Analysts’ Weekly Ratings Updates for PG&E (PCG)

A number of research firms have changed their ratings and price targets for PG&E (NYSE: PCG):

• 6/17/2024 – PG&E had its price target lowered by analysts at Barclays PLC from $22.00 to $21.00. They now have an “overweight” rating on the stock.
• 6/14/2024 – PG&E had its price target raised by analysts at Citigroup Inc. from $19.00 to $21.00. They now have a “buy” rating on the stock.
• 6/10/2024 – PG&E was upgraded by analysts at JPMorgan Chase & Co. from a “neutral” rating to an “overweight” rating. They now have a $22.00 price target on the stock, up previously from $19.00.
• 6/5/2024 – PG&E had its price target raised by analysts at Barclays PLC from $21.00 to $22.00. They now have an “overweight” rating on the stock.
• 5/28/2024 – PG&E had its price target raised by analysts at Morgan Stanley from $16.00 to $18.00. They now have an “equal weight” rating on the stock.
• 5/17/2024 – PG&E had its price target raised by analysts at Mizuho from $21.00 to $23.00. They now have a “buy” rating on the stock.
• 4/26/2024 – PG&E had its price target raised by analysts at Barclays PLC from $20.00 to $21.00. They now have an “overweight” rating on the stock.
• 4/23/2024 – PG&E had its price target raised by analysts at JPMorgan Chase & Co. from $18.00 to $19.00. They now have a “neutral” rating on the stock.

PG&E Stock Performance

Shares of PCG remained flat at $17.78 during trading hours on Tuesday. The stock had a trading volume of 19,292,359 shares, compared to its average volume of 14,656,352. The company has a market capitalization of $51.19 billion, a PE ratio of 15.88 and a beta of 1.19. The company has a debt-to-equity ratio of 2.08, a quick ratio of 0.93 and a current ratio of 0.99. The firm’s 50 day simple moving average is $17.72 and its 200 day simple moving average is $17.24. PG&E Co. has a 12-month low of $14.71 and a 12-month high of $18.95.

PG&E (NYSE:PCG) last issued its quarterly earnings results on Thursday, April 25th. The utilities provider reported $0.37 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.35 by $0.02. The firm had revenue of $5.86 billion during the quarter, compared to the consensus estimate of $6.60 billion. PG&E had a return on equity of 11.32% and a net margin of 10.05%. The company’s revenue for the quarter was down 5.6% on a year-over-year basis. During the same quarter last year, the company posted $0.29 EPS. As a group, analysts expect that PG&E Co. will post 1.35 earnings per share for the current fiscal year.

PG&E Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, July 15th. Investors of record on Friday, June 28th will be given a $0.01 dividend. The ex-dividend date is Friday, June 28th. This represents a $0.04 dividend on an annualized basis and a yield of 0.22%. PG&E’s payout ratio is 3.57%.

Insider Buying and Selling

In other PG&E news, CEO Patricia K. Poppe sold 59,000 shares of PG&E stock in a transaction that occurred on Tuesday, April 30th. The stock was sold at an average price of $17.08, for a total value of $1,007,720.00. Following the transaction, the chief executive officer now directly owns 1,515,777 shares of the company’s stock, valued at approximately $25,889,471.16. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 0.15% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On PG&E

Several hedge funds have recently made changes to their positions in the business. PNC Financial Services Group Inc. boosted its position in shares of PG&E by 3.6% during the third quarter. PNC Financial Services Group Inc. now owns 58,983 shares of the utilities provider’s stock valued at $951,000 after purchasing an additional 2,063 shares in the last quarter. DekaBank Deutsche Girozentrale boosted its holdings in PG&E by 30.1% in the third quarter. DekaBank Deutsche Girozentrale now owns 252,262 shares of the utilities provider’s stock worth $4,073,000 after acquiring an additional 58,409 shares in the last quarter. Kestra Advisory Services LLC lifted its holdings in shares of PG&E by 37.3% during the third quarter. Kestra Advisory Services LLC now owns 28,562 shares of the utilities provider’s stock valued at $461,000 after purchasing an additional 7,756 shares in the last quarter. Rafferty Asset Management LLC lifted its holdings in shares of PG&E by 44.3% during the third quarter. Rafferty Asset Management LLC now owns 213,115 shares of the utilities provider’s stock valued at $3,438,000 after purchasing an additional 65,412 shares in the last quarter. Finally, Korea Investment CORP lifted its holdings in shares of PG&E by 0.6% during the third quarter. Korea Investment CORP now owns 561,854 shares of the utilities provider’s stock valued at $9,063,000 after purchasing an additional 3,298 shares in the last quarter. 78.56% of the stock is owned by hedge funds and other institutional investors.

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.