PG&E (NYSE:PCG) Price Target Raised to $22.00

PG&E (NYSE:PCG) had its price target lifted by Barclays from $21.00 to $22.00 in a research note released on Monday morning, Benzinga reports. They currently have an overweight rating on the utilities provider’s stock.

Several other equities analysts have also recently weighed in on PCG. Mizuho boosted their price objective on PG&E from $21.00 to $23.00 and gave the stock a buy rating in a research report on Friday, May 17th. The Goldman Sachs Group assumed coverage on PG&E in a research report on Wednesday, April 10th. They set a buy rating and a $21.00 price objective for the company. Morgan Stanley lowered their price target on PG&E from $18.00 to $17.00 and set an equal weight rating on the stock in a research note on Monday, June 24th. JPMorgan Chase & Co. upgraded PG&E from a neutral rating to an overweight rating and boosted their price target for the company from $19.00 to $22.00 in a research note on Monday, June 10th. Finally, Citigroup boosted their price target on PG&E from $19.00 to $21.00 and gave the company a buy rating in a research note on Friday, June 14th. Three analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of Moderate Buy and a consensus price target of $20.22.

PG&E Price Performance

Shares of NYSE:PCG opened at $18.25 on Monday. PG&E has a fifty-two week low of $14.71 and a fifty-two week high of $18.95. The business has a 50-day moving average of $17.98 and a two-hundred day moving average of $17.24. The stock has a market capitalization of $52.55 billion, a P/E ratio of 16.29 and a beta of 1.08. The company has a debt-to-equity ratio of 2.08, a current ratio of 0.99 and a quick ratio of 0.93.

PG&E (NYSE:PCG) last announced its quarterly earnings results on Thursday, April 25th. The utilities provider reported $0.37 earnings per share for the quarter, topping analysts’ consensus estimates of $0.35 by $0.02. PG&E had a return on equity of 11.32% and a net margin of 10.05%. The company had revenue of $5.86 billion during the quarter, compared to analysts’ expectations of $6.60 billion. During the same quarter in the previous year, the firm earned $0.29 earnings per share. The business’s quarterly revenue was down 5.6% compared to the same quarter last year. On average, equities research analysts predict that PG&E will post 1.35 EPS for the current fiscal year.

PG&E Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, July 15th. Stockholders of record on Friday, June 28th were paid a $0.01 dividend. The ex-dividend date was Friday, June 28th. This represents a $0.04 annualized dividend and a dividend yield of 0.22%. PG&E’s dividend payout ratio is currently 3.57%.

Insider Buying and Selling

In related news, CEO Patricia K. Poppe sold 59,000 shares of the stock in a transaction that occurred on Tuesday, April 30th. The stock was sold at an average price of $17.08, for a total transaction of $1,007,720.00. Following the sale, the chief executive officer now directly owns 1,515,777 shares in the company, valued at approximately $25,889,471.16. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. 0.15% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the company. Planned Solutions Inc. acquired a new position in PG&E during the 4th quarter worth $37,000. Blue Trust Inc. lifted its holdings in PG&E by 77.0% during the 2nd quarter. Blue Trust Inc. now owns 2,361 shares of the utilities provider’s stock worth $40,000 after buying an additional 1,027 shares in the last quarter. Vima LLC acquired a new position in PG&E during the 4th quarter worth $41,000. CVA Family Office LLC acquired a new position in PG&E during the 4th quarter worth $43,000. Finally, Pacific Capital Wealth Advisors Inc. acquired a new position in shares of PG&E in the 4th quarter valued at $47,000. Institutional investors and hedge funds own 78.56% of the company’s stock.

PG&E Company Profile

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.