Pacific Gas & Electric (NYSE:PCG) Given New $23.00 Price Target at JPMorgan Chase & Co.

Pacific Gas & Electric (NYSE:PCG) had its price target cut by stock analysts at JPMorgan Chase & Co. from $24.00 to $23.00 in a research note issued to investors on Friday,Benzinga reports. The brokerage currently has an “overweight” rating on the utilities provider’s stock. JPMorgan Chase & Co.‘s price target suggests a potential upside of 40.18% from the company’s previous close.

PCG has been the topic of several other research reports. Wall Street Zen lowered Pacific Gas & Electric from a “buy” rating to a “hold” rating in a report on Sunday, May 3rd. Jefferies Financial Group reiterated a “hold” rating and issued a $19.00 price target (down from $20.00) on shares of Pacific Gas & Electric in a report on Monday, March 23rd. Barclays increased their price objective on Pacific Gas & Electric from $21.00 to $23.00 and gave the stock an “overweight” rating in a research note on Wednesday, February 18th. Truist Financial assumed coverage on Pacific Gas & Electric in a research report on Monday, April 20th. They set a “buy” rating and a $23.00 price target for the company. Finally, Wells Fargo & Company reissued an “overweight” rating and set a $25.00 price objective on shares of Pacific Gas & Electric in a report on Tuesday, April 21st. One investment analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating, four have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $22.30.

Pacific Gas & Electric Stock Down 2.4%

NYSE:PCG traded down $0.40 on Friday, hitting $16.41. The stock had a trading volume of 3,850,286 shares, compared to its average volume of 22,140,402. The business’s fifty day moving average is $17.42 and its 200 day moving average is $16.63. The company has a market cap of $43.97 billion, a PE ratio of 12.73, a P/E/G ratio of 0.63 and a beta of 0.29. The company has a quick ratio of 1.13, a current ratio of 1.20 and a debt-to-equity ratio of 1.88. Pacific Gas & Electric has a 52 week low of $12.97 and a 52 week high of $19.16.

Pacific Gas & Electric (NYSE:PCG) last announced its quarterly earnings results on Thursday, April 23rd. The utilities provider reported $0.43 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.39 by $0.04. The business had revenue of $6.88 billion for the quarter, compared to analyst estimates of $6.20 billion. Pacific Gas & Electric had a return on equity of 11.95% and a net margin of 11.44%.The company’s quarterly revenue was up 15.0% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.33 earnings per share. Pacific Gas & Electric has set its FY 2026 guidance at 1.640-1.660 EPS. On average, equities research analysts expect that Pacific Gas & Electric will post 1.65 EPS for the current fiscal year.

Insiders Place Their Bets

In related news, EVP Jason M. Glickman sold 47,264 shares of Pacific Gas & Electric stock in a transaction on Tuesday, April 28th. The stock was sold at an average price of $16.35, for a total transaction of $772,766.40. Following the completion of the sale, the executive vice president owned 136,433 shares of the company’s stock, valued at approximately $2,230,679.55. This trade represents a 25.73% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP John R. Simon sold 45,607 shares of the firm’s stock in a transaction dated Thursday, February 19th. The shares were sold at an average price of $18.00, for a total value of $820,926.00. Following the sale, the executive vice president owned 392,303 shares in the company, valued at $7,061,454. The trade was a 10.41% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 131,550 shares of company stock worth $2,301,512 over the last three months. Corporate insiders own 0.22% of the company’s stock.

Institutional Investors Weigh In On Pacific Gas & Electric

A number of large investors have recently added to or reduced their stakes in the company. Geode Capital Management LLC raised its position in Pacific Gas & Electric by 1.9% during the fourth quarter. Geode Capital Management LLC now owns 62,134,132 shares of the utilities provider’s stock valued at $1,019,297,000 after purchasing an additional 1,132,249 shares in the last quarter. SG Americas Securities LLC increased its holdings in shares of Pacific Gas & Electric by 366.6% in 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 during the period. Pinebridge Investments LLC purchased a new position in shares of Pacific Gas & Electric in the fourth quarter worth about $28,967,000. Mediolanum International Funds Ltd increased its holdings in shares of Pacific Gas & Electric by 49.9% in the third quarter. Mediolanum International Funds Ltd now owns 947,127 shares of the utilities provider’s stock worth $14,264,000 after buying an additional 315,133 shares during the period. Finally, Public Employees Retirement System of Ohio increased its holdings in shares of Pacific Gas & Electric by 0.6% in the third quarter. Public Employees Retirement System of Ohio now owns 684,942 shares of the utilities provider’s stock worth $10,329,000 after buying an additional 4,248 shares during the period. Hedge funds and other institutional investors own 78.56% of the company’s stock.

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.