PG&E (NYSE:PCG) Hits New 12-Month High Following Analyst Upgrade

Shares of PG&E Co. (NYSE:PCG) reached a new 52-week high during mid-day trading on Monday after Barclays raised their price target on the stock from $24.00 to $25.00. Barclays currently has an overweight rating on the stock. PG&E traded as high as $20.65 and last traded at $20.64, with a volume of 705765 shares. The stock had previously closed at $20.38.

PCG has been the topic of several other reports. Jefferies Financial Group began coverage on shares of PG&E in a research note on Monday, October 14th. They issued a “buy” rating and a $24.00 price target on the stock. Bank of America initiated coverage on shares of PG&E in a research note on Thursday, September 12th. They issued a “buy” rating and a $24.00 target price for the company. Wells Fargo & Company boosted their price target on PG&E from $21.00 to $22.00 and gave the stock an “overweight” rating in a research report on Friday, July 26th. Morgan Stanley boosted their target price on PG&E from $19.00 to $20.00 and gave the stock an “equal weight” rating in a report on Wednesday, September 25th. Finally, UBS Group lifted their price objective on shares of PG&E from $24.00 to $26.00 and gave the stock a “buy” rating in a research report on Tuesday, September 3rd. Three investment analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. Based on data from MarketBeat.com, PG&E currently has a consensus rating of “Moderate Buy” and a consensus price target of $22.18.

Insider Activity

In other news, VP Stephanie N. Williams sold 38,601 shares of the business’s stock in a transaction dated 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 directly owns 19,114 shares of the company’s stock, valued at $350,168.48. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Company insiders own 0.15% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of the business. Allspring Global Investments Holdings LLC lifted its holdings in shares of PG&E by 63.9% in the third quarter. Allspring Global Investments Holdings LLC now owns 2,036,987 shares of the utilities provider’s stock worth $40,271,000 after buying an additional 793,967 shares in the last quarter. Raymond James & Associates grew its holdings in shares of PG&E by 4.2% during the third quarter. Raymond James & Associates now owns 977,197 shares of the utilities provider’s stock worth $19,319,000 after purchasing an additional 39,004 shares in the last quarter. Blue Trust Inc. increased its holdings in shares of PG&E by 77.7% in the 3rd quarter. Blue Trust Inc. now owns 4,195 shares of the utilities provider’s stock worth $83,000 after buying an additional 1,834 shares during the last quarter. Net Worth Advisory Group purchased a new stake in shares of PG&E during the 3rd quarter valued at $528,000. Finally, Stonegate Investment Group LLC purchased a new position in PG&E in the third quarter worth $262,000. Hedge funds and other institutional investors own 78.56% of the company’s stock.

PG&E Stock Down 0.1 %

The firm has a market cap of $58.59 billion, a PE ratio of 18.17, a P/E/G ratio of 1.55 and a beta of 1.01. The stock has a 50-day simple moving average of $19.59 and a two-hundred day simple moving average of $18.40. The company has a quick ratio of 0.86, a current ratio of 0.90 and a debt-to-equity ratio of 1.99.

PG&E (NYSE:PCG) last announced its quarterly earnings results on Thursday, July 25th. The utilities provider reported $0.31 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.30 by $0.01. PG&E had a return on equity of 11.76% and a net margin of 10.22%. The company had revenue of $5.99 billion for the quarter, compared to the consensus estimate of $5.86 billion. During the same quarter in the previous year, the business earned $0.23 EPS. PG&E’s revenue was up 13.2% compared to the same quarter last year. Analysts expect that PG&E Co. will post 1.36 earnings per share for the current year.

PG&E Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, October 15th. Stockholders 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 dividend yield of 0.20%. PG&E’s payout ratio is 3.57%.

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.