Brokerages Set PG&E Co. (NYSE:PCG) PT at $20.67

Shares of PG&E Co. (NYSE:PCG) have received a consensus rating of “Moderate Buy” from the nine research firms that are presently covering the firm, MarketBeat reports. Two research analysts have rated the stock with a hold rating and seven have issued a buy rating on the company. The average twelve-month price target among brokerages that have updated their coverage on the stock in the last year is $21.20.

Several equities research analysts have issued reports on the company. Barclays raised their price target on PG&E from $22.00 to $23.00 and gave the stock an “overweight” rating in a research report on Tuesday, July 30th. UBS Group raised their target price on shares of PG&E from $24.00 to $26.00 and gave the stock a “buy” rating in a report on Tuesday. Wells Fargo & Company upped their price target on shares of PG&E from $21.00 to $22.00 and gave the company an “overweight” rating in a report on Friday, July 26th. Mizuho increased their price objective on shares of PG&E from $21.00 to $23.00 and gave the stock a “buy” rating in a research report on Friday, May 17th. Finally, Citigroup boosted their price objective on shares of PG&E from $19.00 to $21.00 and gave the company a “buy” rating in a research report on Friday, June 14th.

Insider Activity at PG&E

In other PG&E news, VP Stephanie N. Williams sold 38,601 shares of the business’s stock in a transaction dated Thursday, August 15th. The shares were sold at an average price of $18.32, for a total transaction of $707,170.32. Following the sale, the vice president now directly owns 19,114 shares of the company’s stock, valued at approximately $350,168.48. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. 0.15% of the stock is owned by insiders.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in the stock. Vanguard Group Inc. grew its stake in shares of PG&E by 2.0% in the first quarter. Vanguard Group Inc. now owns 282,332,215 shares of the utilities provider’s stock valued at $4,731,888,000 after buying an additional 5,635,693 shares in the last quarter. JPMorgan Chase & Co. grew its position in shares of PG&E by 1.8% in the 1st quarter. JPMorgan Chase & Co. now owns 126,126,581 shares of the utilities provider’s stock valued at $2,113,882,000 after acquiring an additional 2,176,931 shares during the period. Capital International Investors increased its stake in shares of PG&E by 4.4% during the 1st quarter. Capital International Investors now owns 121,159,974 shares of the utilities provider’s stock worth $2,030,641,000 after purchasing an additional 5,066,183 shares during the last quarter. King Street Capital Management L.P. bought a new stake in shares of PG&E in the 2nd quarter valued at about $1,964,250,000. Finally, Massachusetts Financial Services Co. MA raised its holdings in shares of PG&E by 17.3% in the 2nd quarter. Massachusetts Financial Services Co. MA now owns 101,910,190 shares of the utilities provider’s stock valued at $1,779,352,000 after purchasing an additional 14,998,472 shares during the period. Institutional investors and hedge funds own 78.56% of the company’s stock.

PG&E Stock Up 2.5 %

Shares of NYSE PCG opened at $20.43 on Monday. PG&E has a 52-week low of $14.71 and a 52-week high of $20.53. The company has a debt-to-equity ratio of 1.99, a quick ratio of 0.86 and a current ratio of 0.90. The stock has a market cap of $53.43 billion, a P/E ratio of 18.24 and a beta of 1.01. The firm has a 50 day moving average price of $18.24 and a 200 day moving average price of $17.60.

PG&E (NYSE:PCG) last announced its quarterly earnings results on Thursday, July 25th. The utilities provider reported $0.31 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.30 by $0.01. The company had revenue of $5.99 billion during the quarter, compared to analyst estimates of $5.86 billion. PG&E had a net margin of 10.22% and a return on equity of 11.76%. The firm’s revenue was up 13.2% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.23 EPS. Analysts expect that PG&E will post 1.35 EPS for the current year.

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.