Pacific Gas & Electric (NYSE:PCG) Price Target Raised to $21.00

Pacific Gas & Electric (NYSE:PCG) had its target price increased by analysts at Morgan Stanley from $20.00 to $21.00 in a research note issued to investors on Wednesday, Benzinga reports. The firm currently has an “equal weight” rating on the utilities provider’s stock. Morgan Stanley’s price target would indicate a potential upside of 57.84% from the stock’s current price.

Other equities research analysts have also issued reports about the company. UBS Group reiterated a “neutral” rating on shares of Pacific Gas & Electric in a research note on Tuesday, October 13th. The Goldman Sachs Group set a $20.00 target price on Pacific Gas & Electric in a report on Thursday, October 15th. Barclays cut their target price on Pacific Gas & Electric from $18.00 to $17.00 and set an “overweight” rating for the company in a research report on Monday, October 12th. JPMorgan Chase & Co. decreased their price target on Pacific Gas & Electric from $18.00 to $17.00 and set an “overweight” rating on the stock in a research note on Monday, October 12th. Finally, Weiss Ratings reiterated a “hold (c)” rating on shares of Pacific Gas & Electric in a research report on Tuesday, September 1st. Three analysts have rated the stock with a Buy rating and nine have given a Hold rating to the company. Based on data from MarketBeat, Pacific Gas & Electric currently has an average rating of “Hold” and an average price target of $17.36.

Pacific Gas & Electric Price Performance

Shares of NYSE:PCG traded up $0.12 during midday trading on Wednesday, reaching $13.30. 7,151,649 shares of the company’s stock were exchanged, compared to its average volume of 26,551,932. The company’s 50 day simple moving average is $14.32 and its two-hundred day simple moving average is $16.06. The firm has a market capitalization of $35.66 billion, a PE ratio of 9.65, a price-to-earnings-growth ratio of 1.05 and a beta of 0.28. Pacific Gas & Electric has a 12 month low of $11.77 and a 12 month high of $19.16. The company has a debt-to-equity ratio of 1.90, a quick ratio of 1.15 and a current ratio of 1.22.

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

Insider Activity

In other Pacific Gas & Electric news, Director William Fugate sold 6,500 shares of the company’s stock in a transaction dated Friday, September 4th. The shares were sold at an average price of $13.76, for a total transaction of $89,440.00. Following the sale, the director directly owned 73,530 shares of the company’s stock, valued at approximately $1,011,772.80. This represents a 8.12% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director John Larsen acquired 7,500 shares of the company’s stock in a transaction dated Wednesday, September 30th. The shares were purchased at an average cost of $12.20 per share, with a total value of $91,500.00. Following the acquisition, the director owned 36,685 shares of the company’s stock, valued at approximately $447,557. This represents a 25.70% increase in their position. The disclosure for this purchase is available in the SEC filing. 0.22% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Pacific Gas & Electric

A number of large investors have recently bought and sold shares of the business. Fox Hill Wealth Management bought a new position in shares of Pacific Gas & Electric in the second quarter worth about $1,818,000. Rakuten Investment Management Inc. acquired a new position in shares of Pacific Gas & Electric during the second 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. Empowered Funds LLC acquired a new position in shares of Pacific Gas & Electric during the second quarter worth approximately $8,566,000. Finally, United Capital Financial Advisors LLC bought a new stake in shares of Pacific Gas & Electric during the second quarter valued at approximately $807,000. 78.56% of the stock is currently owned by institutional investors.

Pacific Gas & Electric Company Profile

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.