Pacific Gas & Electric (NYSE:PCG) Rating Increased to Strong-Buy at Truist Financial

Truist Financial upgraded shares of Pacific Gas & Electric (NYSE:PCG) to a strong-buy rating in a research note issued to investors on Monday morning,Zacks.com reports.

Several other equities analysts have also weighed in on PCG. Morgan Stanley set a $23.00 target price on Pacific Gas & Electric in a research note on Friday, February 20th. Wells Fargo & Company reissued an “overweight” rating and issued a $25.00 target price on shares of Pacific Gas & Electric in a research note on Tuesday. Mizuho set a $21.00 target price on Pacific Gas & Electric in a research note on Wednesday, January 21st. Wall Street Zen lowered Pacific Gas & Electric from a “buy” rating to a “hold” rating in a research note on Saturday, February 14th. Finally, Barclays increased their target price on Pacific Gas & Electric from $21.00 to $23.00 and gave the company an “overweight” rating in a research note on Wednesday, February 18th. One equities research analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating, six have given a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, Pacific Gas & Electric has a consensus rating of “Moderate Buy” and an average price target of $21.50.

Pacific Gas & Electric Trading Up 0.4%

Shares of Pacific Gas & Electric stock traded up $0.07 on Monday, hitting $17.05. 6,001,694 shares of the company’s stock traded hands, compared to its average volume of 22,314,600. Pacific Gas & Electric has a one year low of $12.97 and a one year high of $19.16. The firm’s 50-day moving average price is $17.97 and its two-hundred day moving average price is $16.62. The company has a debt-to-equity ratio of 1.84, a current ratio of 0.97 and a quick ratio of 0.92. The stock has a market capitalization of $37.46 billion, a PE ratio of 14.45, a price-to-earnings-growth ratio of 0.66 and a beta of 0.34.

Pacific Gas & Electric (NYSE:PCG) last released its earnings results on Wednesday, February 11th. The utilities provider reported $0.36 earnings per share for the quarter, meeting the consensus estimate of $0.36. Pacific Gas & Electric had a return on equity of 11.28% and a net margin of 10.84%.The firm had revenue of $6.80 billion for the quarter, compared to analyst estimates of $7.05 billion. During the same quarter in the prior year, the firm posted $0.31 earnings per share. On average, research analysts expect that Pacific Gas & Electric will post 1.65 EPS for the current fiscal year.

Pacific Gas & Electric Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Wednesday, April 15th. Shareholders of record on Tuesday, March 31st were issued a $0.05 dividend. This represents a $0.20 annualized dividend and a dividend yield of 1.2%. The ex-dividend date was Tuesday, March 31st. Pacific Gas & Electric’s dividend payout ratio is 16.95%.

Insiders Place Their Bets

In other Pacific Gas & Electric news, Director Kerry Whorton Cooper sold 2,500 shares of the stock in a transaction dated Tuesday, March 17th. The stock was sold at an average price of $18.68, for a total value of $46,700.00. Following the completion of the sale, the director directly owned 73,141 shares in the company, valued at $1,366,273.88. This represents a 3.31% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP John R. Simon sold 45,607 shares of the stock in a transaction dated Thursday, February 19th. The stock was sold at an average price of $18.00, for a total value of $820,926.00. Following the completion of the sale, the executive vice president owned 392,303 shares of the company’s stock, valued at $7,061,454. This trade represents a 10.41% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold 84,286 shares of company stock worth $1,528,746 over the last ninety days. 0.15% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Pacific Gas & Electric

Several large investors have recently modified their holdings of the business. Pinnacle Wealth Management Advisory Group LLC increased its holdings in shares of Pacific Gas & Electric by 7.9% in the first quarter. Pinnacle Wealth Management Advisory Group LLC now owns 46,059 shares of the utilities provider’s stock worth $809,000 after acquiring an additional 3,363 shares in the last quarter. Fifth Third Wealth Advisors LLC grew its holdings in shares of Pacific Gas & Electric by 5.7% during the first quarter. Fifth Third Wealth Advisors LLC now owns 16,368 shares of the utilities provider’s stock worth $288,000 after buying an additional 885 shares in the last quarter. Miller Howard Investments Inc. NY grew its holdings in shares of Pacific Gas & Electric by 11.9% during the first quarter. Miller Howard Investments Inc. NY now owns 91,296 shares of the utilities provider’s stock worth $1,604,000 after buying an additional 9,721 shares in the last quarter. SG Americas Securities LLC grew its holdings in shares of Pacific Gas & Electric by 366.6% during the first quarter. SG Americas Securities LLC now owns 2,984,809 shares of the utilities provider’s stock worth $52,443,000 after buying an additional 2,345,120 shares in the last quarter. Finally, BI Asset Management Fondsmaeglerselskab A S grew its holdings in shares of Pacific Gas & Electric by 30.1% during the first quarter. BI Asset Management Fondsmaeglerselskab A S now owns 283,946 shares of the utilities provider’s stock worth $4,989,000 after buying an additional 65,738 shares in the last quarter. 78.56% of the stock is currently 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.