Pacific Gas & Electric Co.’s (PCG) Buy Rating Reiterated at Jefferies Group LLC

Jefferies Group LLC reiterated their buy rating on shares of Pacific Gas & Electric Co. (NYSE:PCG) in a research report released on Sunday, July 30th. Jefferies Group LLC currently has a $76.00 price target on the utilities provider’s stock.

A number of other equities analysts also recently issued reports on the company. BidaskClub raised Pacific Gas & Electric Co. from a sell rating to a hold rating in a research report on Tuesday, July 25th. BMO Capital Markets reissued a hold rating and issued a $69.00 target price on shares of Pacific Gas & Electric Co. in a research report on Thursday, July 13th. Mizuho reissued a buy rating and issued a $74.00 target price on shares of Pacific Gas & Electric Co. in a research report on Thursday, July 13th. Goldman Sachs Group, Inc. (The) reissued a buy rating on shares of Pacific Gas & Electric Co. in a research report on Tuesday, June 27th. Finally, Royal Bank Of Canada set a $70.00 target price on Pacific Gas & Electric Co. and gave the company a buy rating in a research report on Saturday, June 3rd. Six analysts have rated the stock with a hold rating and six have given a buy rating to the stock. Pacific Gas & Electric Co. currently has a consensus rating of Buy and a consensus target price of $69.60.

Pacific Gas & Electric Co. (NYSE PCG) traded up 0.23% on Friday, reaching $69.14. The company had a trading volume of 2,069,248 shares. Pacific Gas & Electric Co. has a 52 week low of $57.60 and a 52 week high of $70.32. The company has a market capitalization of $35.46 billion, a P/E ratio of 17.05 and a beta of 0.21. The stock’s 50-day moving average is $67.53 and its 200-day moving average is $66.69.

Pacific Gas & Electric Co. (NYSE:PCG) last posted its earnings results on Thursday, July 27th. The utilities provider reported $0.86 earnings per share for the quarter, topping analysts’ consensus estimates of $0.79 by $0.07. The company had revenue of $4.25 billion during the quarter, compared to analyst estimates of $4.34 billion. Pacific Gas & Electric Co. had a return on equity of 11.63% and a net margin of 11.48%. Pacific Gas & Electric Co.’s revenue was up 1.9% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.66 earnings per share. Equities research analysts forecast that Pacific Gas & Electric Co. will post $3.67 EPS for the current fiscal year.

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In other news, COO Nickolas Stavropoulos sold 11,085 shares of the stock in a transaction dated Friday, May 26th. The shares were sold at an average price of $67.37, for a total transaction of $746,796.45. Following the sale, the chief operating officer now directly owns 68,268 shares of the company’s stock, valued at approximately $4,599,215.16. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, SVP Julie Kane sold 2,233 shares of the stock in a transaction dated Monday, August 14th. The stock was sold at an average price of $68.98, for a total transaction of $154,032.34. Following the sale, the senior vice president now directly owns 10,751 shares in the company, valued at $741,603.98. The disclosure for this sale can be found here. Corporate insiders own 0.15% of the company’s stock.

Several large investors have recently bought and sold shares of PCG. Duff & Phelps Investment Management Co. raised its stake in Pacific Gas & Electric Co. by 118.4% in the first quarter. Duff & Phelps Investment Management Co. now owns 1,742,085 shares of the utilities provider’s stock valued at $115,605,000 after buying an additional 944,405 shares during the last quarter. DnB Asset Management AS raised its position in shares of Pacific Gas & Electric Co. by 21.2% in the first quarter. DnB Asset Management AS now owns 67,982 shares of the utilities provider’s stock worth $4,511,000 after buying an additional 11,900 shares in the last quarter. Fox Run Management L.L.C. bought a new position in shares of Pacific Gas & Electric Co. during the first quarter worth $504,000. Eastern Bank bought a new position in shares of Pacific Gas & Electric Co. during the first quarter worth $481,000. Finally, Jacobs & Co. CA raised its position in shares of Pacific Gas & Electric Co. by 44.7% in the first quarter. Jacobs & Co. CA now owns 5,555 shares of the utilities provider’s stock worth $368,000 after buying an additional 1,717 shares in the last quarter. 81.57% of the stock is currently owned by institutional investors and hedge funds.

About Pacific Gas & Electric Co.

PG&E Corporation is a holding company. The Company’s primary operating subsidiary is Pacific Gas and Electric Company (the Utility), which operates in northern and central California. The Utility is engaged in the sale and delivery of electricity and natural gas to customers. The Utility generates electricity and provides electricity transmission and distribution services throughout its service territory in northern and central California to residential, commercial, industrial, and agricultural customers.

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