Pacific Gas & Electric (NYSE:PCG) Now Covered by TD Cowen

Key Points

• TD Cowen has initiated coverage on Pacific Gas & Electric (NYSE:PCG) with a "buy" rating and a price target of $21.00, suggesting a potential upside of 26.01% from its last closing price.
• Currently, the stock has an average rating of "Moderate Buy" among analysts, with a consensus price target of $20.41.
• Pacific Gas & Electric's stock has experienced a year range between a low of $12.97 and a high of $21.72, reflecting considerable volatility over the past twelve months.

Investment analysts at TD Cowen began coverage on shares of Pacific Gas & Electric (NYSE:PCG - Get Free Report) in a research note issued to investors on Thursday, MarketBeat Ratings reports. The brokerage set a "buy" rating and a $21.00 price target on the utilities provider's stock. TD Cowen's price objective indicates a potential upside of 26.01% from the company's previous close.

Other equities analysts also recently issued research reports about the company. Weiss Ratings restated a "hold (c-)" rating on shares of Pacific Gas & Electric in a research report on Wednesday, October 8th. Zacks Research upgraded Pacific Gas & Electric from a "strong sell" rating to a "hold" rating in a research report on Monday, August 18th. Cowen assumed coverage on Pacific Gas & Electric in a research report on Wednesday. They set a "buy" rating on the stock. Jefferies Financial Group set a $20.00 price objective on Pacific Gas & Electric in a research note on Friday, October 3rd. Finally, Morgan Stanley lowered their price objective on Pacific Gas & Electric from $20.00 to $19.50 and set an "equal weight" rating on the stock in a research note on Thursday, September 25th. Eight investment analysts have rated the stock with a Buy rating and seven have given a Hold rating to the stock. Based on data from MarketBeat, the stock has an average rating of "Moderate Buy" and an average price target of $20.41.

Pacific Gas & Electric Stock Up 1.6%

Shares of PCG opened at $16.67 on Thursday. The company has a current ratio of 0.94, a quick ratio of 0.89 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. The stock's 50 day moving average is $15.32 and its two-hundred day moving average is $15.50. The firm has a market cap of $44.59 billion, a P/E ratio of 15.29, a PEG ratio of 1.23 and a beta of 0.58.

Pacific Gas & Electric (NYSE:PCG - Get Free Report) last issued its quarterly earnings data on Monday, May 15th. The utilities provider reported $0.30 EPS for the quarter. The company had revenue of $5.80 billion for the quarter. Pacific Gas & Electric had a return on equity of 10.13% and a net margin of 9.95%. Analysts predict that Pacific Gas & Electric will post 1.49 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Pacific Gas & Electric

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. Vanguard Group Inc. raised its position in Pacific Gas & Electric by 1.2% in the first quarter. Vanguard Group Inc. now owns 257,285,352 shares of the utilities provider's stock valued at $4,420,162,000 after purchasing an additional 2,926,384 shares during the period. Geode Capital Management LLC raised its position in Pacific Gas & Electric by 3.0% in the second quarter. Geode Capital Management LLC now owns 58,079,843 shares of the utilities provider's stock valued at $819,447,000 after purchasing an additional 1,676,093 shares during the period. Northern Trust Corp raised its position in Pacific Gas & Electric by 4.3% in the first quarter. Northern Trust Corp now owns 19,944,322 shares of the utilities provider's stock valued at $342,643,000 after purchasing an additional 818,377 shares during the period. Canada Pension Plan Investment Board raised its position in Pacific Gas & Electric by 352.3% in the first quarter. Canada Pension Plan Investment Board now owns 19,172,519 shares of the utilities provider's stock valued at $329,384,000 after purchasing an additional 14,933,364 shares during the period. Finally, Sessa Capital IM L.P. purchased a new stake in Pacific Gas & Electric in the first quarter valued at $320,984,000. Hedge funds and other institutional investors own 78.56% of the company's stock.

About Pacific Gas & Electric

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.