Todays Report: The Pacific Gas & Electric Co. (PCG) Given “Hold” Rating at Citigroup Inc.

The Pacific Gas & Electric Co. (PCG) Given “Hold” Rating at Citigroup Inc.

Citigroup Inc. reiterated their hold rating on shares of Pacific Gas & Electric Co. (NYSE:PCG) in a research note released on Tuesday. They currently have a $60.00 price objective on the stock.

PCG has been the subject of several other reports. Zacks Investment Research downgraded Pacific Gas & Electric Co. from a buy rating to a hold rating in a report on Monday, August 1st. JPMorgan Chase & Co. reissued a buy rating on shares of Pacific Gas & Electric Co. in a report on Wednesday, July 6th. Deutsche Bank AG decreased their price objective on Pacific Gas & Electric Co. from $68.00 to $67.00 and set a buy rating for the company in a report on Friday, July 29th. Jefferies Group increased their price objective on Pacific Gas & Electric Co. from $66.50 to $71.50 and gave the company a buy rating in a report on Friday, July 29th. Finally, Royal Bank Of Canada raised Pacific Gas & Electric Co. from a sector perform rating to an outperform rating and increased their price objective for the company from $60.00 to $71.00 in a report on Friday, July 15th. Two equities research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company’s stock. Pacific Gas & Electric Co. presently has an average rating of Buy and a consensus price target of $65.75.

Shares of Pacific Gas & Electric Co. (NYSE:PCG) opened at 58.82 on Tuesday. The company has a market capitalization of $29.32 billion, a PE ratio of 38.72 and a beta of 0.22. The company has a 50 day moving average price of $62.58 and a 200 day moving average price of $61.50. Pacific Gas & Electric Co. has a 52 week low of $50.65 and a 52 week high of $65.43.

Pacific Gas & Electric Co. (NYSE:PCG) last posted its quarterly earnings data on Thursday, July 28th. The company reported $0.66 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.92 by $0.26. The firm earned $4.17 billion during the quarter, compared to analyst estimates of $4.59 billion. Pacific Gas & Electric Co. had a net margin of 4.51% and a return on equity of 8.27%. Pacific Gas & Electric Co.’s revenue was down 1.1% compared to the same quarter last year. During the same period in the previous year, the company posted $0.91 earnings per share. On average, equities research analysts expect that Pacific Gas & Electric Co. will post $3.72 earnings per share for the current year.

The company also recently declared a quarterly dividend, which will be paid on Saturday, October 15th. Stockholders of record on Friday, September 30th will be given a $0.49 dividend. This represents a $1.96 dividend on an annualized basis and a dividend yield of 3.33%. The ex-dividend date of this dividend is Wednesday, September 28th. Pacific Gas & Electric Co.’s dividend payout ratio is currently 128.11%.

Several hedge funds and other institutional investors have recently made changes to their positions in PCG. Bessemer Group Inc. boosted its position in shares of Pacific Gas & Electric Co. by 40.6% in the first quarter. Bessemer Group Inc. now owns 3,445 shares of the company’s stock worth $206,000 after buying an additional 995 shares in the last quarter. Canandaigua National Bank & Trust Co. purchased a new position in shares of Pacific Gas & Electric Co. during the first quarter worth $224,000. Laurel Wealth Advisors Inc. boosted its position in shares of Pacific Gas & Electric Co. by 1.3% in the second quarter. Laurel Wealth Advisors Inc. now owns 3,547 shares of the company’s stock worth $227,000 after buying an additional 45 shares in the last quarter. Williams Jones & Associates LLC purchased a new position in shares of Pacific Gas & Electric Co. during the second quarter worth $278,000. Finally, Advisor Partners LLC boosted its position in shares of Pacific Gas & Electric Co. by 24.2% in the first quarter. Advisor Partners LLC now owns 5,580 shares of the company’s stock worth $333,000 after buying an additional 1,087 shares in the last quarter. Institutional investors and hedge funds own 79.33% of the company’s stock.

Pacific Gas & Electric Co. Company Profile

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