PG&E Corp. Price Target Cut to $44.00 by Analysts at Barclays Capital (PCG)
Barclays Capital decreased their price target on shares of PG&E Corp. (NYSE:PCG) from $48.00 to $44.00 in a research note issued on Tuesday, AnalystRatings.Net reports. The firm currently has an “equal weight” rating on the stock. Barclays Capital’s target price would suggest a potential upside of 7.53% from the company’s current price.
Shares of PG&E Corp. (NYSE:PCG) traded up 0.12% on Tuesday, hitting $40.97. The stock had a trading volume of 1,512,240 shares. PG&E Corp. has a 1-year low of $39.40 and a 1-year high of $48.50. The stock has a 50-day moving average of $41.77 and a 200-day moving average of $44.73. The company has a market cap of $18.238 billion and a price-to-earnings ratio of 19.41.
PG&E Corp. (NYSE:PCG) last issued its quarterly earnings data on Wednesday, July 31st. The company reported $0.79 earnings per share for the quarter, beating the analysts’ consensus estimate of $0.71 by $0.08. The company had revenue of $3.78 billion for the quarter, compared to the consensus estimate of $3.90 billion. During the same quarter last year, the company posted $0.81 earnings per share. PG&E Corp.’s revenue was up 5.1% compared to the same quarter last year. On average, analysts predict that PG&E Corp. will post $2.64 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which is scheduled for Tuesday, October 15th. Stockholders of record on Monday, September 30th will be paid a dividend of $0.46 per share. This represents a $1.82 annualized dividend and a dividend yield of 4.45%. The ex-dividend date is Thursday, September 26th.
A number of other analysts have also recently weighed in on PCG. Analysts at Zacks reiterated a “neutral” rating on shares of PG&E Corp. (NYSE:PCG) in a research note to investors on Monday, September 23rd. They now have a $44.00 price target on the stock. Separately, analysts at Macquarie cut their price target on shares of PG&E Corp. (NYSE:PCG) from $45.00 to $43.00 in a research note to investors on Tuesday, September 3rd. They now have a “neutral” rating on the stock. Finally, analysts at Wolfe Research downgraded shares of PG&E Corp. (NYSE:PCG) from an “outperform” rating to a “market perform” rating in a research note to investors on Thursday, August 22nd. Nine analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. The company currently has an average rating of “Hold” and an average price target of $47.10.
PG&E Corporation is a holding company that conducts its business through Pacific Gas and Electric Company (NYSE:PCG).
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