PG&E Co. (NYSE:PCG) Given Consensus Recommendation of “Moderate Buy” by Brokerages

PG&E Co. (NYSE:PCG) has earned a consensus rating of “Moderate Buy” from the eleven analysts that are covering the company, MarketBeat Ratings reports. Two analysts have rated the stock with a hold recommendation and nine have issued a buy recommendation on the company. The average 12-month price target among analysts that have covered the stock in the last year is $22.18.

A number of brokerages have recently commented on PCG. Wells Fargo & Company lifted their price target on shares of PG&E from $21.00 to $22.00 and gave the stock an “overweight” rating in a report on Friday, July 26th. Barclays raised their target price on shares of PG&E from $24.00 to $25.00 and gave the company an “overweight” rating in a research note on Monday. Bank of America began coverage on shares of PG&E in a research report on Thursday, September 12th. They set a “buy” rating and a $24.00 price target for the company. Morgan Stanley raised their price objective on PG&E from $19.00 to $20.00 and gave the company an “equal weight” rating in a research report on Wednesday, September 25th. Finally, Jefferies Financial Group assumed coverage on PG&E in a research note on Monday, October 14th. They set a “buy” rating and a $24.00 price objective on the stock.

PG&E Price Performance

Shares of PCG opened at $20.35 on Tuesday. The company has a debt-to-equity ratio of 1.99, a quick ratio of 0.86 and a current ratio of 0.90. The company has a market capitalization of $58.59 billion, a price-to-earnings ratio of 18.17, a price-to-earnings-growth ratio of 1.55 and a beta of 1.01. The firm has a 50-day simple moving average of $19.59 and a 200-day simple moving average of $18.40. PG&E has a fifty-two week low of $15.59 and a fifty-two week high of $20.65.

PG&E (NYSE:PCG) last released its quarterly earnings data on Thursday, July 25th. The utilities provider reported $0.31 EPS for the quarter, topping analysts’ consensus estimates of $0.30 by $0.01. The firm had revenue of $5.99 billion for the quarter, compared to the consensus estimate of $5.86 billion. PG&E had a net margin of 10.22% and a return on equity of 11.76%. The firm’s revenue was up 13.2% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.23 earnings per share. On average, equities research analysts anticipate that PG&E will post 1.36 earnings per share for the current year.

PG&E Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, October 15th. Shareholders of record on Monday, September 30th were given a $0.01 dividend. This represents a $0.04 dividend on an annualized basis and a dividend yield of 0.20%. The ex-dividend date was Monday, September 30th. PG&E’s payout ratio is 3.57%.

Insider Transactions at PG&E

In related news, VP Stephanie N. Williams sold 38,601 shares of the company’s stock in a transaction on Thursday, August 15th. The shares were sold at an average price of $18.32, for a total value of $707,170.32. Following the sale, the vice president now directly owns 19,114 shares of the company’s stock, valued at $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 SEC, which is accessible through this link. Corporate insiders own 0.15% of the company’s stock.

Institutional Trading of PG&E

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