Pacific Gas & Electric (NYSE:PCG – Free Report) had its target price boosted by UBS Group from $14.00 to $15.00 in a research report released on Friday morning,Benzinga reports. UBS Group currently has a neutral rating on the utilities provider’s stock.
A number of other research analysts have also commented on PCG. Barclays decreased their price objective on Pacific Gas & Electric from $18.00 to $17.00 and set an “overweight” rating on the stock in a research report on Monday, October 12th. HSBC began coverage on Pacific Gas & Electric in a research report on Thursday, October 22nd. They set a “buy” rating and a $15.50 target price for the company. LADENBURG THALM/SH SH dropped their target price on Pacific Gas & Electric from $22.00 to $15.50 and set a “buy” rating for the company in a research report on Tuesday, October 6th. Mizuho cut their price target on Pacific Gas & Electric from $16.00 to $14.00 and set a “neutral” rating on the stock in a research note on Thursday, September 3rd. Finally, JPMorgan Chase & Co. decreased their price target on Pacific Gas & Electric from $18.00 to $17.00 and set an “overweight” rating on the stock in a report on Monday, October 12th. Seven investment analysts have rated the stock with a Buy rating and nine have given a Hold rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $17.21.
View Our Latest Stock Report on PCG
Pacific Gas & Electric Price Performance
Shares of PCG stock opened at $13.17 on Friday. Pacific Gas & Electric has a 1 year low of $11.77 and a 1 year high of $19.16. The company has a current ratio of 1.03, a quick ratio of 0.97 and a debt-to-equity ratio of 1.85. The firm’s 50 day moving average is $13.64 and its 200-day moving average is $16.23. The firm has a market capitalization of $35.30 billion, a price-to-earnings ratio of 9.76, a PEG ratio of 1.06 and a beta of 0.17.
Pacific Gas & Electric (NYSE:PCG – Get Free Report) last issued its quarterly earnings results on Thursday, October 22nd. The utilities provider reported $0.41 earnings per share for the quarter, missing analysts’ consensus estimates of $0.42 by ($0.01). The company had revenue of $6.19 billion during the quarter, compared to analyst estimates of $6.82 billion. Pacific Gas & Electric had a net margin of 12.00% and a return on equity of 11.49%. The business’s revenue for the quarter was down 1.0% on a year-over-year basis. During the same period in the prior year, the business earned $0.50 EPS. Sell-side analysts forecast that Pacific Gas & Electric will post 1.65 EPS for the current fiscal year.
Pacific Gas & Electric Dividend Announcement
The firm also recently announced a quarterly dividend, which was paid on Thursday, October 15th. Shareholders of record on Wednesday, September 30th were issued a dividend of $0.05 per share. This represents a $0.20 dividend on an annualized basis and a yield of 1.5%. The ex-dividend date of this dividend was Wednesday, September 30th. Pacific Gas & Electric’s payout ratio is currently 14.81%.
Insiders Place Their Bets
In related news, Director John O. Larsen purchased 7,500 shares of the business’s stock in a transaction dated Wednesday, September 30th. The shares were bought at an average price of $12.20 per share, with a total value of $91,500.00. Following the purchase, the director directly owned 36,685 shares in the company, valued at $447,557. This trade represents a 25.70% increase in their position. The acquisition was disclosed in a filing with the SEC, which is available at this link. Also, Director William Fugate sold 6,500 shares of the firm’s stock in a transaction on Friday, September 4th. The stock was sold at an average price of $13.76, for a total value of $89,440.00. Following the completion of the transaction, the director owned 73,530 shares in the company, valued at $1,011,772.80. This represents a 8.12% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 0.22% of the stock is currently owned by insiders.
Institutional Investors Weigh In On Pacific Gas & Electric
Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Keating Financial Advisory Services Inc. acquired a new position in Pacific Gas & Electric in the second quarter valued at about $28,000. Transamerica Financial Advisors LLC bought a new position in Pacific Gas & Electric during the second quarter worth about $57,000. CoreCap Advisors LLC boosted its holdings in Pacific Gas & Electric by 13.1% during the second quarter. CoreCap Advisors LLC now owns 5,843 shares of the utilities provider’s stock worth $98,000 after buying an additional 677 shares during the last quarter. Versant Capital Management Inc boosted its holdings in Pacific Gas & Electric by 19.6% during the second quarter. Versant Capital Management Inc now owns 6,636 shares of the utilities provider’s stock worth $112,000 after buying an additional 1,088 shares during the last quarter. Finally, Glenview Trust Co acquired a new position in shares of Pacific Gas & Electric during the 2nd quarter worth about $208,000. Institutional investors own 78.56% of the company’s stock.
About Pacific Gas & Electric
PG&E Corporation (NYSE: PCG) is the holding company for Pacific Gas and Electric Company, a regulated utility that provides electricity and natural gas delivery services in Northern and Central California. Its operations include maintaining and operating electric transmission and distribution networks, natural gas pipelines, substations, and other infrastructure used to serve residential, commercial, industrial, and agricultural customers.
Pacific Gas and Electric Company serves a broad portion of California, including the San Francisco Bay Area, the Central Valley, and parts of the northern and central regions of the state.
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