Why Are Shares of Pacific Gas & Electric Co. (PCG) Down Today?

Pacific Gas & Electric Co. stock is trading -16.62% below its average target price of $19.46 after dropping -1.4% during today's afternoon session. Analysts are giving the large-cap Utilities—Independent Power Producers company an average rating of buy and target prices ranging from $14.0 to $21.0 per share.

The stock has a very low short interest at 1.7%, and a short ratio of 2.33. The company's insiders own 2.84% of its outstanding shares, which indicates a strong alignment between management and shareholder interests. Finally, we also note that an average number of institutional investors are invested in the stock, with 74.2% of Pacific Gas & Electric Co.'s shares being owned by this investor type.

Institutions Invested in Pacific Gas & Electric Co.

Date Reported Holder Percentage Shares Value
2023-06-30 Vanguard Group Inc 10% 246,675,783 $4,002,314,673
2023-06-30 FMR, LLC 7% 171,985,300 $2,790,461,558
2023-06-30 Blackrock Inc. 6% 144,035,914 $2,336,982,759
2023-06-30 Capital Research Global Investors 5% 129,917,458 $2,107,910,805
2023-06-30 Capital International Investors 4% 101,021,577 $1,639,075,125
2023-06-30 JP Morgan Chase & Company 4% 93,897,501 $1,523,486,989
2023-06-30 State Street Corporation 3% 88,758,535 $1,440,107,264
2023-06-30 Massachusetts Financial Services Co. 3% 65,341,888 $1,060,172,157
2023-06-30 Third Point, LLC 2% 54,000,000 $876,150,020
2023-06-30 Blackstone Inc 2% 48,078,945 $780,080,900

Besides an analyst consensus of some upside potential, other market factors point to there being positive market sentiment on Pacific Gas & Electric Co..

The above analysis is intended for educational purposes only and was performed on the basis of publicly available data. It is not to be construed as a recommendation to buy or sell any security. Any buy, sell, or other recommendations mentioned in the article are direct quotations of consensus recommendations from the analysts covering the stock, and do not represent the opinions of Market Inference or its writers. Past performance, accounting data, and inferences about market position and corporate valuation are not reliable indicators of future price movements. Market Inference does not provide financial advice. Investors should conduct their own review and analysis of any company of interest before making an investment decision.