UBS Group Forecasts Strong Price Appreciation for Pacific Gas & Electric (NYSE:PCG) Stock

Pacific Gas & Electric (NYSE:PCG) had its price objective raised by stock analysts at UBS Group from $14.00 to $15.00 in a research report issued to clients and investors on Friday, Benzinga reports. The firm currently has a “neutral” rating on the utilities provider’s stock. UBS Group‘s target price would suggest a potential upside of 13.90% from the company’s current price.

Several other research analysts have also weighed in on the company. Weiss Ratings lowered Pacific Gas & Electric from a “hold (c)” rating to a “hold (c-)” rating in a research report on Friday, October 23rd. Truist Financial cut Pacific Gas & Electric from a “buy” rating to a “hold” rating and lowered their price target for the company from $21.00 to $17.00 in a research note on Thursday, September 3rd. Barclays reduced their target price on shares of Pacific Gas & Electric from $18.00 to $17.00 and set an “overweight” rating for the company in a research note on Monday, October 12th. The Goldman Sachs Group set a $20.00 price target on shares of Pacific Gas & Electric in a research note on Thursday, October 15th. Finally, LADENBURG THALM/SH SH dropped their price target on shares of Pacific Gas & Electric from $22.00 to $15.50 and set a “buy” rating on the stock in a research note on Tuesday, October 6th. Seven investment analysts have rated the stock with a Buy rating and nine have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $17.21.

Pacific Gas & Electric Trading Down 0.1%

Shares of NYSE:PCG opened at $13.17 on Friday. The firm has a fifty day moving average of $13.64 and a two-hundred day moving average of $16.23. The firm has a market capitalization of $35.30 billion, a P/E ratio of 9.76, a price-to-earnings-growth ratio of 1.06 and a beta of 0.17. Pacific Gas & Electric has a 12-month low of $11.77 and a 12-month high of $19.16. The company has a quick ratio of 0.97, a current ratio of 1.03 and a debt-to-equity ratio of 1.85.

Pacific Gas & Electric (NYSE:PCG) last posted its quarterly earnings results on Thursday, October 22nd. The utilities provider reported $0.41 earnings per share for the quarter, missing analysts’ consensus estimates of $0.42 by ($0.01). Pacific Gas & Electric had a return on equity of 11.49% and a net margin of 12.00%. The company had revenue of $6.19 billion during the quarter, compared to analyst estimates of $6.82 billion. During the same period last year, the company posted $0.50 earnings per share. The company’s revenue was down 1.0% compared to the same quarter last year. On average, equities analysts expect that Pacific Gas & Electric will post 1.65 EPS for the current fiscal year.

Insider Buying and Selling

In related news, Director William Fugate sold 6,500 shares of the business’s stock in a transaction that occurred on Friday, September 4th. The stock was sold at an average price of $13.76, for a total value of $89,440.00. Following the completion of the sale, the director directly owned 73,530 shares in the company, valued at approximately $1,011,772.80. The trade was a 8.12% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director John Larsen bought 7,500 shares of the firm’s stock in a transaction on Wednesday, September 30th. The shares were bought at an average cost of $12.20 per share, with a total value of $91,500.00. Following the transaction, the director directly owned 36,685 shares of the company’s stock, valued at approximately $447,557. This trade represents a 25.70% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. 0.22% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the company. Sterling Capital Management LLC increased its stake in shares of Pacific Gas & Electric by 23.6% in the third quarter. Sterling Capital Management LLC now owns 81,861 shares of the utilities provider’s stock worth $1,003,000 after purchasing an additional 15,622 shares during the period. Fox Hill Wealth Management bought a new position in Pacific Gas & Electric in the 2nd quarter worth approximately $1,818,000. Rakuten Investment Management Inc. bought a new position in Pacific Gas & Electric in the 2nd quarter worth approximately $6,210,000. Glenview Trust Co acquired a new position in shares of Pacific Gas & Electric during the second quarter worth approximately $208,000. Finally, Empowered Funds LLC acquired a new position in shares of Pacific Gas & Electric during the second quarter worth approximately $8,566,000. 78.56% of the stock is currently owned by institutional investors and hedge funds.

About Pacific Gas & Electric

PG&E Corporation (NYSE: PCG) is the holding company for Pacific Gas and Electric Company, a regulated utility that provides electricity and natural gas delivery services in Northern and Central California. Its operations include maintaining and operating electric transmission and distribution networks, natural gas pipelines, substations, and other infrastructure used to serve residential, commercial, industrial, and agricultural customers.

Pacific Gas and Electric Company serves a broad portion of California, including the San Francisco Bay Area, the Central Valley, and parts of the northern and central regions of the state.