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

Shares of PG&E Co. (NYSE:PCG) have earned a consensus recommendation of “Moderate Buy” from the ten ratings firms that are currently covering the firm, Marketbeat Ratings reports. One analyst has rated the stock with a hold rating and nine have issued a buy rating on the company. The average twelve-month target price among brokers that have updated their coverage on the stock in the last year is $22.80.

Several equities research analysts have weighed in on PCG shares. UBS Group lowered their price objective on shares of PG&E from $26.00 to $24.00 and set a “buy” rating for the company in a research report on Thursday, December 19th. Morgan Stanley boosted their price objective on shares of PG&E from $19.00 to $20.00 and gave the company an “equal weight” rating in a report on Wednesday, September 25th. Barclays lowered their price target on PG&E from $25.00 to $24.00 and set an “overweight” rating for the company in a report on Tuesday, December 17th. Bank of America started 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, Jefferies Financial Group started coverage on shares of PG&E in a research note on Monday, October 14th. They issued a “buy” rating and a $24.00 target price for the company.

PG&E Stock Performance

NYSE:PCG opened at $19.98 on Friday. The firm has a market capitalization of $52.25 billion, a PE ratio of 15.61, a price-to-earnings-growth ratio of 1.51 and a beta of 0.98. The company has a quick ratio of 0.99, a current ratio of 1.04 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 $21.72. The firm has a 50-day moving average price of $20.45 and a 200 day moving average price of $19.47.

PG&E (NYSE:PCG) last issued its earnings results on Thursday, November 7th. The utilities provider reported $0.37 EPS for the quarter, beating the consensus estimate of $0.32 by $0.05. The company had revenue of $5.94 billion for the quarter, compared to the consensus estimate of $6.58 billion. PG&E had a net margin of 11.11% and a return on equity of 12.51%. During the same quarter in the previous year, the company earned $0.24 EPS. The firm’s revenue for the quarter was up .9% compared to the same quarter last year. Research analysts anticipate that PG&E will post 1.36 earnings per share for the current fiscal year.

PG&E Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 15th. Stockholders of record on Tuesday, December 31st will be issued a $0.025 dividend. This is a boost from PG&E’s previous quarterly dividend of $0.01. The ex-dividend date of this dividend is Tuesday, December 31st. This represents a $0.10 annualized dividend and a dividend yield of 0.50%. PG&E’s dividend payout ratio (DPR) is presently 7.81%.

Insider Activity at PG&E

In related news, CEO Patricia K. Poppe sold 55,555 shares of the firm’s stock in a transaction 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 directly owns 1,460,222 shares of the company’s stock, valued at approximately $30,168,186.52. This trade represents a 3.67 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.15% of the stock is owned by company insiders.

Institutional Trading of PG&E

Large investors have recently added to or reduced their stakes in the company. Rothschild Investment LLC acquired a new position in shares of PG&E during the 2nd quarter worth about $30,000. Versant Capital Management Inc increased its position in PG&E by 68.3% during the fourth quarter. Versant Capital Management Inc now owns 1,543 shares of the utilities provider’s stock worth $31,000 after buying an additional 626 shares during the last quarter. Plato Investment Management Ltd bought a new stake in PG&E in the second quarter valued at approximately $44,000. William B. Walkup & Associates Inc. acquired a new stake in shares of PG&E in the second quarter valued at approximately $74,000. Finally, Blue Trust Inc. boosted its stake in shares of PG&E by 77.7% during the 3rd quarter. Blue Trust Inc. now owns 4,195 shares of the utilities provider’s stock worth $83,000 after acquiring an additional 1,834 shares during the period. Institutional investors and hedge funds 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.