Pacific Gas & Electric (NYSE:PCG) Stock Price Expected to Rise, JPMorgan Chase & Co. Analyst Says

Pacific Gas & Electric (NYSE:PCG) had its target price increased by analysts at JPMorgan Chase & Co. from $21.00 to $24.00 in a research note issued on Wednesday,Benzinga reports. The brokerage currently has an “overweight” rating on the utilities provider’s stock. JPMorgan Chase & Co.‘s target price indicates a potential upside of 31.26% from the company’s current price.

A number of other analysts have also commented on PCG. Jefferies Financial Group reduced their target price on Pacific Gas & Electric from $21.00 to $20.00 and set a “buy” rating for the company in a report on Wednesday, January 28th. TD Cowen reaffirmed a “buy” rating on shares of Pacific Gas & Electric in a report on Thursday, December 4th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Pacific Gas & Electric in a research report on Monday, December 29th. Morgan Stanley set a $23.00 target price on Pacific Gas & Electric in a research report on Friday, February 20th. Finally, Barclays upped their target price on shares of Pacific Gas & Electric from $21.00 to $23.00 and gave the company an “overweight” rating in a research note on Wednesday, February 18th. Eight equities research analysts have rated the stock with a Buy rating, five have issued a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $21.36.

Pacific Gas & Electric Stock Down 0.4%

Shares of NYSE PCG traded down $0.08 during midday trading on Wednesday, hitting $18.29. The stock had a trading volume of 5,512,605 shares, compared to its average volume of 21,841,500. The business’s 50 day moving average is $16.95 and its 200-day moving average is $16.18. Pacific Gas & Electric has a 52 week low of $12.97 and a 52 week high of $19.16. The company has a quick ratio of 0.92, a current ratio of 0.97 and a debt-to-equity ratio of 1.84. The company has a market cap of $40.19 billion, a P/E ratio of 15.50, a PEG ratio of 0.71 and a beta of 0.33.

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

Insider Transactions at Pacific Gas & Electric

In related news, EVP Carla J. Peterman sold 31,786 shares of the firm’s stock in a transaction on Monday, March 16th. The stock was sold at an average price of $18.31, for a total value of $582,001.66. Following the transaction, the executive vice president directly owned 195,091 shares of the company’s stock, valued at approximately $3,572,116.21. This trade represents a 14.01% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Kerry Whorton Cooper sold 2,500 shares of the firm’s stock in a transaction on Tuesday, March 17th. The stock was sold at an average price of $18.68, for a total value of $46,700.00. Following the completion of 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 sold 84,286 shares of company stock worth $1,528,746 in the last three months. Corporate insiders own 0.15% of the company’s stock.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in the stock. Dynamic Technology Lab Private Ltd purchased a new stake in Pacific Gas & Electric in the 1st quarter worth approximately $203,000. Empowered Funds LLC boosted its position in shares of Pacific Gas & Electric by 16.4% in the first quarter. Empowered Funds LLC now owns 46,936 shares of the utilities provider’s stock worth $806,000 after purchasing an additional 6,601 shares during the period. Woodline Partners LP increased its stake in shares of Pacific Gas & Electric by 41.2% in the first quarter. Woodline Partners LP now owns 185,324 shares of the utilities provider’s stock worth $3,184,000 after purchasing an additional 54,033 shares in the last quarter. Focus Partners Wealth raised its position in shares of Pacific Gas & Electric by 93.0% during the 1st quarter. Focus Partners Wealth now owns 83,816 shares of the utilities provider’s stock valued at $1,440,000 after purchasing an additional 40,380 shares during the period. Finally, Handelsbanken Fonder AB bought a new stake in shares of Pacific Gas & Electric during the 2nd quarter valued at $1,298,000. 78.56% of the stock is owned by hedge funds and other institutional investors.

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.