Royal Bank Of Canada Reaffirms Buy Rating for Pacific Gas & Electric Co. (PCG)

Royal Bank Of Canada restated their buy rating on shares of Pacific Gas & Electric Co. (NYSE:PCG) in a research note published on Monday morning. Royal Bank Of Canada currently has a $70.00 price target on the utilities provider’s stock.

A number of other brokerages have also issued reports on PCG. ValuEngine upgraded shares of Pacific Gas & Electric Co. from a hold rating to a buy rating in a research note on Friday, September 1st. BidaskClub upgraded shares of Pacific Gas & Electric Co. from a hold rating to a buy rating in a research note on Tuesday, August 22nd. Goldman Sachs Group, Inc. (The) reaffirmed a buy rating on shares of Pacific Gas & Electric Co. in a research report on Tuesday, June 27th. Jefferies Group LLC reaffirmed a buy rating and set a $76.00 price objective on shares of Pacific Gas & Electric Co. in a research report on Sunday, July 30th. Finally, BMO Capital Markets reaffirmed a hold rating and set a $69.00 price objective on shares of Pacific Gas & Electric Co. in a research report on Thursday, July 13th. Five equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. The company has an average rating of Buy and an average target price of $69.60.

Pacific Gas & Electric Co. (NYSE PCG) opened at 69.05 on Monday. The firm’s 50 day moving average price is $69.61 and its 200 day moving average price is $67.68. The stock has a market cap of $35.41 billion, a price-to-earnings ratio of 17.02 and a beta of 0.22. Pacific Gas & Electric Co. has a one year low of $57.60 and a one year high of $71.57.

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

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The company also recently announced a quarterly dividend, which will be paid on Sunday, October 15th. Shareholders of record on Friday, September 29th will be given a $0.53 dividend. This represents a $2.12 annualized dividend and a yield of 3.07%. Pacific Gas & Electric Co.’s dividend payout ratio (DPR) is 52.35%.

In other news, VP David S. Thomason sold 700 shares of the stock in a transaction that occurred on Wednesday, August 23rd. The shares were sold at an average price of $69.62, for a total value of $48,734.00. Following the completion of the transaction, the vice president now directly owns 7,357 shares in the company, valued at $512,194.34. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP John R. Simon sold 881 shares of the stock in a transaction that occurred on Tuesday, August 22nd. The shares were sold at an average price of $69.43, for a total transaction of $61,167.83. The disclosure for this sale can be found here. Insiders sold 4,915 shares of company stock valued at $340,377 over the last quarter. Insiders own 0.15% of the company’s stock.

Several institutional investors have recently bought and sold shares of the company. Guardian Life Insurance Co. of America boosted its holdings in shares of Pacific Gas & Electric Co. by 1.1% in the first quarter. Guardian Life Insurance Co. of America now owns 1,958 shares of the utilities provider’s stock valued at $130,000 after acquiring an additional 21 shares in the last quarter. Transamerica Financial Advisors Inc. boosted its holdings in shares of Pacific Gas & Electric Co. by 0.4% in the first quarter. Transamerica Financial Advisors Inc. now owns 9,448 shares of the utilities provider’s stock valued at $627,000 after acquiring an additional 36 shares in the last quarter. Mackenzie Financial Corp boosted its holdings in shares of Pacific Gas & Electric Co. by 1.1% in the first quarter. Mackenzie Financial Corp now owns 3,803 shares of the utilities provider’s stock valued at $252,000 after acquiring an additional 43 shares in the last quarter. Stratos Wealth Partners LTD. boosted its holdings in shares of Pacific Gas & Electric Co. by 1.2% in the first quarter. Stratos Wealth Partners LTD. now owns 4,800 shares of the utilities provider’s stock valued at $319,000 after acquiring an additional 59 shares in the last quarter. Finally, Cleararc Capital Inc. boosted its holdings in shares of Pacific Gas & Electric Co. by 0.7% in the first quarter. Cleararc Capital Inc. now owns 12,386 shares of the utilities provider’s stock valued at $822,000 after acquiring an additional 84 shares in the last quarter. Institutional investors and hedge funds own 80.91% of the company’s stock.

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.

Analyst Recommendations for Pacific Gas & Electric Co. (NYSE:PCG)

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