PG&E (NYSE:PCG) Given New $26.00 Price Target at UBS Group

PG&E (NYSE:PCG) had its target price upped by UBS Group from $24.00 to $26.00 in a research report report published on Tuesday morning, Benzinga reports. They currently have a buy rating on the utilities provider’s stock.

Several other equities analysts have also recently weighed in on the stock. Morgan Stanley raised their target price on shares of PG&E from $18.00 to $19.00 and gave the company an equal weight rating in a research note on Friday, August 23rd. Barclays lifted their price objective on shares of PG&E from $22.00 to $23.00 and gave the company an overweight rating in a research report on Tuesday, July 30th. 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. Citigroup lifted their price target on PG&E from $19.00 to $21.00 and gave the stock a buy rating in a report on Friday, June 14th. Finally, Wells Fargo & Company upped their price objective on PG&E from $21.00 to $22.00 and gave the company an overweight rating in a research note on Friday, July 26th. Three 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 presently has a consensus rating of Moderate Buy and an average target price of $21.20.

PG&E Price Performance

NYSE PCG opened at $20.08 on Tuesday. The firm’s 50 day moving average is $18.30 and its 200-day moving average is $17.62. The company has a quick ratio of 0.86, a current ratio of 0.90 and a debt-to-equity ratio of 1.99. The company has a market capitalization of $52.51 billion, a PE ratio of 17.93 and a beta of 1.01. PG&E has a 12-month low of $14.71 and a 12-month high of $20.65.

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

Insider Transactions at PG&E

In other news, VP Stephanie N. Williams sold 38,601 shares of PG&E stock in a transaction on 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 sale, the vice president now owns 19,114 shares of the company’s stock, valued at $350,168.48. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. 0.15% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in the business. Truist Financial Corp increased its stake in PG&E by 3.5% during the 4th quarter. Truist Financial Corp now owns 44,794 shares of the utilities provider’s stock worth $808,000 after acquiring an additional 1,528 shares during the period. Los Angeles Capital Management LLC acquired a new position in PG&E in the fourth quarter valued at about $183,000. Benjamin F. Edwards & Company Inc. acquired a new stake in PG&E during the fourth quarter worth about $86,000. Merit Financial Group LLC bought a new position in PG&E in the 4th quarter valued at about $362,000. Finally, Private Advisor Group LLC acquired a new position in shares of PG&E in the 4th quarter valued at approximately $231,000. 78.56% of the stock is owned by 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.