Pacific Gas & Electric Co. (PCG) Raised to Buy at Goldman Sachs Group Inc.
Pacific Gas & Electric Co. (NYSE:PCG) was upgraded by Goldman Sachs Group Inc. from a “neutral” rating to a “buy” rating in a research report issued on Monday, The Fly reports.
Other research analysts have also recently issued research reports about the company. Zacks Investment Research cut Pacific Gas & Electric Co. from a “hold” rating to a “sell” rating in a research note on Tuesday, September 13th. Argus reiterated a “buy” rating and issued a $79.00 price target (up previously from $74.00) on shares of Pacific Gas & Electric Co. in a report on Monday, July 25th. Royal Bank Of Canada upgraded Pacific Gas & Electric Co. from a “sector perform” rating to an “outperform” rating and boosted their price target for the company from $60.00 to $71.00 in a report on Friday, July 15th. Citigroup Inc. reiterated a “hold” rating and issued a $60.00 price target on shares of Pacific Gas & Electric Co. in a report on Tuesday, October 4th. Finally, Deutsche Bank AG lowered their price target on 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. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating and twelve have assigned a buy rating to the company’s stock. The stock currently has an average rating of “Buy” and a consensus price target of $65.75.
Pacific Gas & Electric Co. (NYSE:PCG) traded up 1.00% on Monday, reaching $60.40. The company had a trading volume of 1,999,804 shares. The company has a market capitalization of $30.11 billion, a P/E ratio of 39.76 and a beta of 0.22. The stock’s 50-day moving average is $61.52 and its 200-day moving average is $61.48. Pacific Gas & Electric Co. has a 52 week low of $50.65 and a 52 week high of $65.43.
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Pacific Gas & Electric Co. (NYSE:PCG) last released its earnings results on Thursday, July 28th. The company reported $0.66 EPS for the quarter, missing analysts’ consensus estimates of $0.92 by $0.26. The business had revenue of $4.17 billion for the quarter, compared to the consensus estimate of $4.59 billion. Pacific Gas & Electric Co. had a net margin of 4.51% and a return on equity of 8.27%. The company’s quarterly revenue was down 1.1% compared to the same quarter last year. During the same period in the prior year, the company posted $0.91 EPS. Equities research analysts forecast that Pacific Gas & Electric Co. will post $3.72 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which was paid on Saturday, October 15th. Investors of record on Friday, September 30th were given a $0.49 dividend. This represents a $1.96 annualized dividend and a dividend yield of 3.25%. The ex-dividend date was Wednesday, September 28th. Pacific Gas & Electric Co.’s payout ratio is 128.11%.
Several institutional investors have recently added to or reduced their stakes in PCG. Bessemer Group Inc. increased its position in Pacific Gas & Electric Co. by 40.6% in the first quarter. Bessemer Group Inc. now owns 3,445 shares of the company’s stock valued at $206,000 after buying an additional 995 shares during the last quarter. Laurel Wealth Advisors Inc. increased its position in 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 valued at $227,000 after buying an additional 45 shares during the last quarter. Williams Jones & Associates LLC purchased a new position in Pacific Gas & Electric Co. during the second quarter valued at about $278,000. Parametrica Management Ltd purchased a new position in Pacific Gas & Electric Co. during the second quarter valued at about $361,000. Finally, Wealthsource Partners LLC purchased a new position in Pacific Gas & Electric Co. during the first quarter valued at about $375,000. 79.31% of the stock is currently owned by hedge funds and other institutional investors.
About Pacific Gas & Electric Co.
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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