Brokerages Set PG&E Co. (NYSE:PCG) Target Price at $21.13

Shares of PG&E Co. (NYSE:PCG) have been given an average rating of “Moderate Buy” by the twelve brokerages that are covering the company, Marketbeat.com reports. One investment analyst has rated the stock with a sell recommendation, three have issued a hold recommendation and eight have assigned a buy recommendation to the company. The average 12 month price objective among brokerages that have issued ratings on the stock in the last year is $21.13.

A number of brokerages have recently weighed in on PCG. Guggenheim upped their price target on shares of PG&E from $16.00 to $17.00 and gave the stock a “neutral” rating in a report on Friday, April 25th. BMO Capital Markets cut their price target on shares of PG&E from $23.00 to $22.00 and set an “outperform” rating for the company in a report on Monday, April 14th. Wells Fargo & Company reaffirmed an “overweight” rating and set a $24.00 price target on shares of PG&E in a report on Friday, April 25th. Morgan Stanley reaffirmed an “underweight” rating on shares of PG&E in a report on Wednesday, April 23rd. Finally, UBS Group downgraded shares of 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 report on Wednesday, March 19th.

Insider Buying and Selling at PG&E

In other PG&E news, Director Arno Lockheart Harris purchased 6,389 shares of the firm’s stock in a transaction on Thursday, February 20th. The stock was purchased at an average cost of $15.66 per share, for a total transaction of $100,051.74. Following the transaction, the director now owns 14,864 shares in the company, valued at $232,770.24. The trade was a 75.39% increase in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, EVP Carla J. Peterman sold 32,521 shares of the company’s stock in a transaction that occurred on Tuesday, March 4th. The shares were sold at an average price of $16.37, for a total transaction of $532,368.77. Following the completion of the transaction, the executive vice president now owns 183,635 shares of the company’s stock, valued at approximately $3,006,104.95. This trade represents a 15.05% decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 0.14% of the company’s stock.

Hedge Funds Weigh In On PG&E

Several institutional investors and hedge funds have recently added to or reduced their stakes in the business. Costello Asset Management INC acquired a new stake in shares of PG&E during the first quarter worth $31,000. True Wealth Design LLC increased its position in shares of PG&E by 1,233.6% during the fourth quarter. True Wealth Design LLC now owns 1,827 shares of the utilities provider’s stock worth $37,000 after buying an additional 1,690 shares during the period. Deseret Mutual Benefit Administrators increased its position in shares of PG&E by 45.0% during the first quarter. Deseret Mutual Benefit Administrators now owns 2,173 shares of the utilities provider’s stock worth $37,000 after buying an additional 674 shares during the period. Colonial Trust Co SC increased its position in shares of PG&E by 563.0% during the fourth quarter. Colonial Trust Co SC now owns 1,916 shares of the utilities provider’s stock worth $39,000 after buying an additional 1,627 shares during the period. Finally, Safe Harbor Fiduciary LLC acquired a new stake in shares of PG&E during the first quarter worth $39,000. 78.56% of the stock is currently owned by institutional investors and hedge funds.

PG&E Stock Performance

Shares of NYSE:PCG opened at $17.85 on Friday. The company’s 50 day moving average price is $17.00 and its two-hundred day moving average price is $17.94. PG&E has a 12-month low of $14.99 and a 12-month high of $21.72. The firm has a market cap of $47.76 billion, a PE ratio of 15.52, a PEG ratio of 1.09 and a beta of 0.63. The company has a quick ratio of 1.00, a current ratio of 1.05 and a debt-to-equity ratio of 1.86.

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

PG&E Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, April 15th. Investors of record on Monday, March 31st were paid a $0.025 dividend. This represents a $0.10 annualized dividend and a yield of 0.56%. The ex-dividend date was Monday, March 31st. PG&E’s payout ratio is 9.17%.

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.