PG&E (NYSE:PCG) PT Raised to $21.00

PG&E (NYSE:PCG) had its target price hoisted by Citigroup from $19.00 to $21.00 in a research note published on Friday, Benzinga reports. They currently have a buy rating on the utilities provider’s stock.

A number of other research firms also recently issued reports on PCG. Barclays boosted their price target on PG&E from $21.00 to $22.00 and gave the company an overweight rating in a research note on Wednesday, June 5th. Mizuho upped their target price on shares of PG&E from $21.00 to $23.00 and gave the company a buy rating in a report on Friday, May 17th. Morgan Stanley increased their price target on shares of PG&E from $16.00 to $18.00 and gave the stock an equal weight rating in a research report on Tuesday, May 28th. The Goldman Sachs Group assumed coverage on shares of PG&E in a research report on Wednesday, April 10th. They set a buy rating and a $21.00 price objective for the company. Finally, JPMorgan Chase & Co. raised PG&E from a neutral rating to an overweight rating and raised their target price for the stock from $19.00 to $22.00 in a report on Monday, June 10th. Three equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of Moderate Buy and an average target price of $20.22.

PG&E Trading Down 2.5 %

Shares of PCG stock opened at $17.79 on Friday. The company has a current ratio of 0.99, a quick ratio of 0.93 and a debt-to-equity ratio of 2.08. PG&E has a 12-month low of $14.71 and a 12-month high of $18.95. The stock has a market capitalization of $51.22 billion, a P/E ratio of 15.88 and a beta of 1.19. The firm’s 50 day moving average is $17.72 and its 200 day moving average is $17.24.

PG&E (NYSE:PCG) last released its quarterly earnings results on Thursday, April 25th. The utilities provider reported $0.37 earnings per share for the quarter, beating the consensus estimate of $0.35 by $0.02. PG&E had a return on equity of 11.32% and a net margin of 10.05%. The firm had revenue of $5.86 billion for the quarter, compared to analysts’ expectations of $6.60 billion. During the same period in the prior year, the firm earned $0.29 EPS. The company’s revenue was down 5.6% compared to the same quarter last year. Research analysts expect that PG&E will post 1.35 earnings per share for the current year.

PG&E Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, July 15th. Investors of record on Friday, June 28th will be paid a dividend of $0.01 per share. This represents a $0.04 dividend on an annualized basis and a dividend yield of 0.22%. The ex-dividend date of this dividend is Friday, June 28th. PG&E’s dividend payout ratio (DPR) is 3.57%.

Insiders Place Their Bets

In other news, CEO Patricia K. Poppe sold 59,000 shares of the business’s stock in a transaction dated Tuesday, April 30th. The stock was sold at an average price of $17.08, for a total value of $1,007,720.00. Following the transaction, the chief executive officer now directly owns 1,515,777 shares in the company, valued at $25,889,471.16. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. 0.15% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On PG&E

A number of institutional investors have recently added to or reduced their stakes in the stock. Planned Solutions Inc. bought a new position in shares of PG&E during the fourth quarter worth $37,000. Vima LLC bought a new stake in PG&E in the 4th quarter valued at $41,000. CVA Family Office LLC purchased a new stake in PG&E in the 4th quarter worth $43,000. Pacific Capital Wealth Advisors Inc. bought a new position in shares of PG&E during the 4th quarter valued at about $47,000. Finally, Turtle Creek Wealth Advisors LLC purchased a new position in shares of PG&E during the fourth quarter valued at about $54,000. 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.