UBS Group Issues Positive Forecast for Pacific Gas & Electric (NYSE:PCG) Stock Price

Pacific Gas & Electric (NYSE:PCG) had its price target increased by UBS Group from $14.00 to $15.00 in a report released on Friday,Benzinga reports. They currently have a neutral rating on the utilities provider’s stock.

Other equities analysts also recently issued reports about the company. Mizuho cut their target price on Pacific Gas & Electric from $16.00 to $14.00 and set a “neutral” rating for the company in a research note on Thursday, September 3rd. Weiss Ratings downgraded Pacific Gas & Electric from a “hold (c)” rating to a “hold (c-)” rating in a research note on Friday, October 23rd. LADENBURG THALM/SH SH dropped their price objective on Pacific Gas & Electric from $22.00 to $15.50 and set a “buy” rating on the stock in a report on Tuesday, October 6th. Jefferies Financial Group reduced their target price on Pacific Gas & Electric from $19.00 to $14.00 in a report on Wednesday, October 21st. Finally, JPMorgan Chase & Co. decreased their target price on shares of Pacific Gas & Electric from $18.00 to $17.00 and set an “overweight” rating on the stock in a research report on Monday, October 12th. Seven investment analysts have rated the stock with a Buy rating and nine have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, Pacific Gas & Electric has a consensus rating of “Hold” and a consensus target price of $17.21.

Pacific Gas & Electric Stock Down 0.1%

PCG stock opened at $13.17 on Friday. Pacific Gas & Electric has a one year low of $11.77 and a one year high of $19.16. The stock has a market capitalization 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 has a debt-to-equity ratio of 1.85, a quick ratio of 0.97 and a current ratio of 1.03. The company has a fifty day moving average of $13.64 and a 200-day moving average of $16.23.

Pacific Gas & Electric (NYSE:PCG) last issued its quarterly earnings results on Thursday, October 22nd. The utilities provider reported $0.41 earnings per share (EPS) 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 firm had revenue of $6.19 billion for the quarter, compared to analyst estimates of $6.82 billion. During the same quarter last year, the firm earned $0.50 earnings per share. The company’s revenue was down 1.0% compared to the same quarter last year. As a group, analysts expect that Pacific Gas & Electric will post 1.65 EPS for the current year.

Pacific Gas & Electric Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, October 15th. Investors of record on Wednesday, September 30th were issued a $0.05 dividend. The ex-dividend date was Wednesday, September 30th. This represents a $0.20 dividend on an annualized basis and a dividend yield of 1.5%. Pacific Gas & Electric’s dividend payout ratio is currently 14.81%.

Insider Activity at Pacific Gas & Electric

In other news, Director William Fugate sold 6,500 shares of the firm’s stock in a transaction on Friday, September 4th. The stock was sold at an average price of $13.76, for a total value of $89,440.00. Following the completion of the transaction, the director owned 73,530 shares in the company, valued at $1,011,772.80. This trade represents a 8.12% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director John O. Larsen purchased 7,500 shares of the business’s stock in a transaction dated Wednesday, September 30th. The shares were purchased at an average cost of $12.20 per share, with a total value of $91,500.00. Following the purchase, the director directly owned 36,685 shares in the company, valued at approximately $447,557. The trade was a 25.70% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. Company insiders own 0.22% of the company’s stock.

Hedge Funds Weigh In On Pacific Gas & Electric

Hedge funds have recently added to or reduced their stakes in the business. Gallagher Fiduciary Advisors LLC acquired a new stake in shares of Pacific Gas & Electric in the second quarter valued at approximately $300,895,000. Legal & General Group Plc acquired a new position in shares of Pacific Gas & Electric during the 2nd quarter worth approximately $398,915,000. Canada Pension Plan Investment Board acquired a new position in shares of Pacific Gas & Electric during the 2nd quarter worth approximately $320,820,000. Barrow Hanley Mewhinney & Strauss LLC acquired a new stake in Pacific Gas & Electric during the 2nd quarter valued at $314,855,000. Finally, Man Group plc acquired a new stake in Pacific Gas & Electric during the 2nd quarter valued at $188,513,000. 78.56% of the stock is currently owned by hedge funds and other 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.