PG&E (NYSE:PCG) Earns Overweight Rating from JPMorgan Chase & Co.

JPMorgan Chase & Co. restated their overweight rating on shares of PG&E (NYSE:PCG) in a report issued on Wednesday, Marketbeat.com reports. They currently have a $22.00 target price on the utilities provider’s stock.

Several other research firms also recently issued reports on PCG. BMO Capital Markets assumed coverage on shares of PG&E in a research note on Monday, January 13th. They set an “outperform” rating and a $21.00 price target on the stock. Barclays dropped their target price on PG&E from $24.00 to $23.00 and set an “overweight” rating on the stock in a research report on Monday, January 27th. Mizuho increased their price target on PG&E from $24.00 to $26.00 and gave the company an “outperform” rating in a report on Wednesday, November 27th. Finally, UBS Group lowered their price objective on PG&E from $24.00 to $22.00 and set a “buy” rating for the company in a research note on Thursday, January 30th. One equities research analyst has rated the stock with a hold rating and ten have given a buy rating to the company. Based on data from MarketBeat.com, PG&E has an average rating of “Moderate Buy” and an average target price of $22.36.

PG&E Stock Up 1.5 %

Shares of NYSE:PCG opened at $16.02 on Wednesday. The company has a market capitalization of $41.90 billion, a price-to-earnings ratio of 12.52, a price-to-earnings-growth ratio of 1.09 and a beta of 0.99. The company has a 50 day moving average of $18.21 and a two-hundred day moving average of $19.26. PG&E has a 52-week low of $14.99 and a 52-week high of $21.72. The company has a quick ratio of 0.99, a current ratio of 1.04 and a debt-to-equity ratio of 2.02.

Insiders Place Their Bets

In related news, CEO Patricia K. Poppe sold 55,555 shares of the company’s stock in a transaction that occurred on Monday, December 2nd. The stock was sold at an average price of $20.66, for a total transaction of $1,147,766.30. Following the sale, the chief executive officer now directly owns 1,460,222 shares of the company’s stock, valued at approximately $30,168,186.52. This represents a 3.67 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. 0.15% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On PG&E

A number of hedge funds have recently added to or reduced their stakes in PCG. Versant Capital Management Inc lifted its position in shares of PG&E by 68.3% in the 4th 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. UMB Bank n.a. raised its stake in PG&E by 61.5% during the fourth quarter. UMB Bank n.a. now owns 3,956 shares of the utilities provider’s stock worth $80,000 after acquiring an additional 1,506 shares during the period. Blue Trust Inc. lifted its holdings in PG&E by 77.7% in the third 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 last quarter. Catalyst Capital Advisors LLC boosted its stake in PG&E by 98.5% in the third quarter. Catalyst Capital Advisors LLC now owns 4,340 shares of the utilities provider’s stock valued at $86,000 after acquiring an additional 2,154 shares during the period. Finally, Huntington National Bank grew its holdings in shares of PG&E by 32.9% during the third quarter. Huntington National Bank now owns 4,831 shares of the utilities provider’s stock valued at $96,000 after purchasing an additional 1,195 shares during the last quarter. Institutional investors and hedge funds own 78.56% of the company’s stock.

PG&E Company Profile

PG&E Corp. operates as a holding company, which engages in generation, transmission, and distribution of electricity and natural gas to customers. It specializes in energy, utility, power, gas, electricity, solar and sustainability. The company was founded in 1995 and is headquartered in Oakland, CA.