Canada Pension Plan Investment Board Invests $320.82 Million in Pacific Gas & Electric Co. $PCG

Canada Pension Plan Investment Board acquired a new position in shares of Pacific Gas & Electric Co. (NYSE:PCG) in the 2nd quarter, HoldingsChannel reports. The institutional investor acquired 19,073,716 shares of the utilities provider’s stock, valued at approximately $320,820,000.

Other institutional investors have also recently bought and sold shares of the company. Keating Financial Advisory Services Inc. purchased a new position in Pacific Gas & Electric in the second quarter valued at about $28,000. Tobam purchased a new stake in shares of Pacific Gas & Electric during the 4th quarter worth about $30,000. Torren Management LLC purchased a new stake in shares of Pacific Gas & Electric during the 4th quarter worth about $33,000. Modus Advisors LLC acquired a new stake in shares of Pacific Gas & Electric during the 4th quarter valued at about $36,000. Finally, CoreCap Advisors LLC lifted its holdings in shares of Pacific Gas & Electric by 13.1% during the 2nd quarter. CoreCap Advisors LLC now owns 5,843 shares of the utilities provider’s stock valued at $98,000 after buying an additional 677 shares during the last quarter. Institutional investors and hedge funds own 78.56% of the company’s stock.

Analyst Ratings Changes

PCG has been the subject of several recent research reports. Weiss Ratings cut Pacific Gas & Electric from a “hold (c+)” rating to a “hold (c)” rating in a research note on Thursday, June 4th. Morgan Stanley reduced their target price on shares of Pacific Gas & Electric from $23.00 to $22.00 and set an “equal weight” rating for the company in a research note on Friday, August 21st. JPMorgan Chase & Co. decreased their target price on shares of Pacific Gas & Electric from $24.00 to $23.00 and set an “overweight” rating for the company in a research report on Friday, May 15th. BMO Capital Markets dropped their price target on shares of 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. Finally, Truist Financial cut their price target on shares of Pacific Gas & Electric from $23.00 to $21.00 and set a “buy” rating on the stock in a report on Tuesday, August 4th. Seven research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $22.20.

Insider Activity

In related news, EVP Marlene Santos sold 158,250 shares of the firm’s 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 transaction, the executive vice president directly owned 230,885 shares in the company, valued at approximately $4,155,930. This trade represents a 40.67% decrease in their position. The transaction was disclosed in a filing with the SEC, 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.

Pacific Gas & Electric Stock Up 1.2%

Shares of PCG stock opened at $18.33 on Wednesday. The stock’s 50 day simple moving average is $17.34 and its 200 day simple moving average is $17.31. Pacific Gas & Electric Co. has a twelve month low of $14.34 and a twelve month high of $19.16. The company has a debt-to-equity ratio of 1.90, a quick ratio of 1.15 and a current ratio of 1.22. The company 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 announced its earnings results on Thursday, July 23rd. The utilities provider reported $0.40 earnings per share (EPS) 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 analysts’ expectations of $6.20 billion. During the same quarter in the prior year, the business earned $0.31 earnings per share. The company’s 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. As a group, research analysts predict that Pacific Gas & Electric Co. will post 1.65 EPS for the current year.

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.