PG&E (NYSE:PCG) Price Target Raised to $23.00

PG&E (NYSE:PCG) had its target price boosted by BMO Capital Markets from $21.00 to $23.00 in a research report sent to investors on Tuesday morning,Benzinga reports. The brokerage currently has an outperform rating on the utilities provider’s stock.

Several other brokerages also recently issued reports on PCG. Mizuho raised their price target on PG&E from $24.00 to $26.00 and gave the company an “outperform” rating in a research report on Wednesday, November 27th. Guggenheim cut shares of PG&E from a “buy” rating to a “neutral” rating in a research note on Tuesday. UBS Group reduced their target price on shares of PG&E from $24.00 to $22.00 and set a “buy” rating for the company in a research note on Thursday, January 30th. JPMorgan Chase & Co. reiterated an “overweight” rating and issued a $22.00 target price on shares of PG&E in a research note on Wednesday, February 12th. Finally, Barclays reduced their target price on shares of PG&E from $24.00 to $23.00 and set an “overweight” rating for the company in a research note on Monday, January 27th. One investment analyst has rated the stock with a sell rating, one has given a hold rating and ten have given a buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $22.23.

PG&E Trading Up 0.3 %

PG&E stock opened at $15.71 on Tuesday. The company has a debt-to-equity ratio of 1.86, a current ratio of 1.05 and a quick ratio of 1.00. The company has a market capitalization of $41.95 billion, a price-to-earnings ratio of 13.66, a PEG ratio of 1.07 and a beta of 0.99. PG&E has a one year low of $14.99 and a one year high of $21.72. The company’s fifty day moving average price is $17.57 and its two-hundred day moving average price is $19.12.

PG&E (NYSE:PCG) last issued its quarterly earnings results on Thursday, February 13th. The utilities provider reported $0.31 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.31. The company had revenue of $6.63 billion for the quarter, compared to the consensus estimate of $7.29 billion. PG&E had a return on equity of 10.94% and a net margin of 10.27%. During the same period last year, the business posted $0.47 earnings per share. On average, analysts forecast that PG&E will post 1.49 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, CEO Patricia K. Poppe sold 55,555 shares of PG&E stock in a transaction that occurred on Monday, December 2nd. The shares were sold at an average price of $20.66, for a total value of $1,147,766.30. Following the completion of the transaction, the chief executive officer now owns 1,460,222 shares in the company, valued at approximately $30,168,186.52. The trade was a 3.67 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Corporate insiders own 0.15% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors have recently modified their holdings of PCG. Norges Bank bought a new position in shares of PG&E in the fourth quarter valued at approximately $591,625,000. Capital Research Global Investors raised its stake in shares of PG&E by 70.3% in the fourth quarter. Capital Research Global Investors now owns 46,805,768 shares of the utilities provider’s stock valued at $944,540,000 after acquiring an additional 19,317,171 shares during the last quarter. FMR LLC raised its stake in shares of PG&E by 5.1% in the third quarter. FMR LLC now owns 176,839,426 shares of the utilities provider’s stock valued at $3,496,115,000 after acquiring an additional 8,604,396 shares during the last quarter. Vanguard Group Inc. raised its stake in shares of PG&E by 2.5% in the fourth quarter. Vanguard Group Inc. now owns 254,358,968 shares of the utilities provider’s stock valued at $5,132,964,000 after acquiring an additional 6,151,233 shares during the last quarter. Finally, Zimmer Partners LP raised its stake in shares of PG&E by 84.9% in the fourth quarter. Zimmer Partners LP now owns 12,661,324 shares of the utilities provider’s stock valued at $255,506,000 after acquiring an additional 5,814,624 shares during the last quarter. Institutional investors own 78.56% of the company’s stock.

PG&E Company Profile

PG&E Corp. operates as a holding company, which engages in generation, transmission, and distribution of electricity and natural gas to customers. It specializes in energy, utility, power, gas, electricity, solar and sustainability. The company was founded in 1995 and is headquartered in Oakland, CA.