UBS Group Boosts PG&E (NYSE:PCG) Price Target to $26.00

PG&E (NYSE:PCG) had its price objective boosted by UBS Group from $24.00 to $26.00 in a report issued on Tuesday, Benzinga reports. UBS Group currently has a buy rating on the utilities provider’s stock.

A number of other equities research analysts also recently issued reports on PCG. JPMorgan Chase & Co. upgraded shares of PG&E from a neutral rating to an overweight rating and increased their price objective for the stock from $19.00 to $22.00 in a research note on Monday, June 10th. Citigroup boosted their price objective on shares of PG&E from $19.00 to $21.00 and gave the company a buy rating in a research report on Friday, June 14th. Barclays raised their target price on PG&E from $22.00 to $23.00 and gave the company an overweight rating in a report on Tuesday, July 30th. Mizuho upped their price objective on PG&E from $21.00 to $23.00 and gave the stock a buy rating in a research report on Friday, May 17th. Finally, Wells Fargo & Company lifted their target price on PG&E from $21.00 to $22.00 and gave the company an overweight rating in a research report on Friday, July 26th. Three equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of Moderate Buy and a consensus target price of $21.20.

PG&E Stock Performance

Shares of NYSE:PCG opened at $20.60 on Tuesday. PG&E has a 12-month low of $14.71 and a 12-month high of $20.65. The company’s 50 day moving average price is $18.24 and its two-hundred day moving average price is $17.60. The firm has a market cap of $53.86 billion, a PE ratio of 18.39 and a beta of 1.01. The company has a quick ratio of 0.86, a current ratio of 0.90 and a debt-to-equity ratio of 1.99.

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

Insider Transactions at PG&E

In other PG&E news, VP Stephanie N. Williams sold 38,601 shares of the company’s stock in a transaction that occurred on Thursday, August 15th. The shares were sold at an average price of $18.32, for a total value of $707,170.32. Following the completion of the transaction, the vice president now directly owns 19,114 shares in the company, valued at approximately $350,168.48. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Company insiders own 0.15% of the company’s stock.

Hedge Funds Weigh In On PG&E

Hedge funds have recently made changes to their positions in the stock. Wells Fargo & Company MN lifted its holdings in PG&E by 19.1% in the fourth quarter. Wells Fargo & Company MN now owns 1,136,587 shares of the utilities provider’s stock valued at $20,493,000 after buying an additional 182,279 shares during the period. Crestline Management LP lifted its stake in shares of PG&E by 46.6% in the 4th quarter. Crestline Management LP now owns 578,241 shares of the utilities provider’s stock valued at $10,426,000 after purchasing an additional 183,767 shares during the period. Jupiter Asset Management Ltd. bought a new stake in shares of PG&E during the 1st quarter valued at about $2,153,000. Dai ichi Life Insurance Company Ltd grew its stake in PG&E by 379.0% during the fourth quarter. Dai ichi Life Insurance Company Ltd now owns 76,494 shares of the utilities provider’s stock worth $1,379,000 after purchasing an additional 60,525 shares during the period. Finally, Hsbc Holdings PLC increased its holdings in PG&E by 24.7% in the fourth quarter. Hsbc Holdings PLC now owns 2,868,488 shares of the utilities provider’s stock worth $51,680,000 after purchasing an additional 567,929 shares in the last quarter. 78.56% of the stock is currently 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.