PG&E (NYSE:PCG) Now Covered by Analysts at Jefferies Financial Group

Jefferies Financial Group started coverage on shares of PG&E (NYSE:PCG) in a report published on Monday morning, MarketBeat reports. The firm issued a buy rating and a $24.00 target price on the utilities provider’s stock.

A number of other research firms have also commented on PCG. Bank of America started coverage on shares of PG&E in a research report on Thursday, September 12th. They issued a “buy” rating and a $24.00 price target on the stock. UBS Group increased their price target on PG&E from $24.00 to $26.00 and gave the stock a “buy” rating in a research report on Tuesday, September 3rd. Barclays lifted their price objective on PG&E from $22.00 to $23.00 and gave the company an “overweight” rating in a research report on Tuesday, July 30th. Wells Fargo & Company increased their target price on PG&E from $21.00 to $22.00 and gave the stock an “overweight” rating in a report on Friday, July 26th. Finally, Morgan Stanley raised their target price on PG&E from $19.00 to $20.00 and gave the company an “equal weight” rating in a research note on Wednesday, September 25th. Three analysts have rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $22.00.

PG&E Trading Up 0.5 %

PCG stock opened at $20.52 on Monday. The company has a current ratio of 0.90, a quick ratio of 0.86 and a debt-to-equity ratio of 1.99. The firm has a market cap of $59.08 billion, a P/E ratio of 18.32, a P/E/G ratio of 1.50 and a beta of 1.01. PG&E has a 1-year low of $15.59 and a 1-year high of $20.65. The business’s 50 day moving average is $19.46 and its 200-day moving average is $18.31.

PG&E (NYSE:PCG) last released its quarterly earnings data on Thursday, July 25th. The utilities provider reported $0.31 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.30 by $0.01. PG&E had a return on equity of 11.76% and a net margin of 10.22%. The firm had revenue of $5.99 billion during the quarter, compared to analyst estimates of $5.86 billion. During the same period in the prior year, the company posted $0.23 earnings per share. The business’s revenue for the quarter was up 13.2% compared to the same quarter last year. Equities analysts anticipate that PG&E will post 1.36 earnings per share for the current fiscal year.

PG&E Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, October 15th. Shareholders of record on Monday, September 30th were issued a dividend of $0.01 per share. The ex-dividend date of this dividend was Monday, September 30th. This represents a $0.04 annualized dividend and a yield of 0.19%. PG&E’s dividend payout ratio is currently 3.57%.

Insider Buying and Selling at PG&E

In other news, VP Stephanie N. Williams sold 38,601 shares of PG&E stock in a transaction that occurred on Thursday, August 15th. The shares were sold at an average price of $18.32, for a total transaction of $707,170.32. Following the completion of the sale, the vice president now owns 19,114 shares in the company, valued at $350,168.48. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Corporate insiders own 0.15% of the company’s stock.

Hedge Funds Weigh In On PG&E

Hedge funds and other institutional investors have recently bought and sold shares of the business. Jupiter Asset Management Ltd. acquired a new position in shares of PG&E in the 1st quarter valued at $2,153,000. Mitsubishi UFJ Asset Management Co. Ltd. increased its holdings in PG&E by 19.8% in the first quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 2,486,117 shares of the utilities provider’s stock valued at $41,667,000 after purchasing an additional 410,409 shares during the last quarter. Bayesian Capital Management LP acquired a new position in PG&E in the first quarter valued at about $2,377,000. Scientech Research LLC bought a new position in PG&E during the second quarter worth about $1,122,000. Finally, Allspring Global Investments Holdings LLC grew its position in shares of PG&E by 808.5% during the 2nd quarter. Allspring Global Investments Holdings LLC now owns 1,243,020 shares of the utilities provider’s stock worth $21,703,000 after buying an additional 1,106,200 shares during the period. 78.56% of the stock is owned by institutional investors.

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.