PG&E (NYSE:PCG) Given New $23.00 Price Target at BMO Capital Markets

PG&E (NYSE:PCG) had its price target hoisted by BMO Capital Markets from $21.00 to $23.00 in a research report sent to investors on Tuesday,Benzinga reports. The brokerage currently has an outperform rating on the utilities provider’s stock.

Other equities analysts have also recently issued research reports about the stock. UBS Group reduced their price objective on shares of PG&E from $24.00 to $22.00 and set a “buy” rating for the company in a research note on Thursday, January 30th. Morgan Stanley lowered shares of PG&E from an “equal weight” rating to an “underweight” rating and decreased their price target for the stock from $20.00 to $16.50 in a report on Friday, February 14th. Guggenheim downgraded PG&E from a “buy” rating to a “neutral” rating in a research report on Tuesday. JPMorgan Chase & Co. reiterated an “overweight” rating and set a $22.00 price target on shares of PG&E in a research report on Wednesday, February 12th. Finally, Barclays reduced their target price on shares of PG&E from $24.00 to $23.00 and set an “overweight” rating on the stock in a report on Monday, January 27th. One equities research analyst has rated the stock with a sell rating, one has given a hold rating and ten have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $22.23.

PG&E Trading Up 0.7 %

NYSE:PCG opened at $15.40 on Tuesday. PG&E has a 12 month low of $14.99 and a 12 month high of $21.72. The company has a current ratio of 1.04, a quick ratio of 0.99 and a debt-to-equity ratio of 2.02. The firm’s 50 day moving average is $17.83 and its 200 day moving average is $19.18. The stock has a market capitalization of $40.29 billion, a PE ratio of 12.03, a price-to-earnings-growth ratio of 1.09 and a beta of 0.99.

PG&E (NYSE:PCG) last issued its quarterly earnings results on Thursday, February 13th. The utilities provider reported $0.31 EPS for the quarter, meeting analysts’ consensus estimates of $0.31. The firm had revenue of $6.63 billion for the quarter, compared to analysts’ expectations of $7.29 billion. PG&E had a return on equity of 12.51% and a net margin of 11.11%. During the same quarter in the prior year, the firm earned $0.47 EPS. Sell-side analysts expect that PG&E will post 1.36 earnings per share for the current year.

Insider Buying and Selling

In related news, CEO Patricia K. Poppe sold 55,555 shares of PG&E stock in a transaction that occurred on Monday, December 2nd. The stock was sold at an average price of $20.66, for a total transaction of $1,147,766.30. Following the sale, the chief executive officer now directly owns 1,460,222 shares in the company, valued at $30,168,186.52. The trade was a 3.67 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 0.15% of the stock is currently owned by insiders.

Institutional Trading of PG&E

Hedge funds have recently modified their holdings of the business. Versant Capital Management Inc grew its stake in shares of PG&E by 68.3% in the 4th quarter. Versant Capital Management Inc now owns 1,543 shares of the utilities provider’s stock worth $31,000 after buying an additional 626 shares during the last quarter. True Wealth Design LLC boosted its stake in PG&E by 1,233.6% in the 4th quarter. True Wealth Design LLC now owns 1,827 shares of the utilities provider’s stock worth $37,000 after purchasing an additional 1,690 shares in the last quarter. Colonial Trust Co SC lifted its stake in shares of PG&E by 563.0% in the fourth quarter. Colonial Trust Co SC now owns 1,916 shares of the utilities provider’s stock worth $39,000 after buying an additional 1,627 shares in the last quarter. UMB Bank n.a. increased its position in shares of PG&E by 61.5% during the fourth quarter. UMB Bank n.a. now owns 3,956 shares of the utilities provider’s stock valued at $80,000 after acquiring an additional 1,506 shares in the last quarter. Finally, Blue Trust Inc. raised its holdings in PG&E by 77.7% in the 3rd quarter. Blue Trust Inc. now owns 4,195 shares of the utilities provider’s stock worth $83,000 after acquiring an additional 1,834 shares during the last quarter. Institutional investors own 78.56% of the company’s stock.

About PG&E

PG&E Corp. operates as a holding company, which engages in generation, transmission, and distribution of electricity and natural gas to customers. It specializes in energy, utility, power, gas, electricity, solar and sustainability. The company was founded in 1995 and is headquartered in Oakland, CA.