UBS Group Increases PG&E (NYSE:PCG) Price Target to $26.00

PG&E (NYSE:PCG) had its target price increased by investment analysts at UBS Group from $24.00 to $26.00 in a research note issued on Tuesday, Benzinga reports. The brokerage currently has a “buy” rating on the utilities provider’s stock. UBS Group’s price objective would indicate a potential upside of 27.26% from the company’s current price.

Several other brokerages have also weighed in on PCG. Citigroup increased their target price on PG&E from $19.00 to $21.00 and gave the stock a “buy” rating in a research report on Friday, June 14th. Mizuho increased their price target on PG&E from $21.00 to $23.00 and gave the stock a “buy” rating in a research note on Friday, May 17th. Wells Fargo & Company increased their price target on PG&E from $21.00 to $22.00 and gave the stock an “overweight” rating in a research note on Friday, July 26th. Barclays increased their price target on PG&E from $22.00 to $23.00 and gave the stock an “overweight” rating in a research note on Tuesday, July 30th. Finally, Morgan Stanley increased their price target on PG&E from $18.00 to $19.00 and gave the stock an “equal weight” rating in a research note on Friday, August 23rd. Three research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. According to data from MarketBeat.com, PG&E has an average rating of “Moderate Buy” and a consensus target price of $21.20.

PG&E Price Performance

Shares of NYSE PCG opened at $20.43 on Tuesday. PG&E has a 1-year low of $14.71 and a 1-year high of $20.53. The company has a debt-to-equity ratio of 1.99, a current ratio of 0.90 and a quick ratio of 0.86. The business’s fifty day moving average price is $18.24 and its two-hundred day moving average price is $17.60. The firm has a market capitalization of $53.43 billion, a PE ratio of 18.24 and a beta of 1.01.

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

Insider Activity at PG&E

In related news, VP Stephanie N. Williams sold 38,601 shares of the firm’s stock in a transaction dated Thursday, August 15th. The stock was sold at an average price of $18.32, for a total transaction of $707,170.32. Following the completion of the transaction, the vice president now owns 19,114 shares of the company’s stock, valued at $350,168.48. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Company insiders own 0.15% of the company’s stock.

Institutional Investors Weigh In On PG&E

Several hedge funds have recently modified their holdings of PCG. Rothschild Investment LLC purchased a new stake in shares of PG&E during the second quarter valued at $30,000. UMB Bank n.a. lifted its holdings in shares of PG&E by 84.7% during the second quarter. UMB Bank n.a. now owns 2,204 shares of the utilities provider’s stock valued at $38,000 after purchasing an additional 1,011 shares during the last quarter. Blue Trust Inc. lifted its holdings in shares of PG&E by 77.0% during the second quarter. Blue Trust Inc. now owns 2,361 shares of the utilities provider’s stock valued at $40,000 after purchasing an additional 1,027 shares during the last quarter. Vima LLC purchased a new stake in shares of PG&E during the fourth quarter valued at $41,000. Finally, Plato Investment Management Ltd purchased a new stake in shares of PG&E during the second quarter valued at $44,000. 78.56% of the stock is owned by hedge funds and other institutional investors.

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.