Pacific Gas & Electric (NYSE:PCG) Cut to “Hold” at Wall Street Zen

Wall Street Zen cut shares of Pacific Gas & Electric (NYSE:PCG) from a buy rating to a hold rating in a research report released on Saturday morning.

A number of other analysts also recently issued reports on the company. BMO Capital Markets decreased their price target on Pacific Gas & Electric from $28.00 to $27.00 and set an “outperform” rating for the company in a report on Friday. JPMorgan Chase & Co. dropped their price objective on Pacific Gas & Electric from $24.00 to $23.00 and set an “overweight” rating on the stock in a report on Friday, May 15th. Wells Fargo & Company reissued an “overweight” rating and set a $25.00 target price on shares of Pacific Gas & Electric in a research report on Tuesday, April 21st. Weiss Ratings lowered Pacific Gas & Electric from a “hold (c+)” rating to a “hold (c)” rating in a research report on Thursday, June 4th. Finally, Morgan Stanley set a $22.00 target price on Pacific Gas & Electric in a research note on Thursday, May 21st. Seven equities research analysts have rated the stock with a Buy rating, three have given a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $22.30.

Pacific Gas & Electric Price Performance

Shares of PCG opened at $17.58 on Friday. Pacific Gas & Electric has a twelve month low of $13.31 and a twelve month high of $19.16. The firm’s fifty day simple moving average is $16.91 and its 200-day simple moving average is $17.00. The firm has a market capitalization of $47.11 billion, a price-to-earnings ratio of 12.74, a PEG ratio of 1.16 and a beta of 0.27. The company has a current ratio of 1.22, a quick ratio of 1.15 and a debt-to-equity ratio of 1.90.

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

Pacific Gas & Electric Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Wednesday, July 15th. Investors of record on Tuesday, June 30th were given a $0.05 dividend. The ex-dividend date of this dividend was Tuesday, June 30th. This represents a $0.20 dividend on an annualized basis and a yield of 1.1%. Pacific Gas & Electric’s payout ratio is 14.49%.

Hedge Funds Weigh In On Pacific Gas & Electric

Large investors have recently bought and sold shares of the stock. CoreCap Advisors LLC lifted its holdings in shares of Pacific Gas & Electric by 13.1% in the 2nd quarter. CoreCap Advisors LLC now owns 5,843 shares of the utilities provider’s stock valued at $98,000 after purchasing an additional 677 shares during the last quarter. Versant Capital Management Inc grew its stake in Pacific Gas & Electric by 19.6% during the 2nd quarter. Versant Capital Management Inc now owns 6,636 shares of the utilities provider’s stock worth $112,000 after buying an additional 1,088 shares during the last quarter. Parallel Advisors LLC increased its position in Pacific Gas & Electric by 5.9% during the first quarter. Parallel Advisors LLC now owns 41,792 shares of the utilities provider’s stock worth $734,000 after buying an additional 2,313 shares during the period. EverSource Wealth Advisors LLC increased its position in Pacific Gas & Electric by 17.8% during the first quarter. EverSource Wealth Advisors LLC now owns 89,298 shares of the utilities provider’s stock worth $1,569,000 after buying an additional 13,478 shares during the period. Finally, DGS Capital Management LLC purchased a new stake in Pacific Gas & Electric in the first quarter valued at approximately $246,000. Institutional investors and hedge funds own 78.56% of the company’s stock.

Pacific Gas & Electric Company Profile

Pacific Gas & Electric (NYSE: PCG) is an investor-owned utility holding company whose principal operating subsidiary, Pacific Gas and Electric Company, provides electricity and natural gas service in northern and central California. The company’s core activities include the generation, procurement, transmission and distribution of electric power, as well as the transmission and distribution of natural gas. PG&E serves a broad mix of residential, commercial, and industrial customers across urban and rural communities within its California service territory.

PG&E’s operations encompass utility infrastructure planning and construction, grid operations, customer service and energy procurement.