Barclays Lowers PG&E (NYSE:PCG) Price Target to $19.00

PG&E (NYSE:PCGFree Report) had its target price reduced by Barclays from $20.00 to $19.00 in a research report released on Monday morning, Benzinga reports. Barclays currently has an overweight rating on the utilities provider’s stock.

Other equities research analysts have also issued reports about the company. Mizuho upped their price objective on PG&E from $19.00 to $20.00 and gave the company a buy rating in a research note on Friday, November 17th. Guggenheim lowered their target price on PG&E from $21.00 to $19.00 in a report on Monday, October 9th. JPMorgan Chase & Co. lowered their target price on PG&E from $19.00 to $18.00 and set a neutral rating for the company in a report on Tuesday, October 17th. Evercore ISI restated an in-line rating and set a $16.00 price objective on shares of PG&E in a research note on Monday, October 23rd. Finally, StockNews.com downgraded shares of PG&E from a hold rating to a sell rating in a research note on Sunday, January 14th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and six have given a buy rating to the stock. According to data from MarketBeat.com, PG&E has an average rating of Moderate Buy and an average price target of $18.75.

Read Our Latest Analysis on PCG

PG&E Price Performance

Shares of NYSE:PCG opened at $16.77 on Monday. The company has a debt-to-equity ratio of 2.09, a current ratio of 0.84 and a quick ratio of 0.79. The business has a 50-day moving average of $17.56 and a two-hundred day moving average of $17.08. The stock has a market capitalization of $43.79 billion, a P/E ratio of 19.50, a P/E/G ratio of 4.88 and a beta of 1.15. PG&E has a fifty-two week low of $14.71 and a fifty-two week high of $18.32.

PG&E (NYSE:PCGGet Free Report) last issued its quarterly earnings results on Thursday, October 26th. The utilities provider reported $0.24 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.28 by ($0.04). PG&E had a net margin of 8.13% and a return on equity of 9.21%. The firm had revenue of $5.89 billion for the quarter, compared to the consensus estimate of $5.48 billion. During the same quarter in the prior year, the firm earned $0.29 earnings per share. The company’s revenue was up 9.2% on a year-over-year basis. On average, equities research analysts predict that PG&E will post 1.21 EPS for the current fiscal year.

PG&E Cuts Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, January 15th. Stockholders of record on Friday, December 29th were issued a dividend of $0.01 per share. The ex-dividend date of this dividend was Thursday, December 28th. This represents a $0.04 annualized dividend and a dividend yield of 0.24%. PG&E’s dividend payout ratio is presently 4.65%.

Institutional Investors Weigh In On PG&E

A number of institutional investors have recently modified their holdings of PCG. IFP Advisors Inc grew its position in shares of PG&E by 725.8% in the second quarter. IFP Advisors Inc now owns 768 shares of the utilities provider’s stock valued at $32,000 after purchasing an additional 675 shares during the last quarter. Clear Street Markets LLC acquired a new stake in shares of PG&E during the 4th quarter worth about $26,000. Quarry LP bought a new position in shares of PG&E in the 2nd quarter valued at about $34,000. Planned Solutions Inc. bought a new position in PG&E during the 4th quarter worth approximately $37,000. Finally, Toth Financial Advisory Corp acquired a new position in shares of PG&E in the third quarter valued at $35,000. 74.35% of the stock is currently owned by institutional investors and hedge funds.

PG&E Company Profile

(Get Free Report)

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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