BMO Capital Markets Lowers PG&E (NYSE:PCG) Price Target to $22.00

PG&E (NYSE:PCG) had its target price decreased by BMO Capital Markets from $23.00 to $22.00 in a research report issued on Monday,Benzinga reports. The brokerage currently has an “outperform” rating on the utilities provider’s stock. BMO Capital Markets’ price objective would suggest a potential upside of 28.24% from the company’s current price.

Other analysts have also issued research reports about the company. Barclays lowered their price target on PG&E from $23.00 to $22.00 and set an “overweight” rating for the company in a report on Wednesday, April 9th. UBS Group downgraded PG&E from a “buy” rating to a “neutral” rating and dropped their price target for the stock from $22.00 to $19.00 in a research report on Wednesday, March 19th. Morgan Stanley lifted their price objective on PG&E from $16.50 to $17.50 and gave the company an “underweight” rating in a report on Thursday, March 20th. Guggenheim lowered shares of PG&E from a “buy” rating to a “neutral” rating in a research note on Tuesday, February 18th. Finally, JPMorgan Chase & Co. reissued an “overweight” rating and set a $22.00 target price on shares of PG&E in a research report on Wednesday, February 12th. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and eight have given a buy rating to the company’s stock. Based on data from MarketBeat, PG&E has a consensus rating of “Moderate Buy” and an average price target of $21.95.

PG&E Stock Up 0.6 %

Shares of NYSE:PCG opened at $17.16 on Monday. The company has a 50-day moving average price of $16.41 and a 200 day moving average price of $18.39. The company has a current ratio of 1.05, a quick ratio of 1.00 and a debt-to-equity ratio of 1.86. PG&E has a 12 month low of $14.99 and a 12 month high of $21.72. The company has a market cap of $45.83 billion, a price-to-earnings ratio of 14.92, a PEG ratio of 1.09 and a beta of 0.70.

PG&E (NYSE:PCG) last released its quarterly earnings results on Thursday, February 13th. The utilities provider reported $0.31 earnings per share for the quarter, meeting the consensus estimate of $0.31. The company had revenue of $6.63 billion for the quarter, compared to analyst estimates of $7.29 billion. PG&E had a return on equity of 10.94% and a net margin of 10.27%. During the same quarter in the prior year, the firm posted $0.47 EPS. As a group, equities research analysts predict that PG&E will post 1.49 earnings per share for the current year.

Insider Buying and Selling

In related news, EVP Carla J. Peterman sold 32,521 shares of the firm’s stock in a transaction on Tuesday, March 4th. The stock was sold at an average price of $16.37, for a total value of $532,368.77. Following the completion of the transaction, the executive vice president now owns 183,635 shares in the company, valued at $3,006,104.95. This trade represents a 15.05 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Arno Lockheart Harris purchased 6,389 shares of the company’s stock in a transaction on Thursday, February 20th. The shares were purchased at an average price of $15.66 per share, for a total transaction of $100,051.74. Following the purchase, the director now owns 14,864 shares in the company, valued at approximately $232,770.24. The trade was a 75.39 % increase in their position. The disclosure for this purchase can be found here. 0.15% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the company. CX Institutional increased its holdings in PG&E by 35.1% in the 1st quarter. CX Institutional now owns 13,971 shares of the utilities provider’s stock worth $240,000 after buying an additional 3,629 shares during the period. Assenagon Asset Management S.A. increased its stake in shares of PG&E by 14.8% in the first quarter. Assenagon Asset Management S.A. now owns 37,756 shares of the utilities provider’s stock worth $649,000 after acquiring an additional 4,880 shares during the period. SG Americas Securities LLC raised its holdings in shares of PG&E by 1,341.9% during the first quarter. SG Americas Securities LLC now owns 1,354,312 shares of the utilities provider’s stock worth $23,267,000 after purchasing an additional 1,260,387 shares during the last quarter. Harbor Capital Advisors Inc. acquired a new position in PG&E during the first quarter valued at $942,000. Finally, Pallas Capital Advisors LLC lifted its position in PG&E by 506.4% during the first quarter. Pallas Capital Advisors LLC now owns 109,633 shares of the utilities provider’s stock valued at $1,883,000 after purchasing an additional 91,553 shares during the period. 78.56% of the stock is currently owned by hedge funds and other institutional investors.

PG&E Company Profile

PG&E Corp. operates as a holding company, which engages in generation, transmission, and distribution of electricity and natural gas to customers. It specializes in energy, utility, power, gas, electricity, solar and sustainability. The company was founded in 1995 and is headquartered in Oakland, CA.