PG&E Co. (NYSE:PCG) Given Average Rating of “Moderate Buy” by Brokerages

PG&E Co. (NYSE:PCG) has been assigned an average recommendation of “Moderate Buy” from the twelve analysts that are presently covering the company, Marketbeat Ratings reports. One analyst has rated the stock with a sell recommendation, three have given a hold recommendation and eight have given a buy recommendation to the company. The average 1-year target price among brokers that have updated their coverage on the stock in the last year is $20.75.

PCG has been the subject of several research reports. UBS Group downgraded PG&E from a “buy” rating to a “neutral” rating and cut their price target for the stock from $22.00 to $19.00 in a research note on Wednesday, March 19th. Guggenheim lifted their price target on PG&E from $16.00 to $17.00 and gave the stock a “neutral” rating in a research note on Friday, April 25th. JPMorgan Chase & Co. reaffirmed an “overweight” rating and set a $22.00 price target on shares of PG&E in a research note on Wednesday, February 12th. Jefferies Financial Group lifted their price target on PG&E from $20.00 to $22.00 and gave the stock a “buy” rating in a research note on Wednesday, April 23rd. Finally, Mizuho boosted their target price on shares of PG&E from $20.00 to $21.00 and gave the company an “outperform” rating in a research note on Monday, May 19th.

Insider Activity

In other news, EVP Carla J. Peterman sold 32,519 shares of the company’s stock in a transaction dated Tuesday, April 29th. The shares were sold at an average price of $17.30, for a total transaction of $562,578.70. Following the completion of the transaction, the executive vice president now 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 transaction was disclosed in a legal filing with the SEC, which is available through this link. Corporate insiders own 0.14% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the stock. New York State Teachers Retirement System increased its stake in shares of PG&E by 8.2% during the 4th quarter. New York State Teachers Retirement System now owns 1,974,070 shares of the utilities provider’s stock valued at $39,837,000 after acquiring an additional 148,860 shares during the last quarter. Atria Wealth Solutions Inc. purchased a new stake in shares of PG&E during the 4th quarter worth about $466,000. Rhumbline Advisers grew its holdings in shares of PG&E by 5.7% during the 4th quarter. Rhumbline Advisers now owns 4,248,558 shares of the utilities provider’s stock worth $85,736,000 after purchasing an additional 228,099 shares during the period. Cetera Investment Advisers grew its holdings in shares of PG&E by 14.5% during the 4th quarter. Cetera Investment Advisers now owns 101,240 shares of the utilities provider’s stock worth $2,043,000 after purchasing an additional 12,847 shares during the period. Finally, Savant Capital LLC grew its holdings in shares of PG&E by 6.9% during the 4th quarter. Savant Capital LLC now owns 27,113 shares of the utilities provider’s stock worth $547,000 after purchasing an additional 1,739 shares during the period. Institutional investors and hedge funds own 78.56% of the company’s stock.

PG&E Price Performance

Shares of NYSE PCG opened at $15.60 on Wednesday. The firm has a market capitalization of $41.74 billion, a P/E ratio of 13.57, a PEG ratio of 1.09 and a beta of 0.60. PG&E has a one year low of $14.99 and a one year high of $21.72. The company’s fifty day moving average is $16.95 and its two-hundred day moving average is $17.50. The company has a debt-to-equity ratio of 1.86, a quick ratio of 1.00 and a current ratio of 1.05.

PG&E (NYSE:PCG) last issued its earnings results on Thursday, April 24th. The utilities provider reported $0.33 EPS for the quarter, missing the consensus estimate of $0.35 by ($0.02). The company had revenue of $5.98 billion for the quarter, compared to analysts’ expectations 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 for the quarter was up 2.1% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.37 earnings per share. Analysts forecast that PG&E will post 1.49 EPS for the current fiscal year.

PG&E Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 15th. Stockholders of record on Monday, June 30th will be paid a dividend of $0.025 per share. This represents a $0.10 dividend on an annualized basis and a dividend yield of 0.64%. The ex-dividend date of this dividend is Monday, June 30th. PG&E’s dividend payout ratio is currently 9.17%.

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.