Pacific Gas & Electric (NYSE:PCG) Raised to Strong-Buy at TD Cowen

Key Points

• TD Cowen has upgraded Pacific Gas & Electric (NYSE:PCG) to a "strong-buy" rating, indicating positive outlook for the company's stock.
• The average consensus target price for Pacific Gas & Electric is $20.41, with varying ratings from analysts, including one strong buy, seven buy, and seven hold ratings.
• Pacific Gas & Electric has a market capitalization of $44.15 billion and reported a quarterly net margin of 9.95% with an EPS of $0.30.

Pacific Gas & Electric (NYSE:PCG - Get Free Report) was upgraded by TD Cowen to a "strong-buy" rating in a research report issued to clients and investors on Wednesday,Zacks.com reports.

A number of other equities research analysts have also issued reports on the stock. Morgan Stanley dropped their price objective on shares of Pacific Gas & Electric from $20.00 to $19.50 and set an "equal weight" rating for the company in a report on Thursday, September 25th. Jefferies Financial Group set a $20.00 price objective on shares of Pacific Gas & Electric in a report on Friday, October 3rd. Barclays upped their price objective on shares of Pacific Gas & Electric from $20.00 to $21.00 and gave the company an "overweight" rating in a report on Wednesday, October 1st. Weiss Ratings reissued a "hold (c-)" rating on shares of Pacific Gas & Electric in a report on Wednesday, October 8th. Finally, UBS Group dropped their price objective on shares of Pacific Gas & Electric from $19.00 to $17.00 and set a "neutral" rating for the company in a report on Thursday, September 18th. One research analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating and seven have given a Hold rating to the company. According to MarketBeat, Pacific Gas & Electric presently has an average rating of "Moderate Buy" and a consensus target price of $20.41.

Pacific Gas & Electric Price Performance

Shares of NYSE PCG opened at $16.50 on Wednesday. The firm has a 50-day simple moving average of $15.35 and a 200-day simple moving average of $15.49. The stock has a market capitalization of $44.15 billion, a price-to-earnings ratio of 15.14, a price-to-earnings-growth ratio of 1.25 and a beta of 0.58. The company has a quick ratio of 0.89, a current ratio of 0.94 and a debt-to-equity ratio of 1.81. Pacific Gas & Electric has a 52 week low of $12.97 and a 52 week high of $21.72.

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

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of PCG. Costello Asset Management INC purchased a new position in Pacific Gas & Electric during the first quarter worth about $31,000. Deseret Mutual Benefit Administrators boosted its stake in Pacific Gas & Electric by 45.0% during the first quarter. Deseret Mutual Benefit Administrators now owns 2,173 shares of the utilities provider's stock worth $37,000 after buying an additional 674 shares during the period. Safe Harbor Fiduciary LLC purchased a new position in Pacific Gas & Electric during the first quarter worth about $39,000. Larson Financial Group LLC boosted its stake in Pacific Gas & Electric by 198.1% during the first quarter. Larson Financial Group LLC now owns 3,050 shares of the utilities provider's stock worth $52,000 after buying an additional 2,027 shares during the period. Finally, Financial Network Wealth Advisors LLC boosted its stake in Pacific Gas & Electric by 57.7% during the first quarter. Financial Network Wealth Advisors LLC now owns 3,445 shares of the utilities provider's stock worth $59,000 after buying an additional 1,260 shares during the period. 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.

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