Brokerages Set Pacific Gas & Electric Co. (NYSE:PCG) Price Target at $22.30

Shares of Pacific Gas & Electric Co. (NYSE:PCG) have been assigned a consensus rating of “Moderate Buy” from the eleven ratings firms that are presently covering the firm, MarketBeat.com reports. One investment analyst has rated the stock with a sell recommendation, three have assigned a hold recommendation and seven have issued a buy recommendation on the company. The average 1-year price target among brokers that have covered the stock in the last year is $22.20.

A number of equities analysts recently commented on PCG shares. JPMorgan Chase & Co. reduced their price objective on Pacific Gas & Electric from $24.00 to $23.00 and set an “overweight” rating on the stock in a research report on Friday, May 15th. Wells Fargo & Company restated an “overweight” rating and issued a $25.00 target price on shares of Pacific Gas & Electric in a report on Tuesday, April 21st. Wall Street Zen downgraded Pacific Gas & Electric from a “buy” rating to a “hold” rating in a research note on Saturday, July 25th. Weiss Ratings lowered Pacific Gas & Electric from a “hold (c+)” rating to a “hold (c)” rating in a report on Thursday, June 4th. Finally, Truist Financial lowered their price target on shares of Pacific Gas & Electric from $23.00 to $21.00 and set a “buy” rating on the stock in a research report on Tuesday.

Insiders Place Their Bets

In other news, EVP Marlene Santos sold 158,250 shares of the stock in a transaction that occurred on Wednesday, July 22nd. The shares were sold at an average price of $18.00, for a total value of $2,848,500.00. Following the completion of the sale, the executive vice president owned 230,885 shares of the company’s stock, valued at $4,155,930. This represents a 40.67% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 0.22% of the stock is owned by insiders.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in the business. Geode Capital Management LLC increased its stake in Pacific Gas & Electric by 1.9% during the fourth quarter. Geode Capital Management LLC now owns 62,134,132 shares of the utilities provider’s stock worth $1,019,297,000 after acquiring an additional 1,132,249 shares during the last quarter. SG Americas Securities LLC increased its position in shares of Pacific Gas & Electric by 366.6% during the 1st quarter. SG Americas Securities LLC now owns 2,984,809 shares of the utilities provider’s stock worth $52,443,000 after purchasing an additional 2,345,120 shares during the last quarter. Pinebridge Investments LLC purchased a new stake in Pacific Gas & Electric in the 4th quarter valued at about $28,967,000. Public Employees Retirement System of Ohio raised its holdings in Pacific Gas & Electric by 0.6% in the 3rd quarter. Public Employees Retirement System of Ohio now owns 684,942 shares of the utilities provider’s stock valued at $10,329,000 after buying an additional 4,248 shares during the period. Finally, Captrust Financial Advisors lifted its position in Pacific Gas & Electric by 59.5% in the fourth quarter. Captrust Financial Advisors now owns 468,091 shares of the utilities provider’s stock valued at $7,522,000 after buying an additional 174,564 shares during the last quarter. 78.56% of the stock is currently owned by institutional investors and hedge funds.

Pacific Gas & Electric Stock Down 1.4%

PCG stock opened at $17.21 on Monday. The company has a market cap of $46.12 billion, a price-to-earnings ratio of 12.47, a PEG ratio of 1.14 and a beta of 0.28. The company has a current ratio of 1.22, a quick ratio of 1.15 and a debt-to-equity ratio of 1.90. Pacific Gas & Electric has a 12 month low of $14.30 and a 12 month high of $19.16. The firm has a 50-day moving average of $17.07 and a two-hundred day moving average of $17.09.

Pacific Gas & Electric (NYSE:PCG) last released its earnings results on Thursday, July 23rd. The utilities provider reported $0.40 earnings per share for the quarter, topping analysts’ consensus estimates of $0.36 by $0.04. The business had revenue of $5.90 billion for the quarter, compared to analyst estimates of $6.20 billion. Pacific Gas & Electric had a net margin of 12.25% and a return on equity of 12.48%. The business’s revenue was up .1% on a year-over-year basis. During the same period last year, the company posted $0.31 EPS. Pacific Gas & Electric has set its FY 2026 guidance at 1.640-1.660 EPS. As a group, analysts forecast that Pacific Gas & Electric will post 1.65 earnings per share for the current fiscal year.

Pacific Gas & Electric Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, July 15th. Shareholders of record on Tuesday, June 30th were issued a $0.05 dividend. This represents a $0.20 annualized dividend and a yield of 1.2%. The ex-dividend date was Tuesday, June 30th. Pacific Gas & Electric’s payout ratio is presently 14.49%.

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.