Pacific Gas & Electric Co. (NYSE:PCG) Given Consensus Rating of "Hold" by Brokerages

Key Points

• Pacific Gas & Electric has a consensus “Hold” rating from 12 analysts: nine recommend holding and three recommend buying. The average 12-month price target is $18.09, although several firms recently lowered their targets.
• PCG shares opened at $12.94, near their 52-week low of $12.59, after declining 2%. The company reported quarterly EPS of $0.40, ahead of the $0.36 estimate, but revenue of $5.90 billion fell short of expectations.
• Pacific Gas & Electric declared a quarterly dividend of $0.05 per share, equivalent to a 1.5% annual yield. Insiders sold 166,000 shares worth approximately $2.96 million over the past 90 days, while institutional investors own 78.56% of the stock.

Shares of Pacific Gas & Electric Co. (NYSE:PCG - Get Free Report) have been assigned a consensus recommendation of "Hold" from the twelve analysts that are currently covering the stock, Marketbeat.com reports. Nine analysts have rated the stock with a hold rating and three have issued a buy rating on the company. The average 12-month target price among brokerages that have updated their coverage on the stock in the last year is $18.0909.

Several analysts have recently weighed in on the stock. Bank of America restated a "neutral" rating and set a $13.00 price objective (down from $24.00) on shares of Pacific Gas & Electric in a research report on Tuesday, September 1st. Morgan Stanley cut their price target on shares of Pacific Gas & Electric from $22.00 to $20.00 and set an "equal weight" rating on the stock in a research note on Friday. BMO Capital Markets restated a "market perform" rating and issued a $21.00 price objective (down from $28.00) on shares of Pacific Gas & Electric in a research note on Monday, August 31st. Wall Street Zen cut Pacific Gas & Electric from a "buy" rating to a "hold" rating in a research report on Saturday, July 25th. Finally, JPMorgan Chase & Co. cut their target price on Pacific Gas & Electric from $25.00 to $18.00 and set an "overweight" rating on the stock in a research report on Wednesday, September 2nd.

Insider Activity at Pacific Gas & Electric

In related news, Director William Fugate sold 6,500 shares of the company's stock in a transaction on 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 $1,011,772.80. This represents a 8.12% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Marlene Santos sold 158,250 shares of the company's stock in a transaction dated Wednesday, July 22nd. The shares were sold at an average price of $18.00, for a total transaction of $2,848,500.00. Following the completion of the sale, the executive vice president directly owned 230,885 shares of the company's stock, valued at $4,155,930. The trade was a 40.67% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last ninety days, insiders have sold 166,000 shares of company stock worth $2,960,440. 0.22% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Pacific Gas & Electric

Several institutional investors have recently added to or reduced their stakes in the stock. Fox Hill Wealth Management acquired a new stake in Pacific Gas & Electric during the 2nd quarter worth approximately $1,818,000. Rakuten Investment Management Inc. acquired a new position in shares of Pacific Gas & Electric in the second quarter valued at approximately $6,210,000. Glenview Trust Co acquired a new position in shares of Pacific Gas & Electric in the second quarter valued at approximately $208,000. Empowered Funds LLC purchased a new stake in shares of Pacific Gas & Electric during the second quarter worth approximately $8,566,000. Finally, United Capital Financial Advisors LLC purchased a new stake in shares of Pacific Gas & Electric during the second quarter worth approximately $807,000. Institutional investors and hedge funds own 78.56% of the company's stock.

Pacific Gas & Electric Trading Down 2.0%

PCG opened at $12.94 on Tuesday. Pacific Gas & Electric has a one year low of $12.59 and a one year high of $19.16. The company has a market cap of $34.68 billion, a P/E ratio of 9.38, a PEG ratio of 1.06 and a beta of 0.24. The company has a debt-to-equity ratio of 1.90, a quick ratio of 1.15 and a current ratio of 1.22. The business's 50-day simple moving average is $16.35 and its 200-day simple moving average is $16.83.

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

Pacific Gas & Electric Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, October 15th. Investors of record on Wednesday, September 30th will be paid a dividend of $0.05 per share. This represents a $0.20 dividend on an annualized basis and a yield of 1.5%. The ex-dividend date is Wednesday, September 30th. Pacific Gas & Electric's dividend payout ratio (DPR) is currently 14.49%.

About Pacific Gas & Electric

Pacific Gas & Electric Corporation NYSE: PCG is an energy holding company whose principal subsidiary, Pacific Gas and Electric Company, provides regulated electricity and natural gas services. The utility delivers electricity through its transmission and distribution networks and supplies natural gas to residential, commercial, industrial and agricultural customers.

Pacific Gas and Electric Company serves a large portion of Northern and Central California, including the San Francisco Bay Area and the Central Valley.

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