Morgan Stanley Cuts Pacific Gas & Electric (NYSE:PCG) Price Target to $22.00

Pacific Gas & Electric (NYSE:PCG) had its price target cut by Morgan Stanley from $23.00 to $22.00 in a research note issued to investors on Friday morning,Benzinga reports. They currently have an equal weight rating on the utilities provider’s stock.

A number of other equities research analysts also recently issued reports on PCG. Wall Street Zen downgraded shares of Pacific Gas & Electric from a “buy” rating to a “hold” rating in a research report on Saturday, July 25th. Truist Financial lowered their price target on Pacific Gas & Electric from $23.00 to $21.00 and set a “buy” rating on the stock in a report on Tuesday, August 4th. UBS Group reaffirmed a “buy” rating on shares of Pacific Gas & Electric in a research note on Tuesday, August 18th. BMO Capital Markets reduced their price objective on Pacific Gas & Electric from $28.00 to $27.00 and set an “outperform” rating for the company in a report on Friday, July 24th. Finally, Weiss Ratings downgraded Pacific Gas & Electric from a “hold (c+)” rating to a “hold (c)” rating in a research report on Thursday, June 4th. Seven research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $22.20.

Pacific Gas & Electric Stock Performance

Shares of PCG opened at $17.60 on Friday. The company has a 50-day simple moving average of $17.28 and a 200-day simple moving average of $17.28. 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 company has a market capitalization of $47.17 billion, a PE ratio of 12.75, a P/E/G ratio of 1.14 and a beta of 0.28. Pacific Gas & Electric has a 52-week low of $14.34 and a 52-week 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 net margin of 12.25% and a return on equity of 12.48%. The firm had revenue of $5.90 billion during the quarter, compared to analysts’ expectations of $6.20 billion. During the same quarter last year, the business earned $0.31 earnings per share. The business’s revenue for the quarter was up .1% compared to the same quarter last year. Pacific Gas & Electric has set its FY 2026 guidance at 1.640-1.660 EPS. Equities research analysts predict that Pacific Gas & Electric will post 1.65 earnings per share for the current fiscal year.

Insider Transactions at Pacific Gas & Electric

In other Pacific Gas & Electric news, EVP Marlene Santos sold 158,250 shares of the company’s stock in a transaction dated Wednesday, July 22nd. The shares were sold at an average price of $18.00, for a total value of $2,848,500.00. Following the sale, the executive vice president owned 230,885 shares of the company’s stock, valued at $4,155,930. This represents a 40.67% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders own 0.22% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of PCG. Keating Financial Advisory Services Inc. purchased a new stake in Pacific Gas & Electric in the 2nd quarter valued at approximately $28,000. Tobam acquired a new stake in Pacific Gas & Electric during the 4th quarter valued at $30,000. Torren Management LLC purchased a new position in Pacific Gas & Electric during the fourth quarter worth $33,000. Modus Advisors LLC purchased a new position in Pacific Gas & Electric during the fourth quarter worth $36,000. Finally, Transamerica Financial Advisors LLC purchased a new position in Pacific Gas & Electric during the second quarter worth $57,000. 78.56% of the stock is owned by hedge funds and other 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.