Morgan Stanley Lowers Pacific Gas & Electric (NYSE:PCG) Price Target to $20.00

Pacific Gas & Electric (NYSE:PCG) had its price target cut by equities research analysts at Morgan Stanley from $22.00 to $20.00 in a research note issued on Friday, Benzinga reports. The firm currently has an “equal weight” rating on the utilities provider’s stock. Morgan Stanley’s target price indicates a potential upside of 50.77% from the company’s current price.

A number of other equities analysts have also recently weighed in on the company. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Pacific Gas & Electric in a report on Tuesday, September 1st. BMO Capital Markets restated a “market perform” rating and issued a $21.00 price objective (down from $28.00) on shares of Pacific Gas & Electric in a research report on Monday, August 31st. UBS Group reaffirmed a “neutral” rating on shares of Pacific Gas & Electric in a research note on Friday. Truist Financial lowered Pacific Gas & Electric from a “buy” rating to a “hold” rating and decreased their target price for the company from $21.00 to $17.00 in a research report on Thursday, September 3rd. Finally, Barclays dropped their price target on shares of Pacific Gas & Electric from $23.00 to $18.00 and set an “overweight” rating on the stock in a research note on Thursday, September 3rd. Three investment analysts have rated the stock with a Buy rating and nine have issued a Hold rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $18.09.

Pacific Gas & Electric Stock Performance

Pacific Gas & Electric stock traded down $0.12 during mid-day trading on Friday, hitting $13.27. The company had a trading volume of 8,896,324 shares, compared to its average volume of 25,190,631. The company has a current ratio of 1.22, a quick ratio of 1.15 and a debt-to-equity ratio of 1.90. Pacific Gas & Electric has a 12-month low of $12.59 and a 12-month high of $19.16. The company’s fifty day moving average is $16.52 and its 200-day moving average is $16.92. The company has a market capitalization of $35.55 billion, a price-to-earnings ratio of 9.61, a P/E/G ratio of 1.07 and a beta of 0.24.

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

Insider Activity at Pacific Gas & Electric

In related news, Director William Fugate sold 6,500 shares of the stock in a transaction on Friday, September 4th. The stock was sold at an average price of $13.76, for a total value of $89,440.00. Following the completion of the transaction, the director directly owned 73,530 shares of the company’s stock, valued at approximately $1,011,772.80. This represents a 8.12% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Marlene Santos sold 158,250 shares of the firm’s stock in a transaction on Wednesday, July 22nd. The shares were sold at an average price of $18.00, for a total value of $2,848,500.00. Following the completion of the transaction, the executive vice president owned 230,885 shares in the company, valued at $4,155,930. The trade was a 40.67% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last 90 days, insiders sold 166,000 shares of company stock worth $2,960,440. Company insiders own 0.22% of the company’s stock.

Hedge Funds Weigh In On Pacific Gas & Electric

Hedge funds and other institutional investors have recently modified their holdings of the business. Fox Hill Wealth Management acquired a new stake in Pacific Gas & Electric in the 2nd quarter valued at about $1,818,000. Rakuten Investment Management Inc. purchased a new stake in shares of Pacific Gas & Electric in the second quarter valued at approximately $6,210,000. Glenview Trust Co acquired a new stake in shares of Pacific Gas & Electric in the second quarter valued at approximately $208,000. Empowered Funds LLC acquired a new stake in shares of Pacific Gas & Electric in the second quarter valued at approximately $8,566,000. Finally, United Capital Financial Advisors LLC purchased a new position in Pacific Gas & Electric during the second quarter worth approximately $807,000. 78.56% of the stock is owned by hedge funds and other institutional investors.

About Pacific Gas & Electric

Pacific Gas & Electric Corporation (NYSE: PCG) is an energy holding company whose principal subsidiary, Pacific Gas and Electric Company, provides regulated electricity and natural gas services. The utility delivers electricity through its transmission and distribution networks and supplies natural gas to residential, commercial, industrial and agricultural customers.

Pacific Gas and Electric Company serves a large portion of Northern and Central California, including the San Francisco Bay Area and the Central Valley.