Pacific Gas & Electric (NYSE:PCG) Upgraded at Truist Financial

Truist Financial upgraded shares of Pacific Gas & Electric (NYSE:PCG) to a strong-buy rating in a research note published on Monday morning,Zacks.com reports.

Other equities analysts have also issued research reports about the company. Jefferies Financial Group reissued a “hold” rating and set a $19.00 target price (down from $20.00) on shares of Pacific Gas & Electric in a research note on Monday, March 23rd. Morgan Stanley set a $23.00 target price on Pacific Gas & Electric in a research report on Friday, February 20th. Barclays boosted their price target on shares of Pacific Gas & Electric from $21.00 to $23.00 and gave the stock an “overweight” rating in a research note on Wednesday, February 18th. Weiss Ratings reiterated a “hold (c)” rating on shares of Pacific Gas & Electric in a research note on Friday, March 27th. Finally, JPMorgan Chase & Co. boosted their price target on shares of Pacific Gas & Electric from $21.00 to $24.00 and gave the stock an “overweight” rating in a research note on Wednesday, March 18th. One investment analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating, six have assigned a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, Pacific Gas & Electric presently has an average rating of “Moderate Buy” and a consensus target price of $21.50.

Pacific Gas & Electric Stock Down 0.5%

Shares of NYSE:PCG opened at $16.89 on Monday. The business has a 50-day moving average price of $17.97 and a 200 day moving average price of $16.62. The company has a current ratio of 0.97, a quick ratio of 0.92 and a debt-to-equity ratio of 1.84. The company has a market capitalization of $37.13 billion, a price-to-earnings ratio of 14.32, a PEG ratio of 0.65 and a beta of 0.34. Pacific Gas & Electric has a 12-month low of $12.97 and a 12-month high of $19.16.

Pacific Gas & Electric (NYSE:PCG) last issued its quarterly earnings data on Wednesday, February 11th. The utilities provider reported $0.36 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.36. The firm had revenue of $6.80 billion during the quarter, compared to the consensus estimate of $7.05 billion. Pacific Gas & Electric had a return on equity of 11.28% and a net margin of 10.84%.During the same period last year, the company earned $0.31 EPS. Sell-side analysts expect that Pacific Gas & Electric will post 1.65 EPS for the current year.

Pacific Gas & Electric Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Wednesday, April 15th. Shareholders of record on Tuesday, March 31st were paid a dividend of $0.05 per share. The ex-dividend date was Tuesday, March 31st. This represents a $0.20 dividend on an annualized basis and a yield of 1.2%. Pacific Gas & Electric’s dividend payout ratio is 16.95%.

Insiders Place Their Bets

In other Pacific Gas & Electric news, EVP Carla J. Peterman sold 31,786 shares of the stock in a transaction dated Monday, March 16th. The stock was sold at an average price of $18.31, for a total value of $582,001.66. Following the sale, the executive vice president owned 195,091 shares of the company’s stock, valued at $3,572,116.21. This trade represents a 14.01% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, EVP John R. Simon sold 45,607 shares of Pacific Gas & Electric stock in a transaction dated Thursday, February 19th. The shares were sold at an average price of $18.00, for a total value of $820,926.00. Following the completion of the transaction, the executive vice president owned 392,303 shares of the company’s stock, valued at $7,061,454. The trade was a 10.41% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold 84,286 shares of company stock worth $1,528,746 over the last three months. Company insiders own 0.14% of the company’s stock.

Institutional Trading of Pacific Gas & Electric

Several hedge funds have recently added to or reduced their stakes in PCG. Root Financial Partners LLC acquired a new stake in Pacific Gas & Electric in the third quarter valued at approximately $27,000. Versant Capital Management Inc raised its holdings in Pacific Gas & Electric by 826.2% in the third quarter. Versant Capital Management Inc now owns 1,945 shares of the utilities provider’s stock valued at $29,000 after acquiring an additional 1,735 shares in the last quarter. Tobam acquired a new stake in Pacific Gas & Electric in the fourth quarter valued at approximately $30,000. Torren Management LLC acquired a new stake in Pacific Gas & Electric in the fourth quarter valued at approximately $33,000. Finally, Cornerstone Planning Group LLC raised its holdings in Pacific Gas & Electric by 3,240.8% in the third quarter. Cornerstone Planning Group LLC now owns 2,372 shares of the utilities provider’s stock valued at $36,000 after acquiring an additional 2,301 shares in the last quarter. Institutional investors and hedge funds own 78.56% of the company’s stock.

About Pacific Gas & Electric

Pacific Gas & Electric (NYSE: PCG) is an investor-owned utility holding company whose principal operating subsidiary, Pacific Gas and Electric Company, provides electricity and natural gas service in northern and central California. The company’s core activities include the generation, procurement, transmission and distribution of electric power, as well as the transmission and distribution of natural gas. PG&E serves a broad mix of residential, commercial, and industrial customers across urban and rural communities within its California service territory.

PG&E’s operations encompass utility infrastructure planning and construction, grid operations, customer service and energy procurement.