J P Morgan Chase & Co Reiterates $66.00 Price Target for Pacific Gas & Electric Co. (NYSE:PCG)

J P Morgan Chase & Co set a $66.00 price objective on Pacific Gas & Electric Co. (NYSE:PCG) in a research report released on Monday, October 16th. The firm currently has a buy rating on the utilities provider’s stock.

PCG has been the topic of several other research reports. Royal Bank Of Canada restated a buy rating and issued a $70.00 price target on shares of Pacific Gas & Electric Co. in a research note on Tuesday, August 15th. BidaskClub upgraded Pacific Gas & Electric Co. from a sell rating to a hold rating in a research note on Tuesday, July 25th. Jefferies Group LLC restated a buy rating and issued a $75.00 price target on shares of Pacific Gas & Electric Co. in a research note on Friday, July 14th. Mizuho restated a buy rating and issued a $74.00 price target on shares of Pacific Gas & Electric Co. in a research note on Thursday, July 13th. Finally, BMO Capital Markets restated a hold rating and issued a $69.00 price target on shares of Pacific Gas & Electric Co. in a research note on Thursday, July 13th. Five equities research analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. Pacific Gas & Electric Co. presently has a consensus rating of Buy and a consensus price target of $67.85.

Pacific Gas & Electric Co. (NYSE PCG) opened at 57.13 on Monday. The firm has a market cap of $29.30 billion, a P/E ratio of 14.09 and a beta of 0.22. The firm’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.

Pacific Gas & Electric Co. (NYSE:PCG) last announced its earnings results on Thursday, July 27th. The utilities provider reported $0.86 earnings per share (EPS) for the quarter, topping the consensus estimate 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 firm had revenue of $4.25 billion during the quarter, compared to analyst estimates of $4.34 billion. During the same quarter in the prior year, the company earned $0.66 EPS. The business’s revenue was up 1.9% compared to the same quarter last year. Equities research 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 Sunday, October 15th. Stockholders of record on Friday, September 29th were paid a $0.53 dividend. The ex-dividend date 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 dividend payout ratio (DPR) is currently 52.35%.

In other news, Director Roger H. Kimmel purchased 4,000 shares of the company’s stock in a transaction dated 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 transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, COO Nickolas Stavropoulos sold 1,101 shares of the firm’s stock in a transaction on Tuesday, August 22nd. The stock was sold at an average price of $69.43, for a total value of $76,442.43. Following the completion of the transaction, the chief operating officer now directly owns 63,661 shares in the company, valued at $4,419,983.23. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 4,915 shares of company stock worth $340,377. Company insiders own 0.15% of the company’s stock.

A number of institutional investors have recently made changes to their positions in PCG. Teachers Advisors LLC raised its holdings in Pacific Gas & Electric Co. by 1.8% in the 1st quarter. Teachers Advisors LLC now owns 1,584,436 shares of the utilities provider’s stock worth $105,143,000 after purchasing an additional 27,883 shares during the period. Pictet North America Advisors SA raised its holdings in Pacific Gas & Electric Co. by 7.0% in the 1st quarter. Pictet North America Advisors SA now owns 8,558 shares of the utilities provider’s stock worth $568,000 after purchasing an additional 561 shares during the period. Cleararc Capital Inc. raised its holdings in Pacific Gas & Electric Co. by 0.7% in the 1st quarter. Cleararc Capital Inc. now owns 12,386 shares of the utilities provider’s stock worth $822,000 after purchasing an additional 84 shares during the period. Banque Pictet & Cie SA raised its holdings in Pacific Gas & Electric Co. by 7.0% in the 1st quarter. Banque Pictet & Cie SA now owns 8,558 shares of the utilities provider’s stock worth $568,000 after purchasing an additional 561 shares during the period. Finally, Global X Management Co. LLC raised its holdings in Pacific Gas & Electric Co. by 32.2% in the 1st quarter. Global X Management Co. LLC now owns 7,550 shares of the utilities provider’s stock worth $501,000 after purchasing an additional 1,839 shares during the period. 80.66% of the stock is currently owned by institutional investors.

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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