Pacific Gas & Electric Co. (PCG) Upgraded to “Buy” at ValuEngine

Pacific Gas & Electric Co. (NYSE:PCG) was upgraded by equities researchers at ValuEngine from a “hold” rating to a “buy” rating in a note issued to investors on Friday, September 1st.

A number of other equities analysts also recently commented on PCG. Royal Bank Of Canada set a $70.00 price objective on shares of Pacific Gas & Electric Co. and gave the stock a “buy” rating in a research report on Saturday, June 3rd. Wolfe Research downgraded shares of Pacific Gas & Electric Co. from an “outperform” rating to a “market perform” rating in a research report on Thursday, May 11th. BidaskClub upgraded shares of Pacific Gas & Electric Co. from a “sell” rating to a “hold” rating in a research report on Tuesday, July 25th. Jefferies Group LLC restated a “buy” rating and set a $75.00 price objective on shares of Pacific Gas & Electric Co. in a research report on Friday, July 14th. Finally, Mizuho restated a “buy” rating and set a $74.00 price objective on shares of Pacific Gas & Electric Co. in a research report on Thursday, July 13th. Five investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. Pacific Gas & Electric Co. has a consensus rating of “Buy” and an average target price of $69.60.

Shares of Pacific Gas & Electric Co. (NYSE:PCG) traded up 0.27% on Friday, hitting $70.28. The stock had a trading volume of 3,026,039 shares. The stock has a market cap of $36.04 billion, a PE ratio of 17.33 and a beta of 0.22. Pacific Gas & Electric Co. has a 12 month low of $57.60 and a 12 month high of $71.57. The company has a 50 day moving average price of $69.50 and a 200-day moving average price of $67.61.

Pacific Gas & Electric Co. (NYSE:PCG) last released its quarterly earnings results on Thursday, July 27th. The utilities provider reported $0.86 EPS for the quarter, beating the consensus estimate of $0.79 by $0.07. Pacific Gas & Electric Co. had a net margin of 11.48% and a return on equity of 11.63%. The firm had revenue of $4.25 billion during the quarter, compared to the consensus estimate of $4.34 billion. During the same quarter in the prior year, the firm earned $0.66 EPS. Pacific Gas & Electric Co.’s revenue for the quarter was up 1.9% on a year-over-year basis. On average, equities research analysts anticipate that Pacific Gas & Electric Co. will post $3.67 earnings per share for the current year.

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In other news, VP David S. Thomason sold 700 shares of the stock in a transaction dated Wednesday, August 23rd. The shares were sold at an average price of $69.62, for a total transaction of $48,734.00. Following the transaction, the vice president now directly owns 7,357 shares in the company, valued at approximately $512,194.34. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director Roger H. Kimmel acquired 4,000 shares of the business’s stock in a transaction dated Tuesday, September 5th. The shares were bought at an average price of $69.68 per share, for a total transaction of $278,720.00. The disclosure for this purchase can be found here. Over the last 90 days, insiders sold 4,915 shares of company stock worth $340,377. 0.15% of the stock is owned by insiders.

Several hedge funds have recently made changes to their positions in PCG. Glen Harbor Capital Management LLC lifted its holdings in shares of Pacific Gas & Electric Co. by 16.2% during the 1st quarter. Glen Harbor Capital Management LLC now owns 13,440 shares of the utilities provider’s stock worth $892,000 after acquiring an additional 1,876 shares during the period. Janney Montgomery Scott LLC lifted its holdings in shares of Pacific Gas & Electric Co. by 1.6% during the 1st quarter. Janney Montgomery Scott LLC now owns 8,433 shares of the utilities provider’s stock worth $560,000 after acquiring an additional 129 shares during the period. Sumitomo Mitsui Trust Holdings Inc. raised its holdings in Pacific Gas & Electric Co. by 6.9% in the first quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 1,660,988 shares of the utilities provider’s stock valued at $110,223,000 after buying an additional 106,584 shares during the period. State Board of Administration of Florida Retirement System raised its holdings in Pacific Gas & Electric Co. by 0.3% in the first quarter. State Board of Administration of Florida Retirement System now owns 729,990 shares of the utilities provider’s stock valued at $48,442,000 after buying an additional 2,337 shares during the period. Finally, Elkhorn Investments LLC purchased a new position in Pacific Gas & Electric Co. in the first quarter valued at approximately $1,222,000. Institutional investors and hedge funds own 80.92% of the company’s stock.

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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Analyst Recommendations for Pacific Gas & Electric Co. (NYSE:PCG)

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