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

PCG has been the topic of several other reports. Jefferies Group decreased their price objective on shares of Pacific Gas & Electric Co. from $71.50 to $70.00 and set a “buy” rating on the stock in a research report on Monday, August 29th. Mizuho reiterated a “buy” rating and issued a $64.00 price objective (up from $56.00) on shares of Pacific Gas & Electric Co. in a research report on Tuesday, May 24th. Citigroup Inc. reiterated a “hold” rating and issued a $64.00 price objective (up from $54.00) on shares of Pacific Gas & Electric Co. in a research report on Wednesday, July 20th. Deutsche Bank AG decreased their price objective on shares of Pacific Gas & Electric Co. from $68.00 to $67.00 and set a “buy” rating on the stock in a research report on Friday, July 29th. Finally, JPMorgan Chase & Co. reiterated a “buy” rating on shares of Pacific Gas & Electric Co. in a research report on Wednesday, July 6th. Two investment analysts have rated the stock with a hold rating and twelve have issued a buy rating to the stock. The stock currently has an average rating of “Buy” and a consensus price target 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. The firm’s 50 day moving average is $63.02 and its 200-day moving average is $61.20. Pacific Gas & Electric Co. has a 12 month low of $50.65 and a 12 month high of $65.43. The firm has a market capitalization of $31.91 billion, a PE ratio of 42.15 and a beta of 0.20.

Pacific Gas & Electric Co. (NYSE:PCG) last released its quarterly earnings data on Thursday, July 28th. The company reported $0.66 EPS for the quarter, missing the consensus estimate of $0.92 by $0.26. Pacific Gas & Electric Co. had a return on equity of 8.27% and a net margin of 4.51%. The business earned $4.17 billion during the quarter, compared to analysts’ expectations of $4.59 billion. During the same quarter in the prior year, the firm earned $0.91 earnings per share. Pacific Gas & Electric Co.’s quarterly revenue was down 1.1% on a year-over-year basis. On average, analysts expect that Pacific Gas & Electric Co. will post $3.72 EPS for the current fiscal year.

The firm also recently announced a quarterly dividend, which will be paid on Saturday, October 15th. Investors of record on Friday, September 30th will be given a dividend of $0.49 per share. This represents a $1.96 dividend on an annualized basis and a yield of 3.06%. The ex-dividend date of this dividend is Wednesday, September 28th. Pacific Gas & Electric Co.’s dividend payout ratio (DPR) is presently 128.11%.

Hedge funds have recently bought and sold shares of the company. NN Investment Partners Holdings N.V. acquired a new stake in Pacific Gas & Electric Co. during the first quarter worth about $4,230,000. Marietta Investment Partners LLC acquired a new stake in Pacific Gas & Electric Co. during the first quarter worth about $340,000. BlackRock Japan Co. Ltd increased its stake in Pacific Gas & Electric Co. by 1.1% in the first quarter. BlackRock Japan Co. Ltd now owns 615,041 shares of the company’s stock worth $36,730,000 after buying an additional 6,425 shares during the period. BlackRock Institutional Trust Company N.A. increased its stake in Pacific Gas & Electric Co. by 0.6% in the first quarter. BlackRock Institutional Trust Company N.A. now owns 13,094,041 shares of the company’s stock worth $781,976,000 after buying an additional 77,531 shares during the period. Finally, BlackRock Group LTD increased its stake 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 worth $260,477,000 after buying an additional 104,695 shares during the period. 79.33% of the stock is owned by hedge funds and other institutional investors.

Pacific Gas & Electric Co. Company Profile

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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