Caisse de depot et placement du Quebec Makes New Investment in Pacific Gas & Electric Co. $PCG

Caisse de depot et placement du Quebec bought a new position in Pacific Gas & Electric Co. (NYSE:PCG) in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm bought 3,521,537 shares of the utilities provider’s stock, valued at approximately $59,232,000. Caisse de depot et placement du Quebec owned approximately 0.13% of Pacific Gas & Electric at the end of the most recent quarter.

A number of other institutional investors have also made changes to their positions in the company. Keating Financial Advisory Services Inc. bought a new position in Pacific Gas & Electric during the second quarter worth $28,000. Tobam bought a new stake in Pacific Gas & Electric during the fourth quarter valued at $30,000. Torren Management LLC bought a new stake in Pacific Gas & Electric during the fourth quarter valued at $33,000. Modus Advisors LLC acquired a new stake in shares of Pacific Gas & Electric during the fourth quarter worth $36,000. Finally, CoreCap Advisors LLC raised its holdings in shares of Pacific Gas & Electric by 13.1% during the second quarter. CoreCap Advisors LLC now owns 5,843 shares of the utilities provider’s stock worth $98,000 after purchasing an additional 677 shares during the period. 78.56% of the stock is currently owned by institutional investors.

Pacific Gas & Electric Stock Performance

Shares of PCG opened at $17.95 on Friday. Pacific Gas & Electric Co. has a 1 year low of $14.34 and a 1 year high of $19.16. The company has a market cap of $48.09 billion, a price-to-earnings ratio of 13.00, a price-to-earnings-growth ratio of 1.19 and a beta of 0.28. 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 firm has a fifty day moving average of $17.40 and a 200-day moving average of $17.34.

Pacific Gas & Electric (NYSE:PCG) last released its quarterly 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 net margin of 12.25% and a return on equity of 12.48%. The business had revenue of $5.90 billion during the quarter, compared to analyst estimates of $6.20 billion. During the same quarter in the prior year, the firm 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. As a group, equities analysts anticipate that Pacific Gas & Electric Co. will post 1.65 earnings per share for the current year.

Wall Street Analyst Weigh In

Several research analysts have recently commented on PCG shares. Wall Street Zen lowered shares of Pacific Gas & Electric from a “buy” rating to a “hold” rating in a report on Saturday, July 25th. JPMorgan Chase & Co. dropped their price objective on shares of Pacific Gas & Electric from $24.00 to $23.00 and set an “overweight” rating on the stock in a research note on Friday, May 15th. BMO Capital Markets cut their target price on shares of Pacific Gas & Electric from $28.00 to $27.00 and set an “outperform” rating on the stock in a report on Friday, July 24th. Morgan Stanley decreased their target price on 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. Finally, Truist Financial lowered their target price on Pacific Gas & Electric from $23.00 to $21.00 and set a “buy” rating for the company in a report on Tuesday, August 4th. Seven research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $22.20.

Insider Buying and Selling

In other Pacific Gas & Electric news, EVP Marlene Santos sold 158,250 shares of the company’s stock in a transaction dated 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 completion of the transaction, the executive vice president owned 230,885 shares in the company, valued at approximately $4,155,930. This represents a 40.67% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Company insiders own 0.22% of the company’s stock.

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.