Jefferies Financial Group Cuts Pacific Gas & Electric (NYSE:PCG) Price Target to $20.00

Pacific Gas & Electric (NYSE:PCG) had its price target decreased by Jefferies Financial Group from $21.00 to $20.00 in a report published on Wednesday,Benzinga reports. Jefferies Financial Group currently has a buy rating on the utilities provider’s stock.

Other equities research analysts also recently issued research reports about the stock. UBS Group raised their price objective on shares of Pacific Gas & Electric from $17.00 to $18.00 and gave the stock a “neutral” rating in a research note on Friday, October 24th. Wells Fargo & Company increased their price target on shares of Pacific Gas & Electric from $23.00 to $24.00 and gave the company an “overweight” rating in a report on Tuesday, January 20th. JPMorgan Chase & Co. decreased their price target on shares of Pacific Gas & Electric from $22.00 to $21.00 and set an “overweight” rating on the stock in a research report on Friday, December 12th. Mizuho set a $21.00 price objective on shares of Pacific Gas & Electric in a report on Wednesday, January 21st. Finally, Wall Street Zen raised shares of Pacific Gas & Electric from a “hold” rating to a “buy” rating in a research report on Saturday, January 17th. Seven analysts have rated the stock with a Buy rating, six have assigned a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $20.55.

Pacific Gas & Electric Price Performance

NYSE PCG opened at $15.40 on Wednesday. Pacific Gas & Electric has a twelve month low of $12.97 and a twelve month high of $17.95. The company has a debt-to-equity ratio of 1.81, a quick ratio of 0.89 and a current ratio of 0.94. The stock has a market capitalization of $33.84 billion, a PE ratio of 12.94, a P/E/G ratio of 0.58 and a beta of 0.38. The stock has a 50-day simple moving average of $15.58 and a 200 day simple moving average of $15.43.

Pacific Gas & Electric Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, January 15th. Stockholders of record on Wednesday, December 31st were paid a $0.05 dividend. The ex-dividend date was Wednesday, December 31st. This represents a $0.20 annualized dividend and a dividend yield of 1.3%. This is an increase from Pacific Gas & Electric’s previous quarterly dividend of $0.03. Pacific Gas & Electric’s dividend payout ratio is currently 16.81%.

Insider Activity at Pacific Gas & Electric

In related news, Director John O. Larsen bought 7,500 shares of the business’s stock in a transaction that occurred on Tuesday, November 4th. The stock was acquired at an average price of $15.96 per share, for a total transaction of $119,700.00. Following the transaction, the director directly owned 18,111 shares of the company’s stock, valued at $289,051.56. This represents a 70.68% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available through the SEC website. 0.14% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of PCG. Titleist Asset Management LLC lifted its holdings in shares of Pacific Gas & Electric by 2.1% during the third quarter. Titleist Asset Management LLC now owns 43,832 shares of the utilities provider’s stock valued at $661,000 after acquiring an additional 882 shares during the period. FreeGulliver LLC increased its position in shares of Pacific Gas & Electric by 7.9% during the 3rd quarter. FreeGulliver LLC now owns 13,482 shares of the utilities provider’s stock worth $203,000 after purchasing an additional 987 shares in the last quarter. Commerzbank Aktiengesellschaft FI lifted its holdings in Pacific Gas & Electric by 3.3% during the 2nd quarter. Commerzbank Aktiengesellschaft FI now owns 34,867 shares of the utilities provider’s stock valued at $487,000 after purchasing an additional 1,099 shares during the last quarter. Fifth Third Wealth Advisors LLC lifted its holdings in Pacific Gas & Electric by 8.1% during the 3rd quarter. Fifth Third Wealth Advisors LLC now owns 17,195 shares of the utilities provider’s stock valued at $259,000 after purchasing an additional 1,283 shares during the last quarter. Finally, Covestor Ltd boosted its position in Pacific Gas & Electric by 20.6% in the third quarter. Covestor Ltd now owns 9,029 shares of the utilities provider’s stock valued at $136,000 after buying an additional 1,544 shares in the last quarter. 78.56% of the stock is currently owned by institutional investors and hedge funds.

About Pacific Gas & Electric

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.