Pacific Gas & Electric (NYSE:PCG) Price Target Cut to $22.00 by Analysts at Morgan Stanley

Key Points

• Morgan Stanley cut PG&E’s price target to $22 from $23 while maintaining an “equal weight” rating, implying roughly 24.9% upside from the prior close. The analyst consensus remains “Moderate Buy,” with an average target of $22.20.
• PG&E shares fell 1.9% to $17.62. The utility recently reported quarterly EPS of $0.40, beating estimates of $0.36, while revenue of $5.90 billion came in below the $6.20 billion consensus.
• Institutional investors own 78.56% of PG&E, with several large funds—including Legal & General, Canada Pension Plan Investment Board and Geode Capital—adding or initiating positions. Separately, an executive vice president sold 158,250 shares under a pre-arranged trading plan.

Pacific Gas & Electric (NYSE:PCG - Get Free Report) had its price objective dropped by analysts at Morgan Stanley from $23.00 to $22.00 in a research note issued on Friday,Benzinga reports. The firm presently has an "equal weight" rating on the utilities provider's stock. Morgan Stanley's price objective indicates a potential upside of 24.86% from the stock's previous close.

Other equities analysts have also recently issued research reports about the stock. BMO Capital Markets dropped their price target on shares of Pacific Gas & Electric from $28.00 to $27.00 and set an "outperform" rating on the stock in a research report on Friday, July 24th. Truist Financial dropped their target price on Pacific Gas & Electric from $23.00 to $21.00 and set a "buy" rating on the stock in a report on Tuesday, August 4th. Weiss Ratings cut Pacific Gas & Electric from a "hold (c+)" rating to a "hold (c)" rating in a research report on Thursday, June 4th. JPMorgan Chase & Co. decreased their price target on Pacific Gas & Electric from $24.00 to $23.00 and set an "overweight" rating for the company in a report on Friday, May 15th. Finally, Wall Street Zen cut Pacific Gas & Electric from a "buy" rating to a "hold" rating in a research note on Saturday, July 25th. Seven equities research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company's stock. According to MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus price target of $22.20.

Pacific Gas & Electric Stock Down 1.9%

Shares of PCG traded down $0.34 during trading hours on Friday, reaching $17.62. The stock had a trading volume of 12,048,916 shares, compared to its average volume of 21,567,914. Pacific Gas & Electric has a 12 month low of $14.34 and a 12 month high of $19.16. The firm has a 50-day simple moving average of $17.26 and a 200 day simple moving average of $17.26. The company has a current ratio of 1.22, a quick ratio of 1.15 and a debt-to-equity ratio of 1.90. The company has a market capitalization of $47.22 billion, a price-to-earnings ratio of 12.77, a P/E/G ratio of 1.15 and a beta of 0.28.

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

Insider Buying and Selling at Pacific Gas & Electric

In related news, EVP Marlene Santos sold 158,250 shares of the 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 transaction, the executive vice president owned 230,885 shares in the company, valued at approximately $4,155,930. This represents a 40.67% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Company insiders own 0.22% of the company's stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the stock. Geode Capital Management LLC raised its holdings in shares of Pacific Gas & Electric by 1.9% in the 4th quarter. Geode Capital Management LLC now owns 62,134,132 shares of the utilities provider's stock worth $1,019,297,000 after purchasing an additional 1,132,249 shares during the period. Gallagher Fiduciary Advisors LLC purchased a new stake in Pacific Gas & Electric in the second quarter worth $300,895,000. Legal & General Group Plc bought a new stake in shares of Pacific Gas & Electric in the second quarter valued at $398,915,000. Canada Pension Plan Investment Board purchased a new position in shares of Pacific Gas & Electric during the 2nd quarter valued at $320,820,000. Finally, Barrow Hanley Mewhinney & Strauss LLC purchased a new position in shares of Pacific Gas & Electric during the 2nd quarter valued at $314,855,000. 78.56% of the stock is owned by 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.

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