PG&E (NYSE:PCG) Stock Rating Lowered by UBS Group

PG&E (NYSE:PCG) was downgraded by equities researchers at UBS Group from a “buy” rating to a “neutral” rating in a research note issued on Wednesday,Finviz reports. They presently have a $19.00 price target on the utilities provider’s stock, down from their prior price target of $22.00. UBS Group’s target price suggests a potential upside of 10.50% from the stock’s current price.

A number of other equities research analysts have also commented on the company. JPMorgan Chase & Co. restated an “overweight” rating and set a $22.00 price target on shares of PG&E in a research report on Wednesday, February 12th. Morgan Stanley lowered PG&E from an “equal weight” rating to an “underweight” rating and decreased their price target for the stock from $20.00 to $16.50 in a research report on Friday, February 14th. Mizuho increased their price objective on PG&E from $24.00 to $26.00 and gave the company an “outperform” rating in a research report on Wednesday, November 27th. BMO Capital Markets increased their price objective on PG&E from $21.00 to $23.00 and gave the company an “outperform” rating in a research report on Tuesday, February 18th. Finally, Barclays decreased their price objective on PG&E from $24.00 to $23.00 and set an “overweight” rating on the stock in a research report on Monday, January 27th. One analyst has rated the stock with a sell rating, two have issued a hold rating and nine have issued a buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $21.95.

PG&E Trading Up 0.5 %

Shares of PCG opened at $17.20 on Wednesday. The stock has a market cap of $45.93 billion, a PE ratio of 14.95, a PEG ratio of 1.09 and a beta of 1.04. PG&E has a 1 year low of $14.99 and a 1 year high of $21.72. The stock has a 50 day simple moving average of $16.25 and a 200-day simple moving average of $18.83. The company has a current ratio of 1.05, a quick ratio of 1.00 and a debt-to-equity ratio of 1.86.

PG&E (NYSE:PCG) last released its quarterly earnings results on Thursday, February 13th. The utilities provider reported $0.31 EPS for the quarter, hitting analysts’ consensus estimates of $0.31. The business had revenue of $6.63 billion for the quarter, compared to analyst estimates of $7.29 billion. PG&E had a return on equity of 10.94% and a net margin of 10.27%. During the same period in the prior year, the company earned $0.47 EPS. On average, sell-side analysts predict that PG&E will post 1.49 EPS for the current fiscal year.

Insider Activity at PG&E

In other PG&E news, Director Arno Lockheart Harris bought 6,389 shares of the business’s stock in a transaction on Thursday, February 20th. The stock was purchased 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 directly owns 14,864 shares of the company’s stock, valued at approximately $232,770.24. This trade represents a 75.39 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which is available through the SEC website. Also, EVP Carla J. Peterman sold 32,521 shares of the company’s stock in a transaction on Tuesday, March 4th. The stock was sold at an average price of $16.37, for a total value of $532,368.77. Following the sale, the executive vice president now owns 183,635 shares of the company’s stock, valued at $3,006,104.95. The trade was 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 company insiders.

Institutional Investors Weigh In On PG&E

Several institutional investors and hedge funds have recently added to or reduced their stakes in the business. Wealth Enhancement Advisory Services LLC lifted its stake in PG&E by 35.4% during the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 106,585 shares of the utilities provider’s stock worth $2,151,000 after purchasing an additional 27,873 shares during the last quarter. Lansforsakringar Fondforvaltning AB publ bought a new stake in PG&E during the fourth quarter worth $13,140,000. Mackenzie Financial Corp lifted its stake in PG&E by 22.6% during the fourth quarter. Mackenzie Financial Corp now owns 1,703,979 shares of the utilities provider’s stock worth $34,386,000 after purchasing an additional 314,119 shares during the last quarter. Castlekeep Investment Advisors LLC bought a new stake in PG&E during the fourth quarter worth $253,000. Finally, GF Fund Management CO. LTD. bought a new stake in PG&E during the fourth quarter worth $6,823,000. 78.56% of the stock is currently owned by institutional investors.

PG&E Company Profile

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.