Pacific Gas & Electric (NYSE:PCG) Upgraded to "Hold" at Zacks Research

Key Points

• Pacific Gas & Electric (PCG) has been upgraded by Zacks Research from a "strong sell" rating to a "hold" rating, signaling a more favorable outlook for the stock.
• The average price target for PCG shares is currently at $20.55, with seven analysts giving a Buy rating, five a Hold rating, and one a Sell rating.
• In the most recent earnings report, Pacific Gas & Electric missed analysts' consensus estimates, reporting $0.31 earnings per share against the expected $0.33.

Zacks Research upgraded shares of Pacific Gas & Electric (NYSE:PCG - Free Report) from a strong sell rating to a hold rating in a report issued on Monday morning,Zacks.com reports.

Several other equities analysts also recently weighed in on the stock. Barclays dropped their target price on shares of Pacific Gas & Electric from $22.00 to $20.00 and set an "overweight" rating for the company in a report on Tuesday, July 22nd. Mizuho raised their target price on shares of Pacific Gas & Electric from $20.00 to $21.00 and gave the company an "outperform" rating in a report on Monday, May 19th. Evercore ISI raised their target price on shares of Pacific Gas & Electric from $15.00 to $17.00 and gave the company an "in-line" rating in a report on Monday, April 28th. Jefferies Financial Group raised their target price on shares of Pacific Gas & Electric from $20.00 to $22.00 and gave the company a "buy" rating in a report on Wednesday, April 23rd. Finally, Wells Fargo & Company reiterated an "overweight" rating and set a $24.00 price target on shares of Pacific Gas & Electric in a report on Friday, April 25th. Seven investment analysts have rated the stock with a Buy rating, five have assigned a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, the stock has an average rating of "Hold" and a consensus price target of $20.55.

Pacific Gas & Electric Price Performance

Shares of PCG traded up $0.4950 during trading hours on Monday, reaching $15.1650. The company had a trading volume of 27,071,795 shares, compared to its average volume of 28,466,784. The firm has a 50 day simple moving average of $14.19 and a 200-day simple moving average of $15.73. The company has a current ratio of 0.94, a quick ratio of 0.89 and a debt-to-equity ratio of 1.81. The company has a market capitalization of $40.58 billion, a price-to-earnings ratio of 13.91, a PEG ratio of 1.13 and a beta of 0.54. Pacific Gas & Electric has a 12-month low of $12.97 and a 12-month high of $21.72.

Pacific Gas & Electric (NYSE:PCG - Get Free Report) last announced its quarterly earnings results on Thursday, July 31st. The utilities provider reported $0.31 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.33 by ($0.02). The company had revenue of $5.90 billion during the quarter, compared to analysts' expectations 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 prior year, the business earned $0.31 EPS. Pacific Gas & Electric has set its FY 2025 guidance at 1.480-1.520 EPS. Research analysts expect that Pacific Gas & Electric will post 1.49 earnings per share for the current year.

Institutional Investors Weigh In On Pacific Gas & Electric

A number of hedge funds and other institutional investors have recently modified their holdings of the company. State of Tennessee Department of Treasury boosted its position in shares of Pacific Gas & Electric by 3.6% in the second quarter. State of Tennessee Department of Treasury now owns 447,708 shares of the utilities provider's stock worth $6,241,000 after acquiring an additional 15,473 shares during the last quarter. BI Asset Management Fondsmaeglerselskab A S boosted its position in shares of Pacific Gas & Electric by 499.7% in the second quarter. BI Asset Management Fondsmaeglerselskab A S now owns 433,064 shares of the utilities provider's stock worth $6,037,000 after acquiring an additional 360,845 shares during the last quarter. Waterloo Capital L.P. acquired a new stake in shares of Pacific Gas & Electric in the second quarter worth approximately $200,000. Rhumbline Advisers boosted its position in shares of Pacific Gas & Electric by 4.4% in the second quarter. Rhumbline Advisers now owns 4,497,447 shares of the utilities provider's stock worth $62,694,000 after acquiring an additional 189,353 shares during the last quarter. Finally, Handelsbanken Fonder AB acquired a new stake in shares of Pacific Gas & Electric in the second quarter worth approximately $1,298,000. 78.56% of the stock is currently owned by hedge funds and other institutional investors.

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.