Wall Street Zen Upgrades Pacific Gas & Electric (NYSE:PCG) to Buy

Pacific Gas & Electric (NYSE:PCG) was upgraded by investment analysts at Wall Street Zen from a “hold” rating to a “buy” rating in a note issued to investors on Saturday.

Several other research analysts have also issued reports on the company. BMO Capital Markets raised their target price on Pacific Gas & Electric from $23.00 to $25.00 and gave the stock an “outperform” rating in a research report on Tuesday, October 14th. Jefferies Financial Group raised their target price on Pacific Gas & Electric from $20.00 to $21.00 and gave the stock a “buy” rating in a research report on Wednesday, October 22nd. Wells Fargo & Company raised Pacific Gas & Electric to a “strong-buy” rating in a research report on Tuesday. Weiss Ratings reaffirmed a “hold (c-)” rating on shares of Pacific Gas & Electric in a research report on Wednesday, October 8th. Finally, Barclays raised their target price on Pacific Gas & Electric from $20.00 to $21.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 1st. Two research analysts have rated the stock with a Strong Buy rating, seven have given a Buy rating and six have assigned a Hold rating to the stock. According to data from MarketBeat.com, Pacific Gas & Electric currently has an average rating of “Moderate Buy” and an average target price of $20.64.

Pacific Gas & Electric Stock Up 0.3%

Shares of PCG opened at $15.95 on Friday. Pacific Gas & Electric has a 52 week low of $12.97 and a 52 week high of $21.72. The stock has a market capitalization of $35.05 billion, a price-to-earnings ratio of 13.40, a PEG ratio of 0.66 and a beta of 0.58. The company has a debt-to-equity ratio of 1.81, a quick ratio of 0.89 and a current ratio of 0.94. The stock has a fifty day moving average of $15.59 and a 200-day moving average of $15.45.

Pacific Gas & Electric (NYSE:PCG) last announced its quarterly earnings results on Monday, May 15th. The utilities provider reported $0.30 EPS for the quarter. Pacific Gas & Electric had a return on equity of 11.10% and a net margin of 10.93%.The company had revenue of $5.80 billion during the quarter. As a group, sell-side analysts anticipate that Pacific Gas & Electric will post 1.49 earnings per share for the current fiscal year.

Institutional Trading of Pacific Gas & Electric

A number of large investors have recently bought and sold shares of PCG. Root Financial Partners LLC acquired a new stake in shares of Pacific Gas & Electric in the 3rd quarter valued at about $27,000. Versant Capital Management Inc grew its stake in shares of Pacific Gas & Electric by 826.2% in the 3rd quarter. Versant Capital Management Inc now owns 1,945 shares of the utilities provider’s stock valued at $29,000 after buying an additional 1,735 shares during the period. Costello Asset Management INC acquired a new stake in shares of Pacific Gas & Electric in the 1st quarter valued at about $31,000. Safe Harbor Fiduciary LLC acquired a new stake in shares of Pacific Gas & Electric in the 1st quarter valued at about $39,000. Finally, Quent Capital LLC acquired a new stake in shares of Pacific Gas & Electric in the 3rd quarter valued at about $44,000. 78.56% of the stock is currently owned by institutional investors and hedge funds.

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.