Pacific Gas & Electric (NYSE:PCG – Get Free Report)‘s stock had its “neutral” rating reiterated by stock analysts at Mizuho in a note issued to investors on Monday, Marketbeat reports. They presently have a $16.00 price target on the utilities provider’s stock, down from their previous price target of $21.00. Mizuho’s target price would suggest a potential downside of 3.79% from the stock’s current price.
Several other research firms have also weighed in on PCG. Weiss Ratings lowered shares of Pacific Gas & Electric from a “hold (c+)” rating to a “hold (c)” rating in a report on Thursday, June 4th. Wall Street Zen lowered shares of Pacific Gas & Electric from a “buy” rating to a “hold” rating in a research report on Saturday, July 25th. UBS Group reaffirmed a “buy” rating on shares of Pacific Gas & Electric in a research note on Tuesday, August 18th. JPMorgan Chase & Co. dropped their price objective on shares of Pacific Gas & Electric from $24.00 to $23.00 and set an “overweight” rating for the company in a report on Friday, May 15th. Finally, BMO Capital Markets reissued a “market perform” rating and issued a $21.00 target price (down from $28.00) on shares of Pacific Gas & Electric in a report on Monday. Six equities research analysts have rated the stock with a Buy rating and five have issued a Hold rating to the stock. According to MarketBeat, Pacific Gas & Electric has an average rating of “Moderate Buy” and an average price target of $21.10.
Get Our Latest Stock Report on PCG
Pacific Gas & Electric Price Performance
Pacific Gas & Electric (NYSE:PCG – Get Free Report) last announced its quarterly earnings results 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. Pacific Gas & Electric had a return on equity of 12.48% and a net margin of 12.25%.The firm had revenue of $5.90 billion for the quarter, compared to analysts’ expectations of $6.20 billion. During the same period in the prior year, the business posted $0.31 earnings per share. The business’s revenue was up .1% 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 forecast that Pacific Gas & Electric will post 1.65 EPS for the current fiscal year.
Insider Transactions at Pacific Gas & Electric
In other Pacific Gas & Electric news, EVP Marlene Santos sold 158,250 shares of the stock in a transaction dated Wednesday, July 22nd. The shares were sold at an average price of $18.00, for a total transaction of $2,848,500.00. Following the sale, the executive vice president owned 230,885 shares of the company’s stock, valued at $4,155,930. This represents a 40.67% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 0.22% of the stock is currently owned by company insiders.
Hedge Funds Weigh In On Pacific Gas & Electric
Institutional investors have recently modified their holdings of the stock. Geode Capital Management LLC grew its stake in shares of Pacific Gas & Electric by 1.9% during the fourth quarter. Geode Capital Management LLC now owns 62,134,132 shares of the utilities provider’s stock valued at $1,019,297,000 after purchasing an additional 1,132,249 shares during the last quarter. Gallagher Fiduciary Advisors LLC bought a new position in Pacific Gas & Electric in the 2nd quarter worth approximately $300,895,000. Legal & General Group Plc bought a new position in Pacific Gas & Electric in the 2nd quarter worth approximately $398,915,000. Canada Pension Plan Investment Board acquired a new position in Pacific Gas & Electric during the 2nd quarter worth $320,820,000. Finally, Barrow Hanley Mewhinney & Strauss LLC acquired a new position in Pacific Gas & Electric during the 2nd quarter worth $314,855,000. 78.56% of the stock is owned by institutional investors.
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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