Pacific Gas & Electric’s (PCG) “Hold” Rating Reaffirmed at Jefferies Financial Group
by Kim Johansen · The Markets DailyPacific Gas & Electric (NYSE:PCG – Get Free Report)‘s stock had its “hold” rating reaffirmed by equities researchers at Jefferies Financial Group in a research note issued on Monday,Benzinga reports. They currently have a $19.00 price target on the utilities provider’s stock, down from their prior price target of $20.00. Jefferies Financial Group’s target price points to a potential upside of 9.48% from the stock’s previous close.
Several other analysts also recently issued reports on PCG. Wells Fargo & Company upped their price target 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. Wall Street Zen downgraded Pacific Gas & Electric from a “buy” rating to a “hold” rating in a research note on Saturday, February 14th. Mizuho set a $21.00 target price on Pacific Gas & Electric in a report on Wednesday, January 21st. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Pacific Gas & Electric in a research report on Monday, December 29th. Finally, Morgan Stanley set a $23.00 price target on Pacific Gas & Electric in a report on Friday, February 20th. Seven analysts have rated the stock with a Buy rating, six have issued a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $21.27.
Get Our Latest Report on Pacific Gas & Electric
Pacific Gas & Electric Stock Down 4.6%
PCG stock opened at $17.36 on Monday. 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 1 year low of $12.97 and a 1 year high of $19.16. The company has a fifty day simple moving average of $17.08 and a 200 day simple moving average of $16.23. The firm has a market cap of $38.15 billion, a PE ratio of 14.71, a PEG ratio of 0.66 and a beta of 0.33.
Pacific Gas & Electric (NYSE:PCG – Get Free Report) last issued its quarterly earnings data on Wednesday, February 11th. The utilities provider reported $0.36 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.36. The firm had revenue of $6.80 billion during the quarter, compared to analysts’ expectations 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 period in the prior year, the company posted $0.31 earnings per share. Sell-side analysts anticipate that Pacific Gas & Electric will post 1.49 EPS for the current fiscal year.
Insider Transactions at Pacific Gas & Electric
In related news, Director Kerry Whorton Cooper sold 2,500 shares of the stock in a transaction that occurred on Tuesday, March 17th. The stock was sold at an average price of $18.68, for a total transaction of $46,700.00. Following the completion of the sale, the director owned 73,141 shares in the company, valued at $1,366,273.88. This represents a 3.31% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, EVP Carla J. Peterman sold 31,786 shares of the firm’s stock in a transaction that occurred on Monday, March 16th. The shares were sold at an average price of $18.31, for a total value of $582,001.66. Following the completion of the sale, the executive vice president directly owned 195,091 shares in the company, valued at $3,572,116.21. This trade represents a 14.01% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last ninety days, insiders have sold 84,286 shares of company stock worth $1,528,746. Company insiders own 0.15% of the company’s stock.
Institutional Inflows and Outflows
A number of large investors have recently modified their holdings of PCG. Dynamic Technology Lab Private Ltd bought a new position in Pacific Gas & Electric during the first quarter worth $203,000. Empowered Funds LLC boosted its holdings in Pacific Gas & Electric by 16.4% in the 1st quarter. Empowered Funds LLC now owns 46,936 shares of the utilities provider’s stock valued at $806,000 after purchasing an additional 6,601 shares during the period. Woodline Partners LP grew its position in Pacific Gas & Electric by 41.2% in the 1st quarter. Woodline Partners LP now owns 185,324 shares of the utilities provider’s stock worth $3,184,000 after purchasing an additional 54,033 shares during the last quarter. Focus Partners Wealth grew its position in Pacific Gas & Electric by 93.0% in the 1st quarter. Focus Partners Wealth now owns 83,816 shares of the utilities provider’s stock worth $1,440,000 after purchasing an additional 40,380 shares during the last quarter. Finally, Handelsbanken Fonder AB bought a new position in shares of Pacific Gas & Electric during the 2nd quarter worth about $1,298,000. 78.56% of the stock is currently owned by institutional investors and hedge funds.
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.