JPMorgan Chase & Co. Reiterates Overweight Rating for PG&E (NYSE:PCG)

PG&E (NYSE:PCG)‘s stock had its “overweight” rating reiterated by stock analysts at JPMorgan Chase & Co. in a research report issued to clients and investors on Wednesday,Benzinga reports. They currently have a $22.00 target price on the utilities provider’s stock. JPMorgan Chase & Co.‘s target price would indicate a potential upside of 39.98% from the company’s previous close.

A number of other analysts have also recently commented on the stock. Mizuho boosted their target price on shares of PG&E from $24.00 to $26.00 and gave the stock an “outperform” rating in a research note on Wednesday, November 27th. Barclays cut their price objective on PG&E from $24.00 to $23.00 and set an “overweight” rating for the company in a research note on Monday, January 27th. BMO Capital Markets initiated coverage on PG&E in a research report on Monday, January 13th. They issued an “outperform” rating and a $21.00 target price on the stock. Finally, UBS Group dropped their price target on PG&E from $24.00 to $22.00 and set a “buy” rating for the company in a research report on Thursday, January 30th. One investment analyst has rated the stock with a hold rating and ten have given a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $22.36.

PG&E Price Performance

PG&E stock traded down $0.06 during trading on Wednesday, reaching $15.72. The company had a trading volume of 1,706,286 shares, compared to its average volume of 28,247,410. 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 firm’s 50-day simple moving average is $18.31 and its 200 day simple moving average is $19.28. The firm has a market capitalization of $41.10 billion, a PE ratio of 12.28, a price-to-earnings-growth ratio of 1.09 and a beta of 0.99. PG&E has a 1-year low of $14.99 and a 1-year high of $21.72.

Insider Activity

In other news, CEO Patricia K. Poppe sold 55,555 shares of the business’s 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 owns 1,460,222 shares in the company, valued at approximately $30,168,186.52. The trade was a 3.67 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Company insiders own 0.15% of the company’s stock.

Hedge Funds Weigh In On PG&E

Several large investors have recently bought and sold shares of PCG. Vanguard Group Inc. boosted its stake in shares of PG&E by 2.5% in the fourth quarter. Vanguard Group Inc. now owns 254,358,968 shares of the utilities provider’s stock valued at $5,132,964,000 after buying an additional 6,151,233 shares in the last quarter. FMR LLC boosted its holdings in PG&E by 5.1% in the third quarter. FMR LLC now owns 176,839,426 shares of the utilities provider’s stock valued at $3,496,115,000 after acquiring an additional 8,604,396 shares during the last quarter. State Street Corp grew its position in PG&E by 5.0% during the third quarter. State Street Corp now owns 108,953,808 shares of the utilities provider’s stock valued at $2,155,093,000 after acquiring an additional 5,191,463 shares during the period. Massachusetts Financial Services Co. MA increased its stake in PG&E by 2.9% during the third quarter. Massachusetts Financial Services Co. MA now owns 104,846,953 shares of the utilities provider’s stock worth $2,072,824,000 after acquiring an additional 2,936,763 shares during the last quarter. Finally, Geode Capital Management LLC raised its holdings in shares of PG&E by 1.1% in the 3rd quarter. Geode Capital Management LLC now owns 49,837,059 shares of the utilities provider’s stock worth $981,960,000 after purchasing an additional 536,914 shares during the period. Institutional investors and hedge funds own 78.56% of the company’s stock.

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.