Pacific Gas & Electric Co. (NYSE:PCG) to Post FY2017 Earnings of $3.71 Per Share, Jefferies Group Forecasts

Pacific Gas & Electric Co. (NYSE:PCG) – Research analysts at Jefferies Group raised their FY2017 earnings per share (EPS) estimates for shares of Pacific Gas & Electric Co. in a research report issued on Wednesday. Jefferies Group analyst A. Crowdell now forecasts that the utilities provider will post earnings of $3.71 per share for the year, up from their previous forecast of $3.70. Jefferies Group currently has a “Buy” rating and a $75.00 target price 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.

Several other equities research analysts have also recently commented on PCG. Deutsche Bank AG raised their target price on Pacific Gas & Electric Co. from $67.00 to $69.00 and gave the stock a “buy” rating in a research note on Tuesday, April 11th. Mizuho reaffirmed a “buy” rating and set a $74.00 target price on shares of Pacific Gas & Electric Co. in a research note on Wednesday, April 19th. Citigroup Inc. raised their target price on Pacific Gas & Electric Co. from $62.00 to $66.00 and gave the stock a “neutral” rating in a research note on Tuesday, April 25th. Zacks Investment Research raised Pacific Gas & Electric Co. from a “hold” rating to a “buy” rating and set a $76.00 target price for the company in a research note on Wednesday, April 26th. Finally, BMO Capital Markets reaffirmed a “hold” rating and set a $69.00 target price on shares of Pacific Gas & Electric Co. in a research note on Wednesday, May 3rd. Four analysts have rated the stock with a hold rating and seven have given a buy rating to the company. The stock has an average rating of “Buy” and an average price target of $71.00.

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Pacific Gas & Electric Co. (NYSE:PCG) opened at 65.32 on Thursday. The company has a market cap of $33.38 billion, a PE ratio of 17.72 and a beta of 0.21. Pacific Gas & Electric Co. has a 12-month low of $57.60 and a 12-month high of $70.32. The stock’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 released its quarterly earnings data on Tuesday, May 2nd. The utilities provider reported $1.06 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.83 by $0.23. Pacific Gas & Electric Co. had a return on equity of 11.33% and a net margin of 10.42%. The business had revenue of $4.27 billion for the quarter, compared to analysts’ expectations of $4.15 billion. During the same quarter in the previous year, the business posted $0.82 EPS.

The company also recently declared a quarterly dividend, which will be paid on Saturday, July 15th. Shareholders of record on Friday, June 30th will be issued a $0.53 dividend. The ex-dividend date of this dividend is Wednesday, June 28th. This represents a $2.12 annualized dividend and a yield of 3.25%. This is a positive change from Pacific Gas & Electric Co.’s previous quarterly dividend of $0.49. Pacific Gas & Electric Co.’s dividend payout ratio is presently 57.77%.

In other Pacific Gas & Electric Co. news, COO Nickolas Stavropoulos sold 11,085 shares of the stock in a transaction that occurred on Friday, May 26th. The stock was sold at an average price of $67.37, for a total value of $746,796.45. Following the transaction, the chief operating officer now owns 68,268 shares in the company, valued at $4,599,215.16. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. 0.15% of the stock is currently owned by corporate insiders.

Hedge funds and other institutional investors have recently made changes to their positions in the company. Eastern Bank purchased a new position in shares of Pacific Gas & Electric Co. during the first quarter valued at about $481,000. Jacobs & Co. CA raised 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 last quarter. Regentatlantic Capital LLC raised 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 last quarter. E&G Advisors LP raised 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 last quarter. Finally, National Pension Service raised 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 last quarter. Institutional investors and hedge funds own 81.70% of the company’s stock.

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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