PG&E Co. (NYSE:PCG) Receives $13.75 Average Price Target from Brokerages

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Shares of PG&E Co. (NYSE:PCG) have earned an average recommendation of “Buy” from the twelve ratings firms that are presently covering the company, MarketBeat reports. Five analysts have rated the stock with a hold recommendation and six have issued a buy recommendation on the company. The average 12 month price target among brokerages that have issued ratings on the stock in the last year is $13.45.

A number of equities research analysts have commented on the stock. Wells Fargo & Company raised shares of PG&E from an “underweight” rating to an “equal weight” rating and set a $12.00 price objective on the stock in a research report on Wednesday, March 10th. Mizuho upped their target price on shares of PG&E from $14.00 to $15.00 in a report on Friday, February 12th. Finally, Morgan Stanley lowered their target price on shares of PG&E from $13.50 to $13.00 and set an “equal weight” rating for the company in a report on Wednesday, January 20th.

Shares of NYSE:PCG traded down $0.05 during trading hours on Thursday, reaching $11.29. The stock had a trading volume of 10,218,793 shares, compared to its average volume of 13,771,501. PG&E has a 1 year low of $8.35 and a 1 year high of $13.34. The firm’s 50 day moving average is $11.37 and its 200-day moving average is $11.40. The company has a debt-to-equity ratio of 1.72, a quick ratio of 0.69 and a current ratio of 0.74. The stock has a market capitalization of $22.41 billion, a price-to-earnings ratio of -1.13, a P/E/G ratio of 4.83 and a beta of 1.30.

PG&E (NYSE:PCG) last announced its quarterly earnings data on Thursday, February 25th. The utilities provider reported $0.21 EPS for the quarter, beating the Zacks’ consensus estimate of $0.19 by $0.02. PG&E had a negative net margin of 27.77% and a positive return on equity of 21.57%. The company had revenue of $4.75 billion for the quarter, compared to the consensus estimate of $4.68 billion. During the same period in the prior year, the firm posted $0.68 EPS. Analysts forecast that PG&E will post 1.6 EPS for the current year.

A number of large investors have recently modified their holdings of PCG. Baupost Group LLC MA boosted its stake in PG&E by 552.0% during the 3rd quarter. Baupost Group LLC MA now owns 30,657,601 shares of the utilities provider’s stock worth $287,875,000 after purchasing an additional 25,955,158 shares during the period. BlackRock Inc. boosted its stake in PG&E by 24.9% during the 4th quarter. BlackRock Inc. now owns 76,972,546 shares of the utilities provider’s stock worth $959,078,000 after purchasing an additional 15,347,968 shares during the period. Norges Bank acquired a new stake in PG&E during the 4th quarter worth $190,908,000. Steadfast Capital Management LP boosted its stake in PG&E by 86.1% during the 4th quarter. Steadfast Capital Management LP now owns 32,441,080 shares of the utilities provider’s stock worth $404,216,000 after purchasing an additional 15,009,956 shares during the period. Finally, FMR LLC boosted its stake in PG&E by 6.3% during the 4th quarter. FMR LLC now owns 148,364,822 shares of the utilities provider’s stock worth $1,848,626,000 after purchasing an additional 8,773,197 shares during the period. Hedge funds and other institutional investors own 70.10% of the company’s stock.

PG&E Company Profile

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.

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Analyst Recommendations for PG&E (NYSE:PCG)

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