Mizuho Increases PG&E (NYSE:PCG) Price Target to $26.00

PG&E (NYSE:PCG) had its target price boosted by equities research analysts at Mizuho from $24.00 to $26.00 in a research report issued to clients and investors on Wednesday,Benzinga reports. The brokerage presently has an “outperform” rating on the utilities provider’s stock. Mizuho’s price target would indicate a potential upside of 20.20% from the company’s current price.

Other equities research analysts have also issued reports about the company. Jefferies Financial Group initiated coverage on PG&E in a research report on Monday, October 14th. They issued a “buy” rating and a $24.00 price target for the company. Bank of America started coverage on PG&E in a research note on Thursday, September 12th. They issued a “buy” rating and a $24.00 target price for the company. UBS Group boosted their price target on shares of PG&E from $24.00 to $26.00 and gave the company a “buy” rating in a research report on Tuesday, September 3rd. Morgan Stanley raised their price objective on shares of PG&E from $19.00 to $20.00 and gave the stock an “equal weight” rating in a research report on Wednesday, September 25th. Finally, Barclays boosted their target price on shares of PG&E from $24.00 to $25.00 and gave the company an “overweight” rating in a report on Monday, October 21st. Two analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $23.10.

PG&E Stock Up 0.6 %

NYSE PCG opened at $21.63 on Wednesday. The business has a fifty day moving average price of $20.41 and a 200 day moving average price of $19.10. The company has a debt-to-equity ratio of 2.02, a quick ratio of 0.99 and a current ratio of 1.04. The company has a market cap of $56.57 billion, a P/E ratio of 16.90, a P/E/G ratio of 1.63 and a beta of 1.03. PG&E has a one year low of $15.94 and a one year high of $21.72.

PG&E (NYSE:PCG) last issued its earnings results on Thursday, November 7th. The utilities provider reported $0.37 EPS for the quarter, beating analysts’ consensus estimates of $0.32 by $0.05. The business had revenue of $5.94 billion during the quarter, compared to analysts’ expectations of $6.58 billion. PG&E had a net margin of 11.11% and a return on equity of 12.51%. The company’s quarterly revenue was up .9% compared to the same quarter last year. During the same period in the prior year, the business earned $0.24 earnings per share. Research analysts anticipate that PG&E will post 1.36 EPS for the current fiscal year.

Institutional Trading of PG&E

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. Tokio Marine Asset Management Co. Ltd. raised its holdings in shares of PG&E by 259.6% in the 3rd quarter. Tokio Marine Asset Management Co. Ltd. now owns 61,850 shares of the utilities provider’s stock valued at $1,223,000 after buying an additional 44,650 shares during the period. Scientech Research LLC acquired a new position in PG&E in the 2nd quarter valued at about $1,122,000. Allspring Global Investments Holdings LLC increased its stake in PG&E by 808.5% during the second quarter. Allspring Global Investments Holdings LLC now owns 1,243,020 shares of the utilities provider’s stock worth $21,703,000 after purchasing an additional 1,106,200 shares during the period. Van ECK Associates Corp lifted its position in shares of PG&E by 23.7% during the second quarter. Van ECK Associates Corp now owns 1,387,786 shares of the utilities provider’s stock worth $24,230,000 after purchasing an additional 265,694 shares in the last quarter. Finally, Creative Planning boosted its stake in shares of PG&E by 39.6% in the second quarter. Creative Planning now owns 111,358 shares of the utilities provider’s stock valued at $1,944,000 after purchasing an additional 31,573 shares during the period. 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.