Pacific Gas & Electric (NYSE:PCG) Rating Lowered to “Hold” at Wall Street Zen

by · The Cerbat Gem

Pacific Gas & Electric (NYSE:PCG – Get Free Report) was downgraded by equities researchers at Wall Street Zen from a “buy” rating to a “hold” rating in a research note issued to investors on Sunday.

Several other equities research analysts have also commented on the company. Wells Fargo & Company upgraded Pacific Gas & Electric to a “strong-buy” rating in a research report on Tuesday, October 28th. Morgan Stanley set a $21.00 price objective on Pacific Gas & Electric and gave the company an “outperform” rating in a report on Wednesday, October 22nd. Cowen began coverage on shares of Pacific Gas & Electric in a report on Wednesday, October 15th. They set a “buy” rating on the stock. Barclays lifted their price objective on Pacific Gas & Electric from $20.00 to $21.00 and gave the company an “overweight” rating in a research note on Wednesday, October 1st. Finally, Zacks Research upgraded Pacific Gas & Electric from a “strong sell” rating to a “hold” rating in a report on Monday, August 18th. Two equities research analysts have rated the stock with a Strong Buy rating, seven have assigned a Buy rating and six have assigned a Hold rating to the company’s stock. According to MarketBeat.com, Pacific Gas & Electric currently has an average rating of “Moderate Buy” and an average target price of $20.64.

Read Our Latest Report on PCG

Pacific Gas & Electric Trading Up 0.4%

Shares of PCG stock opened at $16.58 on Friday. The company has a market cap of $36.44 billion, a PE ratio of 13.93, a price-to-earnings-growth ratio of 0.66 and a beta of 0.59. Pacific Gas & Electric has a 1 year low of $12.97 and a 1 year high of $21.72. The stock’s 50 day simple moving average is $15.73 and its two-hundred day simple moving average is $15.39. The company has a debt-to-equity ratio of 1.81, a current ratio of 0.94 and a quick ratio of 0.89.

Pacific Gas & Electric (NYSE:PCG – Get Free Report) last posted its quarterly earnings data on Monday, May 15th. The utilities provider reported $0.30 earnings per share for the quarter. Pacific Gas & Electric had a net margin of 10.93% and a return on equity of 11.10%. The company had revenue of $5.80 billion for the quarter. Research analysts predict that Pacific Gas & Electric will post 1.49 earnings per share for the current year.

Insider Transactions at Pacific Gas & Electric

In related news, Director John O. Larsen acquired 7,500 shares of Pacific Gas & Electric stock in a transaction on Tuesday, November 4th. The shares were bought at an average price of $15.96 per share, for a total transaction of $119,700.00. Following the completion of the purchase, the director directly owned 18,111 shares in the company, valued at $289,051.56. This trade represents a 70.68% increase in their position. The purchase was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 0.14% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Pacific Gas & Electric

A number of large investors have recently bought and sold shares of the business. Plato Investment Management Ltd raised its holdings in Pacific Gas & Electric by 278.2% in the 1st quarter. Plato Investment Management Ltd now owns 86,665 shares of the utilities provider’s stock valued at $1,505,000 after acquiring an additional 63,747 shares during the period. Strs Ohio grew its position in shares of Pacific Gas & Electric by 23.6% in the second quarter. Strs Ohio now owns 1,174,404 shares of the utilities provider’s stock valued at $16,371,000 after purchasing an additional 223,904 shares during the last quarter. Silver Point Capital L.P. acquired a new position in shares of Pacific Gas & Electric in the first quarter valued at approximately $42,091,000. Cresset Asset Management LLC increased its stake in shares of Pacific Gas & Electric by 76.6% during the first quarter. Cresset Asset Management LLC now owns 24,692 shares of the utilities provider’s stock worth $425,000 after purchasing an additional 10,711 shares during the period. Finally, Alliancebernstein L.P. lifted its holdings in Pacific Gas & Electric by 2.0% during the 1st quarter. Alliancebernstein L.P. now owns 2,382,058 shares of the utilities provider’s stock worth $40,924,000 after purchasing an additional 45,806 shares during the last quarter. Institutional investors own 78.56% of the company’s stock.

About Pacific Gas & Electric

(Get Free Report)

PG&E Corp. operates as a holding company, which engages in generation, transmission, and distribution of electricity and natural gas to customers. It specializes in energy, utility, power, gas, electricity, solar and sustainability. The company was founded in 1995 and is headquartered in Oakland, CA.

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