Analysts Set Pacific Gas & Electric Co. (NYSE:PCG) Price Target at $20.05

Pacific Gas & Electric Co. (NYSE:PCG) has received a consensus rating of “Hold” from the thirteen research firms that are presently covering the firm, MarketBeat.com reports. Seven investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. The average twelve-month target price among brokers that have issued a report on the stock in the last year is $20.05.

PCG has been the subject of a number of research reports. Jefferies Financial Group set a $20.00 price target on shares of Pacific Gas & Electric in a report on Friday, October 3rd. UBS Group reduced their target price on shares of Pacific Gas & Electric from $19.00 to $17.00 and set a “neutral” rating for the company in a research note on Thursday, September 18th. Zacks Research upgraded Pacific Gas & Electric from a “strong sell” rating to a “hold” rating in a research note on Monday, August 18th. Argus upgraded Pacific Gas & Electric to a “hold” rating in a research report on Monday, June 16th. Finally, Morgan Stanley decreased their price objective on Pacific Gas & Electric from $20.00 to $19.50 and set an “equal weight” rating on the stock in a report on Thursday, September 25th.

Hedge Funds Weigh In On Pacific Gas & Electric

Hedge funds and other institutional investors have recently made changes to their positions in the business. Sessa Capital IM L.P. bought a new stake in Pacific Gas & Electric in the first quarter valued at about $320,984,000. Canada Pension Plan Investment Board boosted its holdings in Pacific Gas & Electric by 352.3% during the first quarter. Canada Pension Plan Investment Board now owns 19,172,519 shares of the utilities provider’s stock valued at $329,384,000 after purchasing an additional 14,933,364 shares in the last quarter. AQR Capital Management LLC boosted its holdings in Pacific Gas & Electric by 317.2% during the first quarter. AQR Capital Management LLC now owns 16,464,333 shares of the utilities provider’s stock valued at $280,305,000 after purchasing an additional 12,518,011 shares in the last quarter. ATLAS Infrastructure Partners UK Ltd. grew its stake in shares of Pacific Gas & Electric by 193.4% in the 1st quarter. ATLAS Infrastructure Partners UK Ltd. now owns 10,428,328 shares of the utilities provider’s stock valued at $179,159,000 after purchasing an additional 6,873,576 shares during the period. Finally, Vanguard Group Inc. raised its holdings in shares of Pacific Gas & Electric by 1.2% in the 1st quarter. Vanguard Group Inc. now owns 257,285,352 shares of the utilities provider’s stock worth $4,420,162,000 after buying an additional 2,926,384 shares in the last quarter. 78.56% of the stock is owned by institutional investors.

Pacific Gas & Electric Price Performance

Shares of NYSE:PCG opened at $15.86 on Tuesday. The company has a market cap of $42.42 billion, a price-to-earnings ratio of 14.55, a PEG ratio of 1.18 and a beta of 0.58. The business has a 50 day moving average price of $15.25 and a 200 day moving average price of $15.50. The company has a quick ratio of 0.89, a current ratio of 0.94 and a debt-to-equity ratio of 1.81. Pacific Gas & Electric has a twelve month low of $12.97 and a twelve month high of $21.72.

Pacific Gas & Electric (NYSE:PCG) last issued its quarterly earnings results on Monday, May 15th. The utilities provider reported $0.30 EPS for the quarter. The company had revenue of $5.80 billion during the quarter. Pacific Gas & Electric had a return on equity of 10.13% and a net margin of 9.95%. Research analysts predict that Pacific Gas & Electric will post 1.49 earnings per share for the current year.

Pacific Gas & Electric Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, October 15th. Shareholders of record on Tuesday, September 30th will be issued a $0.025 dividend. This represents a $0.10 annualized dividend and a yield of 0.6%. The ex-dividend date of this dividend is Tuesday, September 30th. Pacific Gas & Electric’s payout ratio is 9.17%.

Pacific Gas & Electric Company Profile

PG&E Corp. operates as a holding company, which engages in generation, transmission, and distribution of electricity and natural gas to customers. It specializes in energy, utility, power, gas, electricity, solar and sustainability. The company was founded in 1995 and is headquartered in Oakland, CA.