Jefferies Financial Group Has Lowered Expectations for Pacific Gas & Electric (NYSE:PCG) Stock Price

Pacific Gas & Electric (NYSE:PCG) had its target price dropped by equities researchers at Jefferies Financial Group from $21.00 to $20.00 in a report released on Wednesday,Benzinga reports. The firm currently has a “buy” rating on the utilities provider’s stock. Jefferies Financial Group’s price objective would indicate a potential upside of 33.91% from the stock’s previous close.

PCG has been the subject of a number of other reports. Wall Street Zen upgraded Pacific Gas & Electric from a “hold” rating to a “buy” rating in a research note on Saturday, January 17th. Barclays increased their price objective on Pacific Gas & Electric from $20.00 to $21.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 1st. Wells Fargo & Company lifted their price target on shares of Pacific Gas & Electric from $23.00 to $24.00 and gave the company an “overweight” rating in a research report on Tuesday, January 20th. JPMorgan Chase & Co. cut their price objective on shares of Pacific Gas & Electric from $22.00 to $21.00 and set an “overweight” rating for the company in a research report on Friday, December 12th. Finally, Mizuho set a $21.00 price objective on shares of Pacific Gas & Electric in a research report on Wednesday, January 21st. Seven equities research analysts have rated the stock with a Buy rating, six have issued a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, the company has a consensus rating of “Hold” and an average price target of $20.55.

Pacific Gas & Electric Trading Down 1.5%

NYSE PCG traded down $0.24 on Wednesday, reaching $14.94. The company had a trading volume of 12,092,227 shares, compared to its average volume of 21,471,891. The stock has a market cap of $32.83 billion, a price-to-earnings ratio of 12.55, a PEG ratio of 0.58 and a beta of 0.38. The stock’s 50 day moving average is $15.62 and its 200-day moving average is $15.42. The company has a quick ratio of 0.89, a current ratio of 0.94 and a debt-to-equity ratio of 1.81. Pacific Gas & Electric has a 52 week low of $12.97 and a 52 week high of $17.95.

Insider Buying and Selling

In other Pacific Gas & Electric news, Director John O. Larsen purchased 7,500 shares of the firm’s stock in a transaction 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 acquisition, the director owned 18,111 shares in the company, valued at approximately $289,051.56. The trade was a 70.68% increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 0.15% of the company’s stock.

Institutional Investors Weigh In On Pacific Gas & Electric

A number of institutional investors and hedge funds have recently made changes to their positions in the business. Miller Howard Investments Inc. NY lifted its position in shares of Pacific Gas & Electric by 4.4% during the fourth quarter. Miller Howard Investments Inc. NY now owns 81,575 shares of the utilities provider’s stock worth $1,311,000 after acquiring an additional 3,423 shares in the last quarter. Farther Finance Advisors LLC grew its holdings in Pacific Gas & Electric by 80.3% during the 4th quarter. Farther Finance Advisors LLC now owns 81,917 shares of the utilities provider’s stock valued at $1,316,000 after buying an additional 36,480 shares in the last quarter. Transcend Capital Advisors LLC increased its position in shares of Pacific Gas & Electric by 45.7% during the fourth quarter. Transcend Capital Advisors LLC now owns 71,081 shares of the utilities provider’s stock valued at $1,142,000 after buying an additional 22,298 shares during the period. SG Americas Securities LLC lifted its holdings in shares of Pacific Gas & Electric by 3,875.9% in the fourth quarter. SG Americas Securities LLC now owns 639,689 shares of the utilities provider’s stock worth $10,280,000 after buying an additional 623,600 shares in the last quarter. Finally, GAMMA Investing LLC boosted its position in shares of Pacific Gas & Electric by 11.0% in the fourth quarter. GAMMA Investing LLC now owns 16,409 shares of the utilities provider’s stock valued at $264,000 after acquiring an additional 1,625 shares during the period. Institutional investors and hedge funds own 78.56% of the company’s stock.

About Pacific Gas & Electric

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.