PG&E (NYSE:PCG) Coverage Initiated by Analysts at Jefferies Financial Group

Jefferies Financial Group assumed coverage on shares of PG&E (NYSE:PCG) in a research note published on Monday, Marketbeat reports. The firm issued a buy rating and a $24.00 target price on the utilities provider’s stock.

PCG has been the topic of several other reports. Bank of America began coverage on PG&E in a research note on Thursday, September 12th. They issued a buy rating and a $24.00 price objective on the stock. UBS Group lifted their price objective on PG&E from $24.00 to $26.00 and gave the company a buy rating in a research note on Tuesday, September 3rd. Wells Fargo & Company lifted their price objective on PG&E from $21.00 to $22.00 and gave the company an overweight rating in a research note on Friday, July 26th. Morgan Stanley lifted their price objective on PG&E from $19.00 to $20.00 and gave the company an equal weight rating in a research note on Wednesday, September 25th. Finally, Barclays lifted their price objective on PG&E from $22.00 to $23.00 and gave the company an overweight rating in a research note on Tuesday, July 30th. Three equities research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of Moderate Buy and an average price target of $22.00.

PG&E Trading Up 3.1 %

PG&E stock opened at $20.24 on Monday. The stock has a 50-day moving average price of $19.31 and a 200 day moving average price of $18.24. The company has a current ratio of 0.90, a quick ratio of 0.86 and a debt-to-equity ratio of 1.99. PG&E has a 52 week low of $15.59 and a 52 week high of $20.65. The stock has a market cap of $58.28 billion, a PE ratio of 18.07, a P/E/G ratio of 1.50 and a beta of 1.01.

PG&E (NYSE:PCG) last issued its quarterly earnings results on Thursday, July 25th. The utilities provider reported $0.31 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.30 by $0.01. PG&E had a return on equity of 11.76% and a net margin of 10.22%. The firm had revenue of $5.99 billion for the quarter, compared to analyst estimates of $5.86 billion. During the same period last year, the company earned $0.23 EPS. The firm’s quarterly revenue was up 13.2% on a year-over-year basis. Equities research analysts predict that PG&E will post 1.36 earnings per share for the current fiscal year.

PG&E Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, October 15th. Shareholders of record on Monday, September 30th will be given a $0.01 dividend. This represents a $0.04 annualized dividend and a yield of 0.20%. The ex-dividend date is Monday, September 30th. PG&E’s dividend payout ratio is presently 3.57%.

Insiders Place Their Bets

In other PG&E news, VP Stephanie N. Williams sold 38,601 shares of the stock in a transaction 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 sale, the vice president now directly owns 19,114 shares of the company’s stock, valued at $350,168.48. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 0.15% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the business. Rothschild Investment LLC bought a new position in shares of PG&E in the second quarter worth $30,000. UMB Bank n.a. grew 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 worth $38,000 after purchasing an additional 1,011 shares in the last quarter. Blue Trust Inc. grew its stake in shares of PG&E by 77.0% in the second quarter. Blue Trust Inc. now owns 2,361 shares of the utilities provider’s stock worth $40,000 after purchasing an additional 1,027 shares in the last quarter. Plato Investment Management Ltd bought a new position in shares of PG&E in the second quarter worth $44,000. Finally, Massmutual Trust Co. FSB ADV grew its stake in shares of PG&E by 48.8% in the second quarter. Massmutual Trust Co. FSB ADV now owns 3,596 shares of the utilities provider’s stock worth $63,000 after purchasing an additional 1,179 shares in the last quarter. Institutional investors own 78.56% of the company’s stock.

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.