Pacific Gas & Electric Co. (NYSE:PCG) Research Coverage Started at Bank of America Corporation

Bank of America Corporation started coverage on shares of Pacific Gas & Electric Co. (NYSE:PCG) in a research report released on Tuesday, October 24th, MarketBeat reports. The brokerage issued a neutral rating and a $59.00 price objective on the utilities provider’s stock.

Other equities analysts also recently issued research reports about the stock. Evercore ISI cut their target price on shares of Pacific Gas & Electric Co. from $66.00 to $61.00 in a research note on Monday, October 16th. Goldman Sachs Group, Inc. (The) reissued a buy rating on shares of Pacific Gas & Electric Co. in a research note on Tuesday, June 27th. Mizuho reissued a buy rating and issued a $78.00 target price on shares of Pacific Gas & Electric Co. in a research note on Monday, October 9th. Jefferies Group LLC reissued a buy rating and issued a $75.00 target price on shares of Pacific Gas & Electric Co. in a research note on Friday, July 14th. Finally, Royal Bank Of Canada reaffirmed a buy rating and set a $70.00 price target on shares of Pacific Gas & Electric Co. in a report on Monday, September 18th. Four research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the stock. The stock has a consensus rating of Buy and a consensus price target of $67.77.

Pacific Gas & Electric Co. (PCG) opened at $56.95 on Tuesday. The company has a debt-to-equity ratio of 0.86, a quick ratio of 0.79 and a current ratio of 0.85. The firm has a market cap of $29,296.39, a P/E ratio of 13.03, a price-to-earnings-growth ratio of 3.69 and a beta of 0.17. Pacific Gas & Electric Co. has a one year low of $49.83 and a one year high of $71.57.

Pacific Gas & Electric Co. (NYSE:PCG) last posted its quarterly earnings results on Thursday, November 2nd. The utilities provider reported $1.12 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.94 by $0.18. Pacific Gas & Electric Co. had a net margin of 12.59% and a return on equity of 11.94%. The company had revenue of $4.52 billion for the quarter, compared to the consensus estimate of $4.82 billion. During the same quarter last year, the firm posted $0.94 earnings per share. Pacific Gas & Electric Co.’s revenue was down 6.1% on a year-over-year basis. equities analysts expect that Pacific Gas & Electric Co. will post 3.68 EPS for the current year.

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The firm also recently declared a quarterly dividend, which was paid on Sunday, October 15th. Stockholders of record on Friday, September 29th were issued a $0.53 dividend. This represents a $2.12 annualized dividend and a dividend yield of 3.72%. The ex-dividend date was Thursday, September 28th. Pacific Gas & Electric Co.’s dividend payout ratio (DPR) is presently 48.74%.

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

A number of large investors have recently modified their holdings of PCG. Teachers Advisors LLC lifted its position 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 valued at $105,143,000 after purchasing an additional 27,883 shares during the last quarter. Dimensional Fund Advisors LP lifted its position in Pacific Gas & Electric Co. by 4.5% in the 1st quarter. Dimensional Fund Advisors LP now owns 898,644 shares of the utilities provider’s stock valued at $59,634,000 after purchasing an additional 39,086 shares during the last quarter. Schwab Charles Investment Management Inc. lifted its position in Pacific Gas & Electric Co. by 6.3% in the 1st quarter. Schwab Charles Investment Management Inc. now owns 1,661,130 shares of the utilities provider’s stock valued at $110,233,000 after purchasing an additional 99,038 shares during the last quarter. Oppenheimer & Co. Inc. lifted its position in Pacific Gas & Electric Co. by 7.6% in the 1st quarter. Oppenheimer & Co. Inc. now owns 19,231 shares of the utilities provider’s stock valued at $1,276,000 after purchasing an additional 1,355 shares during the last quarter. Finally, Oppenheimer Asset Management Inc. bought a new stake in Pacific Gas & Electric Co. in the 1st quarter valued at about $118,000. Hedge funds and other institutional investors own 81.24% of the company’s stock.

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.

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

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