Pacific Gas & Electric Co. (NYSE:PCG) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a report issued 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 equities analysts have also weighed in on PCG. Mizuho restated a “buy” rating and issued a $64.00 price target (up previously from $56.00) on shares of Pacific Gas & Electric Co. in a research note on Tuesday, May 24th. Jefferies Group restated a “buy” rating on shares of Pacific Gas & Electric Co. in a research note on Tuesday, May 24th. JPMorgan Chase & Co. restated a “buy” rating on shares of Pacific Gas & Electric Co. in a research note on Wednesday, July 6th. Royal Bank Of Canada upgraded Pacific Gas & Electric Co. from a “sector perform” rating to an “outperform” rating and lifted their price target for the company from $60.00 to $71.00 in a research note on Friday, July 15th. Finally, Citigroup Inc. restated a “hold” rating and issued a $64.00 price target (up previously from $54.00) on shares of Pacific Gas & Electric Co. in a research note on Wednesday, July 20th. Two analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company. Pacific Gas & Electric Co. presently has an average rating of “Buy” and an average price target of $66.08.

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

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Pacific Gas & Electric Co. (NYSE:PCG) traded down 0.14% during midday trading on Wednesday, hitting $62.46. The stock had a trading volume of 1,281,956 shares. The company has a market cap of $31.14 billion, a PE ratio of 41.12 and a beta of 0.20. Pacific Gas & Electric Co. has a 12-month low of $50.65 and a 12-month high of $65.43. The firm has a 50-day moving average of $63.06 and a 200-day moving average of $61.16.

Pacific Gas & Electric Co. (NYSE:PCG) last released its quarterly earnings data on Thursday, July 28th. The company reported $0.66 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.92 by $0.26. The company had revenue of $4.17 billion for the quarter, compared to analysts’ expectations of $4.59 billion. Pacific Gas & Electric Co. had a net margin of 4.51% and a return on equity of 8.27%. The business’s quarterly revenue was down 1.1% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.91 EPS. Equities research analysts forecast that Pacific Gas & Electric Co. will post $3.72 EPS for the current year.

The business also recently announced 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 annualized dividend and a dividend yield of 3.13%. Pacific Gas & Electric Co.’s dividend payout ratio is currently 128.11%.

Hedge funds and other institutional investors have recently modified their holdings of the company. Williams Jones & Associates LLC bought a new position in shares of Pacific Gas & Electric Co. during the second quarter valued at $278,000. Personal Capital Advisors Corp boosted its position in shares of Pacific Gas & Electric Co. by 39.4% in the second quarter. Personal Capital Advisors Corp now owns 48,548 shares of the company’s stock valued at $3,103,000 after buying an additional 13,713 shares in the last quarter. Paloma Partners Management Co boosted its position in shares of Pacific Gas & Electric Co. by 818.0% in the second quarter. Paloma Partners Management Co now owns 89,739 shares of the company’s stock valued at $5,737,000 after buying an additional 79,963 shares in the last quarter. Janus Capital Management LLC boosted its position in Pacific Gas & Electric Co. by 25.2% in the second quarter. Janus Capital Management LLC now owns 1,575,089 shares of the company’s stock worth $100,679,000 after buying an additional 317,017 shares in the last quarter. Finally, Lord Abbett & CO. LLC boosted its position in Pacific Gas & Electric Co. by 2.3% in the second quarter. Lord Abbett & CO. LLC now owns 568,252 shares of the company’s stock worth $36,323,000 after buying an additional 12,563 shares in the last quarter. Institutional investors and hedge funds own 79.33% of the company’s stock.

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.

5 Day Chart for NYSE:PCG

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