Pacific Gas & Electric (NYSE:PCG) Stock Gets Price Target Trim from JPMorgan Chase & Co.

Pacific Gas & Electric (NYSE:PCG) had its price target decreased by JPMorgan Chase & Co. from $18.00 to $17.00 in a research note released on Monday,Benzinga reports. JPMorgan Chase & Co. currently has an overweight rating on the utilities provider’s stock.

PCG has been the subject of several other research reports. Barclays reduced their price target on shares of Pacific Gas & Electric from $18.00 to $17.00 and set an “overweight” rating for the company in a report on Monday. Weiss Ratings restated a “hold (c)” rating on shares of Pacific Gas & Electric in a report on Tuesday, September 1st. Truist Financial cut shares of Pacific Gas & Electric from a “buy” rating to a “hold” rating and cut their price objective for the company from $21.00 to $17.00 in a research report on Thursday, September 3rd. UBS Group reaffirmed a “neutral” rating and issued a $14.00 target price (down from $19.00) on shares of Pacific Gas & Electric in a research note on Tuesday, September 22nd. Finally, Jefferies Financial Group set a $13.00 target price on shares of Pacific Gas & Electric in a research note on Tuesday, September 1st. Three analysts have rated the stock with a Buy rating and nine have given a Hold rating to the company. According to MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $17.36.

Pacific Gas & Electric Trading Down 1.3%

NYSE:PCG opened at $13.15 on Monday. Pacific Gas & Electric has a fifty-two week low of $11.77 and a fifty-two week high of $19.16. The company has a debt-to-equity ratio of 1.90, a current ratio of 1.22 and a quick ratio of 1.15. The stock has a market capitalization of $35.26 billion, a PE ratio of 9.53, a price-to-earnings-growth ratio of 1.07 and a beta of 0.28. The business’s 50-day simple moving average is $14.65 and its 200-day simple moving average is $16.18.

Pacific Gas & Electric (NYSE:PCG) last issued its quarterly earnings data on Thursday, July 23rd. The utilities provider reported $0.40 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.36 by $0.04. Pacific Gas & Electric had a return on equity of 12.48% and a net margin of 12.25%. The business had revenue of $5.90 billion during the quarter, compared to analyst estimates of $6.20 billion. During the same period in the previous year, the firm earned $0.31 EPS. Pacific Gas & Electric’s quarterly revenue was up .1% compared to the same quarter last year. Pacific Gas & Electric has set its FY 2026 guidance at 1.640-1.660 EPS. Sell-side analysts expect that Pacific Gas & Electric will post 1.65 earnings per share for the current fiscal year.

Pacific Gas & Electric Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, October 15th. Investors of record on Wednesday, September 30th will be given a $0.05 dividend. This represents a $0.20 dividend on an annualized basis and a yield of 1.5%. The ex-dividend date of this dividend is Wednesday, September 30th. Pacific Gas & Electric’s dividend payout ratio (DPR) is currently 14.49%.

Insider Activity at Pacific Gas & Electric

In other Pacific Gas & Electric news, EVP Marlene Santos sold 158,250 shares of the business’s stock in a transaction that occurred on Wednesday, July 22nd. The stock was sold at an average price of $18.00, for a total value of $2,848,500.00. Following the sale, the executive vice president owned 230,885 shares in the company, valued at approximately $4,155,930. The trade was a 40.67% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible 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 business’s stock in a transaction on Wednesday, September 30th. The stock was purchased at an average price of $12.20 per share, for a total transaction of $91,500.00. Following the purchase, the director directly owned 36,685 shares in the company, valued at approximately $447,557. This represents a 25.70% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. In the last quarter, insiders have sold 166,000 shares of company stock valued at $2,960,440. 0.22% of the stock is owned by insiders.

Institutional Trading of Pacific Gas & Electric

Hedge funds and other institutional investors have recently made changes to their positions in the business. Fox Hill Wealth Management acquired a new stake in shares of Pacific Gas & Electric in the 2nd quarter valued at approximately $1,818,000. Rakuten Investment Management Inc. bought a new position in shares of Pacific Gas & Electric in the second quarter valued at $6,210,000. Glenview Trust Co bought a new position in shares of Pacific Gas & Electric in the second quarter valued at $208,000. Empowered Funds LLC bought a new position in shares of Pacific Gas & Electric in the second quarter valued at $8,566,000. Finally, United Capital Financial Advisors LLC acquired a new position in Pacific Gas & Electric during the second quarter worth $807,000. 78.56% of the stock is currently owned by institutional investors and hedge funds.

Pacific Gas & Electric Company Profile

Pacific Gas and Electric Corporation, through its principal subsidiary Pacific Gas and Electric Company, is a regulated energy utility serving customers in Northern and Central California. The company delivers electricity and natural gas to residential, commercial, industrial and agricultural customers across its service territory.

PG&E’s operations include the transmission and distribution of electricity, natural gas distribution, and the maintenance and modernization of the infrastructure used to provide these services.