Bank of America Corporation assumed coverage on shares of Pacific Gas & Electric Co. (NYSE:PCG) in a report issued on Tuesday. The brokerage set a “neutral” rating and a $59.00 price target on the utilities provider’s stock. Bank of America Corporation’s target price would suggest a potential upside of 3.04% from the company’s previous close.

A number of other equities analysts have also weighed in on PCG. BidaskClub lowered shares of Pacific Gas & Electric Co. from a “hold” rating to a “sell” rating in a research report on Wednesday, July 12th. J P Morgan Chase & Co boosted their price objective on shares of Pacific Gas & Electric Co. from $74.00 to $76.00 and gave the company an “overweight” rating in a research report on Thursday, October 12th. Goldman Sachs Group, Inc. (The) lowered shares of Pacific Gas & Electric Co. from a “conviction-buy” rating to a “buy” rating and set a $65.00 price objective for the company. in a research report on Monday, October 16th. Mizuho reissued a “buy” rating and issued a $78.00 price objective on shares of Pacific Gas & Electric Co. in a research report on Monday, October 9th. Finally, ValuEngine raised shares of Pacific Gas & Electric Co. from a “hold” rating to a “buy” rating in a research report on Friday, September 1st. Five research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and an average price target of $67.85.

Pacific Gas & Electric Co. (PCG) traded down 0.393% during mid-day trading on Tuesday, reaching $57.035. 3,320,230 shares of the company’s stock were exchanged. The firm’s 50-day moving average is $66.65 and its 200 day moving average is $67.42. Pacific Gas & Electric Co. has a 1-year low of $49.83 and a 1-year high of $71.57. The stock has a market capitalization of $29.25 billion, a PE ratio of 14.062 and a beta of 0.22.

Pacific Gas & Electric Co. (NYSE:PCG) last announced its earnings results on Thursday, July 27th. The utilities provider reported $0.86 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.79 by $0.07. The company had revenue of $4.25 billion during the quarter, compared to analysts’ expectations of $4.34 billion. Pacific Gas & Electric Co. had a net margin of 11.48% and a return on equity of 11.63%. The firm’s quarterly revenue was up 1.9% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.66 earnings per share. Analysts forecast that Pacific Gas & Electric Co. will post $3.68 earnings per share for the current fiscal year.

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In related news, EVP John R. Simon sold 881 shares of the company’s stock in a transaction that occurred on Tuesday, August 22nd. The shares were sold at an average price of $69.43, for a total transaction of $61,167.83. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, SVP Julie Kane sold 2,233 shares of the company’s stock in a transaction that occurred on Monday, August 14th. The stock was sold at an average price of $68.98, for a total transaction of $154,032.34. Following the transaction, the senior vice president now directly owns 10,751 shares of the company’s stock, valued at approximately $741,603.98. The disclosure for this sale can be found here. Insiders have sold 4,915 shares of company stock valued at $340,377 in the last ninety days. 0.15% of the stock is currently owned by company insiders.

Hedge funds have recently modified their holdings of the stock. Piedmont Investment Advisors LLC increased its position in Pacific Gas & Electric Co. by 3.7% during the second quarter. Piedmont Investment Advisors LLC now owns 109,336 shares of the utilities provider’s stock worth $7,257,000 after purchasing an additional 3,919 shares during the last quarter. Cornerstone Capital Management Holdings LLC. increased its position in Pacific Gas & Electric Co. by 110.1% during the second quarter. Cornerstone Capital Management Holdings LLC. now owns 245,226 shares of the utilities provider’s stock worth $16,274,000 after purchasing an additional 128,504 shares during the last quarter. Brookfield Asset Management Inc. increased its position in Pacific Gas & Electric Co. by 4.5% during the first quarter. Brookfield Asset Management Inc. now owns 3,353,119 shares of the utilities provider’s stock worth $222,513,000 after purchasing an additional 143,130 shares during the last quarter. Aperio Group LLC increased its position in Pacific Gas & Electric Co. by 7.0% during the second quarter. Aperio Group LLC now owns 343,548 shares of the utilities provider’s stock worth $22,801,000 after purchasing an additional 22,524 shares during the last quarter. Finally, Lord Abbett & CO. LLC increased its position in Pacific Gas & Electric Co. by 3.3% during the second quarter. Lord Abbett & CO. LLC now owns 559,793 shares of the utilities provider’s stock worth $37,153,000 after purchasing an additional 17,900 shares during the last quarter. 80.66% of the stock is 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), which operates in northern and central California. The Utility is engaged in the 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.

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

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