Pacific Gas & Electric Co.’s (NYSE:PCG) Buy Rating Reiterated at Jefferies Group LLC

Jefferies Group LLC restated their buy rating on shares of Pacific Gas & Electric Co. (NYSE:PCG) in a report issued on Friday. They currently have a $75.00 price target on the utilities provider’s stock.

A number of other research analysts also recently weighed in on PCG. Deutsche Bank AG increased their price objective on shares of 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. Mizuho restated a buy rating and set a $74.00 price objective on shares of Pacific Gas & Electric Co. in a research report on Wednesday, April 19th. Citigroup Inc increased their price target on shares of Pacific Gas & Electric Co. from $62.00 to $66.00 and gave the stock a neutral rating in a research report on Tuesday, April 25th. Zacks Investment Research upgraded shares of Pacific Gas & Electric Co. from a hold rating to a buy rating and set a $76.00 price target on the stock in a research report on Wednesday, April 26th. Finally, BMO Capital Markets reiterated a hold rating and issued a $69.00 price target on shares of Pacific Gas & Electric Co. in a research report on Wednesday, May 3rd. One investment analyst has rated the stock with a sell rating, five have issued a hold rating and seven have given a buy rating to the stock. The company has an average rating of Hold and an average target price of $70.36.

Pacific Gas & Electric Co. (NYSE PCG) traded up 0.23% during midday trading on Friday, hitting $66.63. 2,090,751 shares of the company were exchanged. The stock has a 50 day moving average of $67.54 and a 200-day moving average of $65.07. Pacific Gas & Electric Co. has a 1-year low of $57.60 and a 1-year high of $70.32. The stock has a market capitalization of $34.05 billion, a price-to-earnings ratio of 18.08 and a beta of 0.21.

Pacific Gas & Electric Co. (NYSE:PCG) last issued its quarterly earnings data on Tuesday, May 2nd. The utilities provider reported $1.06 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.83 by $0.23. The company had revenue of $4.27 billion for the quarter, compared to the consensus estimate of $4.15 billion. Pacific Gas & Electric Co. had a net margin of 10.42% and a return on equity of 11.33%. During the same quarter in the prior year, the firm earned $0.82 earnings per share. Equities analysts expect that Pacific Gas & Electric Co. will post $3.67 earnings per share for the current year.

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The company also recently disclosed a quarterly dividend, which was paid on Saturday, July 15th. Stockholders of record on Friday, June 30th were given a dividend of $0.53 per share. This represents a $2.12 annualized dividend and a dividend yield of 3.18%. This is an increase from Pacific Gas & Electric Co.’s previous quarterly dividend of $0.49. The ex-dividend date of this dividend was Wednesday, June 28th. Pacific Gas & Electric Co.’s dividend payout ratio (DPR) is presently 57.77%.

In other news, COO Nickolas Stavropoulos sold 11,085 shares of the firm’s stock in a transaction on Friday, May 26th. The shares were sold at an average price of $67.37, for a total transaction of $746,796.45. Following the sale, the chief operating officer now directly owns 68,268 shares in the company, valued at approximately $4,599,215.16. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.15% of the stock is owned by company insiders.

A number of institutional investors have recently bought and sold shares of PCG. Harbour Capital Advisors LLC bought a new position in Pacific Gas & Electric Co. during the first quarter valued at $100,000. Oppenheimer Asset Management Inc. bought a new position in Pacific Gas & Electric Co. during the first quarter valued at $118,000. Assetmark Inc. boosted its position in Pacific Gas & Electric Co. by 8.8% in the first quarter. Assetmark Inc. now owns 1,949 shares of the utilities provider’s stock valued at $129,000 after buying an additional 157 shares during the last quarter. Guardian Life Insurance Co. of America boosted its position in 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 valued at $130,000 after buying an additional 21 shares during the last quarter. Finally, Shepherd Financial Partners LLC bought a new position in Pacific Gas & Electric Co. during the first quarter valued at $201,000. 81.39% of the stock is owned by institutional investors.

Pacific Gas & Electric Co. Company Profile

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.