Pacific Gas & Electric (PCG) Downgraded by Mizuho to “Neutral”

Pacific Gas & Electric (NYSE:PCG) was downgraded by stock analysts at Mizuho from a “buy” rating to a “neutral” rating in a research report issued to clients and investors on Friday, The Fly reports.

PCG has been the topic of several other research reports. Evercore ISI lowered their target price on shares of Pacific Gas & Electric from $66.00 to $61.00 in a research note on Monday, October 16th. Royal Bank Of Canada restated a “buy” rating and issued a $70.00 price objective on shares of Pacific Gas & Electric in a report on Tuesday, August 15th. Barclays boosted their price objective on shares of Pacific Gas & Electric from $69.00 to $72.00 and gave the company an “overweight” rating in a report on Friday, September 22nd. BidaskClub upgraded shares of Pacific Gas & Electric from a “hold” rating to a “buy” rating in a report on Tuesday, August 22nd. Finally, Wells Fargo & Company reduced their price objective on shares of Pacific Gas & Electric from $79.00 to $67.00 and set an “outperform” rating on the stock in a report on Monday, October 16th. Six analysts have rated the stock with a hold rating and ten have issued a buy rating to the stock. The stock presently has an average rating of “Buy” and a consensus target price of $67.77.

Shares of Pacific Gas & Electric (NYSE:PCG) opened at $54.24 on Friday. Pacific Gas & Electric has a 52 week low of $49.83 and a 52 week high of $71.57. The company has a debt-to-equity ratio of 0.86, a quick ratio of 0.79 and a current ratio of 0.85. The firm has a market cap of $27,900.00, a PE ratio of 12.60, a PEG ratio of 3.49 and a beta of 0.17.

Pacific Gas & Electric (NYSE:PCG) last posted its quarterly earnings results on Thursday, November 2nd. The utilities provider reported $1.12 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.94 by $0.18. The company had revenue of $4.52 billion during the quarter, compared to analyst estimates of $4.82 billion. Pacific Gas & Electric had a net margin of 12.59% and a return on equity of 11.94%. Pacific Gas & Electric’s revenue for the quarter was down 6.1% compared to the same quarter last year. During the same period last year, the firm posted $0.94 EPS. sell-side analysts forecast that Pacific Gas & Electric will post 3.69 earnings per share for the current fiscal year.

In related news, Director Roger H. Kimmel purchased 4,000 shares of the firm’s stock in a transaction that occurred on Tuesday, September 5th. The stock was purchased at an average cost of $69.68 per share, with a total value of $278,720.00. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, VP David S. Thomason sold 700 shares of the stock in a transaction on Wednesday, November 15th. The stock was sold at an average price of $56.82, for a total value of $39,774.00. Following the completion of the transaction, the vice president now owns 6,657 shares of the company’s stock, valued at approximately $378,250.74. The disclosure for this sale can be found here. Corporate insiders own 0.15% of the company’s stock.

Several large investors have recently bought and sold shares of PCG. IFP Advisors Inc raised its stake in shares of Pacific Gas & Electric by 6.4% in the second quarter. IFP Advisors Inc now owns 8,662 shares of the utilities provider’s stock valued at $575,000 after acquiring an additional 519 shares during the period. Canada Pension Plan Investment Board increased its stake in Pacific Gas & Electric by 8.5% during the second quarter. Canada Pension Plan Investment Board now owns 1,052,879 shares of the utilities provider’s stock worth $69,880,000 after purchasing an additional 82,620 shares during the period. Rhumbline Advisers increased its stake in shares of Pacific Gas & Electric by 2.4% during the second quarter. Rhumbline Advisers now owns 873,361 shares of the utilities provider’s stock worth $57,965,000 after buying an additional 20,608 shares during the period. Blair William & Co. IL boosted its holdings in shares of Pacific Gas & Electric by 7.4% in the second quarter. Blair William & Co. IL now owns 4,315 shares of the utilities provider’s stock valued at $286,000 after acquiring an additional 298 shares during the period. Finally, Sumitomo Mitsui Trust Holdings Inc. raised its position in Pacific Gas & Electric by 1.9% in the second quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 1,691,774 shares of the utilities provider’s stock worth $112,283,000 after acquiring an additional 30,786 shares in the last quarter. 81.14% of the stock is owned by hedge funds and other institutional investors.

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Pacific Gas & Electric 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.

The Fly

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

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