PG&E (NYSE:PCG) Price Target Increased to $19.00 by Analysts at JPMorgan Chase & Co.

PG&E (NYSE:PCG) had its target price raised by JPMorgan Chase & Co. from $18.00 to $19.00 in a research note issued to investors on Tuesday, Benzinga reports. They currently have a neutral rating on the utilities provider’s stock.

Several other research analysts have also recently issued reports on PCG. StockNews.com raised PG&E from a sell rating to a hold rating in a report on Thursday, February 1st. The Goldman Sachs Group assumed coverage on PG&E in a report on Wednesday, April 10th. They issued a buy rating and a $21.00 price target on the stock. Finally, Barclays dropped their price target on PG&E from $20.00 to $19.00 and set an overweight rating on the stock in a report on Monday, January 22nd. Four analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of Moderate Buy and an average price target of $18.89.

PG&E Price Performance

Shares of NYSE:PCG opened at $16.96 on Tuesday. PG&E has a 12 month low of $14.71 and a 12 month high of $18.32. The stock has a market cap of $36.24 billion, a price-to-earnings ratio of 16.15 and a beta of 1.32. The stock’s 50 day moving average price is $16.55 and its 200 day moving average price is $16.88. The company has a debt-to-equity ratio of 2.04, a current ratio of 0.83 and a quick ratio of 0.78.

PG&E (NYSE:PCG) last announced its earnings results on Thursday, February 22nd. The utilities provider reported $0.47 EPS for the quarter, topping the consensus estimate of $0.46 by $0.01. The firm had revenue of $7.04 billion for the quarter, compared to analysts’ expectations of $6.43 billion. PG&E had a return on equity of 10.84% and a net margin of 9.24%. During the same quarter in the previous year, the company earned $0.26 earnings per share. Equities research analysts anticipate that PG&E will post 1.35 earnings per share for the current fiscal year.

PG&E Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, April 15th. Shareholders of record on Thursday, March 28th were paid a dividend of $0.01 per share. This represents a $0.04 annualized dividend and a yield of 0.24%. The ex-dividend date was Wednesday, March 27th. PG&E’s dividend payout ratio (DPR) is currently 3.81%.

Hedge Funds Weigh In On PG&E

Several institutional investors and hedge funds have recently modified their holdings of the stock. Raymond James Trust N.A. grew its holdings in shares of PG&E by 4.2% during the 4th quarter. Raymond James Trust N.A. now owns 17,013 shares of the utilities provider’s stock valued at $307,000 after acquiring an additional 680 shares in the last quarter. Bleakley Financial Group LLC grew its holdings in shares of PG&E by 1.5% during the 4th quarter. Bleakley Financial Group LLC now owns 45,332 shares of the utilities provider’s stock valued at $817,000 after acquiring an additional 691 shares in the last quarter. Global Retirement Partners LLC grew its holdings in shares of PG&E by 8.0% during the 1st quarter. Global Retirement Partners LLC now owns 9,275 shares of the utilities provider’s stock valued at $155,000 after acquiring an additional 691 shares in the last quarter. Parallel Advisors LLC grew its holdings in shares of PG&E by 2.1% during the 4th quarter. Parallel Advisors LLC now owns 35,427 shares of the utilities provider’s stock valued at $639,000 after acquiring an additional 712 shares in the last quarter. Finally, Signaturefd LLC grew its holdings in shares of PG&E by 10.9% during the 3rd quarter. Signaturefd LLC now owns 8,067 shares of the utilities provider’s stock valued at $130,000 after acquiring an additional 794 shares in the last quarter. 78.56% of the stock is currently owned by hedge funds and other institutional investors.

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.