PG&E (NYSE:PCG) Given New $24.00 Price Target at UBS Group

PG&E (NYSE:PCG) had its target price reduced by stock analysts at UBS Group from $26.00 to $24.00 in a research report issued to clients and investors on Thursday,Benzinga reports. The firm presently has a “buy” rating on the utilities provider’s stock. UBS Group’s target price points to a potential upside of 21.09% from the company’s current price.

PCG has been the subject of several other research reports. Jefferies Financial Group assumed coverage on PG&E in a research note on Monday, October 14th. They issued a “buy” rating and a $24.00 price objective for the company. Barclays lowered their price target on shares of PG&E from $25.00 to $24.00 and set an “overweight” rating for the company in a report on Tuesday. Morgan Stanley increased their target price on PG&E from $19.00 to $20.00 and gave the company an “equal weight” rating in a report on Wednesday, September 25th. Bank of America assumed coverage on PG&E in a report on Thursday, September 12th. They set a “buy” rating and a $24.00 price target for the company. Finally, Mizuho increased their price target on shares of PG&E from $24.00 to $26.00 and gave the company an “outperform” rating in a research note on Wednesday, November 27th. Two investment analysts have rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, PG&E has an average rating of “Moderate Buy” and an average price target of $22.80.

PG&E Trading Up 2.1 %

PCG opened at $19.82 on Thursday. The company has a quick ratio of 0.99, a current ratio of 1.04 and a debt-to-equity ratio of 2.02. The firm has a market cap of $51.84 billion, a P/E ratio of 15.48, a P/E/G ratio of 1.51 and a beta of 1.01. PG&E has a 52 week low of $15.94 and a 52 week high of $21.72. The business has a fifty day simple moving average of $20.52 and a 200-day simple moving average of $19.29.

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

Insider Activity at PG&E

In related news, CEO Patricia K. Poppe sold 55,555 shares of the business’s stock in a transaction dated Monday, December 2nd. The shares were sold at an average price of $20.66, for a total value of $1,147,766.30. Following the completion of the transaction, the chief executive officer now owns 1,460,222 shares of the company’s stock, valued at approximately $30,168,186.52. The trade was a 3.67 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Company 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 the company. Rothschild Investment LLC acquired a new stake in shares of PG&E during the second quarter worth $30,000. UMB Bank n.a. increased its stake in shares of PG&E by 84.7% in the second quarter. UMB Bank n.a. now owns 2,204 shares of the utilities provider’s stock valued at $38,000 after purchasing an additional 1,011 shares during the period. Blue Trust Inc. raised its stake in PG&E by 77.0% during the 2nd quarter. Blue Trust Inc. now owns 2,361 shares of the utilities provider’s stock valued at $40,000 after acquiring an additional 1,027 shares in the last quarter. Plato Investment Management Ltd acquired a new stake in PG&E in the second quarter worth about $44,000. Finally, Crewe Advisors LLC lifted its stake in shares of PG&E by 243.0% in the 2nd quarter. Crewe Advisors LLC now owns 4,041 shares of the utilities provider’s stock worth $71,000 after acquiring an additional 2,863 shares during the period. 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.