PG&E (NYSE:PCG) Price Target Cut to $24.00 by Analysts at Barclays

PG&E (NYSE:PCG) had its target price reduced by Barclays from $25.00 to $24.00 in a research report report published on Tuesday morning,Benzinga reports. They currently have an overweight rating on the utilities provider’s stock.

Other equities analysts also recently issued reports about the company. Mizuho increased their target price on PG&E from $24.00 to $26.00 and gave the company an “outperform” rating in a research report on Wednesday, November 27th. Morgan Stanley lifted their target price on shares of PG&E from $19.00 to $20.00 and gave the stock an “equal weight” rating in a research report on Wednesday, September 25th. UBS Group upped their price target on shares of PG&E from $24.00 to $26.00 and gave the company a “buy” rating in a research report on Tuesday, September 3rd. Bank of America assumed coverage on shares of PG&E in a report on Thursday, September 12th. They set a “buy” rating and a $24.00 price target on the stock. Finally, Jefferies Financial Group assumed coverage on PG&E in a report on Monday, October 14th. They issued a “buy” rating and a $24.00 price objective for the company. Two investment analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $23.00.

PG&E Trading Up 0.6 %

PCG opened at $19.71 on Tuesday. The company has a market cap of $51.55 billion, a P/E ratio of 15.40, a PEG ratio of 1.51 and a beta of 1.01. The company has a current ratio of 1.04, a quick ratio of 0.99 and a debt-to-equity ratio of 2.02. The company’s 50 day moving average is $20.52 and its 200-day moving average is $19.27. PG&E has a 1-year low of $15.94 and a 1-year high of $21.72.

PG&E (NYSE:PCG) last issued its earnings results on Thursday, November 7th. The utilities provider reported $0.37 earnings per share for the quarter, beating analysts’ consensus estimates of $0.32 by $0.05. PG&E had a net margin of 11.11% and a return on equity of 12.51%. The firm had revenue of $5.94 billion for the quarter, compared to analyst estimates of $6.58 billion. During the same quarter last year, the business posted $0.24 earnings per share. The company’s quarterly revenue was up .9% on a year-over-year basis. Equities research analysts predict that PG&E will post 1.36 earnings per share for the current fiscal year.

PG&E Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 15th. Stockholders of record on Tuesday, December 31st will be given a $0.025 dividend. The ex-dividend date of this dividend is Tuesday, December 31st. This is a positive change from PG&E’s previous quarterly dividend of $0.01. This represents a $0.10 annualized dividend and a dividend yield of 0.51%. PG&E’s dividend payout ratio (DPR) is 3.13%.

Insider Activity

In other PG&E news, CEO Patricia K. Poppe sold 55,555 shares of PG&E stock in a transaction that occurred on Monday, December 2nd. The stock was sold at an average price of $20.66, for a total value of $1,147,766.30. Following the completion of the sale, the chief executive officer now directly owns 1,460,222 shares in the company, valued at approximately $30,168,186.52. The trade was a 3.67 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 0.15% of the stock is owned by company insiders.

Institutional Trading of PG&E

Several large investors have recently modified their holdings of the stock. Rothschild Investment LLC bought a new position in PG&E during the second quarter worth $30,000. UMB Bank n.a. raised 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 period. Blue Trust Inc. boosted its position in shares of PG&E by 77.0% during the 2nd quarter. Blue Trust Inc. now owns 2,361 shares of the utilities provider’s stock worth $40,000 after purchasing an additional 1,027 shares in the last quarter. Plato Investment Management Ltd acquired a new stake in shares of PG&E in the 2nd quarter valued at about $44,000. Finally, Crewe Advisors LLC increased its position in PG&E by 243.0% in the 2nd quarter. Crewe Advisors LLC now owns 4,041 shares of the utilities provider’s stock valued at $71,000 after buying an additional 2,863 shares in the last quarter. Institutional investors and hedge funds own 78.56% of the company’s stock.

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.