Pacific Gas & Electric (NYSE:PCG) Upgraded at Argus

Argus upgraded shares of Pacific Gas & Electric (NYSE:PCG) to a hold rating in a research report released on Monday,Zacks.com reports.

Other equities research analysts have also recently issued research reports about the stock. Evercore ISI boosted their price target on shares of Pacific Gas & Electric from $15.00 to $17.00 and gave the stock an “in-line” rating in a research report on Monday, April 28th. Wells Fargo & Company reiterated an “overweight” rating and set a $24.00 price objective on shares of Pacific Gas & Electric in a research report on Friday, April 25th. Mizuho boosted their price objective on shares of Pacific Gas & Electric from $20.00 to $21.00 and gave the company an “outperform” rating in a research report on Monday, May 19th. Jefferies Financial Group boosted their price objective on shares of Pacific Gas & Electric from $20.00 to $22.00 and gave the company a “buy” rating in a research report on Wednesday, April 23rd. Finally, UBS Group cut shares of Pacific Gas & Electric from a “buy” rating to a “neutral” rating and cut their price target for the stock from $22.00 to $19.00 in a report on Wednesday, March 19th. One analyst has rated the stock with a sell rating, four have given a hold rating and seven have given a buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $20.73.

Pacific Gas & Electric Stock Performance

PCG opened at $14.08 on Monday. The company has a current ratio of 0.95, a quick ratio of 0.90 and a debt-to-equity ratio of 1.79. The company has a market cap of $37.68 billion, a price-to-earnings ratio of 12.92, a PEG ratio of 0.96 and a beta of 0.60. The company’s 50 day moving average is $16.56 and its 200 day moving average is $17.14. Pacific Gas & Electric has a 12-month low of $13.34 and a 12-month high of $21.72.

Pacific Gas & Electric (NYSE:PCG) last issued its quarterly earnings results on Thursday, April 24th. The utilities provider reported $0.33 earnings per share for the quarter, missing the consensus estimate of $0.35 by ($0.02). Pacific Gas & Electric had a net margin of 9.81% and a return on equity of 10.35%. The firm had revenue of $5.98 billion for the quarter, compared to analysts’ expectations of $6.23 billion. During the same period in the prior year, the firm earned $0.37 EPS. Pacific Gas & Electric’s revenue for the quarter was up 2.1% compared to the same quarter last year. On average, equities research analysts predict that Pacific Gas & Electric will post 1.49 EPS for the current year.

Pacific Gas & Electric Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, July 15th. Shareholders of record on Monday, June 30th will be given a dividend of $0.025 per share. This represents a $0.10 annualized dividend and a dividend yield of 0.71%. The ex-dividend date of this dividend is Monday, June 30th. Pacific Gas & Electric’s payout ratio is 9.17%.

Insider Activity at Pacific Gas & Electric

In related news, EVP Carla J. Peterman sold 32,519 shares of the stock in a transaction that occurred on Tuesday, April 29th. The shares were sold at an average price of $17.30, for a total value of $562,578.70. Following the completion of the transaction, the executive vice president now directly owns 151,116 shares of the company’s stock, valued at $2,614,306.80. This trade represents a 17.71% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. 0.14% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Pacific Gas & Electric

Hedge funds and other institutional investors have recently bought and sold shares of the business. Costello Asset Management INC acquired a new stake in shares of Pacific Gas & Electric during the 1st quarter worth approximately $31,000. True Wealth Design LLC lifted its holdings in Pacific Gas & Electric by 1,233.6% in the 4th quarter. True Wealth Design LLC now owns 1,827 shares of the utilities provider’s stock valued at $37,000 after purchasing an additional 1,690 shares in the last quarter. Deseret Mutual Benefit Administrators raised its holdings in shares of Pacific Gas & Electric by 45.0% during the 1st quarter. Deseret Mutual Benefit Administrators now owns 2,173 shares of the utilities provider’s stock worth $37,000 after acquiring an additional 674 shares during the period. Colonial Trust Co SC boosted its position in shares of Pacific Gas & Electric by 563.0% during the 4th quarter. Colonial Trust Co SC now owns 1,916 shares of the utilities provider’s stock valued at $39,000 after acquiring an additional 1,627 shares during the last quarter. Finally, Safe Harbor Fiduciary LLC acquired a new position in shares of Pacific Gas & Electric during the 1st quarter valued at about $39,000. Institutional investors and hedge funds 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.