Pacific Gas & Electric (NYSE:PCG – Get Free Report) had its price target decreased by JPMorgan Chase & Co. from $24.00 to $23.00 in a research report issued to clients and investors on Friday,Benzinga reports. The brokerage presently has an “overweight” rating on the utilities provider’s stock. JPMorgan Chase & Co.‘s target price indicates a potential upside of 40.18% from the company’s previous close.
PCG has been the topic of several other reports. Morgan Stanley set a $23.00 price objective on Pacific Gas & Electric in a research report on Friday, February 20th. Wall Street Zen cut Pacific Gas & Electric from a “buy” rating to a “hold” rating in a research report on Sunday, May 3rd. Truist Financial initiated coverage on Pacific Gas & Electric in a research report on Monday, April 20th. They issued a “buy” rating and a $23.00 price target on the stock. Barclays boosted their price target on Pacific Gas & Electric from $21.00 to $23.00 and gave the stock an “overweight” rating in a research report on Wednesday, February 18th. Finally, Jefferies Financial Group reissued a “hold” rating and issued a $19.00 price target (down from $20.00) on shares of Pacific Gas & Electric in a research report on Monday, March 23rd. One investment analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating, four have issued a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $22.30.
Check Out Our Latest Stock Analysis on Pacific Gas & Electric
Pacific Gas & Electric Trading Down 2.4%
Pacific Gas & Electric (NYSE:PCG – Get Free Report) last announced its quarterly earnings results on Thursday, April 23rd. The utilities provider reported $0.43 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.39 by $0.04. Pacific Gas & Electric had a return on equity of 11.95% and a net margin of 11.44%.The company had revenue of $6.88 billion for the quarter, compared to the consensus estimate of $6.20 billion. During the same quarter in the previous year, the business earned $0.33 EPS. Pacific Gas & Electric’s revenue was up 15.0% compared to the same quarter last year. Pacific Gas & Electric has set its FY 2026 guidance at 1.640-1.660 EPS. On average, sell-side analysts predict that Pacific Gas & Electric will post 1.65 earnings per share for the current year.
Insider Activity
In related news, EVP Jason M. Glickman sold 47,264 shares of the business’s stock in a transaction that occurred on Tuesday, April 28th. The shares were sold at an average price of $16.35, for a total value of $772,766.40. Following the completion of the transaction, the executive vice president directly owned 136,433 shares in the company, valued at $2,230,679.55. The trade was a 25.73% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Kerry Whorton Cooper sold 2,500 shares of the business’s stock in a transaction that occurred on Tuesday, March 17th. The stock was sold at an average price of $18.68, for a total transaction 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. The trade was a 3.31% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold 131,550 shares of company stock valued at $2,301,512 in the last quarter. Insiders own 0.22% of the company’s stock.
Institutional Investors Weigh In On Pacific Gas & Electric
A number of hedge funds have recently added to or reduced their stakes in the stock. Titleist Asset Management LLC raised its stake in Pacific Gas & Electric by 2.1% during the 3rd quarter. Titleist Asset Management LLC now owns 43,832 shares of the utilities provider’s stock valued at $661,000 after buying an additional 882 shares during the last quarter. Fifth Third Wealth Advisors LLC raised its stake in Pacific Gas & Electric by 5.7% during the 1st quarter. Fifth Third Wealth Advisors LLC now owns 16,368 shares of the utilities provider’s stock valued at $288,000 after buying an additional 885 shares during the last quarter. FreeGulliver LLC raised its stake in Pacific Gas & Electric by 7.9% during the 3rd quarter. FreeGulliver LLC now owns 13,482 shares of the utilities provider’s stock valued at $203,000 after buying an additional 987 shares during the last quarter. Commerzbank Aktiengesellschaft FI raised its stake in Pacific Gas & Electric by 2.7% during the 4th quarter. Commerzbank Aktiengesellschaft FI now owns 42,734 shares of the utilities provider’s stock valued at $687,000 after buying an additional 1,142 shares during the last quarter. Finally, Covestor Ltd increased its stake in shares of Pacific Gas & Electric by 20.6% in the 3rd quarter. Covestor Ltd now owns 9,029 shares of the utilities provider’s stock worth $136,000 after purchasing an additional 1,544 shares in the last quarter. 78.56% of the stock is currently owned by hedge funds and other institutional investors.
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.
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