Pacific Gas & Electric (NYSE:PCG) Stock Price Breaks Above 50 Day Moving Average – What’s Next?

Pacific Gas & Electric Co. (NYSE:PCG)’s stock price crossed above its 50-day moving average during trading on Wednesday. The stock has a 50-day moving average of $13.36 and traded as high as $13.52. Pacific Gas & Electric shares last traded at $13.3750, with a volume of 28,350,350 shares trading hands.

Analysts Set New Price Targets

A number of equities analysts have commented on PCG shares. JPMorgan Chase & Co. decreased their price objective on shares of Pacific Gas & Electric from $18.00 to $17.00 and set an “overweight” rating for the company in a report on Monday, October 12th. Jefferies Financial Group reduced their target price on Pacific Gas & Electric from $19.00 to $14.00 in a report on Wednesday, October 21st. Morgan Stanley upped their price target on Pacific Gas & Electric from $20.00 to $21.00 and gave the company an “equal weight” rating in a report on Wednesday, October 21st. Barclays lowered their target price on Pacific Gas & Electric from $18.00 to $17.00 and set an “overweight” rating for the company in a research note on Monday, October 12th. Finally, Bank of America lifted their price objective on Pacific Gas & Electric from $13.00 to $14.00 in a research note on Tuesday, September 8th. Seven equities research analysts have rated the stock with a Buy rating and nine have issued a Hold rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $17.21.

Pacific Gas & Electric Trading Down 2.1%

The company has a current ratio of 1.03, a quick ratio of 0.97 and a debt-to-equity ratio of 1.85. The firm has a 50-day moving average price of $13.16 and a 200-day moving average price of $16.17. The stock has a market capitalization of $34.72 billion, a PE ratio of 9.60, a price-to-earnings-growth ratio of 1.06 and a beta of 0.17.

Pacific Gas & Electric (NYSE:PCG) last announced its earnings results on Thursday, October 22nd. The utilities provider reported $0.41 earnings per share for the quarter, missing analysts’ consensus estimates of $0.42 by ($0.01). The company had revenue of $6.19 billion during the quarter, compared to analysts’ expectations 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 for the quarter was down 1.0% compared to the same quarter last year. During the same period in the prior year, the business earned $0.50 earnings per share. As a group, equities analysts forecast that Pacific Gas & Electric Co. will post 1.65 EPS for the current fiscal year.

Pacific Gas & Electric Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, October 15th. Investors of record on Wednesday, September 30th were issued a dividend of $0.05 per share. The ex-dividend date was Wednesday, September 30th. This represents a $0.20 dividend on an annualized basis and a yield of 1.5%. Pacific Gas & Electric’s dividend payout ratio (DPR) is presently 14.81%.

Insider Activity at Pacific Gas & Electric

In other Pacific Gas & Electric news, Director William Fugate sold 6,500 shares of the business’s stock in a transaction that occurred on Friday, September 4th. The shares were sold at an average price of $13.76, for a total transaction of $89,440.00. Following the sale, the director owned 73,530 shares of the company’s stock, valued at approximately $1,011,772.80. The trade was a 8.12% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director John Larsen purchased 7,500 shares of the business’s stock in a transaction that occurred on Wednesday, September 30th. The stock was bought at an average cost of $12.20 per share, with a total value of $91,500.00. Following the acquisition, the director owned 36,685 shares in the company, valued at $447,557. This represents a 25.70% increase in their position. The SEC filing for this purchase provides additional information. Insiders own 0.22% of the company’s stock.

Institutional Trading of Pacific Gas & Electric

Institutional investors have recently made changes to their positions in the stock. Keating Financial Advisory Services Inc. bought a new stake in Pacific Gas & Electric in the 2nd quarter valued at $28,000. Performa Ltd US LLC purchased a new stake in shares of Pacific Gas & Electric in the third quarter worth approximately $43,000. Transamerica Financial Advisors LLC purchased a new stake in Pacific Gas & Electric during the second quarter worth about $57,000. CoreCap Advisors LLC grew its position in shares of Pacific Gas & Electric by 13.1% in the second quarter. CoreCap Advisors LLC now owns 5,843 shares of the utilities provider’s stock valued at $98,000 after purchasing an additional 677 shares in the last quarter. Finally, Versant Capital Management Inc raised its position in shares of Pacific Gas & Electric by 19.6% during the 2nd quarter. Versant Capital Management Inc now owns 6,636 shares of the utilities provider’s stock valued at $112,000 after buying an additional 1,088 shares in the last quarter. 78.56% of the stock is owned by hedge funds and other institutional investors.

About Pacific Gas & Electric

Pacific Gas and Electric Company (PG&E) is a regulated utility that provides electricity and natural gas to homes and businesses in Northern and Central California. Its services include generating, purchasing, transmitting and distributing electricity, as well as delivering natural gas through its pipeline network.

The utility is a subsidiary of PG&E Corporation, whose common stock trades on the New York Stock Exchange under the symbol PCG. The company traces its roots to California’s early gas and electric utilities and was incorporated in 1905.

PG&E’s service area includes communities in the San Francisco Bay Area, the Central Valley and other parts of Northern and Central California.