Morgan Stanley Lowers Pacific Gas & Electric (NYSE:PCG) Price Target to $22.00

Pacific Gas & Electric (NYSE:PCG) had its price objective cut by research analysts at Morgan Stanley from $23.00 to $22.00 in a research report issued on Friday,Benzinga reports. The firm presently has an “equal weight” rating on the utilities provider’s stock. Morgan Stanley’s target price suggests a potential upside of 24.86% from the stock’s previous close.

Several other research firms have also recently issued reports on PCG. Weiss Ratings cut shares of Pacific Gas & Electric from a “hold (c+)” rating to a “hold (c)” rating in a research note on Thursday, June 4th. BMO Capital Markets decreased their price target on shares of Pacific Gas & Electric from $28.00 to $27.00 and set an “outperform” rating on the stock in a report on Friday, July 24th. JPMorgan Chase & Co. lowered their price objective on Pacific Gas & Electric from $24.00 to $23.00 and set an “overweight” rating on the stock in a research report on Friday, May 15th. Wall Street Zen lowered Pacific Gas & Electric from a “buy” rating to a “hold” rating in a research note on Saturday, July 25th. Finally, Truist Financial reduced their target price on Pacific Gas & Electric from $23.00 to $21.00 and set a “buy” rating for the company in a research report on Tuesday, August 4th. Seven equities research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $22.20.

Pacific Gas & Electric Price Performance

PCG traded down $0.34 during trading on Friday, reaching $17.62. 12,048,916 shares of the company were exchanged, compared to its average volume of 21,567,914. The company’s 50-day moving average is $17.26 and its two-hundred day moving average is $17.26. The company has a market cap of $47.22 billion, a price-to-earnings ratio of 12.77, a P/E/G ratio of 1.15 and a beta of 0.28. The company has a quick ratio of 1.15, a current ratio of 1.22 and a debt-to-equity ratio of 1.90. Pacific Gas & Electric has a 12-month low of $14.34 and a 12-month high of $19.16.

Pacific Gas & Electric (NYSE:PCG) last posted its earnings results on Thursday, July 23rd. The utilities provider reported $0.40 earnings per share for the quarter, beating analysts’ consensus estimates of $0.36 by $0.04. Pacific Gas & Electric had a return on equity of 12.48% and a net margin of 12.25%.The business had revenue of $5.90 billion during the quarter, compared to analyst estimates of $6.20 billion. During the same quarter in the previous year, the firm earned $0.31 EPS. The company’s quarterly revenue was up .1% compared to the same quarter last year. Pacific Gas & Electric has set its FY 2026 guidance at 1.640-1.660 EPS. Research analysts forecast that Pacific Gas & Electric will post 1.65 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Pacific Gas & Electric news, EVP Marlene Santos sold 158,250 shares of the business’s stock in a transaction that occurred on Wednesday, July 22nd. The shares were sold at an average price of $18.00, for a total value of $2,848,500.00. Following the completion of the transaction, the executive vice president owned 230,885 shares of the company’s stock, valued at $4,155,930. The trade was a 40.67% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 0.22% of the stock is currently owned by corporate insiders.

Institutional Trading of Pacific Gas & Electric

Hedge funds have recently made changes to their positions in the stock. Keating Financial Advisory Services Inc. purchased a new position in Pacific Gas & Electric in the second quarter worth $28,000. Tobam purchased a new stake in Pacific Gas & Electric during the fourth quarter valued at about $30,000. Torren Management LLC purchased a new stake in Pacific Gas & Electric during the fourth quarter valued at about $33,000. Modus Advisors LLC bought a new stake in Pacific Gas & Electric during the fourth quarter worth about $36,000. Finally, Transamerica Financial Advisors LLC bought a new stake in Pacific Gas & Electric during the second quarter worth about $57,000. 78.56% of the stock is owned by institutional investors.

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.