PG&E (NYSE:PCG) Price Target Lowered to $22.00 at UBS Group

PG&E (NYSE:PCG) had its price objective dropped by stock analysts at UBS Group from $24.00 to $22.00 in a research note issued on Thursday,Benzinga reports. The firm presently has a “buy” rating on the utilities provider’s stock. UBS Group’s price target points to a potential upside of 40.35% from the company’s previous close.

Several other equities analysts have also recently issued reports on the company. Barclays dropped their target price on PG&E from $24.00 to $23.00 and set an “overweight” rating on the stock in a research report on Monday. BMO Capital Markets started coverage on shares of PG&E in a research report on Monday, January 13th. They set an “outperform” rating and a $21.00 target price on the stock. Mizuho upped their price target on shares of PG&E from $24.00 to $26.00 and gave the stock an “outperform” rating in a research note on Wednesday, November 27th. Finally, Jefferies Financial Group began coverage on shares of PG&E in a report on Monday, October 14th. They set a “buy” rating and a $24.00 price objective on the stock. Two research analysts have rated the stock with a hold rating and ten have given a buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $22.36.

PG&E Trading Down 0.7 %

PG&E stock traded down $0.12 during midday trading on Thursday, hitting $15.68. 22,209,603 shares of the stock were exchanged, compared to its average volume of 30,884,666. The stock’s 50-day simple moving average is $19.24 and its 200 day simple moving average is $19.41. The stock has a market capitalization of $40.99 billion, a price-to-earnings ratio of 12.25, a PEG ratio of 1.15 and a beta of 0.98. The company has a current ratio of 1.04, a quick ratio of 0.99 and a debt-to-equity ratio of 2.02. PG&E has a fifty-two week low of $15.52 and a fifty-two week high of $21.72.

PG&E (NYSE:PCG) last posted its earnings results on Thursday, November 7th. The utilities provider reported $0.37 EPS for the quarter, beating analysts’ consensus estimates of $0.32 by $0.05. The company had revenue of $5.94 billion for the quarter, compared to the consensus estimate of $6.58 billion. PG&E had a return on equity of 12.51% and a net margin of 11.11%. The company’s revenue for the quarter was up .9% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.24 earnings per share. On average, equities analysts anticipate that PG&E will post 1.36 EPS for the current year.

Insider Activity

In other news, CEO Patricia K. Poppe sold 55,555 shares of the business’s stock in a transaction on Monday, December 2nd. The stock was sold at an average price of $20.66, for a total transaction of $1,147,766.30. Following the sale, the chief executive officer now directly owns 1,460,222 shares of the company’s stock, valued at $30,168,186.52. The trade was a 3.67 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Corporate insiders own 0.15% of the company’s stock.

Hedge Funds Weigh In On PG&E

Several hedge funds and other institutional investors have recently modified their holdings of PCG. Versant Capital Management Inc boosted its stake in PG&E by 68.3% during the 4th quarter. Versant Capital Management Inc now owns 1,543 shares of the utilities provider’s stock worth $31,000 after acquiring an additional 626 shares during the last quarter. UMB Bank n.a. grew its holdings in shares of PG&E by 61.5% during the 4th quarter. UMB Bank n.a. now owns 3,956 shares of the utilities provider’s stock worth $80,000 after purchasing an additional 1,506 shares in the last quarter. Blue Trust Inc. increased its position in PG&E by 77.7% during the 3rd quarter. Blue Trust Inc. now owns 4,195 shares of the utilities provider’s stock worth $83,000 after purchasing an additional 1,834 shares in the last quarter. Catalyst Capital Advisors LLC grew its stake in shares of PG&E by 98.5% in the third quarter. Catalyst Capital Advisors LLC now owns 4,340 shares of the utilities provider’s stock worth $86,000 after purchasing an additional 2,154 shares during the last quarter. Finally, Huntington National Bank lifted its holdings in PG&E by 32.9% in the third quarter. Huntington National Bank now owns 4,831 shares of the utilities provider’s stock valued at $96,000 after buying an additional 1,195 shares during the period. Institutional investors own 78.56% of the company’s stock.

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.