PG&E (NYSE:PCG) Price Target Increased to $25.00 by Analysts at Barclays

PG&E (NYSE:PCG) had its target price increased by equities research analysts at Barclays from $24.00 to $25.00 in a note issued to investors on Monday, Benzinga reports. The brokerage currently has an “overweight” rating on the utilities provider’s stock. Barclays‘s price objective indicates a potential upside of 21.54% from the stock’s previous close.

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

PG&E Trading Up 1.1 %

PCG stock opened at $20.57 on Monday. The business’s 50-day moving average is $19.64 and its 200 day moving average is $18.42. PG&E has a 12-month low of $15.59 and a 12-month high of $20.67. The stock has a market cap of $53.79 billion, a price-to-earnings ratio of 17.58, a PEG ratio of 1.56 and a beta of 1.01. The company has a current ratio of 0.90, a quick ratio of 0.86 and a debt-to-equity ratio of 1.99.

PG&E (NYSE:PCG) last issued its quarterly earnings results on Thursday, July 25th. The utilities provider reported $0.31 EPS for the quarter, topping the consensus estimate of $0.30 by $0.01. The firm had revenue of $5.99 billion during the quarter, compared to analysts’ expectations of $5.86 billion. PG&E had a return on equity of 11.76% and a net margin of 10.22%. The firm’s revenue for the quarter was up 13.2% on a year-over-year basis. During the same period in the previous year, the business earned $0.23 earnings per share. On average, sell-side analysts anticipate that PG&E will post 1.36 EPS for the current fiscal year.

Insider Buying and Selling

In other PG&E news, VP Stephanie N. Williams sold 38,601 shares of PG&E stock in a transaction dated Thursday, August 15th. The stock was sold at an average price of $18.32, for a total value of $707,170.32. Following the completion of the transaction, 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 position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. 0.15% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On PG&E

A number of hedge funds have recently bought and sold shares of the stock. Jupiter Asset Management Ltd. acquired a new position in shares of PG&E during the first quarter worth about $2,153,000. Mitsubishi UFJ Asset Management Co. Ltd. lifted its stake in PG&E by 19.8% in the first quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 2,486,117 shares of the utilities provider’s stock worth $41,667,000 after acquiring an additional 410,409 shares during the last quarter. Bayesian Capital Management LP purchased a new position in PG&E in the first quarter worth approximately $2,377,000. Scientech Research LLC acquired a new position in PG&E during the 2nd quarter worth approximately $1,122,000. Finally, Allspring Global Investments Holdings LLC increased its position in shares of PG&E by 808.5% in the 2nd quarter. Allspring Global Investments Holdings LLC now owns 1,243,020 shares of the utilities provider’s stock valued at $21,703,000 after purchasing an additional 1,106,200 shares during the last quarter. Institutional investors and hedge funds own 78.56% of the company’s stock.

PG&E Company Profile

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.