Pacific Gas & Electric Co. (NYSE:PCG – Get Free Report) has been given a consensus rating of “Moderate Buy” by the eleven analysts that are covering the firm, MarketBeat reports. One investment analyst has rated the stock with a sell recommendation, three have assigned a hold recommendation and seven have assigned a buy recommendation to the company. The average 12-month price objective among analysts that have covered the stock in the last year is $22.20.
A number of analysts recently weighed in on the stock. Truist Financial decreased their price target on shares of Pacific Gas & Electric from $23.00 to $21.00 and set a “buy” rating for the company in a research note on Tuesday, August 4th. 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. Weiss Ratings cut shares of Pacific Gas & Electric from a “hold (c+)” rating to a “hold (c)” rating in a report on Thursday, June 4th. Morgan Stanley set a $22.00 target price on shares of Pacific Gas & Electric in a research note on Thursday, May 21st. Finally, Wells Fargo & Company reissued an “overweight” rating and set a $25.00 price target on shares of Pacific Gas & Electric in a report on Tuesday, April 21st.
Read Our Latest Report on Pacific Gas & Electric
Pacific Gas & Electric Trading Up 0.1%
Pacific Gas & Electric (NYSE:PCG – Get Free Report) last issued its quarterly earnings data on Thursday, July 23rd. The utilities provider reported $0.40 earnings per share for the quarter, beating analysts’ consensus estimates of $0.36 by $0.04. The company had revenue of $5.90 billion during the quarter, compared to analysts’ expectations of $6.20 billion. Pacific Gas & Electric had a return on equity of 12.48% and a net margin of 12.25%.The firm’s revenue for the quarter was up .1% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.31 earnings per share. Pacific Gas & Electric has set its FY 2026 guidance at 1.640-1.660 EPS. On average, research analysts anticipate that Pacific Gas & Electric will post 1.65 EPS for the current year.
Pacific Gas & Electric Announces Dividend
The business also recently announced a quarterly dividend, which was paid on Wednesday, July 15th. Shareholders of record on Tuesday, June 30th were paid a $0.05 dividend. This represents a $0.20 annualized dividend and a dividend yield of 1.1%. The ex-dividend date was Tuesday, June 30th. Pacific Gas & Electric’s dividend payout ratio (DPR) is 14.49%.
Insider Activity
In other news, EVP Marlene Santos sold 158,250 shares of the company’s stock in a transaction that occurred on Wednesday, July 22nd. The stock was sold at an average price of $18.00, for a total transaction of $2,848,500.00. Following the completion of the sale, the executive vice president owned 230,885 shares in the company, valued at $4,155,930. This represents a 40.67% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders own 0.22% of the company’s stock.
Hedge Funds Weigh In On Pacific Gas & Electric
Institutional investors have recently bought and sold shares of the company. Geode Capital Management LLC lifted its stake in shares of Pacific Gas & Electric by 1.9% in the 4th quarter. Geode Capital Management LLC now owns 62,134,132 shares of the utilities provider’s stock worth $1,019,297,000 after acquiring an additional 1,132,249 shares during the period. Mitsubishi UFJ Asset Management Co. Ltd. acquired a new position in shares of Pacific Gas & Electric during the second quarter worth about $90,898,000. SG Americas Securities LLC increased its stake in shares of Pacific Gas & Electric by 366.6% during the first quarter. SG Americas Securities LLC now owns 2,984,809 shares of the utilities provider’s stock worth $52,443,000 after acquiring an additional 2,345,120 shares during the period. Pinebridge Investments LLC purchased a new position in Pacific Gas & Electric during the fourth quarter worth about $28,967,000. Finally, Energy Income Partners LLC purchased a new position in Pacific Gas & Electric during the second quarter worth about $27,902,000. 78.56% of the stock is owned by institutional investors and hedge funds.
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.
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