PG&E (NYSE:PCG) Price Target Increased to $21.00 by Analysts at Barclays

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

A number of other equities analysts have also issued reports on the stock. The Goldman Sachs Group began coverage on shares of PG&E in a research report on Wednesday, April 10th. They issued a buy rating and a $21.00 target price for the company. StockNews.com upgraded shares of PG&E from a sell rating to a hold rating in a research report on Thursday, February 1st. Finally, JPMorgan Chase & Co. increased their target price on shares of PG&E from $18.00 to $19.00 and gave the company a neutral rating in a research report on Tuesday. Four research analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of Moderate Buy and a consensus price target of $19.11.

PG&E Stock Down 0.2 %

PG&E stock opened at $17.03 on Friday. The company has a 50-day simple moving average of $16.58 and a 200-day simple moving average of $16.89. The firm has a market capitalization of $36.39 billion, a P/E ratio of 15.21 and a beta of 1.32. The company has a debt-to-equity ratio of 2.04, a quick ratio of 0.78 and a current ratio of 0.83. PG&E has a one year low of $14.71 and a one year high of $18.32.

PG&E (NYSE:PCG) last released its quarterly earnings results on Thursday, April 25th. The utilities provider reported $0.37 EPS for the quarter, topping the consensus estimate of $0.35 by $0.02. The business had revenue of $5.86 billion during the quarter, compared to analyst estimates of $6.60 billion. PG&E had a net margin of 10.05% and a return on equity of 11.48%. The company’s quarterly revenue was down 5.6% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.29 earnings per share. As a group, equities analysts expect that PG&E will post 1.35 earnings per share for the current year.

PG&E Dividend Announcement

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

Institutional Investors Weigh In On PG&E

Institutional investors and hedge funds have recently bought and sold shares of the business. First Trust Direct Indexing L.P. boosted its holdings in shares of PG&E by 13.8% in the third quarter. First Trust Direct Indexing L.P. now owns 27,142 shares of the utilities provider’s stock worth $438,000 after buying an additional 3,299 shares during the period. Artemis Investment Management LLP boosted its holdings in shares of PG&E by 6.2% in the fourth quarter. Artemis Investment Management LLP now owns 7,598,807 shares of the utilities provider’s stock worth $137,009,000 after buying an additional 446,848 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank boosted its holdings in shares of PG&E by 9.0% in the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 922,856 shares of the utilities provider’s stock worth $16,639,000 after buying an additional 76,178 shares during the period. LPL Financial LLC boosted its holdings in shares of PG&E by 8.9% in the third quarter. LPL Financial LLC now owns 1,987,389 shares of the utilities provider’s stock worth $32,057,000 after buying an additional 162,476 shares during the period. Finally, Mackenzie Financial Corp boosted its holdings in shares of PG&E by 78.7% in the third quarter. Mackenzie Financial Corp now owns 654,687 shares of the utilities provider’s stock worth $10,036,000 after buying an additional 288,280 shares during the period. 78.56% of the stock is owned by institutional investors and hedge funds.

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.