PG&E Co. (NYSE:PCG) Receives $22.80 Consensus PT from Analysts

Shares of PG&E Co. (NYSE:PCG) have received an average recommendation of “Moderate Buy” from the ten ratings firms that are presently covering the stock, MarketBeat.com reports. One research analyst has rated the stock with a hold rating and nine have issued a buy rating on the company. The average twelve-month price objective among analysts that have covered the stock in the last year is $22.80.

Several brokerages recently weighed in on PCG. UBS Group cut their price objective on shares of PG&E from $26.00 to $24.00 and set a “buy” rating on the stock in a report on Thursday, December 19th. Mizuho increased their price target on PG&E from $24.00 to $26.00 and gave the company an “outperform” rating in a research note on Wednesday, November 27th. Barclays decreased their price objective on PG&E from $25.00 to $24.00 and set an “overweight” rating for the company in a research note on Tuesday, December 17th. Morgan Stanley increased their target price on PG&E from $19.00 to $20.00 and gave the company an “equal weight” rating in a research note on Wednesday, September 25th. Finally, Jefferies Financial Group started coverage on PG&E in a report on Monday, October 14th. They set a “buy” rating and a $24.00 target price on the stock.

Insider Transactions at PG&E

In related news, CEO Patricia K. Poppe sold 55,555 shares of the stock in a transaction that occurred on Monday, December 2nd. The stock was sold at an average price of $20.66, for a total transaction of $1,147,766.30. Following the completion of the transaction, the chief executive officer now directly owns 1,460,222 shares of the company’s stock, valued at approximately $30,168,186.52. This represents a 3.67 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Company insiders own 0.15% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the stock. State Street Corp grew its stake in shares of PG&E by 5.0% in the third quarter. State Street Corp now owns 108,953,808 shares of the utilities provider’s stock valued at $2,155,093,000 after buying an additional 5,191,463 shares in the last quarter. Tokio Marine Asset Management Co. Ltd. lifted its stake in PG&E by 259.6% in the third quarter. Tokio Marine Asset Management Co. Ltd. now owns 61,850 shares of the utilities provider’s stock valued at $1,223,000 after acquiring an additional 44,650 shares during the last quarter. Scientech Research LLC bought a new position in shares of PG&E in the 2nd quarter valued at about $1,122,000. Creative Planning increased its stake in shares of PG&E by 39.6% during the 2nd quarter. Creative Planning now owns 111,358 shares of the utilities provider’s stock worth $1,944,000 after purchasing an additional 31,573 shares during the last quarter. Finally, Czech National Bank raised its holdings in shares of PG&E by 6.9% in the 3rd quarter. Czech National Bank now owns 435,423 shares of the utilities provider’s stock valued at $8,608,000 after purchasing an additional 28,192 shares during the period. Institutional investors and hedge funds own 78.56% of the company’s stock.

PG&E Trading Down 10.6 %

PCG stock opened at $17.20 on Friday. 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 twelve month low of $15.94 and a twelve month high of $21.72. The company has a market cap of $44.98 billion, a P/E ratio of 13.44, a PEG ratio of 1.51 and a beta of 0.98. The business has a fifty day moving average of $20.35 and a 200-day moving average of $19.49.

PG&E (NYSE:PCG) last announced its quarterly earnings data on Thursday, November 7th. The utilities provider reported $0.37 earnings per share for the quarter, topping 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 firm had revenue of $5.94 billion during the quarter, compared to analysts’ expectations of $6.58 billion. The company’s quarterly revenue was up .9% compared to the same quarter last year. During the same period in the previous year, the business posted $0.24 EPS. As a group, equities research analysts expect that PG&E will post 1.36 EPS for the current year.

PG&E Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 15th. Stockholders of record on Tuesday, December 31st will be given a dividend of $0.025 per share. This is a boost from PG&E’s previous quarterly dividend of $0.01. This represents a $0.10 annualized dividend and a dividend yield of 0.58%. The ex-dividend date is Tuesday, December 31st. PG&E’s dividend payout ratio is currently 7.81%.

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.