UBS Group Forecasts Strong Price Appreciation for Pacific Gas & Electric (NYSE:PCG) Stock

Pacific Gas & Electric (NYSE:PCG) had its price objective upped by stock analysts at UBS Group from $14.00 to $15.00 in a report released on Friday, Benzinga reports. The brokerage presently has a “neutral” rating on the utilities provider’s stock. UBS Group‘s price target suggests a potential upside of 13.90% from the company’s current price.

Several other equities analysts have also recently issued reports on the company. HSBC started coverage on Pacific Gas & Electric in a report on Thursday, October 22nd. They issued a “buy” rating and a $15.50 price objective for the company. Jefferies Financial Group lowered their price objective on Pacific Gas & Electric from $19.00 to $14.00 in a research report on Wednesday, October 21st. Bank of America raised their price target on shares of Pacific Gas & Electric from $13.00 to $14.00 in a research report on Tuesday, September 8th. Wells Fargo & Company decreased their price objective on shares of Pacific Gas & Electric from $24.00 to $14.00 and set an “equal weight” rating for the company in a research report on Friday, October 23rd. Finally, The Goldman Sachs Group set a $20.00 target price on shares of Pacific Gas & Electric in a research note on Thursday, October 15th. Seven research analysts have rated the stock with a Buy rating and nine have given a Hold rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $17.21.

Pacific Gas & Electric Price Performance

Shares of NYSE:PCG opened at $13.17 on Friday. Pacific Gas & Electric has a twelve month low of $11.77 and a twelve month high of $19.16. The company has a current ratio of 1.03, a quick ratio of 0.97 and a debt-to-equity ratio of 1.85. The company has a market cap of $35.30 billion, a PE ratio of 9.76, a price-to-earnings-growth ratio of 1.06 and a beta of 0.17. The company’s 50 day moving average is $13.64 and its 200 day moving average is $16.23.

Pacific Gas & Electric (NYSE:PCG) last released its quarterly earnings data on Thursday, October 22nd. The utilities provider reported $0.41 earnings per share for the quarter, missing analysts’ consensus estimates of $0.42 by ($0.01). Pacific Gas & Electric had a return on equity of 11.49% and a net margin of 12.00%. The business had revenue of $6.19 billion during the quarter, compared to analyst estimates of $6.82 billion. During the same quarter in the previous year, the company earned $0.50 EPS. The firm’s revenue was down 1.0% compared to the same quarter last year. On average, sell-side analysts forecast that Pacific Gas & Electric will post 1.65 EPS for the current year.

Insider Transactions at Pacific Gas & Electric

In related news, Director John O. Larsen purchased 7,500 shares of the company’s stock in a transaction dated Wednesday, September 30th. The stock was acquired at an average cost of $12.20 per share, for a total transaction of $91,500.00. Following the completion of the transaction, 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 ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, Director William Fugate sold 6,500 shares of the stock in a transaction that occurred on Friday, September 4th. The shares were sold at an average price of $13.76, for a total value of $89,440.00. Following the completion of 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 position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 0.22% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Pacific Gas & Electric

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the stock. CoreCap Advisors LLC raised its holdings in shares of Pacific Gas & Electric by 13.1% during the 2nd quarter. CoreCap Advisors LLC now owns 5,843 shares of the utilities provider’s stock worth $98,000 after acquiring an additional 677 shares during the period. Versant Capital Management Inc grew its holdings in shares of Pacific Gas & Electric by 19.6% in the second quarter. Versant Capital Management Inc now owns 6,636 shares of the utilities provider’s stock valued at $112,000 after purchasing an additional 1,088 shares during the period. Keating Financial Advisory Services Inc. acquired a new stake in Pacific Gas & Electric during the second quarter worth about $28,000. 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 purchasing an additional 2,313 shares during the last quarter. Finally, Transamerica Financial Advisors LLC acquired a new stake in Pacific Gas & Electric during the second quarter worth about $57,000. Institutional investors and hedge funds own 78.56% of the company’s stock.

About Pacific Gas & Electric

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.