PG&E Co. (NYSE:PCG) Receives $22.05 Average PT from Brokerages

Shares of PG&E Co. (NYSE:PCG) have been assigned an average recommendation of “Moderate Buy” from the twelve ratings firms that are currently covering the stock, MarketBeat Ratings reports. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and nine have issued a buy rating on the company. The average 1 year price target among brokerages that have issued a report on the stock in the last year is $22.05.

Several equities analysts have recently weighed in on PCG shares. Morgan Stanley increased their price objective on shares of PG&E from $16.50 to $17.50 and gave the stock an “underweight” rating in a research note on Thursday. Mizuho increased their price objective on shares of PG&E from $24.00 to $26.00 and gave the stock an “outperform” rating in a research note on Wednesday, November 27th. Guggenheim cut shares of PG&E from a “buy” rating to a “neutral” rating in a research note on Tuesday, February 18th. JPMorgan Chase & Co. reiterated an “overweight” rating and issued a $22.00 price objective on shares of PG&E in a research note on Wednesday, February 12th. Finally, Barclays lowered their price objective on shares of PG&E from $24.00 to $23.00 and set an “overweight” rating on the stock in a research note on Monday, January 27th.

Insider Buying and Selling at PG&E

In related news, Director Arno Lockheart Harris acquired 6,389 shares of PG&E stock in a transaction dated 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 completion of the transaction, the director now directly owns 14,864 shares in the company, valued at approximately $232,770.24. This represents a 75.39 % increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Carla J. Peterman sold 32,521 shares of PG&E stock in a transaction that occurred on Tuesday, March 4th. The shares were sold at an average price of $16.37, for a total transaction of $532,368.77. Following the sale, the executive vice president now owns 183,635 shares in the company, valued at approximately $3,006,104.95. The trade was a 15.05 % decrease in their position. The disclosure for this sale can be found here. Insiders own 0.15% of the company’s stock.

Institutional Investors Weigh In On PG&E

Institutional investors and hedge funds have recently modified their holdings of the stock. Versant Capital Management Inc raised its position in shares of PG&E by 68.3% during the fourth quarter. Versant Capital Management Inc now owns 1,543 shares of the utilities provider’s stock valued at $31,000 after buying an additional 626 shares during the last quarter. True Wealth Design LLC increased its position in PG&E by 1,233.6% in the fourth quarter. True Wealth Design LLC now owns 1,827 shares of the utilities provider’s stock worth $37,000 after purchasing an additional 1,690 shares during the last quarter. Colonial Trust Co SC increased its position in PG&E by 563.0% in the fourth quarter. Colonial Trust Co SC now owns 1,916 shares of the utilities provider’s stock worth $39,000 after purchasing an additional 1,627 shares during the last quarter. UMB Bank n.a. increased its position in PG&E by 61.5% in the fourth quarter. UMB Bank n.a. now owns 3,956 shares of the utilities provider’s stock worth $80,000 after purchasing an additional 1,506 shares during the last quarter. Finally, Optiver Holding B.V. increased its position in PG&E by 23.9% in the fourth quarter. Optiver Holding B.V. now owns 4,271 shares of the utilities provider’s stock worth $86,000 after purchasing an additional 825 shares during the last quarter. Institutional investors own 78.56% of the company’s stock.

PG&E Stock Performance

Shares of PCG stock opened at $16.91 on Friday. PG&E has a one year low of $14.99 and a one year high of $21.72. The company’s 50-day moving average is $16.16 and its 200 day moving average is $18.77. The company has a market capitalization of $45.16 billion, a price-to-earnings ratio of 14.70, a price-to-earnings-growth ratio of 1.09 and a beta of 1.04. The company has a debt-to-equity ratio of 1.86, a quick ratio of 1.00 and a current ratio of 1.05.

PG&E (NYSE:PCG) last posted its earnings results on Thursday, February 13th. The utilities provider reported $0.31 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.31. The business had revenue of $6.63 billion for the quarter, compared to analysts’ expectations of $7.29 billion. PG&E had a net margin of 10.27% and a return on equity of 10.94%. During the same quarter in the prior year, the business earned $0.47 EPS. Sell-side analysts expect that PG&E will post 1.49 EPS for the current fiscal year.

PG&E Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, April 15th. Shareholders of record on Monday, March 31st will be issued a dividend of $0.025 per share. This represents a $0.10 annualized dividend and a yield of 0.59%. The ex-dividend date is Monday, March 31st. PG&E’s dividend payout ratio is currently 8.70%.

About PG&E

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.