Pacific Gas & Electric (NYSE:PCG) Rating Increased to Equal Weight at Morgan Stanley

Morgan Stanley upgraded shares of Pacific Gas & Electric (NYSE:PCG) from an underweight rating to an equal weight rating in a report released on Thursday, Marketbeat Ratings reports. They currently have $20.00 price target on the utilities provider’s stock, up from their previous price target of $19.00.

Several other analysts have also recently weighed in on the company. UBS Group set a $19.00 price target on Pacific Gas & Electric in a report on Friday, August 29th. Argus raised shares of Pacific Gas & Electric to a “hold” rating in a research note on Monday, June 16th. Barclays cut 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. Finally, Zacks Research raised shares of Pacific Gas & Electric from a “strong sell” rating to a “hold” rating in a report on Monday, August 18th. Six research analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $20.20.

Pacific Gas & Electric Stock Performance

NYSE PCG opened at $14.89 on Thursday. The company’s 50 day simple moving average is $14.68 and its two-hundred day simple moving average is $15.64. The company has a debt-to-equity ratio of 1.81, a current ratio of 0.94 and a quick ratio of 0.89. Pacific Gas & Electric has a 1 year low of $12.97 and a 1 year high of $21.72. The stock has a market capitalization of $39.85 billion, a PE ratio of 13.66, a P/E/G ratio of 1.12 and a beta of 0.57.

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

Hedge Funds Weigh In On Pacific Gas & Electric

Several hedge funds have recently made changes to their positions in the business. Tidal Investments LLC raised its holdings in shares of Pacific Gas & Electric by 4.0% during the fourth quarter. Tidal Investments LLC now owns 58,203 shares of the utilities provider’s stock valued at $1,175,000 after acquiring an additional 2,265 shares in the last quarter. Vident Advisory LLC bought a new position in Pacific Gas & Electric in the 4th quarter worth $261,000. Woodline Partners LP purchased a new stake in shares of Pacific Gas & Electric in the 4th quarter worth about $2,649,000. Vise Technologies Inc. bought a new stake in shares of Pacific Gas & Electric during the 4th quarter valued at about $252,000. Finally, GF Fund Management CO. LTD. bought a new stake in shares of Pacific Gas & Electric during the 4th quarter valued at about $6,823,000. 78.56% of the stock is 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.