UBS Group Increases PG&E (NYSE:PCG) Price Target to $47.00

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PG&E (NYSE:PCG) had its price target raised by UBS Group from $45.00 to $47.00 in a report issued on Tuesday, May 29th, www.benzinga.com reports. The brokerage currently has a neutral rating on the utilities provider’s stock.

Several other equities analysts also recently issued reports on the stock. ValuEngine downgraded shares of PG&E from a sell rating to a strong sell rating in a research note on Wednesday, May 2nd. Zacks Investment Research lowered shares of PG&E from a buy rating to a hold rating in a research report on Tuesday, April 24th. Citigroup set a $46.00 price target on shares of PG&E and gave the stock a hold rating in a research report on Tuesday, April 24th. Morgan Stanley upped their price target on shares of PG&E from $59.00 to $63.00 and gave the stock an overweight rating in a research report on Monday, April 16th. Finally, JPMorgan Chase & Co. upped their price target on shares of PG&E from $50.00 to $51.00 and gave the stock a buy rating in a research report on Tuesday, April 10th. Two investment analysts have rated the stock with a sell rating, eleven have given a hold rating and six have issued a buy rating to the stock. PG&E has a consensus rating of Hold and an average target price of $55.73.

Shares of PG&E traded up $2.28, hitting $42.81, on Tuesday, according to MarketBeat.com. The company’s stock had a trading volume of 736,569 shares, compared to its average volume of 5,269,967. PG&E has a 12-month low of $37.30 and a 12-month high of $71.57. The company has a market capitalization of $20.66 billion, a PE ratio of 11.51, a price-to-earnings-growth ratio of 2.56 and a beta of -0.03. The company has a debt-to-equity ratio of 0.87, a current ratio of 0.85 and a quick ratio of 0.78.

PG&E (NYSE:PCG) last announced its quarterly earnings results on Thursday, May 3rd. The utilities provider reported $0.91 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.04 by ($0.13). The business had revenue of $4.06 billion during the quarter, compared to analysts’ expectations of $4.23 billion. PG&E had a net margin of 9.02% and a return on equity of 9.38%. During the same period last year, the company earned $1.06 EPS. analysts forecast that PG&E will post 3.79 EPS for the current fiscal year.

Several hedge funds have recently made changes to their positions in the company. Dynamic Technology Lab Private Ltd boosted its stake in shares of PG&E by 422.2% in the first quarter. Dynamic Technology Lab Private Ltd now owns 40,211 shares of the utilities provider’s stock valued at $1,766,000 after purchasing an additional 32,511 shares during the period. Suntrust Banks Inc. boosted its stake in shares of PG&E by 11.5% in the first quarter. Suntrust Banks Inc. now owns 21,343 shares of the utilities provider’s stock valued at $936,000 after purchasing an additional 2,195 shares during the period. Howard Capital Management Inc. purchased a new position in shares of PG&E in the first quarter valued at $9,220,000. Principal Financial Group Inc. boosted its stake in shares of PG&E by 1.1% in the first quarter. Principal Financial Group Inc. now owns 743,966 shares of the utilities provider’s stock valued at $32,683,000 after purchasing an additional 7,873 shares during the period. Finally, Summit Trail Advisors LLC boosted its stake in shares of PG&E by 5,047.8% in the first quarter. Summit Trail Advisors LLC now owns 107,588 shares of the utilities provider’s stock valued at $108,000 after purchasing an additional 105,498 shares during the period. Institutional investors and hedge funds own 80.76% of the company’s stock.

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 residential, commercial, industrial, and agricultural customers in northern and central California, the United States. The company's electricity distribution network consists of approximately 107,200 circuit miles of distribution lines, 59 transmission switching substations, and 605 distribution substations; and electricity transmission network comprises approximately 19,200 circuit miles of interconnected transmission lines and 92 electric transmission substations.

Analyst Recommendations for PG&E (NYSE:PCG)

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