PG&E Co. (NYSE:PCG) Receives $22.80 Average Target Price from Brokerages

Shares of PG&E Co. (NYSE:PCG) have been assigned a consensus rating of “Moderate Buy” from the ten ratings firms that are covering the stock, Marketbeat Ratings reports. One research analyst has rated the stock with a hold recommendation and nine have given a buy recommendation to the company. The average 12-month price target among brokerages that have issued a report on the stock in the last year is $22.80.

Several equities research analysts have weighed in on the stock. Morgan Stanley raised their target price on shares of PG&E from $19.00 to $20.00 and gave the company an “equal weight” rating in a research note on Wednesday, September 25th. UBS Group boosted their target price on PG&E from $24.00 to $26.00 and gave the stock a “buy” rating in a research note on Tuesday, September 3rd. Jefferies Financial Group started coverage on PG&E in a research note on Monday, October 14th. They issued a “buy” rating and a $24.00 price target for the company. Bank of America initiated coverage on shares of PG&E in a report on Thursday, September 12th. They set a “buy” rating and a $24.00 price objective on the stock. Finally, Barclays lifted their target price on shares of PG&E from $24.00 to $25.00 and gave the stock an “overweight” rating in a research note on Monday, October 21st.

Institutional Trading of PG&E

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Rothschild Investment LLC acquired a new position in PG&E in the 2nd quarter worth about $30,000. UMB Bank n.a. grew its stake in PG&E by 84.7% in the 2nd quarter. UMB Bank n.a. now owns 2,204 shares of the utilities provider’s stock valued at $38,000 after acquiring an additional 1,011 shares during the period. Blue Trust Inc. increased its holdings in PG&E by 77.0% in the 2nd quarter. Blue Trust Inc. now owns 2,361 shares of the utilities provider’s stock worth $40,000 after acquiring an additional 1,027 shares in the last quarter. Plato Investment Management Ltd acquired a new position in PG&E during the second quarter worth $44,000. Finally, Massmutual Trust Co. FSB ADV lifted its holdings in PG&E by 48.8% during the second quarter. Massmutual Trust Co. FSB ADV now owns 3,596 shares of the utilities provider’s stock valued at $63,000 after purchasing an additional 1,179 shares in the last quarter. 78.56% of the stock is owned by institutional investors and hedge funds.

PG&E Trading Up 0.0 %

Shares of NYSE:PCG opened at $21.05 on Friday. The company has a market capitalization of $55.05 billion, a PE ratio of 16.42, a P/E/G ratio of 1.62 and a beta of 1.03. The company has a current ratio of 1.04, a quick ratio of 0.99 and a debt-to-equity ratio of 2.02. PG&E has a 12-month low of $15.94 and a 12-month high of $21.51. The business’s fifty day simple moving average is $20.12 and its 200-day simple moving average is $18.90.

PG&E (NYSE:PCG) last announced its earnings results on Thursday, November 7th. The utilities provider reported $0.37 EPS for the quarter, topping analysts’ consensus estimates of $0.32 by $0.05. PG&E had a net margin of 11.11% and a return on equity of 12.51%. The business had revenue of $5.94 billion during the quarter, compared to the consensus estimate of $6.58 billion. During the same period in the previous year, the company posted $0.24 earnings per share. The firm’s revenue was up .9% on a year-over-year basis. As a group, equities research analysts predict that PG&E will post 1.36 earnings per share for the current fiscal year.

PG&E Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, October 15th. Shareholders of record on Monday, September 30th were paid a dividend of $0.01 per share. The ex-dividend date was Monday, September 30th. This represents a $0.04 dividend on an annualized basis and a dividend yield of 0.19%. PG&E’s payout ratio is currently 3.13%.

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 customers in northern and central California, the United States. It generates electricity using nuclear, hydroelectric, fossil fuel-fired, fuel cell, and photovoltaic sources.