Wells Fargo & Company Reaffirms Equal Weight Rating for Pacific Gas & Electric (NYSE:PCG)

Pacific Gas & Electric (NYSE:PCG)‘s stock had its “equal weight” rating reissued by investment analysts at Wells Fargo & Company in a research report issued to clients and investors on Monday, MarketBeat reports. They presently have a $24.00 price target on the utilities provider’s stock, down from their previous price target of $25.00. Wells Fargo & Company‘s price objective suggests a potential upside of 44.32% from the stock’s previous close.

PCG has been the topic of several other research reports. UBS Group reaffirmed a “buy” rating on shares of Pacific Gas & Electric in a research report on Tuesday, August 18th. Mizuho restated a “neutral” rating and set a $16.00 price objective (down from $21.00) on shares of Pacific Gas & Electric in a research note on Monday. Truist Financial cut their price objective on shares of Pacific Gas & Electric from $23.00 to $21.00 and set a “buy” rating on the stock in a report on Tuesday, August 4th. BMO Capital Markets reiterated a “market perform” rating and issued a $21.00 target price (down from $28.00) on shares of Pacific Gas & Electric in a research note on Monday. Finally, Morgan Stanley lowered their target price on shares of Pacific Gas & Electric from $23.00 to $22.00 and set an “equal weight” rating for the company in a report on Friday, August 21st. Five analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $21.00.

Pacific Gas & Electric Stock Performance

NYSE PCG opened at $16.63 on Monday. The company has a current ratio of 1.22, a quick ratio of 1.15 and a debt-to-equity ratio of 1.90. The company has a fifty day simple moving average of $17.41 and a 200 day simple moving average of $17.34. Pacific Gas & Electric has a 12-month low of $14.34 and a 12-month high of $19.16. The company has a market cap of $44.57 billion, a P/E ratio of 12.05, a PEG ratio of 1.08 and a beta of 0.28.

Pacific Gas & Electric (NYSE:PCG) last posted its earnings results on Thursday, July 23rd. The utilities provider reported $0.40 EPS for the quarter, topping the consensus estimate of $0.36 by $0.04. The company had revenue of $5.90 billion during the quarter, compared to the consensus estimate of $6.20 billion. Pacific Gas & Electric had a net margin of 12.25% and a return on equity of 12.48%. The firm’s revenue for the quarter was up .1% on a year-over-year basis. During the same period in the previous year, the firm posted $0.31 earnings per share. Pacific Gas & Electric has set its FY 2026 guidance at 1.640-1.660 EPS. Sell-side analysts predict that Pacific Gas & Electric will post 1.65 earnings per share for the current fiscal year.

Insider Activity

In related news, EVP Marlene Santos sold 158,250 shares of the stock in a transaction that occurred on Wednesday, July 22nd. The stock was sold at an average price of $18.00, for a total transaction of $2,848,500.00. Following the completion of the sale, the executive vice president directly owned 230,885 shares of the company’s stock, valued at approximately $4,155,930. This trade represents a 40.67% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 0.22% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of the business. Keating Financial Advisory Services Inc. bought a new position in Pacific Gas & Electric in the 2nd quarter valued at $28,000. Tobam bought a new stake in shares of Pacific Gas & Electric during the 4th quarter worth $30,000. Modus Advisors LLC bought a new stake in shares of Pacific Gas & Electric during the 4th quarter worth $36,000. Transamerica Financial Advisors LLC purchased a new position in shares of Pacific Gas & Electric in the 2nd quarter worth about $57,000. Finally, CoreCap Advisors LLC boosted its holdings in shares of Pacific Gas & Electric by 13.1% in the 2nd 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. Hedge funds and other institutional investors own 78.56% of the company’s stock.

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.