Pacific Gas & Electric Co. (NYSE:PCG) Receives $21.09 Average Target Price from Analysts

Pacific Gas & Electric Co. (NYSE:PCG) has earned a consensus rating of “Moderate Buy” from the fourteen research firms that are presently covering the company, MarketBeat Ratings reports. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and eight have assigned a buy rating to the company. The average 1-year target price among analysts that have covered the stock in the last year is $21.0909.

Several equities research analysts have weighed in on PCG shares. TD Cowen restated a “buy” rating on shares of Pacific Gas & Electric in a research note on Thursday, December 4th. Morgan Stanley set a $23.00 price target on Pacific Gas & Electric in a report on Friday, February 20th. Jefferies Financial Group dropped their price objective on Pacific Gas & Electric from $21.00 to $20.00 and set a “buy” rating for the company in a research report on Wednesday, January 28th. Mizuho set a $21.00 price objective on Pacific Gas & Electric in a research note on Wednesday, January 21st. Finally, Wells Fargo & Company boosted their target price on Pacific Gas & Electric from $23.00 to $24.00 and gave the stock an “overweight” rating in a research note on Tuesday, January 20th.

Insider Transactions at Pacific Gas & Electric

In related news, EVP John R. Simon sold 45,607 shares of the stock in a transaction that occurred on Thursday, February 19th. The shares were sold at an average price of $18.00, for a total value of $820,926.00. Following the completion of the transaction, the executive vice president owned 392,303 shares of the company’s stock, valued at $7,061,454. This represents a 10.41% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 0.15% of the stock is currently owned by corporate insiders.

Institutional Trading of Pacific Gas & Electric

A number of hedge funds and other institutional investors have recently modified their holdings of PCG. Root Financial Partners LLC acquired a new position in shares of Pacific Gas & Electric during the third quarter worth $27,000. Versant Capital Management Inc boosted its holdings in shares of Pacific Gas & Electric by 826.2% during the 3rd quarter. Versant Capital Management Inc now owns 1,945 shares of the utilities provider’s stock valued at $29,000 after acquiring an additional 1,735 shares in the last quarter. Tobam acquired a new stake in shares of Pacific Gas & Electric during the 4th quarter valued at $30,000. Torren Management LLC bought a new stake in Pacific Gas & Electric during the 4th quarter worth $33,000. Finally, Cornerstone Planning Group LLC grew its position in Pacific Gas & Electric by 3,240.8% during the 3rd quarter. Cornerstone Planning Group LLC now owns 2,372 shares of the utilities provider’s stock worth $36,000 after acquiring an additional 2,301 shares during the last quarter. Institutional investors own 78.56% of the company’s stock.

Pacific Gas & Electric Price Performance

Shares of NYSE:PCG opened at $18.19 on Friday. The firm has a 50 day moving average of $16.74 and a 200-day moving average of $16.07. The stock has a market capitalization of $39.97 billion, a PE ratio of 15.41, a PEG ratio of 0.70 and a beta of 0.33. The company has a current ratio of 0.97, a quick ratio of 0.92 and a debt-to-equity ratio of 1.84. Pacific Gas & Electric has a 12 month low of $12.97 and a 12 month high of $19.16.

Pacific Gas & Electric (NYSE:PCG) last issued its quarterly earnings results on Wednesday, February 11th. The utilities provider reported $0.36 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.36. The company had revenue of $6.80 billion during the quarter, compared to the consensus estimate of $7.05 billion. Pacific Gas & Electric had a net margin of 10.84% and a return on equity of 11.28%. During the same quarter in the prior year, the firm posted $0.31 EPS. On average, equities research analysts predict that Pacific Gas & Electric will post 1.49 EPS for the current fiscal year.

Pacific Gas & Electric Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, April 15th. Investors of record on Tuesday, March 31st will be issued a dividend of $0.05 per share. The ex-dividend date of this dividend is Tuesday, March 31st. This represents a $0.20 annualized dividend and a dividend yield of 1.1%. Pacific Gas & Electric’s payout ratio is 16.95%.

Pacific Gas & Electric Company Profile

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.