MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. Boosts Stake in Pacific Gas & Electric Co. $PCG

MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its holdings in Pacific Gas & Electric Co. (NYSE:PCG) by 7.1% in the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 261,212 shares of the utilities provider’s stock after purchasing an additional 17,400 shares during the quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd.’s holdings in Pacific Gas & Electric were worth $4,488,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also made changes to their positions in PCG. Canada Pension Plan Investment Board boosted its stake in shares of Pacific Gas & Electric by 352.3% in the first quarter. Canada Pension Plan Investment Board now owns 19,172,519 shares of the utilities provider’s stock valued at $329,384,000 after purchasing an additional 14,933,364 shares during the period. AQR Capital Management LLC boosted its stake in shares of Pacific Gas & Electric by 317.2% in the first quarter. AQR Capital Management LLC now owns 16,464,333 shares of the utilities provider’s stock valued at $280,305,000 after purchasing an additional 12,518,011 shares during the period. ATLAS Infrastructure Partners UK Ltd. boosted its stake in shares of Pacific Gas & Electric by 193.4% in the first quarter. ATLAS Infrastructure Partners UK Ltd. now owns 10,428,328 shares of the utilities provider’s stock valued at $179,159,000 after purchasing an additional 6,873,576 shares during the period. Zimmer Partners LP lifted its stake 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 worth $255,506,000 after acquiring an additional 5,814,624 shares during the last quarter. Finally, Vanguard Group Inc. raised its holdings in shares of Pacific Gas & Electric by 1.2% in 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 purchasing an additional 2,926,384 shares in the last quarter. Hedge funds and other institutional investors own 78.56% of the company’s stock.

Pacific Gas & Electric Trading Up 3.2%

NYSE PCG opened at $15.75 on Friday. 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 market cap of $42.14 billion, a PE ratio of 14.45, a P/E/G ratio of 1.14 and a beta of 0.57. Pacific Gas & Electric Co. has a one year low of $12.97 and a one year high of $21.72. The firm’s fifty day moving average is $14.53 and its two-hundred day moving average is $15.68.

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

Analyst Upgrades and Downgrades

A number of equities research analysts have recently weighed in on PCG shares. Mizuho raised their price objective on shares of Pacific Gas & Electric from $20.00 to $21.00 and gave the company an “outperform” rating in a report on Monday, May 19th. Barclays reduced 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 research report on Tuesday, July 22nd. Morgan Stanley restated an “underweight” rating on shares of Pacific Gas & Electric in a research report on Thursday, August 21st. Argus upgraded shares of Pacific Gas & Electric to a “hold” rating in a research report on Monday, June 16th. Finally, UBS Group set a $19.00 price objective on shares of Pacific Gas & Electric in a research report on Friday, August 29th. Six equities 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.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $20.20.

About Pacific Gas & Electric

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.