Barclays Raises PG&E (NYSE:PCG) Price Target to $21.00

PG&E (NYSE:PCG) had its price objective lifted by stock analysts at Barclays from $20.00 to $21.00 in a research note issued on Friday, Benzinga reports. The brokerage currently has an “overweight” rating on the utilities provider’s stock. Barclays‘s price objective would indicate a potential upside of 23.31% from the company’s previous close.

A number of other brokerages have also recently issued reports on PCG. StockNews.com raised PG&E from a “sell” rating to a “hold” rating in a research report on Thursday, February 1st. JPMorgan Chase & Co. upped their target price on PG&E from $18.00 to $19.00 and gave the company a “neutral” rating in a research report on Tuesday, April 23rd. Finally, The Goldman Sachs Group began coverage on PG&E in a research report on Wednesday, April 10th. They issued a “buy” rating and a $21.00 target price for the company. Four research analysts have rated the stock with a hold rating and four have given a buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $19.11.

PG&E Trading Down 0.2 %

NYSE:PCG opened at $17.03 on Friday. The stock has a 50-day simple moving average of $16.58 and a 200-day simple moving average of $16.90. The stock has a market cap of $36.39 billion, a P/E ratio of 15.21 and a beta of 1.32. PG&E has a 1 year low of $14.71 and a 1 year high of $18.32. The company has a debt-to-equity ratio of 2.04, a quick ratio of 0.78 and a current ratio of 0.83.

PG&E (NYSE:PCG) last released its quarterly earnings data on Thursday, April 25th. The utilities provider reported $0.37 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.35 by $0.02. The business had revenue of $5.86 billion during the quarter, compared to analysts’ expectations of $6.60 billion. PG&E had a return on equity of 11.48% and a net margin of 10.05%. The business’s quarterly revenue was down 5.6% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.29 EPS. As a group, analysts anticipate that PG&E will post 1.35 earnings per share for the current fiscal year.

Institutional Trading of PG&E

A number of hedge funds have recently added to or reduced their stakes in PCG. Norges Bank acquired a new stake in PG&E during the 4th quarter worth approximately $394,285,000. Vanguard Group Inc. raised its stake in shares of PG&E by 8.8% during the 3rd quarter. Vanguard Group Inc. now owns 268,407,694 shares of the utilities provider’s stock worth $4,329,416,000 after buying an additional 21,731,911 shares in the last quarter. Massachusetts Financial Services Co. MA raised its stake in shares of PG&E by 27.8% during the 3rd quarter. Massachusetts Financial Services Co. MA now owns 83,522,320 shares of the utilities provider’s stock worth $1,347,215,000 after buying an additional 18,180,432 shares in the last quarter. Balyasny Asset Management L.P. purchased a new position in shares of PG&E during the 4th quarter worth approximately $142,612,000. Finally, Capital International Investors raised its stake in shares of PG&E by 7.1% during the 4th quarter. Capital International Investors now owns 116,093,791 shares of the utilities provider’s stock worth $2,093,198,000 after buying an additional 7,681,566 shares in the last quarter. 78.56% of the stock is owned by institutional investors and hedge funds.

About PG&E

PG&E Corporation, through its subsidiary, Pacific Gas and Electric Company, engages in the sale and delivery of electricity and natural gas to customers in northern and central California, the United States. It generates electricity using nuclear, hydroelectric, fossil fuel-fired, fuel cell, and photovoltaic sources.