Pacific Gas & Electric Co. (NYSE:PCG) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a research note issued to investors on Wednesday.

According to Zacks, “PG&E Corporation’s systematic investments in infrastructure projects, backed by a stable financial position, will allow it to improve service reliability and meet increasing customer demand. Further, steady growth in the customer count is expected to boost the company’s top line. PG&E Corporation’s stable financial position allows the company to pay regular dividends, which in turn, help it to retain investor interest. However, cost of compliance to new and stringent regulations is a major concern for PG&E Corporation. Moreover, penalties levied for the San Bruno case and changes in environmental mandates could impact the company’s financial performance.”

Several other research analysts have also commented on the stock. Jefferies Group decreased their price objective on shares of Pacific Gas & Electric Co. from $71.50 to $70.00 and set a “buy” rating for the company in a report on Monday, August 29th. Deutsche Bank AG decreased their price objective on shares of Pacific Gas & Electric Co. from $68.00 to $67.00 and set a “buy” rating for the company in a report on Friday, July 29th. Argus restated a “buy” rating and issued a $79.00 price objective (up from $74.00) on shares of Pacific Gas & Electric Co. in a report on Monday, July 25th. Citigroup Inc. restated a “hold” rating and issued a $64.00 price objective (up from $54.00) on shares of Pacific Gas & Electric Co. in a report on Wednesday, July 20th. Finally, Royal Bank Of Canada upgraded shares of Pacific Gas & Electric Co. from a “sector perform” rating to an “outperform” rating and upped their price objective for the stock from $60.00 to $71.00 in a report on Friday, July 15th. Two analysts have rated the stock with a hold rating and twelve have given a buy rating to the stock. The stock currently has a consensus rating of “Buy” and a consensus price target of $66.08.

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

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Shares of Pacific Gas & Electric Co. (NYSE:PCG) traded down 0.13% on Wednesday, hitting $62.47. 1,317,129 shares of the company’s stock were exchanged. Pacific Gas & Electric Co. has a 12 month low of $50.65 and a 12 month high of $65.43. The stock’s 50 day moving average is $63.06 and its 200 day moving average is $61.16. The firm has a market cap of $31.14 billion, a P/E ratio of 41.13 and a beta of 0.20.

Pacific Gas & Electric Co. (NYSE:PCG) last issued its quarterly earnings data on Thursday, July 28th. The company reported $0.66 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.92 by $0.26. Pacific Gas & Electric Co. had a return on equity of 8.27% and a net margin of 4.51%. The company earned $4.17 billion during the quarter, compared to the consensus estimate of $4.59 billion. During the same quarter last year, the company posted $0.91 earnings per share. The firm’s revenue for the quarter was down 1.1% compared to the same quarter last year. On average, equities analysts predict that Pacific Gas & Electric Co. will post $3.72 earnings per share for the current year.

The business also recently declared a quarterly dividend, which will be paid on Saturday, October 15th. Stockholders of record on Friday, September 30th will be issued a dividend of $0.49 per share. This represents a $1.96 dividend on an annualized basis and a dividend yield of 3.13%. Pacific Gas & Electric Co.’s payout ratio is presently 128.11%.

Hedge funds have recently made changes to their positions in the stock. Laurel Wealth Advisors Inc. increased its stake in shares of Pacific Gas & Electric Co. by 1.3% in the second quarter. Laurel Wealth Advisors Inc. now owns 3,547 shares of the company’s stock worth $227,000 after buying an additional 45 shares during the last quarter. Boothbay Fund Management LLC increased its stake in shares of Pacific Gas & Electric Co. by 0.5% in the first quarter. Boothbay Fund Management LLC now owns 9,224 shares of the company’s stock worth $551,000 after buying an additional 46 shares during the last quarter. Wealthsource Partners LLC increased its stake in shares of Pacific Gas & Electric Co. by 4.1% in the second quarter. Wealthsource Partners LLC now owns 6,545 shares of the company’s stock worth $418,000 after buying an additional 260 shares during the last quarter. Atlantic Trust Group LLC increased its stake in shares of Pacific Gas & Electric Co. by 2.0% in the second quarter. Atlantic Trust Group LLC now owns 34,905 shares of the company’s stock worth $2,231,000 after buying an additional 683 shares during the last quarter. Finally, World Asset Management Inc increased its stake in shares of Pacific Gas & Electric Co. by 1.5% in the second quarter. World Asset Management Inc now owns 50,827 shares of the company’s stock worth $3,249,000 after buying an additional 763 shares during the last quarter. 79.33% of the stock is currently owned by hedge funds and other institutional investors.

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). The Utility’s operations include 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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