Brokerages Set Pacific Gas & Electric Co. (NYSE:PCG) Price Target at $20.64

Shares of Pacific Gas & Electric Co. (NYSE:PCG) have received an average recommendation of “Moderate Buy” from the fifteen analysts that are presently covering the stock, Marketbeat.com reports. Six investment analysts have rated the stock with a hold recommendation, seven have issued a buy recommendation and two have issued a strong buy recommendation on the company. The average 12 month target price among brokers that have updated their coverage on the stock in the last year is $20.6364.

PCG has been the topic of several recent research reports. Barclays lifted their price objective on Pacific Gas & Electric from $20.00 to $21.00 and gave the stock an “overweight” rating in a report on Wednesday, October 1st. Weiss Ratings reissued a “hold (c-)” rating on shares of Pacific Gas & Electric in a report on Wednesday, October 8th. Wells Fargo & Company raised Pacific Gas & Electric to a “strong-buy” rating in a report on Tuesday, October 28th. Jefferies Financial Group lifted their price objective on Pacific Gas & Electric from $20.00 to $21.00 and gave the stock a “buy” rating in a report on Wednesday, October 22nd. Finally, Morgan Stanley set a $21.00 price objective on Pacific Gas & Electric and gave the stock an “outperform” rating in a report on Wednesday, October 22nd.

Pacific Gas & Electric Stock Performance

PCG opened at $15.91 on Friday. The firm has a market capitalization of $34.96 billion, a P/E ratio of 13.37, a price-to-earnings-growth ratio of 0.66 and a beta of 0.58. The stock’s 50 day moving average price is $15.61 and its two-hundred day moving average price is $15.42. The company has a quick ratio of 0.89, a current ratio of 0.94 and a debt-to-equity ratio of 1.81. Pacific Gas & Electric has a 12-month low of $12.97 and a 12-month high of $21.72.

Pacific Gas & Electric (NYSE:PCG) last announced its quarterly earnings data on Monday, May 15th. The utilities provider reported $0.30 earnings per share for the quarter. Pacific Gas & Electric had a return on equity of 11.10% and a net margin of 10.93%.The company had revenue of $5.80 billion for the quarter. On average, equities analysts forecast that Pacific Gas & Electric will post 1.49 earnings per share for the current year.

Pacific Gas & Electric Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, October 15th. Stockholders of record on Tuesday, September 30th were issued a dividend of $0.025 per share. This represents a $0.10 annualized dividend and a dividend yield of 0.6%. The ex-dividend date of this dividend was Tuesday, September 30th. Pacific Gas & Electric’s dividend payout ratio (DPR) is presently 8.40%.

Hedge Funds Weigh In On Pacific Gas & Electric

Hedge funds and other institutional investors have recently modified their holdings of the stock. Root Financial Partners LLC bought a new position in shares of Pacific Gas & Electric during the 3rd quarter worth approximately $27,000. Costello Asset Management INC bought a new position in shares of Pacific Gas & Electric during the 1st quarter worth approximately $31,000. Versant Capital Management Inc lifted its position 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 buying an additional 1,735 shares during the period. Safe Harbor Fiduciary LLC bought a new position in shares of Pacific Gas & Electric during the 1st quarter worth approximately $39,000. Finally, Quent Capital LLC bought a new position in shares of Pacific Gas & Electric during the 3rd quarter worth approximately $44,000. Institutional investors own 78.56% of the company’s stock.

Pacific Gas & Electric Company Profile

PG&E Corp. operates as a holding company, which engages in generation, transmission, and distribution of electricity and natural gas to customers. It specializes in energy, utility, power, gas, electricity, solar and sustainability. The company was founded in 1995 and is headquartered in Oakland, CA.