Evolve Private Wealth LLC Buys Shares of 140,496 Pacific Gas & Electric Co. $PCG

Evolve Private Wealth LLC purchased a new stake in shares of Pacific Gas & Electric Co. (NYSE:PCG) during the second quarter, Holdings Channel reports. The fund purchased 140,496 shares of the utilities provider’s stock, valued at approximately $2,370,000.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Westpac Banking Corp bought a new position in Pacific Gas & Electric in the 2nd quarter valued at approximately $1,733,000. Landscape Capital Management L.L.C. bought a new stake in Pacific Gas & Electric during the 2nd quarter worth approximately $1,330,000. Korea Investment CORP bought a new stake in Pacific Gas & Electric during the 2nd quarter worth approximately $38,824,000. EP Wealth Advisors LLC acquired a new position in Pacific Gas & Electric in the 2nd quarter valued at approximately $1,271,000. Finally, Ieq Capital LLC bought a new position in shares of Pacific Gas & Electric during the second quarter valued at $72,739,000. Institutional investors and hedge funds own 78.56% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms recently weighed in on PCG. UBS Group restated a “buy” rating on shares of Pacific Gas & Electric in a report on Tuesday. Wall Street Zen cut Pacific Gas & Electric from a “buy” rating to a “hold” rating in a research note on Saturday, July 25th. Truist Financial lowered their price objective 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. Morgan Stanley cut their price objective on Pacific Gas & Electric from $23.00 to $22.00 and set an “equal weight” rating on the stock in a research note on Friday. Finally, BMO Capital Markets decreased their target price 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. Seven equities research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company. According to data from MarketBeat, Pacific Gas & Electric has an average rating of “Moderate Buy” and a consensus price target of $22.20.

Insider Activity at Pacific Gas & Electric

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 stock was 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 owned 230,885 shares of the company’s stock, valued at $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 is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 0.22% of the stock is currently owned by insiders.

Pacific Gas & Electric Price Performance

PCG stock opened at $17.60 on Friday. 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 firm has a market cap of $47.17 billion, a price-to-earnings ratio of 12.75, a PEG ratio of 1.14 and a beta of 0.28. The company’s fifty day simple moving average is $17.28 and its 200 day simple moving average is $17.27. Pacific Gas & Electric Co. has a 12-month low of $14.34 and a 12-month high of $19.16.

Pacific Gas & Electric (NYSE:PCG) last issued its quarterly earnings results on Thursday, July 23rd. The utilities provider reported $0.40 earnings per share for the quarter, topping analysts’ consensus estimates 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 last year, the business posted $0.31 EPS. The business’s revenue was up .1% compared to the same quarter last year. Pacific Gas & Electric has set its FY 2026 guidance at 1.640-1.660 EPS. On average, analysts expect that Pacific Gas & Electric Co. will post 1.65 earnings per share 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.