Equities Analysts Issue Forecasts for Pacific Gas & Electric Co.’s FY2017 Earnings (NYSE:PCG)

Pacific Gas & Electric Co. (NYSE:PCG) – Jefferies Group boosted their FY2017 EPS estimates for shares of Pacific Gas & Electric Co. in a note issued to investors on Wednesday. Jefferies Group analyst A. Crowdell now expects that the utilities provider will post earnings of $3.71 per share for the year, up from their prior forecast of $3.70. Jefferies Group has a “Buy” rating and a $75.00 price target on the stock. Jefferies Group also issued estimates for Pacific Gas & Electric Co.’s FY2018 earnings at $3.77 EPS, FY2019 earnings at $3.96 EPS and FY2020 earnings at $4.17 EPS.

Other research analysts have also issued research reports about the stock. Mizuho reiterated a “buy” rating and issued a $74.00 price target on shares of Pacific Gas & Electric Co. in a research note on Wednesday, April 19th. Deutsche Bank AG upped their price target on shares of Pacific Gas & Electric Co. from $67.00 to $69.00 and gave the company a “buy” rating in a research note on Tuesday, April 11th. Zacks Investment Research upgraded shares of Pacific Gas & Electric Co. from a “hold” rating to a “buy” rating and set a $76.00 price target on the stock in a research note on Wednesday, April 26th. Goldman Sachs Group, Inc. (The) reiterated a “buy” rating on shares of Pacific Gas & Electric Co. in a research note on Tuesday, June 27th. Finally, Royal Bank Of Canada set a $70.00 price target on shares of Pacific Gas & Electric Co. and gave the company a “buy” rating in a research note on Saturday, June 3rd. Four analysts have rated the stock with a hold rating and eight have given a buy rating to the company. The stock has an average rating of “Buy” and a consensus target price of $71.00.

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Pacific Gas & Electric Co. (NYSE:PCG) opened at 65.44 on Thursday. The stock has a market cap of $33.44 billion, a P/E ratio of 17.75 and a beta of 0.21. Pacific Gas & Electric Co. has a 52-week low of $57.60 and a 52-week high of $70.32. The firm’s 50-day moving average price is $67.54 and its 200 day moving average price is $65.07.

Pacific Gas & Electric Co. (NYSE:PCG) last issued its quarterly earnings data on Tuesday, May 2nd. The utilities provider reported $1.06 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.83 by $0.23. The firm had revenue of $4.27 billion during the quarter, compared to analysts’ expectations of $4.15 billion. Pacific Gas & Electric Co. had a return on equity of 11.33% and a net margin of 10.42%. During the same period in the previous year, the firm posted $0.82 earnings per share.

Institutional investors have recently modified their holdings of the stock. Eastern Bank acquired a new position in shares of Pacific Gas & Electric Co. during the first quarter valued at about $481,000. Jacobs & Co. CA boosted its position in shares of Pacific Gas & Electric Co. by 44.7% in the first quarter. Jacobs & Co. CA now owns 5,555 shares of the utilities provider’s stock valued at $368,000 after buying an additional 1,717 shares during the period. Regentatlantic Capital LLC boosted its position in shares of Pacific Gas & Electric Co. by 31.2% in the first quarter. Regentatlantic Capital LLC now owns 7,008 shares of the utilities provider’s stock valued at $465,000 after buying an additional 1,665 shares during the period. E&G Advisors LP boosted its position in shares of Pacific Gas & Electric Co. by 58.5% in the first quarter. E&G Advisors LP now owns 10,300 shares of the utilities provider’s stock valued at $684,000 after buying an additional 3,800 shares during the period. Finally, National Pension Service boosted its position in shares of Pacific Gas & Electric Co. by 5.2% in the first quarter. National Pension Service now owns 382,799 shares of the utilities provider’s stock valued at $25,403,000 after buying an additional 18,884 shares during the period. 81.70% of the stock is owned by institutional investors and hedge funds.

In other news, COO Nickolas Stavropoulos sold 11,085 shares of the company’s stock in a transaction that occurred on Friday, May 26th. The shares were sold at an average price of $67.37, for a total transaction of $746,796.45. Following the completion of the sale, the chief operating officer now owns 68,268 shares of the company’s stock, valued at approximately $4,599,215.16. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Corporate insiders own 0.15% of the company’s stock.

The company also recently declared a quarterly dividend, which will be paid on Saturday, July 15th. Stockholders of record on Friday, June 30th will be issued a dividend of $0.53 per share. This represents a $2.12 dividend on an annualized basis and a dividend yield of 3.24%. The ex-dividend date of this dividend is Wednesday, June 28th. This is an increase from Pacific Gas & Electric Co.’s previous quarterly dividend of $0.49. Pacific Gas & Electric Co.’s dividend payout ratio is 57.77%.

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), 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.

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