Wells Fargo & Company Issues Positive Forecast for Pacific Gas & Electric (NYSE:PCG) Stock Price

Pacific Gas & Electric (NYSE:PCG) had its target price lifted by equities research analysts at Wells Fargo & Company from $23.00 to $24.00 in a report released on Tuesday,Benzinga reports. The brokerage currently has an “overweight” rating on the utilities provider’s stock. Wells Fargo & Company‘s price objective suggests a potential upside of 53.76% from the stock’s previous close.

PCG has been the subject of several other research reports. Jefferies Financial Group raised their price objective on shares of Pacific Gas & Electric from $20.00 to $21.00 and gave the stock a “buy” rating in a research note on Wednesday, October 22nd. UBS Group raised their price target on Pacific Gas & Electric from $17.00 to $18.00 and gave the stock a “neutral” rating in a research note on Friday, October 24th. Barclays boosted their price objective on Pacific Gas & Electric from $20.00 to $21.00 and gave the company an “overweight” rating in a report on Wednesday, October 1st. JPMorgan Chase & Co. reduced their target price on Pacific Gas & Electric from $22.00 to $21.00 and set an “overweight” rating on the stock in a research note on Friday, December 12th. Finally, Weiss Ratings reissued a “hold (c)” rating on shares of Pacific Gas & Electric in a research note on Monday, December 29th. One research analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating and six have given a Hold rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $20.64.

Pacific Gas & Electric Trading Down 0.0%

PCG traded down $0.00 during trading on Tuesday, reaching $15.61. The company had a trading volume of 4,523,323 shares, compared to its average volume of 18,576,563. The company has a quick ratio of 0.89, a current ratio of 0.94 and a debt-to-equity ratio of 1.81. The business has a 50 day simple moving average of $15.78 and a 200-day simple moving average of $15.36. The stock has a market cap of $34.31 billion, a P/E ratio of 13.11, a PEG ratio of 0.60 and a beta of 0.38. Pacific Gas & Electric has a 52 week low of $12.97 and a 52 week high of $17.95.

Pacific Gas & Electric (NYSE:PCG) last announced its earnings results on Thursday, October 23rd. The utilities provider reported $0.50 earnings per share for the quarter, beating the consensus estimate of $0.44 by $0.06. Pacific Gas & Electric had a net margin of 10.93% and a return on equity of 11.10%. The business had revenue of $6.25 billion for the quarter, compared to the consensus estimate of $6.33 billion. During the same quarter in the prior year, the firm posted $0.37 earnings per share. The business’s revenue for the quarter was up 5.2% on a year-over-year basis. On average, equities analysts anticipate that Pacific Gas & Electric will post 1.49 EPS for the current fiscal year.

Insider Transactions at Pacific Gas & Electric

In related news, Director John O. Larsen acquired 7,500 shares of the firm’s stock in a transaction that occurred on Tuesday, November 4th. The stock was purchased at an average cost of $15.96 per share, for a total transaction of $119,700.00. Following the purchase, the director directly owned 18,111 shares of the company’s stock, valued at $289,051.56. This trade represents a 70.68% increase in their position. The acquisition was disclosed in a document filed with the SEC, which can be accessed through this link. Company insiders own 0.15% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of PCG. Titleist Asset Management LLC lifted its position in Pacific Gas & Electric by 2.1% during the third quarter. Titleist Asset Management LLC now owns 43,832 shares of the utilities provider’s stock valued at $661,000 after purchasing an additional 882 shares during the period. FreeGulliver LLC boosted its stake in shares of Pacific Gas & Electric by 7.9% during the 3rd quarter. FreeGulliver LLC now owns 13,482 shares of the utilities provider’s stock worth $203,000 after acquiring an additional 987 shares in the last quarter. Commerzbank Aktiengesellschaft FI grew its holdings in Pacific Gas & Electric by 3.3% in the second quarter. Commerzbank Aktiengesellschaft FI now owns 34,867 shares of the utilities provider’s stock valued at $487,000 after purchasing an additional 1,099 shares during the period. Fifth Third Wealth Advisors LLC grew its stake in Pacific Gas & Electric by 8.1% in the 3rd quarter. Fifth Third Wealth Advisors LLC now owns 17,195 shares of the utilities provider’s stock valued at $259,000 after acquiring an additional 1,283 shares during the period. Finally, Covestor Ltd grew its position in shares of Pacific Gas & Electric by 20.6% in the third quarter. Covestor Ltd now owns 9,029 shares of the utilities provider’s stock valued at $136,000 after purchasing an additional 1,544 shares during the period. Hedge funds and other institutional investors own 78.56% of the company’s stock.

Pacific Gas & Electric Company Profile

Pacific Gas & Electric (NYSE: PCG) is an investor-owned utility holding company whose principal operating subsidiary, Pacific Gas and Electric Company, provides electricity and natural gas service in northern and central California. The company’s core activities include the generation, procurement, transmission and distribution of electric power, as well as the transmission and distribution of natural gas. PG&E serves a broad mix of residential, commercial, and industrial customers across urban and rural communities within its California service territory.

PG&E’s operations encompass utility infrastructure planning and construction, grid operations, customer service and energy procurement.