PG&E (NYSE:PCG) Reaches New 12-Month Low Following Analyst Downgrade

PG&E Co. (NYSE:PCGGet Free Report) shares hit a new 52-week low during mid-day trading on Tuesday after Barclays lowered their price target on the stock from $24.00 to $23.00. Barclays currently has an overweight rating on the stock. PG&E traded as low as $15.90 and last traded at $15.97, with a volume of 7418999 shares trading hands. The stock had previously closed at $16.29.

Several other research firms have also recently weighed in on PCG. Mizuho upped their price objective on PG&E from $24.00 to $26.00 and gave the stock an “outperform” rating in a research report on Wednesday, November 27th. BMO Capital Markets initiated coverage on shares of PG&E in a research note on Monday, January 13th. They set an “outperform” rating and a $21.00 price target for the company. UBS Group reduced their target price on shares of PG&E from $26.00 to $24.00 and set a “buy” rating for the company in a report on Thursday, December 19th. Finally, Jefferies Financial Group initiated coverage on shares of PG&E in a research note on Monday, October 14th. They issued a “buy” rating and a $24.00 price target on the stock. Two investment analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $22.55.

View Our Latest Stock Analysis on PCG

Insider Buying and Selling

In other PG&E news, CEO Patricia K. Poppe sold 55,555 shares of the business’s stock in a transaction on Monday, December 2nd. The shares were 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 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 position. The sale was disclosed in a legal filing with the SEC, which is available through this link. 0.15% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the company. Versant Capital Management Inc grew its position in shares of PG&E by 68.3% during the 4th quarter. Versant Capital Management Inc now owns 1,543 shares of the utilities provider’s stock valued at $31,000 after purchasing an additional 626 shares in the last quarter. UMB Bank n.a. grew its position in PG&E by 61.5% in the fourth quarter. UMB Bank n.a. now owns 3,956 shares of the utilities provider’s stock worth $80,000 after acquiring an additional 1,506 shares in the last quarter. Blue Trust Inc. grew its position in PG&E by 77.7% in the third quarter. Blue Trust Inc. now owns 4,195 shares of the utilities provider’s stock worth $83,000 after acquiring an additional 1,834 shares in the last quarter. Catalyst Capital Advisors LLC grew its position in 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 acquiring an additional 2,154 shares in the last quarter. Finally, Huntington National Bank grew its position in PG&E by 32.9% in the third quarter. Huntington National Bank now owns 4,831 shares of the utilities provider’s stock worth $96,000 after acquiring an additional 1,195 shares in the last quarter. 78.56% of the stock is currently owned by hedge funds and other institutional investors.

PG&E Price Performance

The firm’s 50-day moving average is $19.24 and its 200-day moving average is $19.41. The company has a market capitalization of $41.30 billion, a PE ratio of 12.34, a price-to-earnings-growth ratio of 1.15 and a beta of 0.98. The company has a quick ratio of 0.99, a current ratio of 1.04 and a debt-to-equity ratio of 2.02.

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

PG&E Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, January 15th. Investors of record on Tuesday, December 31st were paid a $0.025 dividend. This is an increase from PG&E’s previous quarterly dividend of $0.01. This represents a $0.10 dividend on an annualized basis and a yield of 0.63%. The ex-dividend date of this dividend was Tuesday, December 31st. PG&E’s dividend payout ratio is presently 7.81%.

PG&E Company Profile

(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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