PG&E (NYSE:PCG) Given New $22.00 Price Target at Barclays

PG&E (NYSE:PCGFree Report) had its price objective upped by Barclays from $21.00 to $22.00 in a research note released on Wednesday morning, Benzinga reports. The firm currently has an overweight rating on the utilities provider’s stock.

Several other research analysts have also recently issued reports on the company. JPMorgan Chase & Co. increased their price objective on PG&E from $18.00 to $19.00 and gave the stock a neutral rating in a research report on Tuesday, April 23rd. The Goldman Sachs Group initiated coverage on PG&E in a report on Wednesday, April 10th. They issued a buy rating and a $21.00 target price on the stock. Morgan Stanley upped their target price on PG&E from $16.00 to $18.00 and gave the company an equal weight rating in a report on Tuesday, May 28th. Finally, Mizuho upped their target price on PG&E from $21.00 to $23.00 and gave the company a buy rating in a report on Friday, May 17th. Four equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of Moderate Buy and an average price target of $19.88.

Read Our Latest Analysis on PCG

PG&E Trading Down 0.5 %

NYSE:PCG opened at $18.22 on Wednesday. The stock has a fifty day moving average price of $17.48 and a two-hundred day moving average price of $17.21. The stock has a market capitalization of $52.46 billion, a price-to-earnings ratio of 16.27 and a beta of 1.19. The company has a debt-to-equity ratio of 2.08, a quick ratio of 0.93 and a current ratio of 0.99. PG&E has a 1 year low of $14.71 and a 1 year high of $18.95.

PG&E (NYSE:PCGGet Free Report) last released its quarterly earnings data on Thursday, April 25th. The utilities provider reported $0.37 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.35 by $0.02. The firm had revenue of $5.86 billion during the quarter, compared to analysts’ expectations of $6.60 billion. PG&E had a return on equity of 11.32% and a net margin of 10.05%. PG&E’s revenue was down 5.6% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.29 earnings per share. As a group, sell-side analysts anticipate that PG&E will post 1.35 earnings per share for the current fiscal year.

PG&E Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, July 15th. Investors of record on Friday, June 28th will be paid a dividend of $0.01 per share. This represents a $0.04 dividend on an annualized basis and a dividend yield of 0.22%. The ex-dividend date is Friday, June 28th. PG&E’s payout ratio is currently 3.57%.

Insider Activity at PG&E

In related news, CEO Patricia K. Poppe sold 59,000 shares of the stock in a transaction on Tuesday, April 30th. The stock was sold at an average price of $17.08, for a total transaction of $1,007,720.00. Following the sale, the chief executive officer now owns 1,515,777 shares of the company’s stock, valued at $25,889,471.16. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Corporate insiders own 0.15% of the company’s stock.

Institutional Trading of PG&E

A number of hedge funds have recently added to or reduced their stakes in the business. Teachers Retirement System of The State of Kentucky boosted its stake in PG&E by 78.7% in the 1st quarter. Teachers Retirement System of The State of Kentucky now owns 546,053 shares of the utilities provider’s stock worth $9,152,000 after buying an additional 240,479 shares during the last quarter. Cetera Advisors LLC acquired a new stake in PG&E in the 1st quarter worth about $503,000. Beck Bode LLC acquired a new stake in PG&E in the 1st quarter worth about $9,861,000. Pacific Center for Financial Services raised its holdings in shares of PG&E by 29.3% in the 1st quarter. Pacific Center for Financial Services now owns 4,648 shares of the utilities provider’s stock worth $78,000 after purchasing an additional 1,052 shares during the period. Finally, Tidal Investments LLC raised its holdings in shares of PG&E by 8.9% in the 1st quarter. Tidal Investments LLC now owns 94,222 shares of the utilities provider’s stock worth $1,579,000 after purchasing an additional 7,703 shares during the period. 78.56% of the stock is owned by institutional investors and hedge funds.

About PG&E

(Get Free Report)

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.

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Analyst Recommendations for PG&E (NYSE:PCG)

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