PG&E (NYSE:PCG) Stock Price Expected to Rise, Mizuho Analyst Says

PG&E (NYSE:PCG) had its price target increased by equities researchers at Mizuho from $24.00 to $26.00 in a research note issued to investors on Wednesday,Benzinga reports. The brokerage currently has an “outperform” rating on the utilities provider’s stock. Mizuho’s target price indicates a potential upside of 20.20% from the company’s current price.

Other equities research analysts have also recently issued research reports about the company. Jefferies Financial Group began coverage on PG&E in a research note on Monday, October 14th. They set a “buy” rating and a $24.00 target price for the company. Bank of America began coverage on shares of PG&E in a research report on Thursday, September 12th. They set a “buy” rating and a $24.00 price objective for the company. UBS Group upped their target price on shares of PG&E from $24.00 to $26.00 and gave the company a “buy” rating in a report on Tuesday, September 3rd. Barclays lifted their price target 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. Finally, Morgan Stanley upped their price objective 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. Two research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $23.10.

PG&E Stock Performance

Shares of PG&E stock opened at $21.63 on Wednesday. The business has a 50-day simple moving average of $20.41 and a 200-day simple moving average of $19.10. The company has a debt-to-equity ratio of 2.02, a quick ratio of 0.99 and a current ratio of 1.04. PG&E has a one year low of $15.94 and a one year high of $21.72. The company has a market cap of $56.57 billion, a PE ratio of 16.90, a P/E/G ratio of 1.63 and a beta of 1.03.

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

Hedge Funds Weigh In On PG&E

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Rothschild Investment LLC acquired a new stake in shares of PG&E during the second quarter worth $30,000. UMB Bank n.a. lifted its stake in shares of PG&E by 84.7% in the 2nd quarter. UMB Bank n.a. now owns 2,204 shares of the utilities provider’s stock worth $38,000 after acquiring an additional 1,011 shares during the period. Blue Trust Inc. boosted its holdings in shares of PG&E by 77.0% in the second quarter. Blue Trust Inc. now owns 2,361 shares of the utilities provider’s stock valued at $40,000 after acquiring an additional 1,027 shares in the last quarter. Plato Investment Management Ltd acquired a new position in shares of PG&E during the second quarter worth about $44,000. Finally, Massmutual Trust Co. FSB ADV increased its stake in shares of 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 worth $63,000 after acquiring an additional 1,179 shares during the period. Hedge funds and other institutional investors own 78.56% 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 customers in northern and central California, the United States. It generates electricity using nuclear, hydroelectric, fossil fuel-fired, fuel cell, and photovoltaic sources.