Pacific Gas & Electric (NYSE:PCG) Raised to Strong-Buy at TD Cowen

Pacific Gas & Electric (NYSE:PCG) was upgraded by investment analysts at TD Cowen to a “strong-buy” rating in a research report issued on Wednesday,Zacks.com reports.

Other research analysts also recently issued research reports about the stock. Jefferies Financial Group set a $20.00 price target on shares of Pacific Gas & Electric in a research note on Friday, October 3rd. Morgan Stanley decreased their price target on shares of Pacific Gas & Electric from $20.00 to $19.50 and set an “equal weight” rating for the company in a research note on Thursday, September 25th. UBS Group decreased their price target 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 shares of Pacific Gas & Electric from a “strong sell” rating to a “hold” rating in a research note on Monday, August 18th. Finally, Barclays lifted their price target on shares of Pacific Gas & Electric from $20.00 to $21.00 and gave the stock an “overweight” rating in a research note on Wednesday, October 1st. One investment analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating and seven have given a Hold rating to the company. Based on data from MarketBeat, Pacific Gas & Electric has an average rating of “Moderate Buy” and a consensus target price of $20.41.

Pacific Gas & Electric Stock Down 1.1%

Shares of PCG opened at $16.50 on Wednesday. The stock has a market capitalization of $44.15 billion, a PE ratio of 15.14, a P/E/G ratio of 1.25 and a beta of 0.58. Pacific Gas & Electric has a 1 year low of $12.97 and a 1 year high of $21.72. The company has a debt-to-equity ratio of 1.81, a quick ratio of 0.89 and a current ratio of 0.94. The company’s 50-day simple moving average is $15.35 and its 200-day simple moving average is $15.49.

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

Institutional Trading of Pacific Gas & Electric

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Sessa Capital IM L.P. acquired a new position in shares of Pacific Gas & Electric in the 1st quarter valued at $320,984,000. Canada Pension Plan Investment Board increased its holdings in shares of Pacific Gas & Electric by 352.3% in the 1st quarter. Canada Pension Plan Investment Board now owns 19,172,519 shares of the utilities provider’s stock valued at $329,384,000 after acquiring an additional 14,933,364 shares during the period. AQR Capital Management LLC increased its holdings in shares of Pacific Gas & Electric by 317.2% in the 1st quarter. AQR Capital Management LLC now owns 16,464,333 shares of the utilities provider’s stock valued at $280,305,000 after acquiring an additional 12,518,011 shares during the period. ATLAS Infrastructure Partners UK Ltd. increased its holdings 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 acquiring an additional 6,873,576 shares during the period. Finally, Vanguard Group Inc. increased 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 valued at $4,420,162,000 after acquiring an additional 2,926,384 shares during the period. Institutional investors and hedge funds own 78.56% of the company’s stock.

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.