Pacific Gas & Electric Co. (PCG) PT Lowered to $61.00 at Evercore ISI

Pacific Gas & Electric Co. (NYSE:PCG) had its price target reduced by Evercore ISI from $66.00 to $61.00 in a report issued on Monday, October 16th.

Several other research analysts have also commented on PCG. BidaskClub lowered shares of Pacific Gas & Electric Co. from a hold rating to a sell rating in a research note on Wednesday, July 12th. J P Morgan Chase & Co raised their price objective on shares of Pacific Gas & Electric Co. from $74.00 to $76.00 and gave the company an overweight rating in a research note on Thursday, October 12th. Goldman Sachs Group, Inc. (The) lowered shares of Pacific Gas & Electric Co. from a conviction-buy rating to a buy rating and set a $65.00 price objective for the company. in a research note on Monday, October 16th. Mizuho reissued a buy rating and issued a $78.00 price objective on shares of Pacific Gas & Electric Co. in a research note on Monday, October 9th. Finally, ValuEngine raised shares of Pacific Gas & Electric Co. from a hold rating to a buy rating in a research note on Friday, September 1st. Five research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company’s stock. The stock presently has a consensus rating of Buy and a consensus price target of $67.85.

Pacific Gas & Electric Co. (NYSE:PCG) traded up 0.69% on Monday, hitting $57.13. 3,027,845 shares of the stock traded hands. The company’s 50 day moving average price is $66.02 and its 200-day moving average price is $67.27. Pacific Gas & Electric Co. has a 52-week low of $49.83 and a 52-week high of $71.57. The stock has a market cap of $29.30 billion, a price-to-earnings ratio of 14.09 and a beta of 0.22.

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

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The firm also recently announced a quarterly dividend, which was paid on Sunday, October 15th. Stockholders of record on Friday, September 29th were issued a $0.53 dividend. The ex-dividend date of this dividend was Thursday, September 28th. This represents a $2.12 dividend on an annualized basis and a dividend yield of 3.71%. Pacific Gas & Electric Co.’s payout ratio is 52.35%.

In other news, Director Roger H. Kimmel acquired 4,000 shares of the stock in a transaction that occurred on Tuesday, September 5th. The shares were purchased at an average cost of $69.68 per share, for a total transaction of $278,720.00. The acquisition was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, SVP Julie Kane sold 2,233 shares of Pacific Gas & Electric Co. stock in a transaction on Monday, August 14th. The shares were sold at an average price of $68.98, for a total transaction of $154,032.34. Following the completion of the transaction, the senior vice president now owns 10,751 shares in the company, valued at $741,603.98. The disclosure for this sale can be found here. Insiders sold a total of 4,915 shares of company stock worth $340,377 over the last ninety days. Corporate insiders own 0.15% of the company’s stock.

A number of large investors have recently bought and sold shares of PCG. BlackRock Inc. grew its position in Pacific Gas & Electric Co. by 2,407.4% in the 1st quarter. BlackRock Inc. now owns 36,985,297 shares of the utilities provider’s stock valued at $2,454,345,000 after buying an additional 35,510,230 shares during the last quarter. Vanguard Group Inc. boosted its position in shares of Pacific Gas & Electric Co. by 5.8% during the 1st quarter. Vanguard Group Inc. now owns 36,028,473 shares of the utilities provider’s stock worth $2,390,850,000 after purchasing an additional 1,961,671 shares in the last quarter. BlueCrest Capital Management Ltd purchased a new stake in shares of Pacific Gas & Electric Co. during the 1st quarter worth $25,674,000. Bank of America Corp DE boosted its position in shares of Pacific Gas & Electric Co. by 15.9% during the 1st quarter. Bank of America Corp DE now owns 2,694,973 shares of the utilities provider’s stock worth $178,838,000 after purchasing an additional 369,422 shares in the last quarter. Finally, Lazard Asset Management LLC boosted its position in shares of Pacific Gas & Electric Co. by 6.3% during the 1st quarter. Lazard Asset Management LLC now owns 5,498,982 shares of the utilities provider’s stock worth $364,911,000 after purchasing an additional 325,375 shares in the last quarter. Hedge funds and other institutional investors own 80.66% 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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