Mizuho Issues Positive Forecast for PG&E (NYSE:PCG) Stock Price

PG&E (NYSE:PCG) had its target price raised by research analysts at Mizuho from $20.00 to $21.00 in a research report issued on Monday,Benzinga reports. The firm currently has an “outperform” rating on the utilities provider’s stock. Mizuho’s price target points to a potential upside of 18.14% from the stock’s previous close.

Several other equities research analysts have also issued reports on PCG. JPMorgan Chase & Co. reiterated an “overweight” rating and set a $22.00 price target on shares of PG&E in a report on Wednesday, February 12th. Wells Fargo & Company reissued an “overweight” rating and issued a $24.00 target price on shares of PG&E in a research note on Friday, April 25th. Jefferies Financial Group increased their price objective on PG&E from $20.00 to $22.00 and gave the stock a “buy” rating in a report on Wednesday, April 23rd. UBS Group downgraded PG&E from a “buy” rating to a “neutral” rating and decreased their price target for the company from $22.00 to $19.00 in a research note on Wednesday, March 19th. Finally, Evercore ISI raised their price objective on PG&E from $15.00 to $17.00 and gave the company an “in-line” rating in a research report on Monday, April 28th. One analyst has rated the stock with a sell rating, three have assigned a hold rating and eight have issued a buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $20.71.

PG&E Stock Down 0.5%

Shares of PCG stock traded down $0.10 during mid-day trading on Monday, reaching $17.78. 3,947,932 shares of the company were exchanged, compared to its average volume of 16,434,898. PG&E has a fifty-two week low of $14.99 and a fifty-two week high of $21.72. The company has a debt-to-equity ratio of 1.86, a quick ratio of 1.00 and a current ratio of 1.05. The company has a market capitalization of $47.56 billion, a P/E ratio of 15.46, a P/E/G ratio of 1.09 and a beta of 0.63. The business’s 50 day simple moving average is $17.00 and its 200 day simple moving average is $17.91.

PG&E (NYSE:PCG) last released its earnings results on Thursday, April 24th. The utilities provider reported $0.33 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.35 by ($0.02). The firm had revenue of $5.98 billion for the quarter, compared to analyst estimates of $6.23 billion. PG&E had a return on equity of 10.94% and a net margin of 10.27%. PG&E’s revenue was up 2.1% on a year-over-year basis. During the same period in the previous year, the firm earned $0.37 earnings per share. Research analysts predict that PG&E will post 1.49 earnings per share for the current year.

Insider Activity at PG&E

In other PG&E news, Director Arno Lockheart Harris acquired 6,389 shares of the company’s stock in a transaction that occurred on Thursday, February 20th. The stock was bought at an average price of $15.66 per share, with a total value of $100,051.74. Following the completion of the purchase, the director now owns 14,864 shares of the company’s stock, valued at approximately $232,770.24. This represents a 75.39% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, EVP Carla J. Peterman sold 32,519 shares of PG&E stock in a transaction on Tuesday, April 29th. The shares were sold at an average price of $17.30, for a total value of $562,578.70. Following the sale, the executive vice president now directly owns 151,116 shares of the company’s stock, valued at $2,614,306.80. This represents a 17.71% decrease in their position. The disclosure for this sale can be found here. 0.14% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On PG&E

Several hedge funds and other institutional investors have recently modified their holdings of PCG. New York State Teachers Retirement System increased its stake in PG&E by 8.2% in the 4th quarter. New York State Teachers Retirement System now owns 1,974,070 shares of the utilities provider’s stock worth $39,837,000 after buying an additional 148,860 shares in the last quarter. Atria Wealth Solutions Inc. purchased a new position in PG&E in the fourth quarter worth $466,000. Merit Financial Group LLC acquired a new stake in shares of PG&E during the fourth quarter worth $336,000. Mediolanum International Funds Ltd lifted its stake in shares of PG&E by 327.7% during the fourth quarter. Mediolanum International Funds Ltd now owns 167,580 shares of the utilities provider’s stock worth $3,365,000 after buying an additional 128,396 shares during the period. Finally, Union Bancaire Privee UBP SA acquired a new position in PG&E during the fourth quarter valued at $1,862,000. 78.56% of the stock is owned by institutional investors.

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.