Pacific Gas & Electric (NYSE:PCG) Cut to “Hold” at Truist Financial

Truist Financial downgraded shares of Pacific Gas & Electric (NYSE:PCG) from a buy rating to a hold rating in a report published on Thursday, Marketbeat reports. They currently have $17.00 price target on the utilities provider’s stock, down from their previous price target of $21.00.

A number of other analysts also recently issued reports on PCG. UBS Group reaffirmed a “buy” rating on shares of Pacific Gas & Electric in a report on Tuesday, August 18th. BMO Capital Markets reiterated a “market perform” rating and issued a $21.00 price objective (down from $28.00) on shares of Pacific Gas & Electric in a report on Monday, August 31st. Jefferies Financial Group set a $13.00 target price on Pacific Gas & Electric in a research report on Tuesday. Wall Street Zen downgraded Pacific Gas & Electric from a “buy” rating to a “hold” rating in a report on Saturday, July 25th. Finally, JPMorgan Chase & Co. dropped their price target on shares of Pacific Gas & Electric from $25.00 to $18.00 and set an “overweight” rating on the stock in a research note on Wednesday. Four 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.com, Pacific Gas & Electric presently has an average rating of “Hold” and an average target price of $18.27.

Pacific Gas & Electric Trading Up 1.7%

Shares of NYSE:PCG opened at $14.20 on Thursday. Pacific Gas & Electric has a 52 week low of $12.59 and a 52 week high of $19.16. The company’s 50 day moving average is $17.08 and its two-hundred day moving average is $17.21. The company has a market cap of $38.06 billion, a PE ratio of 10.29, a P/E/G ratio of 1.22 and a beta of 0.24. The company has a current ratio of 1.22, a quick ratio of 1.15 and a debt-to-equity ratio of 1.90.

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

Insiders Place Their Bets

In other 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 value of $2,848,500.00. Following the completion of the sale, the executive vice president directly owned 230,885 shares of the company’s stock, valued at approximately $4,155,930. This represents a 40.67% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Corporate insiders own 0.22% of the company’s stock.

Institutional Trading of Pacific Gas & Electric

Institutional investors and hedge funds have recently bought and sold shares of the business. CoreCap Advisors LLC boosted its stake in 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 during the period. Fifth Third Wealth Advisors LLC increased its stake in Pacific Gas & Electric by 5.7% in the first quarter. Fifth Third Wealth Advisors LLC now owns 16,368 shares of the utilities provider’s stock valued at $288,000 after purchasing an additional 885 shares during the period. Versant Capital Management Inc increased its stake in Pacific Gas & Electric by 19.6% in the second quarter. Versant Capital Management Inc now owns 6,636 shares of the utilities provider’s stock valued at $112,000 after purchasing an additional 1,088 shares during the period. Commerzbank Aktiengesellschaft FI raised its holdings in shares of Pacific Gas & Electric by 2.7% in the fourth quarter. Commerzbank Aktiengesellschaft FI now owns 42,734 shares of the utilities provider’s stock valued at $687,000 after buying an additional 1,142 shares during the last quarter. Finally, Keating Financial Advisory Services Inc. purchased a new stake in shares of Pacific Gas & Electric in the second quarter valued at about $28,000. Hedge funds and other institutional investors 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: Goldman Sachs maintained its Buy rating on PG&E, providing some support after recent downgrades and the sharp selloff tied to the company’s strategic review. Goldman Sachs Sticks to Its Buy Rating for PG&E
• Positive Sentiment: PG&E announced a virtual power plant program with Google, Tesla and Rewiring America that will connect more than 20,000 customer energy devices and support discounted home-energy upgrades. The initiative could improve grid reliability, manage rising electricity demand and reduce costs over time, although the financial benefit is likely longer term. PG&E Virtual Power Plant Announcement
• Neutral Sentiment: PG&E launched a strategic review of its energy business and financing options. The review could identify ways to strengthen the balance sheet or unlock value, but it also highlights investor concerns about funding needs and the company’s future growth strategy. PG&E Strategic Review
• Negative Sentiment: PG&E plans to defer approximately $2 billion of 2027 spending, reducing planned capital investment from $13.4 billion to $11.4 billion. The move lowers near-term debt-financing needs but raises concerns about slower rate-base growth and reduced long-term earnings expansion. PG&E Spending Deferral
• Negative Sentiment: PG&E said California’s proposed wildfire legislation would improve claims processing and preparedness but would not eliminate the financing risks created by wildfire liability. This keeps borrowing costs, credit quality and potential future liabilities as major investor concerns. PG&E Wildfire Bill Assessment
• Negative Sentiment: Truist downgraded PCG to Hold and cut its price target to $17 from $21, while Bank of America moved the stock to Neutral and JPMorgan lowered its expectations. The revisions reinforce concerns about regulatory risk, financing and growth.

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.