PG&E (NYSE:PCG) PT Raised to $21.00 at Barclays

PG&E (NYSE:PCG) had its target price lifted by stock analysts at Barclays from $20.00 to $21.00 in a report issued on Friday, Benzinga reports. The brokerage currently has an “overweight” rating on the utilities provider’s stock. Barclays‘s target price points to a potential upside of 23.31% from the company’s previous close.

A number of other equities research analysts have also recently weighed in on PCG. The Goldman Sachs Group began coverage on PG&E in a research note on Wednesday, April 10th. They set a “buy” rating and a $21.00 price objective for the company. StockNews.com upgraded PG&E from a “sell” rating to a “hold” rating in a research note on Thursday, February 1st. Finally, JPMorgan Chase & Co. increased their price target on PG&E from $18.00 to $19.00 and gave the company a “neutral” rating in a research note on Tuesday, April 23rd. Four investment analysts have rated the stock with a hold rating and four have issued a buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $19.11.

PG&E Trading Down 0.2 %

Shares of NYSE PCG opened at $17.03 on Friday. The company has a debt-to-equity ratio of 2.04, a current ratio of 0.83 and a quick ratio of 0.78. The stock has a market capitalization of $36.39 billion, a P/E ratio of 15.21 and a beta of 1.32. PG&E has a 1-year low of $14.71 and a 1-year high of $18.32. The business has a fifty day moving average price of $16.58 and a 200 day moving average price of $16.90.

PG&E (NYSE:PCG) last issued its quarterly earnings data on Thursday, April 25th. The utilities provider reported $0.37 earnings per share for the quarter, topping analysts’ consensus estimates of $0.35 by $0.02. The firm 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 11.48% and a net margin of 10.05%. The firm’s quarterly revenue was down 5.6% on a year-over-year basis. During the same period in the prior year, the business posted $0.29 EPS. Equities research analysts expect that PG&E will post 1.35 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of PCG. Norges Bank acquired a new position in shares of PG&E in the fourth quarter valued at about $394,285,000. Vanguard Group Inc. grew its holdings in PG&E by 8.8% during the third quarter. Vanguard Group Inc. now owns 268,407,694 shares of the utilities provider’s stock worth $4,329,416,000 after acquiring an additional 21,731,911 shares during the period. Massachusetts Financial Services Co. MA grew its holdings in PG&E by 27.8% during the third quarter. Massachusetts Financial Services Co. MA now owns 83,522,320 shares of the utilities provider’s stock worth $1,347,215,000 after acquiring an additional 18,180,432 shares during the period. Balyasny Asset Management L.P. acquired a new stake in PG&E during the fourth quarter worth about $142,612,000. Finally, Capital International Investors grew its holdings in PG&E by 7.1% during the fourth quarter. Capital International Investors now owns 116,093,791 shares of the utilities provider’s stock worth $2,093,198,000 after acquiring an additional 7,681,566 shares during the period. 78.56% of the stock is owned by institutional investors and hedge funds.

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.