Pacific Gas & Electric (NYSE:PCG) Raised to "Equal Weight" at Morgan Stanley

Key Points

• Pacific Gas & Electric has been upgraded by Morgan Stanley from an "underweight" to an "equal weight" rating, with a new price target of $20.00, indicating a potential upside of 32.63% from its last closing price.
• The stock currently has an average rating of "Moderate Buy" with six analysts rating it as a "Buy" and six as a "Hold," alongside an average price target of $20.40.
• Despite a revenue decline of 1.5% year-over-year, Pacific Gas & Electric reported a quarterly EPS of $0.31, which fell short of analysts' expectations by $0.02.

Pacific Gas & Electric (NYSE:PCG - Get Free Report) was upgraded by stock analysts at Morgan Stanley from an "underweight" rating to an "equal weight" rating in a research note issued on Thursday, Marketbeat.com reports. The brokerage currently has a $20.00 price objective on the utilities provider's stock, up from their previous price objective of $19.00. Morgan Stanley's target price points to a potential upside of 33.96% from the company's current price.

A number of other research analysts have also recently weighed in on PCG. Zacks Research upgraded shares of Pacific Gas & Electric from a "strong sell" rating to a "hold" rating in a report on Monday, August 18th. Argus upgraded shares of Pacific Gas & Electric to a "hold" rating in a report on Monday, June 16th. UBS Group set a $19.00 price objective on shares of Pacific Gas & Electric in a report on Friday, August 29th. Finally, Barclays decreased their price target on shares of Pacific Gas & Electric from $22.00 to $20.00 and set an "overweight" rating for the company in a research note on Tuesday, July 22nd. Six analysts have rated the stock with a Buy rating and six have given a Hold rating to the company. According to data from MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus target price of $20.20.

Pacific Gas & Electric Stock Up 0.2%

Shares of PCG stock traded up $0.03 during trading on Thursday, reaching $14.93. The company's stock had a trading volume of 35,147,612 shares, compared to its average volume of 23,590,336. The company has a debt-to-equity ratio of 1.81, a current ratio of 0.94 and a quick ratio of 0.89. The company has a market capitalization of $39.95 billion, a price-to-earnings ratio of 13.70, a P/E/G ratio of 1.11 and a beta of 0.57. The stock's 50-day moving average price is $14.71 and its 200 day moving average price is $15.63. Pacific Gas & Electric has a 1-year low of $12.97 and a 1-year high of $21.72.

Pacific Gas & Electric (NYSE:PCG - Get Free Report) last announced its quarterly earnings data on Thursday, July 31st. The utilities provider reported $0.31 earnings per share for the quarter, missing analysts' consensus estimates 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 company's revenue for the quarter was down 1.5% on a year-over-year basis. During the same quarter last year, the firm posted $0.31 EPS. Pacific Gas & Electric has set its FY 2025 guidance at 1.480-1.520 EPS. On average, research analysts anticipate that Pacific Gas & Electric will post 1.49 EPS for the current year.

Institutional Trading of Pacific Gas & Electric

Several institutional investors have recently modified their holdings of the stock. State of Tennessee Department of Treasury lifted its position in shares of Pacific Gas & Electric by 3.6% during the 2nd quarter. State of Tennessee Department of Treasury now owns 447,708 shares of the utilities provider's stock worth $6,241,000 after buying an additional 15,473 shares during the last quarter. BI Asset Management Fondsmaeglerselskab A S lifted its position in shares of Pacific Gas & Electric by 499.7% during the 2nd quarter. BI Asset Management Fondsmaeglerselskab A S now owns 433,064 shares of the utilities provider's stock worth $6,037,000 after buying an additional 360,845 shares during the last quarter. Waterloo Capital L.P. purchased a new stake in shares of Pacific Gas & Electric during the 2nd quarter worth approximately $200,000. Rhumbline Advisers lifted its position in shares of Pacific Gas & Electric by 4.4% during the 2nd quarter. Rhumbline Advisers now owns 4,497,447 shares of the utilities provider's stock worth $62,694,000 after buying an additional 189,353 shares during the last quarter. Finally, Handelsbanken Fonder AB purchased a new stake in shares of Pacific Gas & Electric during the 2nd quarter worth approximately $1,298,000. 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.