PG&E (NYSE:PCG) Given New $23.00 Price Target at BMO Capital Markets

PG&E (NYSE:PCG) had its target price hoisted by equities research analysts at BMO Capital Markets from $21.00 to $23.00 in a research note issued to investors on Tuesday,Benzinga reports. The brokerage currently has an “outperform” rating on the utilities provider’s stock. BMO Capital Markets’ price target would suggest a potential upside of 49.31% from the stock’s current price.

PCG has been the subject of several other reports. JPMorgan Chase & Co. reaffirmed an “overweight” rating and set a $22.00 price target on shares of PG&E in a report on Wednesday, February 12th. Barclays reduced their target price on shares of PG&E from $24.00 to $23.00 and set an “overweight” rating for the company in a research note on Monday, January 27th. Guggenheim lowered shares of PG&E from a “buy” rating to a “neutral” rating in a research note on Tuesday. Morgan Stanley cut PG&E from an “equal weight” rating to an “underweight” rating and reduced their price target for the company from $20.00 to $16.50 in a report on Friday. Finally, UBS Group decreased their price objective on shares of PG&E from $24.00 to $22.00 and set a “buy” rating on the stock in a report on Thursday, January 30th. One equities research analyst has rated the stock with a sell rating, one has given a hold rating and ten have given a buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $22.23.

PG&E Stock Performance

NYSE PCG traded up $0.11 during trading on Tuesday, reaching $15.40. The company’s stock had a trading volume of 15,942,917 shares, compared to its average volume of 28,392,793. The business’s fifty day moving average price is $17.83 and its 200-day moving average price is $19.18. PG&E has a twelve month low of $14.99 and a twelve month high of $21.72. The company has a debt-to-equity ratio of 2.02, a quick ratio of 0.99 and a current ratio of 1.04. The firm has a market cap of $40.29 billion, a price-to-earnings ratio of 12.03, a P/E/G ratio of 1.09 and a beta of 0.99.

PG&E (NYSE:PCG) last issued its quarterly earnings results on Thursday, February 13th. The utilities provider reported $0.31 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.31. PG&E had a return on equity of 12.51% and a net margin of 11.11%. The firm had revenue of $6.63 billion for the quarter, compared to analysts’ expectations of $7.29 billion. During the same quarter in the previous year, the firm posted $0.47 EPS. As a group, analysts anticipate that PG&E will post 1.36 EPS for the current fiscal year.

Insider Buying and Selling at PG&E

In related news, CEO Patricia K. Poppe sold 55,555 shares of the business’s stock in a transaction dated 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 owns 1,460,222 shares of the company’s stock, valued at approximately $30,168,186.52. The trade was a 3.67 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 0.15% of the stock is owned by insiders.

Institutional Investors Weigh In On PG&E

Several hedge funds have recently modified their holdings of the company. Vanguard Group Inc. lifted its stake in shares of PG&E by 2.5% during the fourth quarter. Vanguard Group Inc. now owns 254,358,968 shares of the utilities provider’s stock valued at $5,132,964,000 after buying an additional 6,151,233 shares during the period. FMR LLC increased its position in PG&E by 5.1% during the third quarter. FMR LLC now owns 176,839,426 shares of the utilities provider’s stock worth $3,496,115,000 after purchasing an additional 8,604,396 shares during the last quarter. State Street Corp raised its stake in PG&E by 5.0% during the third quarter. State Street Corp now owns 108,953,808 shares of the utilities provider’s stock worth $2,155,093,000 after purchasing an additional 5,191,463 shares during the period. Massachusetts Financial Services Co. MA boosted its holdings in shares of PG&E by 2.9% in the 3rd quarter. Massachusetts Financial Services Co. MA now owns 104,846,953 shares of the utilities provider’s stock valued at $2,072,824,000 after purchasing an additional 2,936,763 shares during the last quarter. Finally, Geode Capital Management LLC grew its stake in shares of PG&E by 4.3% during the 4th quarter. Geode Capital Management LLC now owns 51,988,553 shares of the utilities provider’s stock valued at $1,046,462,000 after buying an additional 2,151,494 shares during the period. 78.56% of the stock is owned by institutional investors and hedge funds.

About PG&E

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.