Pacific Gas & Electric Co. (PCG) Receives $70.00 Consensus PT from Brokerages
Shares of Pacific Gas & Electric Co. (NYSE:PCG) have received an average rating of “Buy” from the twelve brokerages that are covering the company, MarketBeat.com reports. Four analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. The average 1-year target price among analysts that have issued ratings on the stock in the last year is $70.00.
A number of research analysts have issued reports on PCG shares. Goldman Sachs Group, Inc. (The) restated a “buy” rating on shares of Pacific Gas & Electric Co. in a research report on Tuesday, June 27th. BidaskClub cut Pacific Gas & Electric Co. from a “hold” rating to a “sell” rating in a research note on Wednesday, July 12th. Mizuho reissued a “buy” rating and set a $74.00 target price on shares of Pacific Gas & Electric Co. in a research note on Thursday, July 13th. BMO Capital Markets reissued a “hold” rating and set a $69.00 target price on shares of Pacific Gas & Electric Co. in a research note on Thursday, July 13th. Finally, Jefferies Group LLC reaffirmed a “buy” rating and set a $75.00 price target on shares of Pacific Gas & Electric Co. in a research note on Friday, July 14th.
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In other news, Director Roger H. Kimmel bought 4,000 shares of the stock in a transaction dated Tuesday, September 5th. The shares were bought at an average cost of $69.68 per share, with a total value of $278,720.00. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, VP David S. Thomason sold 700 shares of the company’s stock in a transaction that occurred on Wednesday, August 23rd. The stock was sold at an average price of $69.62, for a total value of $48,734.00. Following the transaction, the vice president now directly owns 7,357 shares in the company, valued at $512,194.34. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 4,915 shares of company stock worth $340,377. 0.15% of the stock is owned by insiders.
A number of institutional investors have recently made changes to their positions in PCG. BlackRock Inc. grew its holdings in Pacific Gas & Electric Co. by 2,407.4% during the first quarter. BlackRock Inc. now owns 36,985,297 shares of the utilities provider’s stock worth $2,454,345,000 after buying an additional 35,510,230 shares in the last quarter. Vanguard Group Inc. grew its stake in Pacific Gas & Electric Co. by 5.8% in the 1st quarter. Vanguard Group Inc. now owns 36,028,473 shares of the utilities provider’s stock valued at $2,390,850,000 after purchasing an additional 1,961,671 shares during the period. OppenheimerFunds Inc. grew its stake in Pacific Gas & Electric Co. by 24.2% in the 1st quarter. OppenheimerFunds Inc. now owns 7,751,085 shares of the utilities provider’s stock valued at $514,361,000 after purchasing an additional 1,510,789 shares during the period. Wellington Management Group LLP grew its stake in Pacific Gas & Electric Co. by 8.7% in the 1st quarter. Wellington Management Group LLP now owns 4,947,856 shares of the utilities provider’s stock valued at $328,339,000 after purchasing an additional 394,678 shares during the period. Finally, BlueCrest Capital Management Ltd bought a new position in Pacific Gas & Electric Co. in the 1st quarter valued at $25,674,000. Institutional investors and hedge funds own 80.91% of the company’s stock.
Pacific Gas & Electric Co. (NYSE:PCG) traded down 0.33% during mid-day trading on Wednesday, hitting $68.84. 2,201,365 shares of the company’s stock were exchanged. Pacific Gas & Electric Co. has a 52 week low of $57.60 and a 52 week high of $71.57. The firm has a 50 day moving average of $69.51 and a 200 day moving average of $67.91. The stock has a market capitalization of $35.30 billion, a P/E ratio of 16.97 and a beta of 0.22.
Pacific Gas & Electric Co. (NYSE:PCG) last issued its quarterly earnings results on Thursday, July 27th. The utilities provider reported $0.86 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.79 by $0.07. The business had revenue of $4.25 billion for the quarter, compared to the consensus estimate of $4.34 billion. Pacific Gas & Electric Co. had a net margin of 11.48% and a return on equity of 11.63%. The firm’s quarterly revenue was up 1.9% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.66 EPS. Equities analysts forecast that Pacific Gas & Electric Co. will post $3.68 earnings per share for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Sunday, October 15th. Investors of record on Friday, September 29th will be paid a $0.53 dividend. This represents a $2.12 dividend on an annualized basis and a dividend yield of 3.08%. The ex-dividend date of this dividend is Thursday, September 28th. Pacific Gas & Electric Co.’s dividend payout ratio is currently 52.35%.
Pacific Gas & Electric Co. Company Profile
PG&E Corporation is a holding company. The Company’s primary operating subsidiary is Pacific Gas and Electric Company (the Utility), which operates in northern and central California. The Utility is engaged in the sale and delivery of electricity and natural gas to customers. The Utility generates electricity and provides electricity transmission and distribution services throughout its service territory in northern and central California to residential, commercial, industrial, and agricultural customers.
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