Pacific Gas & Electric Co. (NYSE:PCG) Upgraded to Hold at BidaskClub

Pacific Gas & Electric Co. (NYSE:PCG) was upgraded by stock analysts at BidaskClub from a “sell” rating to a “hold” rating in a research note issued to investors on Tuesday, July 25th.

PCG has been the subject of a number of other reports. Citigroup Inc. upped their price target on Pacific Gas & Electric Co. from $62.00 to $66.00 and gave the stock a “neutral” rating in a report on Tuesday, April 25th. Jefferies Group LLC restated a “buy” rating and set a $71.00 price objective on shares of Pacific Gas & Electric Co. in a research report on Thursday, April 20th. Zacks Investment Research cut Pacific Gas & Electric Co. from a “buy” rating to a “hold” rating in a research report on Friday, April 28th. Royal Bank Of Canada set a $70.00 price objective on Pacific Gas & Electric Co. and gave the company a “buy” rating in a research report on Saturday, June 3rd. Finally, Deutsche Bank AG boosted their price objective on Pacific Gas & Electric Co. from $67.00 to $69.00 and gave the company a “buy” rating in a research report on Tuesday, April 11th. Six investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. The company currently has an average rating of “Buy” and a consensus price target of $69.60.

Pacific Gas & Electric Co. (PCG) traded down 0.16% during mid-day trading on Tuesday, hitting $69.02. 2,199,929 shares of the stock were exchanged. The company has a market cap of $35.39 billion, a P/E ratio of 17.02 and a beta of 0.21. The company has a 50-day moving average price of $67.22 and a 200-day moving average price of $66.39. Pacific Gas & Electric Co. has a one year low of $57.60 and a one year high of $70.32.

Pacific Gas & Electric Co. (NYSE:PCG) last issued its quarterly earnings results on Thursday, July 27th. The utilities provider reported $0.86 EPS for the quarter, topping analysts’ consensus estimates of $0.79 by $0.07. Pacific Gas & Electric Co. had a return on equity of 11.63% and a net margin of 11.48%. The company had revenue of $4.25 billion during the quarter, compared to analyst estimates of $4.34 billion. During the same period in the previous year, the company earned $0.66 earnings per share. The company’s quarterly revenue was up 1.9% compared to the same quarter last year. On average, analysts predict that Pacific Gas & Electric Co. will post $3.67 earnings per share for the current fiscal year.

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In other Pacific Gas & Electric Co. news, COO Nickolas Stavropoulos sold 11,085 shares of the company’s stock in a transaction on Friday, May 26th. The stock was sold at an average price of $67.37, for a total value of $746,796.45. Following the sale, the chief operating officer now directly owns 68,268 shares in the company, valued at $4,599,215.16. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 0.15% of the company’s stock.

A number of hedge funds have recently made changes to their positions in PCG. First Foundation Advisors boosted its stake in shares of Pacific Gas & Electric Co. by 0.4% in the first quarter. First Foundation Advisors now owns 4,258 shares of the utilities provider’s stock worth $283,000 after buying an additional 16 shares during the period. Guardian Life Insurance Co. of America boosted its stake in shares of Pacific Gas & Electric Co. by 1.1% in the first quarter. Guardian Life Insurance Co. of America now owns 1,958 shares of the utilities provider’s stock worth $130,000 after buying an additional 21 shares during the period. Transamerica Financial Advisors Inc. boosted its stake in shares of Pacific Gas & Electric Co. by 0.4% in the first quarter. Transamerica Financial Advisors Inc. now owns 9,448 shares of the utilities provider’s stock worth $627,000 after buying an additional 36 shares during the period. Mackenzie Financial Corp boosted its stake in shares of Pacific Gas & Electric Co. by 1.1% in the first quarter. Mackenzie Financial Corp now owns 3,803 shares of the utilities provider’s stock worth $252,000 after buying an additional 43 shares during the period. Finally, Stratos Wealth Partners LTD. boosted its stake in shares of Pacific Gas & Electric Co. by 1.2% in the first quarter. Stratos Wealth Partners LTD. now owns 4,800 shares of the utilities provider’s stock worth $319,000 after buying an additional 59 shares during the period. Hedge funds and other institutional investors own 81.28% of the company’s stock.

About Pacific Gas & Electric Co.

PG&E Corporation is a holding company. The Company’s primary operating subsidiary is Pacific Gas and Electric Company (the Utility), which operates in northern and central California. The Utility is engaged in the sale and delivery of electricity and natural gas to customers. The Utility generates electricity and provides electricity transmission and distribution services throughout its service territory in northern and central California to residential, commercial, industrial, and agricultural customers.

Analyst Recommendations for Pacific Gas & Electric Co. (NYSE:PCG)

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