PG&E (NYSE:PCG) Now Covered by Jefferies Financial Group

Research analysts at Jefferies Financial Group initiated coverage on shares of PG&E (NYSE:PCG) in a research report issued on Monday, MarketBeat Ratings reports. The brokerage set a “buy” rating and a $24.00 price target on the utilities provider’s stock. Jefferies Financial Group’s price objective suggests a potential upside of 17.53% from the stock’s current price.

Other equities research analysts have also issued reports about the company. Bank of America initiated coverage on PG&E in a research report on Thursday, September 12th. They issued a “buy” rating and a $24.00 price target for the company. Morgan Stanley upped their price objective on PG&E from $19.00 to $20.00 and gave the company an “equal weight” rating in a report on Wednesday, September 25th. Barclays upped their price objective on PG&E from $22.00 to $23.00 and gave the company an “overweight” rating in a report on Tuesday, July 30th. UBS Group upped their price objective on PG&E from $24.00 to $26.00 and gave the company a “buy” rating in a report on Tuesday, September 3rd. Finally, Wells Fargo & Company upped their price objective on PG&E from $21.00 to $22.00 and gave the company an “overweight” rating in a report on Friday, July 26th. Three equities research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $22.00.

PG&E Price Performance

PCG stock opened at $20.42 on Monday. The company has a debt-to-equity ratio of 1.99, a current ratio of 0.90 and a quick ratio of 0.86. The business has a 50 day simple moving average of $19.41 and a 200-day simple moving average of $18.29. The firm has a market capitalization of $58.79 billion, a PE ratio of 18.23, a price-to-earnings-growth ratio of 1.50 and a beta of 1.01. PG&E has a 1 year low of $15.59 and a 1 year high of $20.65.

PG&E (NYSE:PCG) last posted its quarterly earnings results on Thursday, July 25th. The utilities provider reported $0.31 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.30 by $0.01. The business had revenue of $5.99 billion during the quarter, compared to analyst estimates of $5.86 billion. PG&E had a return on equity of 11.76% and a net margin of 10.22%. The business’s revenue was up 13.2% compared to the same quarter last year. During the same period in the prior year, the business earned $0.23 earnings per share. Equities research analysts anticipate that PG&E will post 1.36 earnings per share for the current fiscal year.

Insider Transactions at PG&E

In other news, VP Stephanie N. Williams sold 38,601 shares of the company’s stock in a transaction on Thursday, August 15th. The stock was sold at an average price of $18.32, for a total transaction of $707,170.32. Following the sale, the vice president now owns 19,114 shares of the company’s stock, valued at approximately $350,168.48. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 0.15% of the company’s stock.

Institutional Trading of PG&E

Large investors have recently modified their holdings of the stock. Rothschild Investment LLC purchased a new stake in shares of PG&E during the second quarter worth $30,000. UMB Bank n.a. increased its holdings in PG&E by 84.7% in the second quarter. UMB Bank n.a. now owns 2,204 shares of the utilities provider’s stock valued at $38,000 after buying an additional 1,011 shares during the last quarter. Blue Trust Inc. increased its holdings in PG&E by 77.0% in the second quarter. Blue Trust Inc. now owns 2,361 shares of the utilities provider’s stock valued at $40,000 after buying an additional 1,027 shares during the last quarter. Plato Investment Management Ltd purchased a new position in PG&E in the second quarter valued at $44,000. Finally, Massmutual Trust Co. FSB ADV increased its holdings in PG&E by 48.8% in the second quarter. Massmutual Trust Co. FSB ADV now owns 3,596 shares of the utilities provider’s stock valued at $63,000 after buying an additional 1,179 shares during the last quarter. Hedge funds and other institutional investors own 78.56% of the company’s stock.

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.