Barclays Boosts PG&E (NYSE:PCG) Price Target to $25.00

PG&E (NYSE:PCG) had its target price increased by Barclays from $24.00 to $25.00 in a research report sent to investors on Monday, Benzinga reports. They currently have an overweight rating on the utilities provider’s stock.

Other analysts also recently issued research reports about the company. Jefferies Financial Group began coverage on PG&E in a research note on Monday, October 14th. They issued a “buy” rating and a $24.00 target price on the stock. Morgan Stanley upped their price target on PG&E from $19.00 to $20.00 and gave the stock an “equal weight” rating in a report on Wednesday, September 25th. Bank of America initiated coverage on PG&E in a report on Thursday, September 12th. They set a “buy” rating and a $24.00 target price for the company. Wells Fargo & Company increased their target price on PG&E from $21.00 to $22.00 and gave the company an “overweight” rating in a report on Friday, July 26th. Finally, UBS Group increased their target price on PG&E from $24.00 to $26.00 and gave the company a “buy” rating in a report on Tuesday, September 3rd. Two research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $22.80.

PG&E Stock Up 0.0 %

Shares of PCG stock opened at $20.58 on Monday. PG&E has a 1-year low of $15.59 and a 1-year high of $20.67. The stock’s fifty day moving average price is $19.68 and its 200 day moving average price is $18.44. The company has a debt-to-equity ratio of 1.99, a current ratio of 0.90 and a quick ratio of 0.86. The company has a market cap of $59.26 billion, a price-to-earnings ratio of 18.38, a price-to-earnings-growth ratio of 1.56 and a beta of 1.01.

PG&E (NYSE:PCG) last posted its quarterly earnings results on Thursday, July 25th. The utilities provider reported $0.31 earnings per share for the quarter, beating the consensus estimate of $0.30 by $0.01. The business had revenue of $5.99 billion for the quarter, compared to the consensus estimate of $5.86 billion. PG&E had a return on equity of 11.76% and a net margin of 10.22%. The company’s quarterly revenue was up 13.2% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.23 EPS. On average, research analysts expect that PG&E will post 1.36 earnings per share for the current fiscal year.

PG&E Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, October 15th. Investors of record on Monday, September 30th were given a $0.01 dividend. The ex-dividend date of this dividend was Monday, September 30th. This represents a $0.04 annualized dividend and a yield of 0.19%. PG&E’s payout ratio is 3.57%.

Insider Buying and Selling

In related news, VP Stephanie N. Williams sold 38,601 shares of the stock in a transaction that occurred on Thursday, August 15th. The stock was sold at an average price of $18.32, for a total value of $707,170.32. Following the completion of the transaction, the vice president now directly owns 19,114 shares in the company, valued at approximately $350,168.48. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. 0.15% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of PCG. Brookstone Capital Management acquired a new position in PG&E during the 1st quarter worth $256,000. Wealth Enhancement Advisory Services LLC grew its stake in PG&E by 4.6% during the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 34,506 shares of the utilities provider’s stock worth $578,000 after purchasing an additional 1,507 shares in the last quarter. Chico Wealth RIA grew its stake in PG&E by 20.3% during the 1st quarter. Chico Wealth RIA now owns 30,969 shares of the utilities provider’s stock worth $519,000 after purchasing an additional 5,224 shares in the last quarter. Allspring Global Investments Holdings LLC grew its stake in PG&E by 8.3% during the 1st quarter. Allspring Global Investments Holdings LLC now owns 136,820 shares of the utilities provider’s stock worth $2,293,000 after purchasing an additional 10,499 shares in the last quarter. Finally, State of Alaska Department of Revenue grew its stake in PG&E by 0.5% during the 1st quarter. State of Alaska Department of Revenue now owns 231,500 shares of the utilities provider’s stock worth $3,879,000 after purchasing an additional 1,115 shares in the last quarter. 78.56% of the stock is owned by institutional investors and hedge funds.

PG&E Company Profile

PG&E Corporation, through its subsidiary, Pacific Gas and Electric Company, engages in the sale and delivery of electricity and natural gas to customers in northern and central California, the United States. It generates electricity using nuclear, hydroelectric, fossil fuel-fired, fuel cell, and photovoltaic sources.