Pacific Gas & Electric (NYSE:PCG) Upgraded to Buy at Wall Street Zen

Pacific Gas & Electric (NYSE:PCG) was upgraded by analysts at Wall Street Zen from a “hold” rating to a “buy” rating in a research report issued to clients and investors on Saturday.

Several other equities analysts have also weighed in on the stock. JPMorgan Chase & Co. cut their price objective on shares of Pacific Gas & Electric from $24.00 to $23.00 and set an “overweight” rating on the stock in a report on Friday, May 15th. Barclays increased their price objective on shares of Pacific Gas & Electric from $21.00 to $23.00 and gave the company an “overweight” rating in a report on Wednesday, February 18th. Morgan Stanley set a $22.00 price objective on shares of Pacific Gas & Electric in a report on Thursday, May 21st. Wells Fargo & Company reiterated an “overweight” rating and issued a $25.00 target price on shares of Pacific Gas & Electric in a report on Tuesday, April 21st. Finally, Truist Financial reduced their price target on shares of Pacific Gas & Electric from $23.00 to $22.00 and set a “buy” rating on the stock in a research report on Monday, May 18th. Seven equities research analysts have rated the stock with a Buy rating, four have given a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $22.10.

Pacific Gas & Electric Trading Up 0.9%

Shares of NYSE PCG opened at $16.94 on Friday. The company’s 50 day simple moving average is $16.84 and its 200 day simple moving average is $16.67. Pacific Gas & Electric has a fifty-two week low of $12.97 and a fifty-two week high of $19.16. The firm has a market capitalization of $45.39 billion, a P/E ratio of 13.13, a P/E/G ratio of 0.64 and a beta of 0.27. The company has a debt-to-equity ratio of 1.88, a current ratio of 1.20 and a quick ratio of 1.13.

Pacific Gas & Electric (NYSE:PCG) last announced its quarterly earnings data on Thursday, April 23rd. The utilities provider reported $0.43 earnings per share for the quarter, beating the consensus estimate of $0.39 by $0.04. Pacific Gas & Electric had a net margin of 11.44% and a return on equity of 11.95%. The business had revenue of $6.88 billion for the quarter, compared to analyst estimates of $6.20 billion. During the same period in the prior year, the business posted $0.33 earnings per share. Pacific Gas & Electric’s revenue was up 15.0% compared to the same quarter last year. Pacific Gas & Electric has set its FY 2026 guidance at 1.640-1.660 EPS. On average, analysts predict that Pacific Gas & Electric will post 1.65 EPS for the current year.

Insider Transactions at Pacific Gas & Electric

In other news, EVP Jason M. Glickman sold 47,264 shares of Pacific Gas & Electric stock in a transaction on Tuesday, April 28th. The shares were sold at an average price of $16.35, for a total transaction of $772,766.40. Following the transaction, the executive vice president directly owned 136,433 shares of the company’s stock, valued at $2,230,679.55. This trade represents a 25.73% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Kerry Whorton Cooper sold 2,500 shares of Pacific Gas & Electric stock in a transaction on Tuesday, March 17th. The stock was sold at an average price of $18.68, for a total transaction of $46,700.00. Following the transaction, the director directly owned 73,141 shares in the company, valued at approximately $1,366,273.88. This represents a 3.31% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold a total of 81,550 shares of company stock valued at $1,401,468 over the last three months. 0.22% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Pacific Gas & Electric

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Parallel Advisors LLC raised its holdings in shares of Pacific Gas & Electric by 5.9% during the first quarter. Parallel Advisors LLC now owns 41,792 shares of the utilities provider’s stock worth $734,000 after acquiring an additional 2,313 shares during the period. EverSource Wealth Advisors LLC raised its holdings in shares of Pacific Gas & Electric by 17.8% during the first quarter. EverSource Wealth Advisors LLC now owns 89,298 shares of the utilities provider’s stock worth $1,569,000 after acquiring an additional 13,478 shares during the period. DGS Capital Management LLC acquired a new stake in shares of Pacific Gas & Electric during the first quarter worth $246,000. Hunter Associates Investment Management LLC acquired a new stake in shares of Pacific Gas & Electric during the first quarter worth $383,000. Finally, Harrison Street Private Wealth LLC acquired a new stake in shares of Pacific Gas & Electric during the first quarter worth $3,643,000. 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.