Morgan Stanley Cuts Pacific Gas & Electric (NYSE:PCG) Price Target to $20.00

Pacific Gas & Electric (NYSE:PCG) had its price target reduced by Morgan Stanley from $22.00 to $20.00 in a research report released on Friday morning,Benzinga reports. Morgan Stanley currently has an equal weight rating on the utilities provider’s stock.

Several other analysts also recently weighed in on PCG. BMO Capital Markets reaffirmed a “market perform” rating and set a $21.00 target price (down from $28.00) on shares of Pacific Gas & Electric in a research report on Monday, August 31st. Weiss Ratings reiterated a “hold (c)” rating on shares of Pacific Gas & Electric in a research note on Tuesday, September 1st. Jefferies Financial Group set a $13.00 price target on Pacific Gas & Electric in a report on Tuesday, September 1st. Wall Street Zen lowered Pacific Gas & Electric from a “buy” rating to a “hold” rating in a research note on Saturday, July 25th. Finally, Truist Financial downgraded Pacific Gas & Electric from a “buy” rating to a “hold” rating and dropped their price objective for the stock from $21.00 to $17.00 in a report on Thursday, September 3rd. Three equities research analysts have rated the stock with a Buy rating and nine have issued a Hold rating to the company. Based on data from MarketBeat.com, Pacific Gas & Electric has a consensus rating of “Hold” and an average target price of $18.09.

Pacific Gas & Electric Price Performance

Shares of PCG stock opened at $13.18 on Friday. The company has a market capitalization of $35.33 billion, a PE ratio of 9.55, a price-to-earnings-growth ratio of 1.06 and a beta of 0.24. The firm has a fifty day simple moving average of $16.44 and a 200-day simple moving average of $16.87. 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 has a twelve month low of $12.59 and a twelve month high of $19.16.

Pacific Gas & Electric (NYSE:PCG) last released its quarterly earnings results on Thursday, July 23rd. The utilities provider reported $0.40 earnings per share for the quarter, beating analysts’ consensus estimates 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 during the quarter, compared to analyst estimates of $6.20 billion. During the same period last year, the business earned $0.31 EPS. The business’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 anticipate that Pacific Gas & Electric will post 1.65 earnings per share for the current fiscal year.

Pacific Gas & Electric Announces Dividend

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

Insider Activity

In related news, EVP Marlene Santos sold 158,250 shares of the business’s stock in a transaction dated 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 completion of the sale, the executive vice president directly owned 230,885 shares of the company’s stock, valued at $4,155,930. The trade was a 40.67% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director William Fugate sold 6,500 shares of the company’s 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 sale, the director owned 73,530 shares in the company, valued at $1,011,772.80. The trade was a 8.12% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 166,000 shares of company stock worth $2,960,440 in the last ninety days. Corporate insiders own 0.22% of the company’s stock.

Institutional Investors Weigh In On Pacific Gas & Electric

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

About Pacific Gas & Electric

Pacific Gas & Electric Corporation (NYSE: PCG) is an energy holding company whose principal subsidiary, Pacific Gas and Electric Company, provides regulated electricity and natural gas services. The utility delivers electricity through its transmission and distribution networks and supplies natural gas to residential, commercial, industrial and agricultural customers.

Pacific Gas and Electric Company serves a large portion of Northern and Central California, including the San Francisco Bay Area and the Central Valley.