesday, April 21st. Morgan Stanley set a $22.00 target price on shares of Pacific Gas & Electric in a research report on Thursday, May 21st. JPMorgan Chase & Co. reduced their target price on shares of Pacific Gas & Electric from $24.00 to $23.00 and set an “overweight” rating on the stock in a research note on Friday, May 15th. Finally, Wall Street Zen upgraded shares of Pacific Gas & Electric from a “hold” rating to a “buy” rating in a research report on Saturday, June 13th. Seven investment analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $22.10.

Insider Activity at Pacific Gas & Electric

In other news, EVP Jason M. Glickman sold 47,264 shares of Pacific Gas & Electric stock in a transaction dated Tuesday, April 28th. The stock was sold at an average price of $16.35, for a total transaction of $772,766.40. Following the transaction, the executive vice president owned 136,433 shares in the company, valued at $2,230,679.55. The trade was a 25.73% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. 0.22% of the stock is currently owned by corporate insiders.

Pacific Gas & Electric 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.