Pallas Capital Advisors LLC Buys Shares of 218,436 Pacific Gas & Electric Co. $PCG

Pallas Capital Advisors LLC acquired a new position in Pacific Gas & Electric Co. (NYSE:PCG) during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund acquired 218,436 shares of the utilities provider’s stock, valued at approximately $3,674,000.

A number of other institutional investors and hedge funds have also recently modified their holdings of PCG. PFA Pension Forsikringsaktieselskab purchased a new stake in shares of Pacific Gas & Electric during the fourth quarter worth about $1,898,000. Focus Partners Advisor Solutions LLC purchased a new position in shares of Pacific Gas & Electric in the 2nd quarter valued at approximately $4,044,000. Harrison Street Private Wealth LLC purchased a new position in shares of Pacific Gas & Electric in the 1st quarter valued at approximately $3,643,000. Horizon Investments LLC boosted its stake in Pacific Gas & Electric by 69.7% in the 4th quarter. Horizon Investments LLC now owns 164,784 shares of the utilities provider’s stock worth $2,648,000 after purchasing an additional 67,677 shares in the last quarter. Finally, Geode Capital Management LLC grew its position in Pacific Gas & Electric by 1.9% during 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 purchasing an additional 1,132,249 shares during the last quarter. Hedge funds and other institutional investors own 78.56% of the company’s stock.

Insider Activity at Pacific Gas & Electric

In related news, EVP Marlene Santos sold 158,250 shares of Pacific Gas & Electric stock in a transaction on Wednesday, July 22nd. The shares were sold at an average price of $18.00, for a total value of $2,848,500.00. Following the sale, the executive vice president owned 230,885 shares of the company’s stock, valued at approximately $4,155,930. This trade represents a 40.67% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 0.22% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

A number of research analysts have issued reports on the stock. Morgan Stanley set a $22.00 price target on shares of Pacific Gas & Electric in a research note on Thursday, May 21st. Weiss Ratings lowered shares of Pacific Gas & Electric from a “hold (c+)” rating to a “hold (c)” rating in a report on Thursday, June 4th. Wells Fargo & Company reissued an “overweight” rating and issued a $25.00 target price on shares of Pacific Gas & Electric in a research report on Tuesday, April 21st. Truist Financial reduced their target price on Pacific Gas & Electric from $23.00 to $21.00 and set a “buy” rating for the company in a research note on Tuesday, August 4th. Finally, BMO Capital Markets dropped their price target on Pacific Gas & Electric from $28.00 to $27.00 and set an “outperform” rating on the stock in a research note on Friday, July 24th. Seven equities research analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $22.20.

Pacific Gas & Electric Trading Down 1.7%

Shares of Pacific Gas & Electric stock opened at $17.54 on Tuesday. The stock has a market cap of $47.01 billion, a PE ratio of 12.71, a price-to-earnings-growth ratio of 1.16 and a beta of 0.28. The firm has a fifty day moving average price of $17.19 and a 200 day moving average price of $17.21. Pacific Gas & Electric Co. has a 1 year low of $14.30 and a 1 year high of $19.16. The company has a debt-to-equity ratio of 1.90, a current ratio of 1.22 and a quick ratio of 1.15.

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. 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 for the quarter, compared to analyst estimates of $6.20 billion. During the same period last year, the company earned $0.31 earnings per share. Pacific Gas & Electric’s revenue for the quarter 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. Equities research analysts predict 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 disclosed a quarterly dividend, which was paid on Wednesday, July 15th. Stockholders of record on Tuesday, June 30th were given a $0.05 dividend. The ex-dividend date was Tuesday, June 30th. This represents a $0.20 dividend on an annualized basis and a dividend yield of 1.1%. Pacific Gas & Electric’s payout ratio is 14.49%.

Pacific Gas & Electric Company 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.