Pacific Gas & Electric (NYSE:PCG) Price Target Cut to $17.00 by Analysts at JPMorgan Chase & Co.

Key Points

• JPMorgan lowered PG&E’s price target from $18 to $17 while maintaining an “overweight” rating, implying approximately 29.4% upside from the stock’s prior close.
• Analyst sentiment is more cautious overall: PG&E has an average “Hold” rating and a consensus price target of $17.36, with several firms recently cutting targets or downgrading the stock.
• PG&E shares traded near $13.13, while the company reported quarterly EPS of $0.40 versus a $0.36 consensus estimate. Institutional investors own approximately 78.6% of the company’s stock.

Pacific Gas & Electric (NYSE:PCG - Get Free Report) had its price objective lowered by equities research analysts at JPMorgan Chase & Co. from $18.00 to $17.00 in a research report issued on Monday, Benzinga reports. The brokerage presently has an "overweight" rating on the utilities provider's stock. JPMorgan Chase & Co.'s price objective points to a potential upside of 29.43% from the stock's previous close.

Other equities analysts also recently issued research reports about the stock. Weiss Ratings restated a "hold (c)" rating on shares of Pacific Gas & Electric in a report on Tuesday, September 1st. Truist Financial downgraded Pacific Gas & Electric from a "buy" rating to a "hold" rating and decreased their target price for the stock from $21.00 to $17.00 in a report on Thursday, September 3rd. Bank of America reissued a "neutral" rating and set a $13.00 price target (down from $24.00) on shares of Pacific Gas & Electric in a research report on Tuesday, September 1st. Mizuho cut their price objective on shares of Pacific Gas & Electric from $16.00 to $14.00 and set a "neutral" rating on the stock in a research note on Thursday, September 3rd. Finally, Wall Street Zen lowered shares of Pacific Gas & Electric from a "buy" rating to a "hold" rating in a report on Saturday, July 25th. Three equities research analysts have rated the stock with a Buy rating and nine have given a Hold rating to the company. Based on data from MarketBeat, the stock presently has an average rating of "Hold" and a consensus price target of $17.36.

Pacific Gas & Electric Stock Up 0.0%

Pacific Gas & Electric stock traded up $0.01 during midday trading on Monday, hitting $13.13. 7,265,253 shares of the company's stock were exchanged, compared to its average volume of 26,533,465. The firm has a 50-day moving average of $14.90 and a two-hundred day moving average of $16.27. Pacific Gas & Electric has a 12 month low of $11.77 and a 12 month high of $19.16. The company has a market cap of $35.20 billion, a PE ratio of 9.51, a P/E/G ratio of 1.05 and a beta of 0.28. The company has a debt-to-equity ratio of 1.90, a quick ratio of 1.15 and a current ratio of 1.22.

Pacific Gas & Electric (NYSE:PCG - Get Free Report) last released its quarterly earnings results on Thursday, July 23rd. The utilities provider reported $0.40 EPS for the quarter, topping the consensus estimate of $0.36 by $0.04. Pacific Gas & Electric had a return on equity of 12.48% and a net margin of 12.25%. The firm had revenue of $5.90 billion during the quarter, compared to analyst estimates of $6.20 billion. During the same period in the previous year, the company posted $0.31 EPS. The business's revenue for the quarter was up .1% compared to the same quarter last year. Pacific Gas & Electric has set its FY 2026 guidance at 1.640-1.660 EPS. As a group, analysts expect that Pacific Gas & Electric will post 1.65 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Pacific Gas & Electric news, Director William Fugate sold 6,500 shares of the stock in a transaction dated Friday, September 4th. The shares were sold at an average price of $13.76, for a total value of $89,440.00. Following the completion of the sale, the director owned 73,530 shares in the company, valued at approximately $1,011,772.80. This represents a 8.12% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director John Larsen bought 7,500 shares of the company's stock in a transaction on Wednesday, September 30th. The stock was bought at an average price of $12.20 per share, with a total value of $91,500.00. Following the completion of the acquisition, the director owned 36,685 shares in the company, valued at $447,557. This represents a 25.70% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. Over the last ninety days, insiders sold 166,000 shares of company stock worth $2,960,440. 0.22% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the stock. Gallagher Fiduciary Advisors LLC acquired a new position in Pacific Gas & Electric during the 2nd quarter worth approximately $300,895,000. Legal & General Group Plc acquired a new stake in shares of Pacific Gas & Electric during the 2nd quarter valued at approximately $398,915,000. Canada Pension Plan Investment Board acquired a new position in Pacific Gas & Electric during the second quarter worth $320,820,000. Barrow Hanley Mewhinney & Strauss LLC acquired a new position in shares of Pacific Gas & Electric during the 2nd quarter worth $314,855,000. Finally, Man Group plc purchased a new position in Pacific Gas & Electric during the 2nd quarter valued at about $188,513,000. Institutional investors and hedge funds own 78.56% of the company's stock.

Pacific Gas & Electric Company Profile

Pacific Gas and Electric Corporation, through its principal subsidiary Pacific Gas and Electric Company, is a regulated energy utility serving customers in Northern and Central California. The company delivers electricity and natural gas to residential, commercial, industrial and agricultural customers across its service territory.

PG&E's operations include the transmission and distribution of electricity, natural gas distribution, and the maintenance and modernization of the infrastructure used to provide these services.

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