UBS Group Lowers PG&E (NYSE:PCG) Price Target to $22.00

PG&E (NYSE:PCGFree Report) had its target price lowered by UBS Group from $24.00 to $22.00 in a research note issued to investors on Thursday morning,Benzinga reports. UBS Group currently has a buy rating on the utilities provider’s stock.

A number of other equities analysts have also issued reports on PCG. Jefferies Financial Group began coverage on shares of PG&E in a research report on Monday, October 14th. They set a “buy” rating and a $24.00 target price on the stock. 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 report on Monday. BMO Capital Markets initiated coverage on shares of PG&E in a report on Monday, January 13th. They issued an “outperform” rating and a $21.00 target price for the company. Finally, Mizuho raised their price target on PG&E from $24.00 to $26.00 and gave the stock an “outperform” rating in a report on Wednesday, November 27th. Two equities research analysts have rated the stock with a hold rating and ten have given a buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $22.36.

Get Our Latest Analysis on PG&E

PG&E Price Performance

Shares of PCG opened at $15.68 on Thursday. The firm has a fifty day moving average price of $19.24 and a 200 day moving average price of $19.41. The stock has a market cap of $40.99 billion, a PE ratio of 12.25, a price-to-earnings-growth ratio of 1.10 and a beta of 0.98. PG&E has a 1-year low of $15.52 and a 1-year high of $21.72. The company has a debt-to-equity ratio of 2.02, a current ratio of 1.04 and a quick ratio of 0.99.

PG&E (NYSE:PCGGet Free Report) last posted its earnings results on Thursday, November 7th. The utilities provider reported $0.37 earnings per share for the quarter, beating the consensus estimate of $0.32 by $0.05. The business had revenue of $5.94 billion during the quarter, compared to the consensus estimate of $6.58 billion. PG&E had a return on equity of 12.51% and a net margin of 11.11%. The business’s quarterly revenue was up .9% on a year-over-year basis. During the same period in the previous year, the business earned $0.24 EPS. As a group, sell-side analysts anticipate that PG&E will post 1.36 EPS for the current year.

PG&E Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, January 15th. Shareholders of record on Tuesday, December 31st were issued a $0.025 dividend. This represents a $0.10 dividend on an annualized basis and a yield of 0.64%. The ex-dividend date of this dividend was Tuesday, December 31st. This is a positive change from PG&E’s previous quarterly dividend of $0.01. PG&E’s payout ratio is currently 7.81%.

Insiders Place Their Bets

In related news, CEO Patricia K. Poppe sold 55,555 shares of PG&E stock in a transaction that occurred on Monday, December 2nd. The stock was sold at an average price of $20.66, for a total value of $1,147,766.30. Following the sale, the chief executive officer now directly owns 1,460,222 shares in the company, valued at $30,168,186.52. The trade was a 3.67 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 0.15% of the stock is currently owned by insiders.

Institutional Investors Weigh In On PG&E

Institutional investors have recently made changes to their positions in the stock. Allworth Financial LP lifted its stake in shares of PG&E by 1.0% in the fourth quarter. Allworth Financial LP now owns 271,743 shares of the utilities provider’s stock valued at $5,484,000 after purchasing an additional 2,715 shares during the period. Principal Securities Inc. increased its holdings in PG&E by 66.3% in the fourth quarter. Principal Securities Inc. now owns 22,594 shares of the utilities provider’s stock valued at $456,000 after buying an additional 9,009 shares in the last quarter. Rhumbline Advisers lifted its position in shares of PG&E by 5.7% during the 4th quarter. Rhumbline Advisers now owns 4,248,558 shares of the utilities provider’s stock valued at $85,736,000 after acquiring an additional 228,099 shares during the period. New York State Teachers Retirement System boosted its stake in shares of PG&E by 8.2% during the 4th quarter. New York State Teachers Retirement System now owns 1,974,070 shares of the utilities provider’s stock worth $39,837,000 after acquiring an additional 148,860 shares in the last quarter. Finally, V Square Quantitative Management LLC grew its holdings in shares of PG&E by 11.9% in the 4th quarter. V Square Quantitative Management LLC now owns 14,837 shares of the utilities provider’s stock worth $299,000 after acquiring an additional 1,583 shares during the period. 78.56% of the stock is currently owned by hedge funds and other institutional investors.

PG&E Company Profile

(Get Free Report)

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.

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