Pacific Gas & Electric (NYSE:PCG) Stock Price Target Cut by JPMorgan Chase & Co.

Pacific Gas & Electric (NYSE:PCG) had its target price reduced by stock analysts at JPMorgan Chase & Co. from $18.00 to $17.00 in a report released on Monday, Benzinga reports. The firm presently has an “overweight” rating on the utilities provider’s stock. JPMorgan Chase & Co.‘s target price suggests a potential upside of 27.66% from the stock’s current price.

A number of other research analysts have also recently issued reports on PCG. Weiss Ratings reissued a “hold (c)” rating on shares of Pacific Gas & Electric in a research report on Tuesday, September 1st. Mizuho cut their price objective on shares of Pacific Gas & Electric from $16.00 to $14.00 and set a “neutral” rating on the stock in a report on Thursday, September 3rd. Bank of America restated a “neutral” rating and issued a $13.00 price objective (down from $24.00) on shares of Pacific Gas & Electric in a report on Tuesday, September 1st. BMO Capital Markets reaffirmed a “market perform” rating and set a $21.00 target price (down from $28.00) on shares of Pacific Gas & Electric in a research note on Monday, August 31st. Finally, UBS Group reaffirmed a “neutral” rating and set a $14.00 target price (down from $19.00) on shares of Pacific Gas & Electric in a research note on Tuesday, September 22nd. Three investment analysts have rated the stock with a Buy rating and nine have assigned a Hold rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $17.36.

Pacific Gas & Electric Price Performance

Shares of PCG stock opened at $13.32 on Monday. The business’s fifty day moving average is $14.73 and its 200 day moving average is $16.21. The company has a quick ratio of 1.15, a current ratio of 1.22 and a debt-to-equity ratio of 1.90. The stock has a market cap of $35.69 billion, a price-to-earnings ratio of 7.79, a PEG ratio of 1.05 and a beta of 0.28. Pacific Gas & Electric has a twelve month low of $11.77 and a twelve month high of $19.16.

Pacific Gas & Electric (NYSE:PCG) last announced its quarterly earnings data on Thursday, July 23rd. The utilities provider reported $0.40 EPS for the quarter, beating the consensus estimate 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 last year, the firm posted $0.31 earnings per share. The company’s revenue for the quarter was up .1% on a year-over-year basis. Pacific Gas & Electric has set its FY 2026 guidance at 1.640-1.660 EPS. Research analysts expect that Pacific Gas & Electric will post 1.65 EPS for the current fiscal year.

Insider Buying and Selling

In related news, Director William Fugate sold 6,500 shares of the stock in a transaction dated Friday, September 4th. The shares were sold at an average price of $13.76, for a total transaction of $89,440.00. Following the sale, the director directly owned 73,530 shares of the company’s stock, valued at approximately $1,011,772.80. This represents a 8.12% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Marlene Santos sold 158,250 shares of the stock in a transaction dated Wednesday, July 22nd. The shares were sold at an average price of $18.00, for a total transaction of $2,848,500.00. Following the sale, the executive vice president directly owned 230,885 shares in the company, valued at $4,155,930. This trade represents a 40.67% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 166,000 shares of company stock worth $2,960,440 in the last quarter. Corporate insiders own 0.22% of the company’s stock.

Institutional Investors Weigh In On Pacific Gas & Electric

Institutional investors have recently made changes to their positions in the company. Fox Hill Wealth Management purchased a new position in Pacific Gas & Electric in the 2nd quarter worth approximately $1,818,000. Rakuten Investment Management Inc. bought a new position in Pacific Gas & Electric in the 2nd quarter valued at approximately $6,210,000. Glenview Trust Co purchased a new stake in Pacific Gas & Electric during the 2nd quarter valued at $208,000. Empowered Funds LLC purchased a new stake in Pacific Gas & Electric during the 2nd quarter valued at $8,566,000. Finally, United Capital Financial Advisors LLC purchased a new stake in Pacific Gas & Electric during the 2nd quarter valued at $807,000. Hedge funds and other institutional investors own 78.56% of the company’s stock.

About Pacific Gas & Electric

Pacific Gas and Electric Corporation, through its principal subsidiary Pacific Gas and Electric Company, is a regulated energy utility serving customers in Northern and Central California. The company delivers electricity and natural gas to residential, commercial, industrial and agricultural customers across its service territory.

PG&E’s operations include the transmission and distribution of electricity, natural gas distribution, and the maintenance and modernization of the infrastructure used to provide these services.