Citigroup Inc. reaffirmed their hold rating on shares of Pacific Gas & Electric Co. (NYSE:PCG) in a research report sent to investors on Tuesday. Citigroup Inc. currently has a $60.00 target price on the stock.
Several other brokerages have also weighed in on PCG. Mizuho lifted their price objective on Pacific Gas & Electric Co. from $64.00 to $67.00 and gave the stock a buy rating in a report on Wednesday, June 29th. Argus reissued a buy rating and set a $79.00 price objective (up previously from $74.00) on shares of Pacific Gas & Electric Co. in a report on Monday, July 25th. Zacks Investment Research raised Pacific Gas & Electric Co. from a hold rating to a buy rating and set a $72.00 price objective on the stock in a report on Tuesday, July 12th. Jefferies Group decreased their price objective on Pacific Gas & Electric Co. from $71.50 to $70.00 and set a buy rating on the stock in a report on Monday, August 29th. Finally, Royal Bank Of Canada raised Pacific Gas & Electric Co. from a sector perform rating to an outperform rating and lifted their price objective for the stock from $60.00 to $71.00 in a report on Friday, July 15th. Two investment analysts have rated the stock with a hold rating and twelve have given a buy rating to the company. Pacific Gas & Electric Co. presently has an average rating of Buy and an average price target of $65.75.
Shares of Pacific Gas & Electric Co. (NYSE:PCG) opened at 59.01 on Tuesday. Pacific Gas & Electric Co. has a 12 month low of $50.65 and a 12 month high of $65.43. The firm has a market capitalization of $29.42 billion, a price-to-earnings ratio of 38.85 and a beta of 0.22. The firm has a 50-day moving average price of $62.34 and a 200 day moving average price of $61.47.
Pacific Gas & Electric Co. (NYSE:PCG) last announced its quarterly earnings data on Thursday, July 28th. The company reported $0.66 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.92 by $0.26. Pacific Gas & Electric Co. had a return on equity of 8.27% and a net margin of 4.51%. The firm had revenue of $4.17 billion for the quarter, compared to analyst estimates of $4.59 billion. During the same period in the previous year, the business posted $0.91 EPS. Pacific Gas & Electric Co.’s revenue for the quarter was down 1.1% compared to the same quarter last year. On average, analysts anticipate that Pacific Gas & Electric Co. will post $3.72 EPS for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Saturday, October 15th. Investors of record on Friday, September 30th will be given a dividend of $0.49 per share. This represents a $1.96 dividend on an annualized basis and a yield of 3.32%. The ex-dividend date of this dividend is Wednesday, September 28th. Pacific Gas & Electric Co.’s dividend payout ratio is currently 128.11%.
Large investors have recently modified their holdings of the company. Bessemer Group Inc. increased its stake in shares of Pacific Gas & Electric Co. by 40.6% in the first quarter. Bessemer Group Inc. now owns 3,445 shares of the company’s stock worth $206,000 after buying an additional 995 shares in the last quarter. Laurel Wealth Advisors Inc. increased its stake in shares of Pacific Gas & Electric Co. by 1.3% in the second quarter. Laurel Wealth Advisors Inc. now owns 3,547 shares of the company’s stock worth $227,000 after buying an additional 45 shares in the last quarter. Canandaigua National Bank & Trust Co. bought a new stake in shares of Pacific Gas & Electric Co. during the first quarter worth about $224,000. Williams Jones & Associates LLC bought a new stake in shares of Pacific Gas & Electric Co. during the second quarter worth about $278,000. Finally, Advisor Partners LLC increased its stake in shares of Pacific Gas & Electric Co. by 24.2% in the first quarter. Advisor Partners LLC now owns 5,580 shares of the company’s stock worth $333,000 after buying an additional 1,087 shares in the last quarter. 79.33% of the stock is currently owned by institutional investors and hedge funds.
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). The Utility’s operations include 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.
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