PG&E (NYSE:PCG) Given New $19.00 Price Target at JPMorgan Chase & Co.

PG&E (NYSE:PCG) had its target price hoisted by JPMorgan Chase & Co. from $18.00 to $19.00 in a report issued on Tuesday morning, Benzinga reports. JPMorgan Chase & Co. currently has a neutral rating on the utilities provider’s stock.

Several other research firms have also recently commented on PCG. Barclays lowered their target price on PG&E from $20.00 to $19.00 and set an overweight rating for the company in a research note on Monday, January 22nd. The Goldman Sachs Group began coverage on PG&E in a research note on Wednesday, April 10th. They issued a buy rating and a $21.00 target price for the company. Finally, StockNews.com raised PG&E from a sell rating to a hold rating in a research note on Thursday, February 1st. Four analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. According to MarketBeat, the stock presently has an average rating of Moderate Buy and an average target price of $19.11.

PG&E Trading Down 0.2 %

PCG stock opened at $17.03 on Tuesday. The business has a fifty day moving average price of $16.58 and a 200 day moving average price of $16.89. The stock has a market capitalization of $36.39 billion, a price-to-earnings ratio of 16.22 and a beta of 1.32. PG&E has a fifty-two week low of $14.71 and a fifty-two week high of $18.32. The company has a debt-to-equity ratio of 2.04, a current ratio of 0.83 and a quick ratio of 0.78.

PG&E (NYSE:PCG) last released its earnings results on Thursday, April 25th. The utilities provider reported $0.37 EPS for the quarter, beating the consensus estimate of $0.35 by $0.02. The company had revenue of $5.86 billion during the quarter, compared to analysts’ expectations of $6.60 billion. PG&E had a return on equity of 10.84% and a net margin of 9.24%. The business’s revenue for the quarter was down 5.6% on a year-over-year basis. During the same period last year, the firm earned $0.29 EPS. Analysts expect that PG&E will post 1.35 EPS for the current fiscal year.

PG&E Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, April 15th. Shareholders of record on Thursday, March 28th were issued a dividend of $0.01 per share. The ex-dividend date of this dividend was Wednesday, March 27th. This represents a $0.04 annualized dividend and a yield of 0.23%. PG&E’s dividend payout ratio is presently 3.81%.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in PCG. Norges Bank bought a new position in PG&E during the fourth quarter worth about $394,285,000. Vanguard Group Inc. lifted its holdings in shares of PG&E by 8.8% in the third quarter. Vanguard Group Inc. now owns 268,407,694 shares of the utilities provider’s stock valued at $4,329,416,000 after purchasing an additional 21,731,911 shares in the last quarter. Massachusetts Financial Services Co. MA lifted its holdings in shares of PG&E by 27.8% in the third quarter. Massachusetts Financial Services Co. MA now owns 83,522,320 shares of the utilities provider’s stock valued at $1,347,215,000 after purchasing an additional 18,180,432 shares in the last quarter. Balyasny Asset Management L.P. bought a new stake in shares of PG&E in the fourth quarter valued at about $142,612,000. Finally, Capital International Investors lifted its holdings in shares of PG&E by 7.1% in the fourth quarter. Capital International Investors now owns 116,093,791 shares of the utilities provider’s stock valued at $2,093,198,000 after purchasing an additional 7,681,566 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.