OVERSEA CHINESE BANKING Corp Ltd Invests $524,000 in Pacific Gas & Electric Co. $PCG

OVERSEA CHINESE BANKING Corp Ltd acquired a new stake in shares of Pacific Gas & Electric Co. (NYSE:PCG) during the second quarter, Holdings Channel reports. The institutional investor acquired 31,125 shares of the utilities provider’s stock, valued at approximately $524,000.

Several other hedge funds have also recently made changes to their positions in the company. Tobam purchased a new position in Pacific Gas & Electric in the 4th quarter worth $30,000. Torren Management LLC purchased a new stake in Pacific Gas & Electric during the 4th quarter valued at about $33,000. Modus Advisors LLC purchased a new stake in Pacific Gas & Electric during the 4th quarter valued at about $36,000. CoreCap Advisors LLC increased its holdings in shares of Pacific Gas & Electric by 13.1% in the second 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 during the period. Finally, Brown Brothers Harriman & Co. increased its holdings in shares of Pacific Gas & Electric by 908.8% in the third quarter. Brown Brothers Harriman & Co. now owns 6,618 shares of the utilities provider’s stock valued at $100,000 after purchasing an additional 5,962 shares during the period. 78.56% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In other 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 sale, the executive vice president owned 230,885 shares of the company’s stock, valued at $4,155,930. This trade represents a 40.67% decrease in their position. The sale 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 Analyst Weigh In

A number of equities research analysts recently commented on the company. Morgan Stanley decreased their target price on Pacific Gas & Electric from $23.00 to $22.00 and set an “equal weight” rating for the company in a report on Friday. BMO Capital Markets reduced their price target on shares of Pacific Gas & Electric from $28.00 to $27.00 and set an “outperform” rating for the company in a research report on Friday, July 24th. Wall Street Zen cut shares of Pacific Gas & Electric from a “buy” rating to a “hold” rating in a research note on Saturday, July 25th. UBS Group reaffirmed a “buy” rating on shares of Pacific Gas & Electric in a report on Tuesday. Finally, JPMorgan Chase & Co. cut their price objective 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. Seven equities research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $22.20.

Pacific Gas & Electric Stock Performance

Shares of PCG stock opened at $17.60 on Friday. Pacific Gas & Electric Co. has a 52-week low of $14.34 and a 52-week high of $19.16. The company has a quick ratio of 1.15, a current ratio of 1.22 and a debt-to-equity ratio of 1.90. The stock has a market cap of $47.17 billion, a PE ratio of 12.75, a price-to-earnings-growth ratio of 1.17 and a beta of 0.28. The business has a 50-day simple moving average of $17.28 and a 200-day simple moving average of $17.27.

Pacific Gas & Electric (NYSE:PCG) last posted its earnings results on Thursday, July 23rd. The utilities provider reported $0.40 EPS for the quarter, topping the consensus estimate of $0.36 by $0.04. The firm 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 revenue for the quarter was up .1% compared to the same quarter last year. During the same period last year, the company earned $0.31 earnings per share. Pacific Gas & Electric has set its FY 2026 guidance at 1.640-1.660 EPS. On average, equities analysts expect that Pacific Gas & Electric Co. will post 1.65 EPS for the current year.

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.