Analysts Set PG&E Co. (PCG) Price Target at $51.22

Shares of PG&E Co. (NYSE:PCG) have received a consensus recommendation of “Hold” from the seventeen ratings firms that are presently covering the stock, MarketBeat Ratings reports. One research analyst has rated the stock with a sell rating, nine have given a hold rating and seven have issued a buy rating on the company. The average 12-month target price among brokerages that have updated their coverage on the stock in the last year is $52.70.

A number of research analysts have recently issued reports on PCG shares. UBS Group raised their price target on shares of PG&E from $45.00 to $47.00 and gave the stock a “neutral” rating in a research report on Tuesday, May 29th. Bank of America restated a “hold” rating and issued a $46.00 price target on shares of PG&E in a research report on Tuesday, May 29th. Morgan Stanley set a $62.00 price target on shares of PG&E and gave the stock a “buy” rating in a research report on Tuesday, May 29th. JPMorgan Chase & Co. raised their price target on shares of PG&E from $50.00 to $52.00 and gave the stock an “overweight” rating in a research report on Friday, June 1st. Finally, Wells Fargo & Co reduced their price target on shares of PG&E from $48.00 to $46.00 and set a “hold” rating on the stock in a research report on Monday, June 11th.

Shares of PG&E stock traded down $0.68 during trading hours on Wednesday, reaching $45.16. The company’s stock had a trading volume of 5,433,400 shares, compared to its average volume of 5,630,664. The company has a debt-to-equity ratio of 0.92, a quick ratio of 0.60 and a current ratio of 0.65. PG&E has a one year low of $37.30 and a one year high of $69.67. The company has a market cap of $23.93 billion, a P/E ratio of 12.36, a PEG ratio of 3.49 and a beta of -0.07.

PG&E (NYSE:PCG) last posted its quarterly earnings results on Thursday, July 26th. The utilities provider reported $1.16 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.94 by $0.22. PG&E had a net margin of 0.80% and a return on equity of 10.20%. The company had revenue of $4.23 billion for the quarter, compared to the consensus estimate of $4.32 billion. During the same period last year, the firm posted $0.86 EPS. The company’s revenue for the quarter was down .4% on a year-over-year basis. sell-side analysts predict that PG&E will post 3.79 earnings per share for the current year.

In related news, COO Nickolas Stavropoulos sold 1,161 shares of the stock in a transaction dated Wednesday, August 22nd. The shares were sold at an average price of $44.79, for a total value of $52,001.19. Following the sale, the chief operating officer now owns 78,223 shares of the company’s stock, valued at approximately $3,503,608.17. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. 0.14% of the stock is owned by company insiders.

Several hedge funds have recently added to or reduced their stakes in the stock. BlackRock Inc. increased its holdings in shares of PG&E by 6.6% in the 2nd quarter. BlackRock Inc. now owns 47,850,122 shares of the utilities provider’s stock worth $2,036,500,000 after acquiring an additional 2,951,423 shares during the period. OppenheimerFunds Inc. increased its holdings in shares of PG&E by 2.3% in the 1st quarter. OppenheimerFunds Inc. now owns 5,367,501 shares of the utilities provider’s stock worth $235,794,000 after acquiring an additional 120,566 shares during the period. Wells Fargo & Company MN increased its holdings in shares of PG&E by 11.2% in the 2nd quarter. Wells Fargo & Company MN now owns 5,260,065 shares of the utilities provider’s stock worth $223,868,000 after acquiring an additional 527,892 shares during the period. Legal & General Group Plc increased its holdings in shares of PG&E by 0.8% in the 2nd quarter. Legal & General Group Plc now owns 4,799,269 shares of the utilities provider’s stock worth $204,254,000 after acquiring an additional 37,271 shares during the period. Finally, Abrams Capital Management L.P. increased its holdings in shares of PG&E by 20.3% in the 1st quarter. Abrams Capital Management L.P. now owns 3,911,357 shares of the utilities provider’s stock worth $171,826,000 after acquiring an additional 661,357 shares during the period. 81.40% of the stock is currently owned by institutional investors and hedge funds.

PG&E Company Profile

PG&E Corporation, through its subsidiary, Pacific Gas and Electric Company, engages in the sale and delivery of electricity and natural gas to residential, commercial, industrial, and agricultural customers in northern and central California, the United States. The company's electricity distribution network consists of approximately 107,200 circuit miles of distribution lines, 59 transmission switching substations, and 605 distribution substations; and electricity transmission network comprises approximately 19,200 circuit miles of interconnected transmission lines and 92 electric transmission substations.

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Analyst Recommendations for PG&E (NYSE:PCG)

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