PG&E (NYSE:PCG) Price Target Raised to $21.00

PG&E (NYSE:PCG) had its price target hoisted by stock analysts at Mizuho from $20.00 to $21.00 in a note issued to investors on Monday,Benzinga reports. The brokerage presently has an “outperform” rating on the utilities provider’s stock. Mizuho’s price target suggests a potential upside of 18.31% from the company’s previous close.

Several other analysts have also recently commented on PCG. Morgan Stanley reiterated an “underweight” rating on shares of PG&E in a research note on Wednesday, April 23rd. Barclays reduced their price objective on shares of PG&E from $23.00 to $22.00 and set an “overweight” rating for the company in a research note on Wednesday, April 9th. UBS Group cut shares of PG&E from a “buy” rating to a “neutral” rating and reduced their price objective for the company from $22.00 to $19.00 in a research note on Wednesday, March 19th. JPMorgan Chase & Co. restated an “overweight” rating and set a $22.00 target price on shares of PG&E in a research report on Wednesday, February 12th. Finally, Wells Fargo & Company restated an “overweight” rating and set a $24.00 target price on shares of PG&E in a research report on Friday, April 25th. One research analyst has rated the stock with a sell rating, three have issued a hold rating and eight have given a buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $20.71.

PG&E Stock Up 0.1%

PCG stock opened at $17.75 on Monday. PG&E has a one year low of $14.99 and a one year high of $21.72. The stock has a market capitalization of $47.49 billion, a PE ratio of 15.43, a price-to-earnings-growth ratio of 1.09 and a beta of 0.63. The company has a debt-to-equity ratio of 1.86, a quick ratio of 1.00 and a current ratio of 1.05. The company has a fifty day moving average of $17.06 and a 200-day moving average of $17.89.

PG&E (NYSE:PCG) last released its earnings results on Thursday, April 24th. The utilities provider reported $0.33 EPS for the quarter, missing analysts’ consensus estimates of $0.35 by ($0.02). PG&E had a net margin of 10.27% and a return on equity of 10.94%. The business had revenue of $5.98 billion during the quarter, compared to analyst estimates of $6.23 billion. During the same period last year, the business posted $0.37 EPS. PG&E’s revenue was up 2.1% compared to the same quarter last year. As a group, analysts expect that PG&E will post 1.49 EPS for the current year.

Insiders Place Their Bets

In other news, Director Arno Lockheart Harris bought 6,389 shares of the firm’s stock in a transaction dated Thursday, February 20th. The stock was acquired at an average cost of $15.66 per share, for a total transaction of $100,051.74. Following the completion of the purchase, the director now owns 14,864 shares of the company’s stock, valued at $232,770.24. This trade represents a 75.39% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Carla J. Peterman sold 32,521 shares of the company’s stock in a transaction on Tuesday, March 4th. The shares were sold at an average price of $16.37, for a total transaction of $532,368.77. Following the completion of the transaction, the executive vice president now owns 183,635 shares of the company’s stock, valued at $3,006,104.95. This trade represents a 15.05% decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.15% of the stock is owned by insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in PCG. Costello Asset Management INC acquired a new stake in PG&E in the first quarter valued at $31,000. True Wealth Design LLC raised its holdings in PG&E by 1,233.6% in the fourth quarter. True Wealth Design LLC now owns 1,827 shares of the utilities provider’s stock valued at $37,000 after acquiring an additional 1,690 shares in the last quarter. Deseret Mutual Benefit Administrators raised its holdings in PG&E by 45.0% in the first quarter. Deseret Mutual Benefit Administrators now owns 2,173 shares of the utilities provider’s stock valued at $37,000 after acquiring an additional 674 shares in the last quarter. Colonial Trust Co SC raised its holdings in PG&E by 563.0% in the fourth quarter. Colonial Trust Co SC now owns 1,916 shares of the utilities provider’s stock valued at $39,000 after acquiring an additional 1,627 shares in the last quarter. Finally, Safe Harbor Fiduciary LLC acquired a new stake in PG&E in the first quarter valued at $39,000. 78.56% of the stock is currently owned by hedge funds and other institutional investors.

About PG&E

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.