JPMorgan Chase & Co. Cuts Pacific Gas & Electric (NYSE:PCG) Price Target to $18.00

Pacific Gas & Electric (NYSE:PCG) had its price target reduced by JPMorgan Chase & Co. from $25.00 to $18.00 in a research note published on Wednesday,Benzinga reports. JPMorgan Chase & Co. currently has an overweight rating on the utilities provider’s stock.

Other research analysts also recently issued research reports about the stock. Wells Fargo & Company downgraded shares of Pacific Gas & Electric from an “overweight” rating to a “buy” rating in a research report on Monday. Bank of America reaffirmed a “neutral” rating and issued a $13.00 target price (down from $24.00) on shares of Pacific Gas & Electric in a research report on Tuesday. BMO Capital Markets reiterated a “market perform” rating and set a $21.00 target price (down from $28.00) on shares of Pacific Gas & Electric in a research note on Monday. Jefferies Financial Group set a $13.00 price target on Pacific Gas & Electric in a report on Tuesday. Finally, Morgan Stanley dropped their price target on Pacific Gas & Electric from $23.00 to $22.00 and set an “equal weight” rating on the stock in a research note on Friday, August 21st. Four equities research analysts have rated the stock with a Buy rating and eight have issued a Hold rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $18.27.

Pacific Gas & Electric Price Performance

Shares of NYSE:PCG opened at $14.20 on Wednesday. Pacific Gas & Electric has a fifty-two week low of $12.59 and a fifty-two week high of $19.16. The business has a 50-day simple moving average of $17.08 and a two-hundred day simple moving average of $17.21. The company has a debt-to-equity ratio of 1.90, a quick ratio of 1.15 and a current ratio of 1.22. The firm has a market cap of $38.06 billion, a price-to-earnings ratio of 10.29, a price-to-earnings-growth ratio of 1.19 and a beta of 0.24.

Pacific Gas & Electric (NYSE:PCG) last posted its earnings results on Thursday, July 23rd. The utilities provider reported $0.40 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.36 by $0.04. Pacific Gas & Electric had a net margin of 12.25% and a return on equity of 12.48%. The business had revenue of $5.90 billion for the quarter, compared to analysts’ expectations of $6.20 billion. During the same quarter in the prior year, the business earned $0.31 EPS. The business’s revenue for the quarter was up .1% compared to the same quarter last year. Pacific Gas & Electric has set its FY 2026 guidance at 1.640-1.660 EPS. On average, analysts expect that Pacific Gas & Electric will post 1.65 earnings per share for the current year.

Insider Buying and Selling at Pacific Gas & Electric

In related news, EVP Marlene Santos sold 158,250 shares of the firm’s 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 transaction, the executive vice president owned 230,885 shares of the company’s stock, valued at approximately $4,155,930. This trade represents a 40.67% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 0.22% of the stock is owned by company insiders.

Institutional Trading of Pacific Gas & Electric

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Keating Financial Advisory Services Inc. purchased a new position in shares of Pacific Gas & Electric during the 2nd quarter worth $28,000. Tobam bought a new stake in shares of Pacific Gas & Electric during the 4th quarter valued at $30,000. Modus Advisors LLC bought a new stake in shares of Pacific Gas & Electric during the 4th quarter valued at $36,000. Transamerica Financial Advisors LLC purchased a new stake in shares of Pacific Gas & Electric in the 2nd quarter worth $57,000. Finally, CoreCap Advisors LLC increased its stake in shares of Pacific Gas & Electric by 13.1% in the 2nd quarter. CoreCap Advisors LLC now owns 5,843 shares of the utilities provider’s stock worth $98,000 after purchasing an additional 677 shares in the last quarter. 78.56% of the stock is owned by hedge funds and other institutional investors.

More Pacific Gas & Electric News

Here are the key news stories impacting Pacific Gas & Electric this week:

• Positive Sentiment: Goldman Sachs maintained its Buy rating on PG&E, providing some support after recent downgrades and the sharp selloff tied to the company’s strategic review. Goldman Sachs Sticks to Its Buy Rating for PG&E
• Positive Sentiment: PG&E announced a virtual power plant program with Google, Tesla and Rewiring America that will connect more than 20,000 customer energy devices and support discounted home-energy upgrades. The initiative could improve grid reliability, manage rising electricity demand and reduce costs over time, although the financial benefit is likely longer term. PG&E Virtual Power Plant Announcement
• Neutral Sentiment: PG&E launched a strategic review of its energy business and financing options. The review could identify ways to strengthen the balance sheet or unlock value, but it also highlights investor concerns about funding needs and the company’s future growth strategy. PG&E Strategic Review
• Negative Sentiment: PG&E plans to defer approximately $2 billion of 2027 spending, reducing planned capital investment from $13.4 billion to $11.4 billion. The move lowers near-term debt-financing needs but raises concerns about slower rate-base growth and reduced long-term earnings expansion. PG&E Spending Deferral
• Negative Sentiment: PG&E said California’s proposed wildfire legislation would improve claims processing and preparedness but would not eliminate the financing risks created by wildfire liability. This keeps borrowing costs, credit quality and potential future liabilities as major investor concerns. PG&E Wildfire Bill Assessment
• Negative Sentiment: Truist downgraded PCG to Hold and cut its price target to $17 from $21, while Bank of America moved the stock to Neutral and JPMorgan lowered its expectations. The revisions reinforce concerns about regulatory risk, financing and growth.

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.