Morgan Stanley Forecasts Strong Price Appreciation for Pacific Gas & Electric (NYSE:PCG) Stock

Pacific Gas & Electric (NYSE:PCG) had its price objective lifted by stock analysts at Morgan Stanley from $20.00 to $21.00 in a report released on Wednesday, Benzinga reports. The brokerage currently has an “equal weight” rating on the utilities provider’s stock. Morgan Stanley’s target price would suggest a potential upside of 57.84% from the company’s previous close.

Other research analysts also recently issued reports about the stock. Jefferies Financial Group set a $13.00 target price on shares of Pacific Gas & Electric in a research report on Tuesday, September 1st. BMO Capital Markets reaffirmed a “market perform” rating and issued a $21.00 target price (down from $28.00) on shares of Pacific Gas & Electric in a research note on Monday, August 31st. Barclays lowered 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 research report on Monday, October 12th. UBS Group reissued a “neutral” rating on shares of Pacific Gas & Electric in a research note on Tuesday, October 13th. Finally, The Goldman Sachs Group set a $20.00 price objective on shares of Pacific Gas & Electric in a report on Thursday, October 15th. Three research analysts have rated the stock with a Buy rating and nine have given a Hold rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $17.36.

Pacific Gas & Electric Trading Up 0.9%

Shares of PCG stock traded up $0.12 on Wednesday, reaching $13.30. 7,151,649 shares of the stock were exchanged, compared to its average volume of 26,551,932. The stock has a market cap of $35.66 billion, a PE ratio of 9.65, a P/E/G ratio of 1.05 and a beta of 0.28. Pacific Gas & Electric has a one year low of $11.77 and a one year 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 50 day moving average price of $14.32 and a 200 day moving average price of $16.06.

Pacific Gas & Electric (NYSE:PCG) last issued its quarterly earnings results 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. The business had revenue of $5.90 billion for the quarter, compared to analyst estimates of $6.20 billion. Pacific Gas & Electric had a return on equity of 12.48% and a net margin of 12.25%. The firm’s revenue for the quarter was up .1% compared to the same quarter last year. During the same quarter in the prior 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 research analysts forecast that Pacific Gas & Electric will post 1.65 EPS for the current fiscal year.

Insider Transactions at Pacific Gas & Electric

In other Pacific Gas & Electric news, Director William Fugate sold 6,500 shares of the stock in a transaction dated Friday, September 4th. The stock was sold at an average price of $13.76, for a total value of $89,440.00. Following the transaction, the director 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 transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. 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 bought at an average cost of $12.20 per share, for a total transaction of $91,500.00. Following the purchase, 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 position. The SEC filing for this purchase provides additional information. Corporate insiders own 0.22% of the company’s stock.

Institutional Trading of Pacific Gas & Electric

A number of institutional investors and hedge funds have recently modified their holdings of PCG. Gallagher Fiduciary Advisors LLC acquired a new stake in shares of Pacific Gas & Electric in the 2nd quarter valued at approximately $300,895,000. Legal & General Group Plc acquired a new position in Pacific Gas & Electric during the second quarter valued at approximately $398,915,000. Canada Pension Plan Investment Board acquired a new position in Pacific Gas & Electric during the second quarter valued at approximately $320,820,000. Barrow Hanley Mewhinney & Strauss LLC acquired a new position in Pacific Gas & Electric during the second quarter valued at approximately $314,855,000. Finally, Man Group plc bought a new stake in Pacific Gas & Electric in the second quarter valued at approximately $188,513,000. 78.56% of the stock is 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.