Pacific Gas & Electric (NYSE:PCG) Upgraded at Truist Financial

Pacific Gas & Electric (NYSE:PCG) was upgraded by equities research analysts at Truist Financial to a “strong-buy” rating in a research report issued on Monday,Zacks.com reports.

Several other equities research analysts have also weighed in on the company. Wells Fargo & Company reissued an “overweight” rating and issued a $25.00 price objective on shares of Pacific Gas & Electric in a report on Tuesday. JPMorgan Chase & Co. lifted their price objective on Pacific Gas & Electric from $21.00 to $24.00 and gave the stock an “overweight” rating in a report on Wednesday, March 18th. Jefferies Financial Group reissued a “hold” rating and issued a $19.00 price objective (down from $20.00) on shares of Pacific Gas & Electric in a report on Monday, March 23rd. Morgan Stanley set a $23.00 price objective on Pacific Gas & Electric in a report on Friday, February 20th. Finally, Barclays raised their target price on Pacific Gas & Electric from $21.00 to $23.00 and gave the stock an “overweight” rating in a research note on Wednesday, February 18th. One investment analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating, six have issued a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $21.50.

Pacific Gas & Electric Trading Down 1.9%

Shares of PCG opened at $17.03 on Monday. The business has a 50-day moving average of $17.97 and a 200 day moving average of $16.62. Pacific Gas & Electric has a fifty-two week low of $12.97 and a fifty-two week high of $19.16. The firm has a market cap of $37.42 billion, a P/E ratio of 14.43, a price-to-earnings-growth ratio of 0.66 and a beta of 0.34. The company has a debt-to-equity ratio of 1.84, a quick ratio of 0.92 and a current ratio of 0.97.

Pacific Gas & Electric (NYSE:PCG) last announced its quarterly earnings data on Wednesday, February 11th. The utilities provider reported $0.36 earnings per share for the quarter, hitting the consensus estimate of $0.36. Pacific Gas & Electric had a return on equity of 11.28% and a net margin of 10.84%.The company had revenue of $6.80 billion during the quarter, compared to analyst estimates of $7.05 billion. During the same quarter last year, the firm posted $0.31 EPS. As a group, research analysts forecast that Pacific Gas & Electric will post 1.65 EPS for the current year.

Insiders Place Their Bets

In other Pacific Gas & Electric news, EVP John R. Simon sold 45,607 shares of the firm’s stock in a transaction dated Thursday, February 19th. The stock was sold at an average price of $18.00, for a total value of $820,926.00. Following the completion of the transaction, the executive vice president owned 392,303 shares in the company, valued at $7,061,454. This trade represents a 10.41% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Kerry Whorton Cooper sold 2,500 shares of the firm’s stock in a transaction dated Tuesday, March 17th. The stock was sold at an average price of $18.68, for a total value of $46,700.00. Following the completion of the transaction, the director owned 73,141 shares of the company’s stock, valued at approximately $1,366,273.88. This represents a 3.31% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold a total of 84,286 shares of company stock worth $1,528,746 in the last quarter. 0.15% of the stock is owned by company insiders.

Institutional Trading of Pacific Gas & Electric

Large investors have recently modified their holdings of the business. Root Financial Partners LLC bought a new stake in shares of Pacific Gas & Electric during the 3rd quarter valued at about $27,000. Versant Capital Management Inc boosted its position in shares of Pacific Gas & Electric by 826.2% during the 3rd quarter. Versant Capital Management Inc now owns 1,945 shares of the utilities provider’s stock valued at $29,000 after acquiring an additional 1,735 shares during the last quarter. Tobam bought a new stake in shares of Pacific Gas & Electric during the 4th quarter valued at about $30,000. Torren Management LLC bought a new stake in shares of Pacific Gas & Electric during the 4th quarter valued at about $33,000. Finally, Cornerstone Planning Group LLC boosted its position in shares of Pacific Gas & Electric by 3,240.8% during the 3rd quarter. Cornerstone Planning Group LLC now owns 2,372 shares of the utilities provider’s stock valued at $36,000 after acquiring an additional 2,301 shares during the last quarter. Institutional investors own 78.56% of the company’s stock.

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.