Pacific Gas & Electric (NYSE:PCG) Stock Rating Upgraded by UBS Group

Pacific Gas & Electric (NYSE:PCG) was upgraded by analysts at UBS Group from a “neutral” rating to a “buy” rating in a report issued on Monday, MarketBeat.com reports.

Other analysts also recently issued reports about the stock. Weiss Ratings reissued a “hold (c)” rating on shares of Pacific Gas & Electric in a report on Monday, December 29th. Morgan Stanley set a $23.00 price objective on Pacific Gas & Electric in a report on Friday, February 20th. JPMorgan Chase & Co. reduced their target price on Pacific Gas & Electric from $22.00 to $21.00 and set an “overweight” rating on the stock in a 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, TD Cowen reissued a “buy” rating on shares of Pacific Gas & Electric in a research note on Thursday, December 4th. Eight research analysts have rated the stock with a Buy rating, five have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $21.09.

Pacific Gas & Electric Stock Performance

Shares of PCG opened at $18.19 on Monday. Pacific Gas & Electric has a 52 week low of $12.97 and a 52 week high of $19.16. The company has a debt-to-equity ratio of 1.84, a quick ratio of 0.92 and a current ratio of 0.97. The company has a market capitalization of $39.97 billion, a PE ratio of 15.41, a PEG ratio of 0.70 and a beta of 0.33. The company’s 50 day moving average price is $16.74 and its 200 day moving average price is $16.07.

Pacific Gas & Electric (NYSE:PCG) last posted its earnings results on Wednesday, February 11th. The utilities provider reported $0.36 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.36. The firm had revenue of $6.80 billion during the quarter, compared to analysts’ expectations of $7.05 billion. Pacific Gas & Electric had a net margin of 10.84% and a return on equity of 11.28%. During the same period in the previous year, the company earned $0.31 earnings per share. Research analysts expect that Pacific Gas & Electric will post 1.49 EPS for the current fiscal year.

Insider Activity at Pacific Gas & Electric

In other news, EVP John R. Simon sold 45,607 shares of the stock in a transaction that occurred on Thursday, February 19th. The stock was sold at an average price of $18.00, for a total transaction of $820,926.00. Following the transaction, the executive vice president owned 392,303 shares in the company, valued at approximately $7,061,454. This trade represents a 10.41% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Insiders own 0.15% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of PCG. Root Financial Partners LLC acquired a new stake in Pacific Gas & Electric during the third quarter worth about $27,000. Tobam acquired a new position in shares of Pacific Gas & Electric in the 4th quarter valued at approximately $30,000. Versant Capital Management Inc lifted its holdings in shares of Pacific Gas & Electric by 826.2% during the 3rd quarter. Versant Capital Management Inc now owns 1,945 shares of the utilities provider’s stock worth $29,000 after acquiring an additional 1,735 shares during the period. Torren Management LLC acquired a new stake in shares of Pacific Gas & Electric during the 4th quarter worth approximately $33,000. Finally, Modus Advisors LLC acquired a new stake in shares of Pacific Gas & Electric during the 4th quarter worth approximately $36,000. 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.