PG&E (NYSE:PCG) Price Target Raised to $26.00 at Mizuho

PG&E (NYSE:PCG) had its price objective hoisted by Mizuho from $24.00 to $26.00 in a report issued on Wednesday,Benzinga reports. Mizuho currently has an outperform rating on the utilities provider’s stock.

A number of other research analysts have also commented on the stock. Morgan Stanley upped their price target on shares of PG&E from $19.00 to $20.00 and gave the company an “equal weight” rating in a research note on Wednesday, September 25th. Jefferies Financial Group began coverage on PG&E in a research note on Monday, October 14th. They set a “buy” rating and a $24.00 target price on the stock. Bank of America began coverage on PG&E in a research note on Thursday, September 12th. They issued a “buy” rating and a $24.00 price target for the company. UBS Group increased their price objective on PG&E from $24.00 to $26.00 and gave the stock a “buy” rating in a research report on Tuesday, September 3rd. Finally, Barclays boosted their target price on shares of PG&E from $24.00 to $25.00 and gave the company an “overweight” rating in a research report on Monday, October 21st. Two equities research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $23.10.

PG&E Stock Performance

PCG opened at $21.63 on Wednesday. The company has a quick ratio of 0.99, a current ratio of 1.04 and a debt-to-equity ratio of 2.02. PG&E has a 12-month low of $15.94 and a 12-month high of $21.72. The business has a 50 day moving average of $20.33 and a 200-day moving average of $19.07. The stock has a market cap of $56.57 billion, a price-to-earnings ratio of 16.90, a PEG ratio of 1.63 and a beta of 1.03.

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

PG&E Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, October 15th. Stockholders of record on Monday, September 30th were given a $0.01 dividend. This represents a $0.04 annualized dividend and a dividend yield of 0.18%. The ex-dividend date of this dividend was Monday, September 30th. PG&E’s payout ratio is presently 3.13%.

Institutional Trading of PG&E

Several large investors have recently made changes to their positions in PCG. Rothschild Investment LLC acquired a new position in PG&E during the second quarter valued at approximately $30,000. UMB Bank n.a. lifted its position in shares of PG&E by 84.7% during the 2nd quarter. UMB Bank n.a. now owns 2,204 shares of the utilities provider’s stock worth $38,000 after buying an additional 1,011 shares during the last quarter. Blue Trust Inc. boosted its stake in PG&E by 77.0% in the second quarter. Blue Trust Inc. now owns 2,361 shares of the utilities provider’s stock valued at $40,000 after buying an additional 1,027 shares in the last quarter. Plato Investment Management Ltd bought a new position in PG&E in the second quarter valued at about $44,000. Finally, Massmutual Trust Co. FSB ADV raised its stake in PG&E by 48.8% during the second quarter. Massmutual Trust Co. FSB ADV now owns 3,596 shares of the utilities provider’s stock worth $63,000 after acquiring an additional 1,179 shares in the last quarter. Institutional investors and hedge funds own 78.56% of the company’s stock.

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.