Legal & General Group Plc Invests $398.92 Million in Pacific Gas & Electric Co. $PCG

Legal & General Group Plc purchased a new position in shares of Pacific Gas & Electric Co. (NYSE:PCG) in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm purchased 23,716,734 shares of the utilities provider’s stock, valued at approximately $398,915,000. Legal & General Group Plc owned about 0.88% of Pacific Gas & Electric as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors also recently bought and sold shares of PCG. Focus Partners Advisor Solutions LLC bought a new stake in shares of Pacific Gas & Electric during the second quarter worth $4,044,000. PFA Pension Forsikringsaktieselskab purchased a new position in Pacific Gas & Electric in the 4th quarter worth about $1,898,000. Harrison Street Private Wealth LLC bought a new stake in Pacific Gas & Electric during the 1st quarter valued at about $3,643,000. Horizon Investments LLC boosted its position 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 valued at $2,648,000 after buying an additional 67,677 shares during the period. Finally, Geode Capital Management LLC boosted its position in 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 valued at $1,019,297,000 after buying an additional 1,132,249 shares during the period. Hedge funds and other institutional investors own 78.56% of the company’s stock.

Pacific Gas & Electric Stock Up 1.2%

Pacific Gas & Electric stock opened at $18.33 on Wednesday. Pacific Gas & Electric Co. has a 1-year low of $14.34 and a 1-year high of $19.16. The business has a fifty day moving average price of $17.34 and a 200-day moving average price of $17.31. The company has a debt-to-equity ratio of 1.90, a current ratio of 1.22 and a quick ratio of 1.15. The stock has a market capitalization of $49.12 billion, a price-to-earnings ratio of 13.28, a PEG ratio of 1.18 and a beta of 0.28.

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 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 business had revenue of $5.90 billion during the quarter, compared to the consensus estimate of $6.20 billion. During the same quarter last year, the company earned $0.31 earnings per share. The company’s quarterly revenue was up .1% on a year-over-year basis. Pacific Gas & Electric has set its FY 2026 guidance at 1.640-1.660 EPS. Equities research analysts forecast that Pacific Gas & Electric Co. will post 1.65 EPS for the current fiscal year.

Insider Activity

In other 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 transaction of $2,848,500.00. Following the completion of the sale, the executive vice president directly owned 230,885 shares in the company, valued at approximately $4,155,930. The trade was a 40.67% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Corporate insiders own 0.22% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts recently issued reports on the company. Wall Street Zen cut Pacific Gas & Electric from a “buy” rating to a “hold” rating in a research note on Saturday, July 25th. Morgan Stanley cut their price target 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, August 21st. JPMorgan Chase & Co. decreased their price objective on Pacific Gas & Electric from $24.00 to $23.00 and set an “overweight” rating for the company in a report on Friday, May 15th. Weiss Ratings cut shares of Pacific Gas & Electric from a “hold (c+)” rating to a “hold (c)” rating in a report on Thursday, June 4th. Finally, UBS Group restated a “buy” rating on shares of Pacific Gas & Electric in a report on Tuesday, August 18th. 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.com, the company has an average rating of “Moderate Buy” and a consensus target price of $22.20.

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.