PG&E Co. (NYSE:PCG) Receives Average Recommendation of “Moderate Buy” from Brokerages

Shares of PG&E Co. (NYSE:PCG) have earned a consensus rating of “Moderate Buy” from the twelve ratings firms that are presently covering the firm, MarketBeat.com reports. One investment analyst has rated the stock with a sell recommendation, two have given a hold recommendation and nine have assigned a buy recommendation to the company. The average twelve-month price target among brokers that have covered the stock in the last year is $22.05.

Several research analysts recently weighed in on the company. Barclays cut their target price on PG&E from $24.00 to $23.00 and set an “overweight” rating on the stock in a research report on Monday, January 27th. Guggenheim lowered PG&E from a “buy” rating to a “neutral” rating in a research note on Tuesday, February 18th. BMO Capital Markets lifted their price objective on PG&E from $21.00 to $23.00 and gave the company an “outperform” rating in a research note on Tuesday, February 18th. Morgan Stanley increased their target price on shares of PG&E from $16.50 to $17.50 and gave the stock an “underweight” rating in a research report on Thursday. Finally, Mizuho raised their price target on shares of PG&E from $24.00 to $26.00 and gave the company an “outperform” rating in a report on Wednesday, November 27th.

Insider Buying and Selling at PG&E

In other PG&E news, Director Arno Lockheart Harris bought 6,389 shares of the business’s stock in a transaction on Thursday, February 20th. The shares were bought at an average cost of $15.66 per share, with a total value of $100,051.74. Following the transaction, the director now directly owns 14,864 shares in the company, valued at approximately $232,770.24. This trade represents a 75.39 % increase in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, EVP Carla J. Peterman sold 32,521 shares of the firm’s stock in a transaction that occurred on Tuesday, March 4th. The stock was sold at an average price of $16.37, for a total transaction of $532,368.77. Following the sale, the executive vice president now directly owns 183,635 shares of the company’s stock, valued at $3,006,104.95. The trade was a 15.05 % decrease in their position. The disclosure for this sale can be found here. 0.15% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in the stock. Czech National Bank grew its stake in PG&E by 8.9% in the fourth quarter. Czech National Bank now owns 474,013 shares of the utilities provider’s stock worth $9,566,000 after purchasing an additional 38,590 shares in the last quarter. New York State Teachers Retirement System lifted its holdings in PG&E by 8.2% during the 4th quarter. New York State Teachers Retirement System now owns 1,974,070 shares of the utilities provider’s stock worth $39,837,000 after buying an additional 148,860 shares during the last quarter. State Street Corp grew its position in shares of PG&E by 5.0% in the 3rd quarter. State Street Corp now owns 108,953,808 shares of the utilities provider’s stock worth $2,155,093,000 after acquiring an additional 5,191,463 shares in the last quarter. McElhenny Sheffield Capital Management LLC bought a new stake in shares of PG&E in the 4th quarter valued at approximately $514,000. Finally, Atria Wealth Solutions Inc. acquired a new stake in shares of PG&E during the 4th quarter valued at approximately $466,000. 78.56% of the stock is owned by institutional investors and hedge funds.

PG&E Stock Performance

PG&E stock opened at $17.20 on Friday. The stock has a fifty day moving average price of $16.17 and a 200 day moving average price of $18.81. PG&E has a 52 week low of $14.99 and a 52 week high of $21.72. The firm has a market capitalization of $45.93 billion, a P/E ratio of 14.95, a PEG ratio of 1.09 and a beta of 1.04. The company has a current ratio of 1.05, a quick ratio of 1.00 and a debt-to-equity ratio of 1.86.

PG&E (NYSE:PCG) last issued its quarterly earnings results on Thursday, February 13th. The utilities provider reported $0.31 EPS for the quarter, hitting the consensus estimate of $0.31. The firm had revenue of $6.63 billion during the quarter, compared to analyst estimates of $7.29 billion. PG&E had a net margin of 10.27% and a return on equity of 10.94%. During the same quarter in the prior year, the business posted $0.47 earnings per share. Equities research analysts anticipate that PG&E will post 1.49 earnings per share for the current year.

PG&E Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, April 15th. Investors of record on Monday, March 31st will be paid a dividend of $0.025 per share. This represents a $0.10 annualized dividend and a yield of 0.58%. The ex-dividend date is Monday, March 31st. PG&E’s dividend payout ratio (DPR) is 8.70%.

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.