Pacific Gas & Electric (NYSE:PCG) Price Target Cut to $21.00 by Analysts at JPMorgan Chase & Co.

Pacific Gas & Electric (NYSE:PCG) had its target price decreased by equities research analysts at JPMorgan Chase & Co. from $22.00 to $21.00 in a research note issued to investors on Friday,Benzinga reports. The brokerage currently has an “overweight” rating on the utilities provider’s stock. JPMorgan Chase & Co.‘s price objective suggests a potential upside of 38.55% from the company’s previous close.

A number of other equities research analysts have also recently commented on PCG. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Pacific Gas & Electric in a report on Monday. Cowen reaffirmed a “buy” rating on shares of Pacific Gas & Electric in a research report on Thursday, December 4th. TD Cowen assumed coverage on Pacific Gas & Electric in a report on Thursday, October 16th. They issued a “buy” rating and a $21.00 price objective for the company. Wall Street Zen cut Pacific Gas & Electric from a “buy” rating to a “hold” rating in a research note on Sunday, November 9th. Finally, Jefferies Financial Group upped their price objective on shares of Pacific Gas & Electric from $20.00 to $21.00 and gave the company a “buy” rating in a report on Wednesday, October 22nd. Two equities research analysts have rated the stock with a Strong Buy rating, seven have issued a Buy rating and six have assigned a Hold rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $20.55.

Pacific Gas & Electric Stock Performance

Shares of PCG traded up $0.33 on Friday, reaching $15.16. 18,228,584 shares of the company’s stock traded hands, compared to its average volume of 23,841,570. The stock’s 50 day simple moving average is $16.05 and its two-hundred day simple moving average is $15.19. The stock has a market cap of $33.31 billion, a PE ratio of 12.74, a PEG ratio of 0.63 and a beta of 0.37. Pacific Gas & Electric has a 52-week low of $12.97 and a 52-week high of $20.43. The company has a current ratio of 0.94, a quick ratio of 0.89 and a debt-to-equity ratio of 1.81.

Pacific Gas & Electric (NYSE:PCG) last announced its quarterly earnings data on Monday, May 15th. The utilities provider reported $0.30 earnings per share (EPS) for the quarter. The firm had revenue of $5.80 billion during the quarter. Pacific Gas & Electric had a return on equity of 11.10% and a net margin of 10.93%. On average, analysts forecast that Pacific Gas & Electric will post 1.49 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, Director John O. Larsen acquired 7,500 shares of the firm’s stock in a transaction dated Tuesday, November 4th. The shares were purchased at an average price of $15.96 per share, for a total transaction of $119,700.00. Following the completion of the acquisition, the director owned 18,111 shares in the company, valued at approximately $289,051.56. This represents a 70.68% increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is available at this link. 0.14% of the stock is currently owned by corporate insiders.

Institutional Trading of Pacific Gas & Electric

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Geode Capital Management LLC increased its position in shares of Pacific Gas & Electric by 3.0% during the second quarter. Geode Capital Management LLC now owns 58,079,843 shares of the utilities provider’s stock valued at $819,447,000 after acquiring an additional 1,676,093 shares in the last quarter. Northern Trust Corp grew its position in shares of Pacific Gas & Electric by 4.3% during the 1st quarter. Northern Trust Corp now owns 19,944,322 shares of the utilities provider’s stock valued at $342,643,000 after acquiring an additional 818,377 shares during the period. Canada Pension Plan Investment Board raised its stake in shares of Pacific Gas & Electric by 352.3% in the first quarter. Canada Pension Plan Investment Board now owns 19,172,519 shares of the utilities provider’s stock worth $329,384,000 after buying an additional 14,933,364 shares during the period. Sessa Capital IM L.P. purchased a new position in Pacific Gas & Electric during the first quarter valued at approximately $320,984,000. Finally, AQR Capital Management LLC increased its stake in 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 worth $280,305,000 after buying an additional 12,518,011 shares in the last quarter. Hedge funds and other institutional investors own 78.56% of the company’s stock.

About Pacific Gas & Electric

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.