UBS Group Issues Pessimistic Forecast for PG&E (NYSE:PCG) Stock Price

PG&E (NYSE:PCG) had its price objective dropped by UBS Group from $24.00 to $22.00 in a note issued to investors on Thursday,Benzinga reports. The brokerage presently has a “buy” rating on the utilities provider’s stock. UBS Group’s target price indicates a potential upside of 40.55% from the company’s current price.

A number of other analysts have also recently weighed in on PCG. Barclays cut their price target on PG&E from $24.00 to $23.00 and set an “overweight” rating on the stock in a research note on Monday, January 27th. Jefferies Financial Group initiated coverage on PG&E in a research note on Monday, October 14th. They issued a “buy” rating and a $24.00 price target on the stock. Mizuho raised their price target on PG&E from $24.00 to $26.00 and gave the company an “outperform” rating in a research note on Wednesday, November 27th. Finally, BMO Capital Markets initiated coverage on PG&E in a research note on Monday, January 13th. They issued an “outperform” rating and a $21.00 price target on the stock. Two analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $22.36.

PG&E Trading Down 0.2 %

Shares of PG&E stock opened at $15.65 on Thursday. The firm has a market capitalization of $40.94 billion, a price-to-earnings ratio of 12.23, a PEG ratio of 1.10 and a beta of 0.98. PG&E has a fifty-two week low of $15.32 and a fifty-two week high of $21.72. 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 stock has a 50 day moving average of $19.02 and a 200 day moving average of $19.37.

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

Insider Activity

In other news, CEO Patricia K. Poppe sold 55,555 shares of PG&E stock in a transaction that occurred on Monday, December 2nd. The shares were sold at an average price of $20.66, for a total transaction of $1,147,766.30. Following the completion of the sale, the chief executive officer now directly owns 1,460,222 shares in the company, valued at approximately $30,168,186.52. This trade represents a 3.67 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 0.15% of the company’s stock.

Institutional Investors Weigh In On PG&E

Hedge funds and other institutional investors have recently modified their holdings of the stock. Global Retirement Partners LLC lifted its stake in PG&E by 30.7% in the 4th quarter. Global Retirement Partners LLC now owns 11,992 shares of the utilities provider’s stock valued at $242,000 after buying an additional 2,815 shares in the last quarter. Atria Wealth Solutions Inc. purchased a new stake in PG&E in the 4th quarter valued at approximately $466,000. D.A. Davidson & CO. purchased a new stake in PG&E in the 4th quarter valued at approximately $205,000. Truist Financial Corp lifted its stake in PG&E by 131.9% in the 4th quarter. Truist Financial Corp now owns 79,994 shares of the utilities provider’s stock valued at $1,614,000 after buying an additional 45,504 shares in the last quarter. Finally, CIBC Asset Management Inc lifted its stake in PG&E by 6.4% in the 4th quarter. CIBC Asset Management Inc now owns 331,470 shares of the utilities provider’s stock valued at $6,689,000 after buying an additional 20,031 shares in the last quarter. 78.56% of the stock is currently owned by institutional investors and hedge funds.

PG&E Company Profile

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.