Pacific Gas & Electric (NYSE:PCG) Stock Passes Above 200 Day Moving Average – Here’s Why

Shares of Pacific Gas & Electric Co. (NYSE:PCG) crossed above its 200-day moving average during trading on Monday . The stock has a 200-day moving average of $15.15 and traded as high as $16.07. Pacific Gas & Electric shares last traded at $15.9910, with a volume of 9,676,391 shares trading hands.

Wall Street Analysts Forecast Growth

Several brokerages recently weighed in on PCG. UBS Group raised their price target on shares of Pacific Gas & Electric from $17.00 to $18.00 and gave the company a “neutral” rating in a research report on Friday, October 24th. Morgan Stanley set a $21.00 target price on Pacific Gas & Electric and gave the company an “outperform” rating in a research note on Wednesday, October 22nd. TD Cowen initiated coverage on Pacific Gas & Electric in a report on Thursday, October 16th. They set a “buy” rating and a $21.00 price target on the stock. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Pacific Gas & Electric in a research report on Monday, December 22nd. Finally, Jefferies Financial Group boosted their target price on Pacific Gas & Electric from $20.00 to $21.00 and gave the stock a “buy” rating in a research report on Wednesday, October 22nd. Two equities research analysts have rated the stock with a Strong Buy rating, seven have given a Buy rating and six have given a Hold rating to the company’s stock. According to MarketBeat, Pacific Gas & Electric has a consensus rating of “Moderate Buy” and a consensus price target of $20.55.

Pacific Gas & Electric Trading Up 1.4%

The company has a current ratio of 0.94, a quick ratio of 0.89 and a debt-to-equity ratio of 1.81. The stock has a market capitalization of $35.15 billion, a PE ratio of 13.44, a P/E/G ratio of 0.66 and a beta of 0.37. The stock has a 50 day moving average price of $15.90 and a 200-day moving average price of $15.15.

Pacific Gas & Electric (NYSE:PCG) last posted its earnings results on Monday, May 15th. The utilities provider reported $0.30 earnings per share for the quarter. The company had revenue of $5.80 billion for the quarter. Pacific Gas & Electric had a return on equity of 11.10% and a net margin of 10.93%. Sell-side analysts expect that Pacific Gas & Electric Co. will post 1.49 earnings per share for the current year.

Pacific Gas & Electric Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, January 15th. Investors of record on Wednesday, December 31st will be issued a $0.05 dividend. The ex-dividend date of this dividend is Wednesday, December 31st. This is a positive change from Pacific Gas & Electric’s previous quarterly dividend of $0.03. This represents a $0.20 dividend on an annualized basis and a dividend yield of 1.3%. Pacific Gas & Electric’s payout ratio is 8.40%.

Insider Transactions at Pacific Gas & Electric

In other Pacific Gas & Electric news, Director John O. Larsen bought 7,500 shares of Pacific Gas & Electric stock in a transaction on Tuesday, November 4th. The stock was acquired at an average cost of $15.96 per share, with a total value of $119,700.00. Following the completion of the acquisition, the director owned 18,111 shares in the company, valued at approximately $289,051.56. This represents a 70.68% increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Company insiders own 0.15% of the company’s stock.

Institutional Investors Weigh In On Pacific Gas & Electric

A number of hedge funds have recently modified their holdings of the business. Root Financial Partners LLC purchased a new stake in shares of Pacific Gas & Electric in the 3rd quarter worth $27,000. Versant Capital Management Inc grew its holdings in Pacific Gas & Electric by 826.2% during the third quarter. Versant Capital Management Inc now owns 1,945 shares of the utilities provider’s stock valued at $29,000 after purchasing an additional 1,735 shares during the period. Cornerstone Planning Group LLC grew its holdings in Pacific Gas & Electric by 3,240.8% during the third quarter. Cornerstone Planning Group LLC now owns 2,372 shares of the utilities provider’s stock valued at $36,000 after purchasing an additional 2,301 shares during the period. Quent Capital LLC purchased a new stake in Pacific Gas & Electric in the third quarter worth about $44,000. Finally, Brown Brothers Harriman & Co. raised its stake in shares of Pacific Gas & Electric by 908.8% in the third quarter. Brown Brothers Harriman & Co. now owns 6,618 shares of the utilities provider’s stock worth $100,000 after buying an additional 5,962 shares during the period. Institutional investors own 78.56% of the company’s stock.

Pacific Gas & Electric Company Profile

Pacific Gas & Electric (NYSE: PCG) is an investor-owned utility holding company whose principal operating subsidiary, Pacific Gas and Electric Company, provides electricity and natural gas service in northern and central California. The company’s core activities include the generation, procurement, transmission and distribution of electric power, as well as the transmission and distribution of natural gas. PG&E serves a broad mix of residential, commercial, and industrial customers across urban and rural communities within its California service territory.

PG&E’s operations encompass utility infrastructure planning and construction, grid operations, customer service and energy procurement.