Pacific Gas & Electric (NYSE:PCG) Cut to “Neutral” at Bank of America

Bank of America downgraded shares of Pacific Gas & Electric (NYSE:PCG) from a buy rating to a neutral rating in a report published on Tuesday morning, Marketbeat Ratings reports. They currently have $13.00 target price on the utilities provider’s stock, down from their previous target price of $24.00.

PCG has been the topic of a number of other research reports. Weiss Ratings downgraded shares of Pacific Gas & Electric from a “hold (c+)” rating to a “hold (c)” rating in a research report on Thursday, June 4th. Wall Street Zen cut shares of Pacific Gas & Electric from a “buy” rating to a “hold” rating in a research report on Saturday, July 25th. Morgan Stanley lowered their target price on shares of Pacific Gas & Electric from $23.00 to $22.00 and set an “equal weight” rating for the company in a research note on Friday, August 21st. BMO Capital Markets restated a “market perform” rating and issued a $21.00 target price (down from $28.00) on shares of Pacific Gas & Electric in a report on Monday. Finally, JPMorgan Chase & Co. cut their price target on shares of 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. Four equities research analysts have rated the stock with a Buy rating and eight have given a Hold rating to the company’s stock. According to MarketBeat, the company has an average rating of “Hold” and an average target price of $18.27.

Pacific Gas & Electric Trading Up 4.6%

Shares of PCG stock opened at $13.94 on Tuesday. Pacific Gas & Electric has a 1-year low of $12.59 and a 1-year high of $19.16. The company has a current ratio of 1.22, a quick ratio of 1.15 and a debt-to-equity ratio of 1.90. The stock has a market cap of $37.36 billion, a price-to-earnings ratio of 10.10, a PEG ratio of 1.14 and a beta of 0.24. The stock has a 50-day moving average of $17.15 and a 200-day moving average of $17.24.

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

Insider Activity

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

Institutional Inflows and Outflows

A number of institutional investors have recently modified their holdings of the stock. Keating Financial Advisory Services Inc. bought a new position in Pacific Gas & Electric during the second quarter worth $28,000. Tobam bought a new stake in Pacific Gas & Electric in the fourth quarter valued at $30,000. Modus Advisors LLC acquired a new position in shares of Pacific Gas & Electric during the fourth quarter valued at about $36,000. Transamerica Financial Advisors LLC acquired a new position in shares of Pacific Gas & Electric during the second quarter valued at about $57,000. Finally, CoreCap Advisors LLC boosted its position in shares of Pacific Gas & Electric by 13.1% during the 2nd quarter. CoreCap Advisors LLC now owns 5,843 shares of the utilities provider’s stock worth $98,000 after purchasing an additional 677 shares in the last quarter. Institutional investors and hedge funds own 78.56% of the company’s stock.

Trending Headlines about Pacific Gas & Electric

Here are the key news stories impacting Pacific Gas & Electric this week:

• Positive Sentiment: PG&E maintained its core safety and compliance investments while revising its 2027 capital plan to approximately $11.4 billion, deferring about $2 billion of spending. The reduction could lower debt-financing needs and borrowing costs in the near term. PG&E to invest $11.4 billion in California in 2027 as part of strategic review
• Positive Sentiment: The company issued 2027 EPS guidance of $1.78 to $1.82, broadly in line with the $1.80 analyst consensus, suggesting earnings remain resilient despite the capital-plan changes.
• Positive Sentiment: PG&E, Google and Rewiring America launched SHARE, a virtual power plant intended to connect more than 20,000 customer-installed energy devices and provide discounted home-energy upgrades. The initiative could support grid reliability and customer affordability, although its financial impact is likely longer term. PG&E, Rewiring America and Google Launch First-of-its-Kind Virtual Power Plant
• Neutral Sentiment: PG&E launched a broad strategic review covering its organization, financing and investment priorities. Management said the review is designed to attract affordable capital and meet California’s rising electricity demand, but the eventual outcome remains uncertain. PG&E Launches Strategic Review
• Negative Sentiment: The failed wildfire-reform effort leaves PG&E exposed to continued liability and financing uncertainty. CEO Patti Poppe urged California lawmakers to revive legislation, saying reform could reduce borrowing costs, restore investment-grade credit and unlock additional investment. PG&E CEO calls on California to pass wildfire reform
• Negative Sentiment: Analyst sentiment weakened: Truist reiterated a Hold rating but cut its target to $17 from $21, while Bank of America downgraded the shares to Neutral. JPMorgan retained Overweight but reduced its target to $18 from $25, reflecting lower valuation expectations.

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.