Northern Trust Corp Raises Stock Position in Pacific Gas & Electric Co. $PCG

Northern Trust Corp boosted its holdings in shares of Pacific Gas & Electric Co. (NYSE:PCG) by 4.3% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 19,944,322 shares of the utilities provider’s stock after purchasing an additional 818,377 shares during the period. Northern Trust Corp owned about 0.75% of Pacific Gas & Electric worth $342,643,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Vanguard Group Inc. raised its stake in shares of Pacific Gas & Electric by 1.2% during the 1st quarter. Vanguard Group Inc. now owns 257,285,352 shares of the utilities provider’s stock valued at $4,420,162,000 after buying an additional 2,926,384 shares during the last quarter. BROOKFIELD Corp ON grew its holdings in Pacific Gas & Electric by 16.2% during the fourth quarter. BROOKFIELD Corp ON now owns 14,692,444 shares of the utilities provider’s stock worth $296,494,000 after acquiring an additional 2,049,359 shares during the period. Charles Schwab Investment Management Inc. raised its position in Pacific Gas & Electric by 5.9% during the first quarter. Charles Schwab Investment Management Inc. now owns 12,882,526 shares of the utilities provider’s stock valued at $221,322,000 after acquiring an additional 720,500 shares in the last quarter. Zimmer Partners LP lifted its holdings in Pacific Gas & Electric by 84.9% in the fourth quarter. Zimmer Partners LP now owns 12,661,324 shares of the utilities provider’s stock valued at $255,506,000 after acquiring an additional 5,814,624 shares during the period. Finally, Adage Capital Partners GP L.L.C. lifted its holdings in Pacific Gas & Electric by 27.1% in the fourth quarter. Adage Capital Partners GP L.L.C. now owns 8,817,600 shares of the utilities provider’s stock valued at $177,939,000 after acquiring an additional 1,877,800 shares during the period. 78.56% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently commented on PCG shares. Morgan Stanley set a $18.00 price objective on shares of Pacific Gas & Electric and gave the stock an “underweight” rating in a research note on Thursday, May 22nd. Zacks Research upgraded shares of Pacific Gas & Electric from a “strong sell” rating to a “hold” rating in a research report on Monday. Barclays cut their price objective on shares of Pacific Gas & Electric from $22.00 to $20.00 and set an “overweight” rating for the company in a report on Tuesday, July 22nd. Mizuho increased their target price on shares of Pacific Gas & Electric from $20.00 to $21.00 and gave the stock an “outperform” rating in a research note on Monday, May 19th. Finally, Guggenheim raised their target price on Pacific Gas & Electric from $16.00 to $17.00 and gave the company a “neutral” rating in a research report on Friday, April 25th. Seven research analysts have rated the stock with a Buy rating, five have given a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, Pacific Gas & Electric currently has a consensus rating of “Hold” and an average price target of $20.55.

Pacific Gas & Electric Price Performance

Shares of NYSE PCG opened at $15.3850 on Thursday. The company has a debt-to-equity ratio of 1.81, a quick ratio of 0.89 and a current ratio of 0.94. The firm has a fifty day moving average of $14.15 and a 200 day moving average of $15.73. The firm has a market cap of $41.16 billion, a PE ratio of 14.11, a PEG ratio of 1.16 and a beta of 0.54. Pacific Gas & Electric Co. has a one year low of $12.97 and a one year high of $21.72.

Pacific Gas & Electric (NYSE:PCG) last posted its quarterly earnings data on Thursday, July 31st. The utilities provider reported $0.31 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.33 by ($0.02). The company had revenue of $5.90 billion for the quarter, compared to analysts’ expectations of $6.37 billion. Pacific Gas & Electric had a net margin of 9.95% and a return on equity of 10.13%. The business’s revenue for the quarter was down 1.5% on a year-over-year basis. During the same period in the previous year, the business earned $0.31 earnings per share. Pacific Gas & Electric has set its FY 2025 guidance at 1.480-1.520 EPS. As a group, research analysts predict that Pacific Gas & Electric Co. will post 1.49 EPS for the current fiscal year.

Pacific Gas & Electric Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, July 15th. Shareholders of record on Monday, June 30th were paid a dividend of $0.025 per share. This represents a $0.10 annualized dividend and a yield of 0.6%. The ex-dividend date was Monday, June 30th. Pacific Gas & Electric’s payout ratio is 9.17%.

Pacific Gas & Electric Profile

PG&E Corp. operates as a holding company, which engages in generation, transmission, and distribution of electricity and natural gas to customers. It specializes in energy, utility, power, gas, electricity, solar and sustainability. The company was founded in 1995 and is headquartered in Oakland, CA.