According to Zacks, “Cost of compliance to new and stringent regulations remains a major concern for PG&E Corporation. Moreover, penalties worth $1.6 billion levied for the 2010 San Bruno case and changes in environmental mandates could impact the company’s financial performance. Further, the operation and decommissioning of the utility’s nuclear power plants expose it to potentially significant liabilities. On a brighter note, PG&E Corporation’s systematic investments in infrastructure projects, backed by a stable financial position, will allow it to improve service reliability and meet increasing customer demand. The company’s stable financial position allows it to pay regular dividends, which in turn, help it to retain investor interest.”
Several other brokerages also recently issued reports on PCG. Mizuho upped their target price on shares of Pacific Gas & Electric Co. from $64.00 to $67.00 and gave the stock a buy rating in a research note on Wednesday, June 29th. Argus reiterated a buy rating and issued a $79.00 target price (up previously from $74.00) on shares of Pacific Gas & Electric Co. in a research note on Monday, July 25th. Jefferies Group dropped their target price on shares of Pacific Gas & Electric Co. from $71.50 to $70.00 and set a buy rating on the stock in a research note on Monday, August 29th. Citigroup Inc. reissued a hold rating and set a $64.00 price objective (up from $54.00) on shares of Pacific Gas & Electric Co. in a report on Wednesday, July 20th. Finally, Royal Bank Of Canada raised shares of Pacific Gas & Electric Co. from a sector perform rating to an outperform rating and boosted their price objective for the company from $60.00 to $71.00 in a report on Friday, July 15th. One analyst has rated the stock with a sell rating, one has issued a hold rating and twelve have given a buy rating to the company. The company currently has an average rating of Buy and an average price target of $66.58.
Pacific Gas & Electric Co. (NYSE:PCG) opened at 60.93 on Thursday. Pacific Gas & Electric Co. has a 12-month low of $50.65 and a 12-month high of $65.43. The company has a 50-day moving average of $61.43 and a 200 day moving average of $61.53. The company has a market capitalization of $30.37 billion, a P/E ratio of 40.11 and a beta of 0.22.
Pacific Gas & Electric Co. (NYSE:PCG) last issued its earnings results on Thursday, July 28th. The company reported $0.66 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.92 by $0.26. The firm earned $4.17 billion during the quarter, compared to the consensus estimate of $4.59 billion. Pacific Gas & Electric Co. had a return on equity of 8.27% and a net margin of 4.51%. The company’s quarterly revenue was down 1.1% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.91 EPS. Equities research analysts forecast that Pacific Gas & Electric Co. will post $3.72 earnings per share for the current fiscal year.
The business also recently announced a quarterly dividend, which was paid on Saturday, October 15th. Shareholders of record on Friday, September 30th were given a $0.49 dividend. The ex-dividend date of this dividend was Wednesday, September 28th. This represents a $1.96 dividend on an annualized basis and a yield of 3.22%. Pacific Gas & Electric Co.’s payout ratio is currently 128.11%.
Hedge funds and other institutional investors have recently bought and sold shares of the stock. Eagle Asset Management Inc. boosted its position in Pacific Gas & Electric Co. by 3.7% in the third quarter. Eagle Asset Management Inc. now owns 830,855 shares of the company’s stock worth $50,823,000 after buying an additional 29,952 shares during the last quarter. Williams Jones & Associates LLC bought a new position in Pacific Gas & Electric Co. during the second quarter worth approximately $278,000. Personal Capital Advisors Corp boosted its position in Pacific Gas & Electric Co. by 39.4% in the second quarter. Personal Capital Advisors Corp now owns 48,548 shares of the company’s stock worth $3,103,000 after buying an additional 13,713 shares during the last quarter. Paloma Partners Management Co boosted its position in Pacific Gas & Electric Co. by 818.0% in the second quarter. Paloma Partners Management Co now owns 89,739 shares of the company’s stock worth $5,737,000 after buying an additional 79,963 shares during the last quarter. Finally, Janus Capital Management LLC boosted its position in Pacific Gas & Electric Co. by 25.2% in the second quarter. Janus Capital Management LLC now owns 1,575,089 shares of the company’s stock worth $100,679,000 after buying an additional 317,017 shares during the last quarter. 79.31% of the stock is currently owned by institutional investors.
Pacific Gas & Electric Co. Company Profile
PG&E Corporation is a holding company. The Company’s primary operating subsidiary is Pacific Gas and Electric Company (the Utility). The Utility’s operations include 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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