PG&E (NYSE:PCG) Given New $21.00 Price Target at Barclays

PG&E (NYSE:PCG) had its price target raised by Barclays from $20.00 to $21.00 in a report released on Friday, Benzinga reports. Barclays currently has an overweight rating on the utilities provider’s stock.

Several other brokerages have also commented on PCG. JPMorgan Chase & Co. boosted their price target on PG&E from $18.00 to $19.00 and gave the company a neutral rating in a research note on Tuesday, April 23rd. StockNews.com raised PG&E from a sell rating to a hold rating in a research note on Thursday, February 1st. Finally, The Goldman Sachs Group started coverage on PG&E in a research note on Wednesday, April 10th. They issued a buy rating and a $21.00 price target on the stock. Four research analysts have rated the stock with a hold rating and four have given a buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of Moderate Buy and an average target price of $19.11.

PG&E Price Performance

Shares of NYSE:PCG opened at $17.03 on Friday. PG&E has a 1-year low of $14.71 and a 1-year high of $18.32. The firm has a market capitalization of $36.39 billion, a PE ratio of 15.21 and a beta of 1.32. The business’s 50 day moving average is $16.58 and its 200-day moving average is $16.90. The company has a current ratio of 0.99, a quick ratio of 0.93 and a debt-to-equity ratio of 2.08.

PG&E (NYSE:PCG) last announced its quarterly earnings data on Thursday, April 25th. The utilities provider reported $0.37 earnings per share for the quarter, topping the consensus estimate of $0.35 by $0.02. PG&E had a return on equity of 11.32% and a net margin of 10.05%. The company had revenue of $5.86 billion for the quarter, compared to analyst estimates of $6.60 billion. During the same quarter last year, the firm earned $0.29 EPS. PG&E’s revenue for the quarter was down 5.6% compared to the same quarter last year. Sell-side analysts predict that PG&E will post 1.35 earnings per share for the current year.

PG&E Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, April 15th. Shareholders of record on Thursday, March 28th were paid a $0.01 dividend. This represents a $0.04 dividend on an annualized basis and a yield of 0.23%. The ex-dividend date of this dividend was Wednesday, March 27th. PG&E’s dividend payout ratio is currently 3.57%.

Hedge Funds Weigh In On PG&E

A number of institutional investors and hedge funds have recently bought and sold shares of PCG. Planned Solutions Inc. acquired a new position in PG&E in the fourth quarter worth $37,000. Vima LLC bought a new stake in shares of PG&E during the fourth quarter worth $41,000. CVA Family Office LLC bought a new stake in shares of PG&E during the fourth quarter worth $43,000. Millburn Ridgefield Corp bought a new stake in shares of PG&E during the third quarter worth $44,000. Finally, Catalyst Capital Advisors LLC bought a new stake in shares of PG&E during the third quarter worth $44,000. Institutional investors and hedge funds own 78.56% of the company’s stock.

About PG&E

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.