PG&E Co. (NYSE:PCG) Receives $22.80 Consensus PT from Brokerages

PG&E Co. (NYSE:PCG) has been assigned an average recommendation of “Moderate Buy” from the ten research firms that are presently covering the company, Marketbeat.com reports. One investment analyst has rated the stock with a hold rating and nine have given a buy rating to the company. The average 12-month target price among analysts that have updated their coverage on the stock in the last year is $22.80.

PCG has been the topic of several analyst reports. Bank of America started coverage on PG&E in a report on Thursday, September 12th. They issued a “buy” rating and a $24.00 price objective on the stock. Jefferies Financial Group assumed coverage on shares of PG&E in a research report on Monday, October 14th. They issued a “buy” rating and a $24.00 target price on the stock. UBS Group boosted their target price on PG&E from $24.00 to $26.00 and gave the stock a “buy” rating in a report on Tuesday, September 3rd. Barclays boosted their price objective on shares of PG&E from $24.00 to $25.00 and gave the stock an “overweight” rating in a report on Monday, October 21st. Finally, Wells Fargo & Company raised their price target on shares of PG&E from $21.00 to $22.00 and gave the company an “overweight” rating in a report on Friday, July 26th.

PG&E Trading Up 0.0 %

Shares of PCG opened at $21.05 on Friday. PG&E has a twelve month low of $15.94 and a twelve month high of $21.51. The business’s 50-day moving average price is $20.12 and its 200-day moving average price is $18.90. The company has a quick ratio of 0.99, a current ratio of 1.04 and a debt-to-equity ratio of 2.02. The stock has a market cap of $55.05 billion, a PE ratio of 16.42, a P/E/G ratio of 1.62 and a beta of 1.03.

PG&E (NYSE:PCG) last issued its quarterly earnings results on Thursday, November 7th. The utilities provider reported $0.37 earnings per share (EPS) 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 firm had revenue of $5.94 billion during the quarter, compared to analyst estimates of $6.58 billion. During the same quarter in the previous year, the company posted $0.24 earnings per share. The company’s revenue was up .9% compared to the same quarter last year. On average, equities analysts forecast that PG&E will post 1.36 EPS for the current fiscal year.

PG&E Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, October 15th. Investors of record on Monday, September 30th were given a $0.01 dividend. This represents a $0.04 annualized dividend and a yield of 0.19%. The ex-dividend date of this dividend was Monday, September 30th. PG&E’s dividend payout ratio is presently 3.13%.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of the company. TD Private Client Wealth LLC boosted its holdings in PG&E by 34.5% during the 3rd quarter. TD Private Client Wealth LLC now owns 35,255 shares of the utilities provider’s stock valued at $697,000 after acquiring an additional 9,043 shares during the period. Teachers Retirement System of The State of Kentucky grew its position in shares of PG&E by 2.7% during the 3rd quarter. Teachers Retirement System of The State of Kentucky now owns 525,447 shares of the utilities provider’s stock worth $10,388,000 after buying an additional 13,817 shares in the last quarter. Toronto Dominion Bank increased its stake in shares of PG&E by 18.4% during the third quarter. Toronto Dominion Bank now owns 1,254,717 shares of the utilities provider’s stock valued at $24,806,000 after buying an additional 194,704 shares during the period. Coldstream Capital Management Inc. purchased a new stake in PG&E in the third quarter worth about $241,000. Finally, Geode Capital Management LLC grew its holdings in PG&E by 1.1% during the 3rd quarter. Geode Capital Management LLC now owns 49,837,059 shares of the utilities provider’s stock worth $981,960,000 after acquiring an additional 536,914 shares in the last quarter. 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.