Pacific Gas & Electric (NYSE:PCG) Price Target Lowered to $19.50 at Morgan Stanley

Key Points

• Morgan Stanley has lowered the price target for Pacific Gas & Electric (NYSE:PCG) from $20.00 to $19.50, while maintaining an "equal weight" rating on the stock.
• Despite the price target reduction, the new target suggests a potential upside of 34.90% from the stock's current price of $14.46.
• Currently, there is a consensus rating of "Moderate Buy" for Pacific Gas & Electric, with six analysts giving it a Buy rating and six giving it a Hold rating.

Pacific Gas & Electric (NYSE:PCG - Get Free Report) had its price objective decreased by investment analysts at Morgan Stanley from $20.00 to $19.50 in a research note issued on Thursday,Benzinga reports. The brokerage currently has an "equal weight" rating on the utilities provider's stock. Morgan Stanley's target price suggests a potential upside of 34.90% from the stock's current price.

A number of other research firms also recently issued reports on PCG. UBS Group lowered their price target on Pacific Gas & Electric from $19.00 to $17.00 and set a "neutral" rating for the company in a research report on Thursday, September 18th. Argus raised Pacific Gas & Electric to a "hold" rating in a research report on Monday, June 16th. Barclays lowered their price target on Pacific Gas & Electric from $22.00 to $20.00 and set an "overweight" rating for the company in a research report on Tuesday, July 22nd. Finally, Zacks Research raised Pacific Gas & Electric from a "strong sell" rating to a "hold" rating in a research report on Monday, August 18th. Six equities research analysts have rated the stock with a Buy rating and six have given a Hold rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $20.15.

Pacific Gas & Electric Trading Down 1.4%

Pacific Gas & Electric stock traded down $0.21 during trading on Thursday, hitting $14.46. The company's stock had a trading volume of 7,539,094 shares, compared to its average volume of 23,752,617. The stock has a market capitalization of $38.68 billion, a price-to-earnings ratio of 13.27, a P/E/G ratio of 1.10 and a beta of 0.57. The stock's fifty day moving average is $14.80 and its 200 day moving average is $15.60. Pacific Gas & Electric has a 1-year low of $12.97 and a 1-year high of $21.72. The company has a debt-to-equity ratio of 1.81, a quick ratio of 0.89 and a current ratio of 0.94.

Pacific Gas & Electric (NYSE:PCG - Get Free Report) last released its earnings results on Thursday, July 31st. The utilities provider reported $0.31 EPS for the quarter, missing the consensus estimate of $0.33 by ($0.02). The business had revenue of $5.90 billion during the quarter, compared to analyst estimates of $6.37 billion. Pacific Gas & Electric had a net margin of 9.95% and a return on equity of 10.13%. The business's revenue for the quarter was down 1.5% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.31 earnings per share. Pacific Gas & Electric has set its FY 2025 guidance at 1.480-1.520 EPS. As a group, equities research analysts predict that Pacific Gas & Electric will post 1.49 EPS for the current year.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of PCG. Vident Advisory LLC acquired a new position in shares of Pacific Gas & Electric in the fourth quarter worth about $261,000. Vise Technologies Inc. acquired a new position in shares of Pacific Gas & Electric in the fourth quarter worth about $252,000. Wealth Enhancement Advisory Services LLC lifted its stake in shares of Pacific Gas & Electric by 35.4% in the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 106,585 shares of the utilities provider's stock worth $2,151,000 after acquiring an additional 27,873 shares in the last quarter. MassMutual Private Wealth & Trust FSB raised its stake in Pacific Gas & Electric by 30.2% during the first quarter. MassMutual Private Wealth & Trust FSB now owns 5,183 shares of the utilities provider's stock valued at $89,000 after buying an additional 1,203 shares in the last quarter. Finally, Centre Asset Management LLC raised its stake in Pacific Gas & Electric by 16.1% during the first quarter. Centre Asset Management LLC now owns 16,650 shares of the utilities provider's stock valued at $286,000 after buying an additional 2,310 shares in the last quarter. Institutional investors and hedge funds own 78.56% of the company's stock.

Pacific Gas & Electric Company Profile

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.

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