Jefferies Financial Group Issues Pessimistic Forecast for Pacific Gas & Electric (NYSE:PCG) Stock Price

Pacific Gas & Electric (NYSE:PCG) had its target price reduced by research analysts at Jefferies Financial Group from $21.00 to $20.00 in a research note issued on Wednesday,Benzinga reports. The brokerage currently has a “buy” rating on the utilities provider’s stock. Jefferies Financial Group’s price target would suggest a potential upside of 32.14% from the company’s current price.

PCG has been the subject of a number of other reports. Weiss Ratings restated a “hold (c)” rating on shares of Pacific Gas & Electric in a report on Monday, December 29th. JPMorgan Chase & Co. decreased their target price on Pacific Gas & Electric from $22.00 to $21.00 and set an “overweight” rating for the company in a research note on Friday, December 12th. UBS Group lifted their price target on Pacific Gas & Electric from $17.00 to $18.00 and gave the stock a “neutral” rating in a research report on Friday, October 24th. Barclays increased their price objective on Pacific Gas & Electric from $20.00 to $21.00 and gave the company an “overweight” rating in a research report on Wednesday, October 1st. Finally, Mizuho set a $21.00 target price on shares of Pacific Gas & Electric in a research report on Wednesday, January 21st. Seven research analysts have rated the stock with a Buy rating, six have issued a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, Pacific Gas & Electric currently has an average rating of “Hold” and a consensus price target of $20.55.

Pacific Gas & Electric Trading Up 1.4%

Shares of PCG stock opened at $15.14 on Wednesday. Pacific Gas & Electric has a 12 month low of $12.97 and a 12 month high of $17.95. The company has a market cap of $33.27 billion, a PE ratio of 12.72, a price-to-earnings-growth ratio of 0.57 and a beta of 0.38. The company has a quick ratio of 0.89, a current ratio of 0.94 and a debt-to-equity ratio of 1.81. The business’s 50 day moving average is $15.59 and its two-hundred day moving average is $15.42.

Insider Activity at Pacific Gas & Electric

In other Pacific Gas & Electric news, Director John O. Larsen bought 7,500 shares of the firm’s stock in a transaction dated Tuesday, November 4th. The shares were acquired at an average cost of $15.96 per share, for a total transaction of $119,700.00. Following the transaction, the director owned 18,111 shares in the company, valued at approximately $289,051.56. The trade was a 70.68% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which is available through the SEC website. Insiders own 0.14% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Root Financial Partners LLC acquired a new position in shares of Pacific Gas & Electric in the 3rd quarter worth approximately $27,000. Versant Capital Management Inc grew its position 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 during the period. Cornerstone Planning Group LLC raised its stake in Pacific Gas & Electric by 3,240.8% during the third quarter. Cornerstone Planning Group LLC now owns 2,372 shares of the utilities provider’s stock worth $36,000 after acquiring an additional 2,301 shares in the last quarter. Quent Capital LLC acquired a new position in Pacific Gas & Electric during the third quarter worth $44,000. Finally, Sentry Investment Management LLC bought a new position in shares of Pacific Gas & Electric during the second quarter valued at $96,000. Institutional investors own 78.56% of the company’s stock.

Pacific Gas & Electric Company Profile

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.