Pacific Gas & Electric Co. (NYSE:PCG) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a report issued on Wednesday.

According to Zacks, “PG&E Corporation’s systematic investments in infrastructure projects, backed by a stable financial position, will allow it to improve service reliability and meet increasing customer demand. Further, steady growth in the customer count is expected to boost the company’s top line. PG&E Corporation’s stable financial position allows the company to pay regular dividends, which in turn, help it to retain investor interest. However, cost of compliance to new and stringent regulations is a major concern for PG&E Corporation. Moreover, penalties levied for the San Bruno case and changes in environmental mandates could impact the company’s financial performance.”

Other analysts have also issued research reports about the stock. Mizuho reiterated a “buy” rating and issued a $64.00 price objective (up previously from $56.00) on shares of Pacific Gas & Electric Co. in a research note on Tuesday, May 24th. Jefferies Group reiterated a “buy” rating on shares of Pacific Gas & Electric Co. in a research note on Tuesday, May 24th. JPMorgan Chase & Co. reiterated a “buy” rating on shares of Pacific Gas & Electric Co. in a research note on Wednesday, July 6th. Royal Bank Of Canada upgraded shares of Pacific Gas & Electric Co. from a “sector perform” rating to an “outperform” rating and increased their price objective for the stock from $60.00 to $71.00 in a research note on Friday, July 15th. Finally, Citigroup Inc. reiterated a “hold” rating and issued a $64.00 price objective (up previously from $54.00) on shares of Pacific Gas & Electric Co. in a research note on Wednesday, July 20th. Two research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company. The company currently has a consensus rating of “Buy” and a consensus target price of $66.08.

Analyst Recommendations for Pacific Gas & Electric Co. (NYSE:PCG)

Shares of Pacific Gas & Electric Co. (NYSE:PCG) opened at 64.02 on Wednesday. Pacific Gas & Electric Co. has a 52 week low of $50.65 and a 52 week high of $65.43. The firm has a 50-day moving average of $63.02 and a 200 day moving average of $61.20. The stock has a market cap of $31.91 billion, a PE ratio of 42.15 and a beta of 0.20.

Pacific Gas & Electric Co. (NYSE:PCG) last issued its quarterly earnings results on Thursday, July 28th. The company reported $0.66 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.92 by $0.26. Pacific Gas & Electric Co. had a net margin of 4.51% and a return on equity of 8.27%. The company had revenue of $4.17 billion for the quarter, compared to analyst estimates of $4.59 billion. During the same quarter in the previous year, the company posted $0.91 EPS. The company’s revenue for the quarter was down 1.1% compared to the same quarter last year. On average, equities analysts forecast that Pacific Gas & Electric Co. will post $3.72 EPS for the current fiscal year.

The firm also recently declared a quarterly dividend, which will be paid on Saturday, October 15th. Stockholders of record on Friday, September 30th will be paid a $0.49 dividend. This represents a $1.96 annualized dividend and a dividend yield of 3.06%. The ex-dividend date is Wednesday, September 28th. Pacific Gas & Electric Co.’s dividend payout ratio is currently 128.11%.

Several institutional investors have recently bought and sold shares of PCG. Nuveen Asset Management LLC increased its position in Pacific Gas & Electric Co. by 59.3% in the first quarter. Nuveen Asset Management LLC now owns 620,782 shares of the company’s stock valued at $37,073,000 after buying an additional 231,205 shares in the last quarter. EP Wealth Advisors Inc. acquired a new position in Pacific Gas & Electric Co. during the first quarter valued at $686,000. BlackRock Group LTD increased its position in Pacific Gas & Electric Co. by 2.5% in the first quarter. BlackRock Group LTD now owns 4,361,632 shares of the company’s stock valued at $260,477,000 after buying an additional 104,695 shares in the last quarter. Wealthsource Partners LLC acquired a new position in Pacific Gas & Electric Co. during the first quarter valued at $375,000. Finally, Jacobs Levy Equity Management Inc. increased its position in Pacific Gas & Electric Co. by 218.0% in the first quarter. Jacobs Levy Equity Management Inc. now owns 120,460 shares of the company’s stock valued at $7,194,000 after buying an additional 82,580 shares in the last quarter. 79.33% of the stock is currently owned by hedge funds and other institutional investors.

About Pacific Gas & Electric Co.

PG&E Corporation is a holding company. The Company’s primary operating subsidiary is Pacific Gas and Electric Company (the Utility). The Utility’s operations include sale and delivery of electricity and natural gas to customers. The Utility generates electricity and provides electricity transmission and distribution services throughout its service territory in northern and central California to residential, commercial, industrial and agricultural customers.

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