Barclays Issues Pessimistic Forecast for PG&E (NYSE:PCG) Stock Price

PG&E (NYSE:PCGGet Free Report) had its price objective decreased by investment analysts at Barclays from $24.00 to $23.00 in a research note issued to investors on Monday,Benzinga reports. The brokerage presently has an “overweight” rating on the utilities provider’s stock. Barclays‘s target price indicates a potential upside of 44.25% from the company’s previous close.

Other research analysts have also recently issued reports about the company. UBS Group lowered their target price on PG&E from $26.00 to $24.00 and set a “buy” rating for the company in a research note on Thursday, December 19th. Mizuho upped their target price 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. Jefferies Financial Group initiated coverage on shares of PG&E in a report on Monday, October 14th. They issued a “buy” rating and a $24.00 target price on the stock. Finally, BMO Capital Markets initiated coverage on shares of PG&E in a report on Monday, January 13th. They set an “outperform” rating and a $21.00 price target for the company. Two research analysts have rated the stock with a hold rating and ten have given a buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $22.55.

Get Our Latest Stock Analysis on PCG

PG&E Stock Performance

Shares of PCG stock opened at $15.95 on Monday. PG&E has a one year low of $15.78 and a one year high of $21.72. The company has a debt-to-equity ratio of 2.02, a quick ratio of 0.99 and a current ratio of 1.04. The firm’s 50 day moving average price is $19.35 and its 200-day moving average price is $19.43. The firm has a market cap of $41.70 billion, a P/E ratio of 12.46, a P/E/G ratio of 1.15 and a beta of 0.98.

PG&E (NYSE:PCGGet Free Report) last released its quarterly earnings results on Thursday, November 7th. The utilities provider reported $0.37 EPS for the quarter, topping the consensus estimate of $0.32 by $0.05. PG&E had a return on equity of 12.51% and a net margin of 11.11%. The business had revenue of $5.94 billion during the quarter, compared to analyst estimates of $6.58 billion. During the same period last year, the business posted $0.24 earnings per share. The company’s quarterly revenue was up .9% on a year-over-year basis. As a group, equities research analysts predict that PG&E will post 1.36 EPS for the current year.

Insider Buying and Selling at PG&E

In other news, CEO Patricia K. Poppe sold 55,555 shares of the business’s stock in a transaction dated Monday, December 2nd. The stock was sold at an average price of $20.66, for a total value of $1,147,766.30. Following the completion of the sale, the chief executive officer now directly 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 0.15% of the stock is currently owned by insiders.

Institutional Investors Weigh In On PG&E

A number of institutional investors and hedge funds have recently added to or reduced their stakes in PCG. FMR LLC increased its position in PG&E by 5.1% in the 3rd quarter. FMR LLC now owns 176,839,426 shares of the utilities provider’s stock valued at $3,496,115,000 after acquiring an additional 8,604,396 shares during the period. State Street Corp increased its holdings in shares of PG&E by 5.0% in the third quarter. State Street Corp now owns 108,953,808 shares of the utilities provider’s stock valued at $2,155,093,000 after purchasing an additional 5,191,463 shares during the period. Brookfield Corp ON increased its holdings in shares of PG&E by 45.6% in the third quarter. Brookfield Corp ON now owns 12,643,085 shares of the utilities provider’s stock valued at $249,954,000 after purchasing an additional 3,958,495 shares during the period. Clearbridge Investments LLC purchased a new stake in shares of PG&E during the second quarter worth approximately $56,679,000. Finally, Massachusetts Financial Services Co. MA lifted its holdings in shares of PG&E by 2.9% during the third quarter. Massachusetts Financial Services Co. MA now owns 104,846,953 shares of the utilities provider’s stock worth $2,072,824,000 after purchasing an additional 2,936,763 shares during the period. Hedge funds and other institutional investors own 78.56% of the company’s stock.

About PG&E

(Get Free Report)

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.

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Analyst Recommendations for PG&E (NYSE:PCG)

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