Pacific Gas & Electric (PCG) Rating Lowered to Neutral at Mizuho

Mizuho lowered shares of Pacific Gas & Electric (NYSE:PCG) from a buy rating to a neutral rating in a research report sent to investors on Friday, Marketbeat Ratings reports. They currently have $55.00 price target on the utilities provider’s stock, up from their prior price target of $54.24.

Other equities research analysts have also issued reports about the company. Royal Bank Of Canada reaffirmed a buy rating and set a $70.00 target price on shares of Pacific Gas & Electric in a research report on Tuesday, August 15th. Bank of America began coverage on Pacific Gas & Electric in a research report on Tuesday, October 24th. They set a neutral rating and a $59.00 target price on the stock. Evercore ISI cut their target price on Pacific Gas & Electric from $66.00 to $61.00 in a research report on Monday, October 16th. Barclays boosted their target price on Pacific Gas & Electric from $69.00 to $72.00 and gave the stock an overweight rating in a research report on Friday, September 22nd. Finally, ValuEngine raised Pacific Gas & Electric from a hold rating to a buy rating in a research report on Friday, September 1st. Six research analysts have rated the stock with a hold rating and ten have issued a buy rating to the company’s stock. The stock has a consensus rating of Buy and an average price target of $66.00.

Shares of Pacific Gas & Electric (PCG) opened at $53.52 on Friday. The stock has a market capitalization of $27,580.00, a price-to-earnings ratio of 12.39, a PEG ratio of 3.43 and a beta of 0.14. The company has a current ratio of 0.85, a quick ratio of 0.79 and a debt-to-equity ratio of 0.86. Pacific Gas & Electric has a 52-week low of $49.83 and a 52-week high of $71.57.

Pacific Gas & Electric (NYSE:PCG) last announced its earnings results on Thursday, November 2nd. The utilities provider reported $1.12 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.94 by $0.18. The company had revenue of $4.52 billion for the quarter, compared to analyst estimates of $4.82 billion. Pacific Gas & Electric had a return on equity of 11.94% and a net margin of 12.59%. Pacific Gas & Electric’s revenue for the quarter was down 6.1% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.94 earnings per share. research analysts anticipate that Pacific Gas & Electric will post 3.69 EPS for the current fiscal year.

In other Pacific Gas & Electric news, VP David S. Thomason sold 700 shares of the business’s stock in a transaction dated Wednesday, November 15th. The stock was sold at an average price of $56.82, for a total value of $39,774.00. Following the transaction, the vice president now owns 6,657 shares in the company, valued at $378,250.74. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 0.15% of the company’s stock.

A number of hedge funds and other institutional investors have recently modified their holdings of the business. Blair William & Co. IL grew its stake in Pacific Gas & Electric by 7.4% in the second quarter. Blair William & Co. IL now owns 4,315 shares of the utilities provider’s stock valued at $286,000 after purchasing an additional 298 shares in the last quarter. IFP Advisors Inc grew its stake in Pacific Gas & Electric by 6.4% in the second quarter. IFP Advisors Inc now owns 8,662 shares of the utilities provider’s stock valued at $575,000 after purchasing an additional 519 shares in the last quarter. Piedmont Investment Advisors LLC grew its stake in Pacific Gas & Electric by 0.9% in the third quarter. Piedmont Investment Advisors LLC now owns 110,358 shares of the utilities provider’s stock valued at $7,514,000 after purchasing an additional 1,022 shares in the last quarter. Parallel Advisors LLC grew its stake in Pacific Gas & Electric by 15.5% in the second quarter. Parallel Advisors LLC now owns 8,573 shares of the utilities provider’s stock valued at $580,000 after purchasing an additional 1,150 shares in the last quarter. Finally, Calamos Advisors LLC grew its stake in Pacific Gas & Electric by 2.7% in the second quarter. Calamos Advisors LLC now owns 64,545 shares of the utilities provider’s stock valued at $4,284,000 after purchasing an additional 1,673 shares in the last quarter. Hedge funds and other institutional investors own 81.14% of the company’s stock.

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About Pacific Gas & Electric

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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