PG&E (NYSE:PCG) Reaches New 1-Year Low – Here’s Why

Shares of PG&E Co. (NYSE:PCG) reached a new 52-week low during trading on Monday . The stock traded as low as $14.95 and last traded at $14.94, with a volume of 16590894 shares. The stock had previously closed at $15.64.

Wall Street Analyst Weigh In

A number of research firms have recently weighed in on PCG. BMO Capital Markets cut their price target on shares of PG&E from $23.00 to $22.00 and set an “outperform” rating on the stock in a report on Monday, April 14th. Guggenheim upped 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. Wells Fargo & Company reissued an “overweight” rating and issued a $24.00 price target on shares of PG&E in a research report on Friday, April 25th. JPMorgan Chase & Co. reaffirmed an “overweight” rating and set a $22.00 target price on shares of PG&E in a research report on Wednesday, February 12th. Finally, UBS Group lowered shares of PG&E from a “buy” rating to a “neutral” rating and decreased their price target for the stock from $22.00 to $19.00 in a research report on Wednesday, March 19th. One investment analyst has rated the stock with a sell rating, three have given a hold rating and eight have given a buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $20.75.

PG&E Price Performance

The stock has a market capitalization of $39.58 billion, a P/E ratio of 12.87, a PEG ratio of 1.09 and a beta of 0.60. The company has a fifty day simple moving average of $16.95 and a two-hundred day simple moving average of $17.50. The company has a current ratio of 1.05, a quick ratio of 1.00 and a debt-to-equity ratio of 1.86.

PG&E (NYSE:PCG) last announced its quarterly earnings data on Thursday, April 24th. The utilities provider reported $0.33 earnings per share for the quarter, missing the consensus estimate of $0.35 by ($0.02). The company had revenue of $5.98 billion during the quarter, compared to the consensus estimate of $6.23 billion. PG&E had a net margin of 10.27% and a return on equity of 10.94%. PG&E’s revenue was up 2.1% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.37 EPS. Sell-side analysts expect that PG&E Co. will post 1.49 EPS for the current fiscal year.

PG&E Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, July 15th. Investors of record on Monday, June 30th will be issued a dividend of $0.025 per share. This represents a $0.10 dividend on an annualized basis and a yield of 0.68%. The ex-dividend date of this dividend is Monday, June 30th. PG&E’s payout ratio is currently 9.17%.

Insider Buying and Selling

In related news, EVP Carla J. Peterman sold 32,519 shares of the business’s stock in a transaction dated Tuesday, April 29th. The stock was sold at an average price of $17.30, for a total value 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. The trade was a 17.71% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 0.14% of the stock is owned by insiders.

Institutional Investors Weigh In On PG&E

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Strs Ohio acquired a new stake in PG&E in the first quarter valued at about $16,330,000. GK Wealth Management LLC lifted its stake in PG&E by 11.0% in the 1st quarter. GK Wealth Management LLC now owns 19,046 shares of the utilities provider’s stock valued at $327,000 after purchasing an additional 1,895 shares during the last quarter. Intech Investment Management LLC boosted its position in PG&E by 210.8% in the first quarter. Intech Investment Management LLC now owns 788,408 shares of the utilities provider’s stock valued at $13,545,000 after buying an additional 534,741 shares in the last quarter. Focus Partners Wealth increased its holdings in shares of PG&E by 93.0% during the first quarter. Focus Partners Wealth now owns 83,816 shares of the utilities provider’s stock worth $1,440,000 after buying an additional 40,380 shares in the last quarter. Finally, Glenview Trust co lifted its stake in shares of PG&E by 28.5% in the 1st quarter. Glenview Trust co now owns 12,849 shares of the utilities provider’s stock valued at $221,000 after acquiring an additional 2,848 shares during the last quarter. 78.56% of the stock is currently owned by institutional investors.

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.