Pacific Gas & Electric (NYSE:PCG) Share Price Crosses Above Two Hundred Day Moving Average – What’s Next?

by · The Cerbat Gem

Pacific Gas & Electric Co. (NYSE:PCG – Get Free Report)’s stock price passed above its 200-day moving average during trading on Monday . The stock has a 200-day moving average of $15.15 and traded as high as $16.07. Pacific Gas & Electric shares last traded at $15.9910, with a volume of 9,676,391 shares trading hands.

Wall Street Analysts Forecast Growth

PCG has been the topic of several recent research reports. BMO Capital Markets boosted their price target on Pacific Gas & Electric from $23.00 to $25.00 and gave the company an “outperform” rating in a research report on Tuesday, October 14th. Wall Street Zen lowered Pacific Gas & Electric from a “buy” rating to a “hold” rating in a report on Sunday, November 9th. Barclays upped their price target on Pacific Gas & Electric from $20.00 to $21.00 and gave the stock an “overweight” rating in a research note on Wednesday, October 1st. Cowen reiterated a “buy” rating on shares of Pacific Gas & Electric in a research report on Thursday, December 4th. Finally, JPMorgan Chase & Co. cut their price objective on shares of Pacific Gas & Electric from $22.00 to $21.00 and set an “overweight” rating for the company in a research report on Friday, December 12th. Two analysts have rated the stock with a Strong Buy rating, seven have issued a Buy rating and six have assigned a Hold rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $20.55.

Read Our Latest Stock Report on PCG

Pacific Gas & Electric Stock Performance

The stock has a 50 day moving average of $15.88 and a two-hundred day moving average of $15.17. The stock has a market capitalization of $35.36 billion, a PE ratio of 13.52, a P/E/G ratio of 0.67 and a beta of 0.37. The company has a debt-to-equity ratio of 1.81, a current ratio of 0.94 and a quick ratio of 0.89.

Pacific Gas & Electric (NYSE:PCG – Get Free Report) last released its earnings results on Monday, May 15th. The utilities provider reported $0.30 EPS for the quarter. Pacific Gas & Electric had a return on equity of 11.10% and a net margin of 10.93%.The company had revenue of $5.80 billion during the quarter. Research analysts expect that Pacific Gas & Electric Co. will post 1.49 EPS for the current fiscal year.

Pacific Gas & Electric Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, January 15th. Shareholders of record on Wednesday, December 31st will be given a dividend of $0.05 per share. The ex-dividend date is Wednesday, December 31st. This is an increase from Pacific Gas & Electric’s previous quarterly dividend of $0.03. This represents a $0.20 annualized dividend and a yield of 1.2%. Pacific Gas & Electric’s dividend payout ratio (DPR) is currently 8.40%.

Insider Transactions at Pacific Gas & Electric

In related news, Director John O. Larsen purchased 7,500 shares of Pacific Gas & Electric stock in a transaction dated Tuesday, November 4th. The stock was bought at an average cost of $15.96 per share, for a total transaction of $119,700.00. Following the transaction, the director owned 18,111 shares in the company, valued at approximately $289,051.56. The trade was a 70.68% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Company insiders own 0.14% of the company’s stock.

Hedge Funds Weigh In On Pacific Gas & Electric

Several hedge funds and other institutional investors have recently bought and sold shares of the company. Titleist Asset Management LLC boosted its position in Pacific Gas & Electric by 2.1% during the third quarter. Titleist Asset Management LLC now owns 43,832 shares of the utilities provider’s stock worth $661,000 after purchasing an additional 882 shares in the last quarter. FreeGulliver LLC boosted its position in shares of Pacific Gas & Electric by 7.9% in the 3rd quarter. FreeGulliver LLC now owns 13,482 shares of the utilities provider’s stock worth $203,000 after buying an additional 987 shares in the last quarter. Commerzbank Aktiengesellschaft FI grew its stake in Pacific Gas & Electric by 3.3% in the 2nd quarter. Commerzbank Aktiengesellschaft FI now owns 34,867 shares of the utilities provider’s stock valued at $487,000 after acquiring an additional 1,099 shares during the last quarter. Fifth Third Wealth Advisors LLC increased its holdings in Pacific Gas & Electric by 8.1% during the 3rd quarter. Fifth Third Wealth Advisors LLC now owns 17,195 shares of the utilities provider’s stock valued at $259,000 after acquiring an additional 1,283 shares in the last quarter. Finally, Meiji Yasuda Asset Management Co Ltd. raised its position in Pacific Gas & Electric by 3.5% during the first quarter. Meiji Yasuda Asset Management Co Ltd. now owns 38,672 shares of the utilities provider’s stock worth $664,000 after acquiring an additional 1,322 shares during the last quarter. 78.56% of the stock is owned by institutional investors and hedge funds.

Pacific Gas & Electric Company Profile

(Get Free Report)

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.

Recommended Stories