Jefferies Group LLC reissued their buy rating on shares of Pacific Gas & Electric Co. (NYSE:PCG) in a research report released on Friday, July 14th. The brokerage currently has a $75.00 price objective on the utilities provider’s stock.
Other analysts have also recently issued reports about the stock. Royal Bank Of Canada set a $70.00 price target on shares of Pacific Gas & Electric Co. and gave the stock a buy rating in a report on Saturday, June 3rd. Wolfe Research cut shares of Pacific Gas & Electric Co. from an outperform rating to a market perform rating in a report on Thursday, May 11th. BMO Capital Markets restated a hold rating and set a $69.00 price target on shares of Pacific Gas & Electric Co. in a report on Wednesday, May 3rd. Mizuho restated a buy rating and set a $74.00 price target on shares of Pacific Gas & Electric Co. in a report on Thursday, July 13th. Finally, Citigroup Inc. raised 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 report on Tuesday, April 25th. Six equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. The stock currently has an average rating of Buy and a consensus target price of $69.50.
Pacific Gas & Electric Co. (NYSE:PCG) traded down 0.15% during trading on Friday, reaching $67.45. 1,423,527 shares of the company’s stock were exchanged. The company’s 50 day moving average price is $67.21 and its 200-day moving average price is $65.82. The stock has a market capitalization of $34.47 billion, a price-to-earnings ratio of 18.30 and a beta of 0.21. Pacific Gas & Electric Co. has a 52 week low of $57.60 and a 52 week high of $70.32.
Pacific Gas & Electric Co. (NYSE:PCG) last posted its quarterly earnings results on Thursday, July 27th. The utilities provider reported $0.86 EPS for the quarter, topping the consensus estimate of $0.79 by $0.07. The business had revenue of $4.25 billion during the quarter, compared to analysts’ expectations of $4.34 billion. Pacific Gas & Electric Co. had a net margin of 10.42% and a return on equity of 11.33%. The firm’s quarterly revenue was up 1.9% compared to the same quarter last year. During the same period last year, the company posted $0.66 earnings per share. On average, equities analysts expect that Pacific Gas & Electric Co. will post $3.67 EPS for the current year.
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The company also recently declared a quarterly dividend, which was paid on Saturday, July 15th. Stockholders of record on Friday, June 30th were given a $0.53 dividend. This is a positive change from Pacific Gas & Electric Co.’s previous quarterly dividend of $0.49. The ex-dividend date of this dividend was Wednesday, June 28th. This represents a $2.12 dividend on an annualized basis and a dividend yield of 3.14%. Pacific Gas & Electric Co.’s dividend payout ratio (DPR) is currently 57.77%.
In other news, COO Nickolas Stavropoulos sold 11,085 shares of Pacific Gas & Electric Co. stock in a transaction that occurred on Friday, May 26th. The shares were sold at an average price of $67.37, for a total value of $746,796.45. Following the transaction, the chief operating officer now owns 68,268 shares of the company’s stock, valued at $4,599,215.16. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Company insiders own 0.15% of the company’s stock.
Several institutional investors have recently added to or reduced their stakes in the stock. Country Trust Bank raised its position in shares of Pacific Gas & Electric Co. by 0.3% in the second quarter. Country Trust Bank now owns 218,660 shares of the utilities provider’s stock worth $14,512,000 after buying an additional 620 shares during the period. Strs Ohio raised its position in shares of Pacific Gas & Electric Co. by 0.3% in the second quarter. Strs Ohio now owns 310,310 shares of the utilities provider’s stock worth $20,595,000 after buying an additional 965 shares during the period. Russell Investments Group Ltd. raised its position in shares of Pacific Gas & Electric Co. by 3.4% in the second quarter. Russell Investments Group Ltd. now owns 2,111,145 shares of the utilities provider’s stock worth $140,089,000 after buying an additional 69,556 shares during the period. Quantitative Systematic Strategies LLC raised its position in shares of Pacific Gas & Electric Co. by 114.7% in the second quarter. Quantitative Systematic Strategies LLC now owns 8,692 shares of the utilities provider’s stock worth $575,000 after buying an additional 4,643 shares during the period. Finally, Aperio Group LLC raised its position in shares of Pacific Gas & Electric Co. by 7.0% in the second quarter. Aperio Group LLC now owns 343,548 shares of the utilities provider’s stock worth $22,801,000 after buying an additional 22,524 shares during the period. 81.44% of the stock is currently 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.
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