Pacific Gas & Electric (NYSE:PCG) Stock Price Target Raised at UBS Group

Pacific Gas & Electric (NYSE:PCG) had its target price boosted by analysts at UBS Group from $14.00 to $15.00 in a research report issued to clients and investors on Friday, Benzinga reports. The brokerage currently has a “neutral” rating on the utilities provider’s stock. UBS Group‘s price target points to a potential upside of 13.90% from the company’s previous close.

A number of other analysts have also recently issued reports on PCG. Truist Financial cut Pacific Gas & Electric from a “buy” rating to a “hold” rating and lowered their price objective for the company from $21.00 to $17.00 in a research report on Thursday, September 3rd. Weiss Ratings cut Pacific Gas & Electric from a “hold (c)” rating to a “hold (c-)” rating in a report on Friday, October 23rd. Barclays decreased their price target on Pacific Gas & Electric from $18.00 to $17.00 and set an “overweight” rating on the stock in a research note on Monday, October 12th. JPMorgan Chase & Co. lowered their price target 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. Finally, The Goldman Sachs Group set a $20.00 price objective on Pacific Gas & Electric in a research note on Thursday, October 15th. Seven research analysts have rated the stock with a Buy rating and nine have assigned a Hold rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $17.21.

Pacific Gas & Electric Stock Down 0.1%

PCG stock opened at $13.17 on Friday. Pacific Gas & Electric has a twelve month low of $11.77 and a twelve month high of $19.16. The company has a market cap of $35.30 billion, a PE ratio of 9.76, a price-to-earnings-growth ratio of 1.06 and a beta of 0.17. The business’s 50-day simple moving average is $13.64 and its 200 day simple moving average is $16.23. The company has a quick ratio of 0.97, a current ratio of 1.03 and a debt-to-equity ratio of 1.85.

Pacific Gas & Electric (NYSE:PCG) last posted its quarterly earnings results on Thursday, October 22nd. The utilities provider reported $0.41 EPS for the quarter, missing the consensus estimate of $0.42 by ($0.01). The firm 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 company’s revenue was down 1.0% on a year-over-year basis. During the same period last year, the company earned $0.50 EPS. On average, research analysts anticipate that Pacific Gas & Electric will post 1.65 earnings per share for the current year.

Insider Activity at Pacific Gas & Electric

In other Pacific Gas & Electric news, Director John O. Larsen purchased 7,500 shares of the company’s stock in a transaction that occurred on Wednesday, September 30th. The stock was purchased at an average cost of $12.20 per share, with a total value of $91,500.00. Following the acquisition, the director directly owned 36,685 shares of the company’s stock, valued at approximately $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 through this link. Also, Director William Fugate sold 6,500 shares of the firm’s stock in a transaction on Friday, September 4th. The shares were sold at an average price of $13.76, for a total value of $89,440.00. Following the sale, the director directly owned 73,530 shares of the company’s stock, valued at $1,011,772.80. This represents a 8.12% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 0.22% of the stock is owned by insiders.

Hedge Funds Weigh In On Pacific Gas & Electric

A number of institutional investors and hedge funds have recently bought and sold shares of PCG. Legal & General Group Plc acquired a new stake in shares of Pacific Gas & Electric in the second quarter valued at $398,915,000. Canada Pension Plan Investment Board bought a new stake in Pacific Gas & Electric during the 2nd quarter worth about $320,820,000. Barrow Hanley Mewhinney & Strauss LLC bought a new stake in Pacific Gas & Electric during the 2nd quarter worth about $314,855,000. Gallagher Fiduciary Advisors LLC acquired a new stake in Pacific Gas & Electric in the 2nd quarter valued at about $300,895,000. Finally, Man Group plc bought a new position in shares of Pacific Gas & Electric in the second quarter worth about $188,513,000. Institutional investors and hedge funds own 78.56% of the company’s stock.

Pacific Gas & Electric Company Profile

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.