PG&E (NYSE:PCG) Price Target Lowered to $24.00 at UBS Group

PG&E (NYSE:PCG) had its price objective dropped by analysts at UBS Group from $26.00 to $24.00 in a note issued to investors on Thursday,Benzinga reports. The brokerage currently has a “buy” rating on the utilities provider’s stock. UBS Group’s price objective would indicate a potential upside of 24.03% from the stock’s current price.

PCG has been the topic of several other reports. Morgan Stanley boosted their target price on PG&E from $19.00 to $20.00 and gave the stock an “equal weight” rating in a report on Wednesday, September 25th. Bank of America began coverage on shares of PG&E in a research report on Thursday, September 12th. They set a “buy” rating and a $24.00 price objective on the stock. Mizuho lifted their target price on shares of PG&E from $24.00 to $26.00 and gave the stock an “outperform” rating in a report on Wednesday, November 27th. Barclays cut their price target on shares of PG&E from $25.00 to $24.00 and set an “overweight” rating on the stock in a report on Tuesday. Finally, Jefferies Financial Group assumed coverage on shares of PG&E in a report on Monday, October 14th. They issued a “buy” rating and a $24.00 price objective for the company. Two research analysts have rated the stock with a hold rating and nine have given a buy rating to the company. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $22.80.

PG&E Stock Performance

Shares of PCG stock opened at $19.35 on Thursday. The company has a current ratio of 1.04, a quick ratio of 0.99 and a debt-to-equity ratio of 2.02. The company’s fifty day moving average price is $20.51 and its 200-day moving average price is $19.28. The stock has a market cap of $50.61 billion, a PE ratio of 15.12, a price-to-earnings-growth ratio of 1.51 and a beta of 1.01. PG&E has a 12 month low of $15.94 and a 12 month high of $21.72.

PG&E (NYSE:PCG) last announced its quarterly earnings data on Thursday, November 7th. The utilities provider reported $0.37 earnings per share for the quarter, topping analysts’ consensus estimates of $0.32 by $0.05. PG&E had a net margin of 11.11% and a return on equity of 12.51%. The business had revenue of $5.94 billion for the quarter, compared to analysts’ expectations of $6.58 billion. During the same quarter in the prior year, the company earned $0.24 earnings per share. The business’s revenue was up .9% compared to the same quarter last year. On average, equities analysts expect that PG&E will post 1.36 EPS for the current fiscal year.

Insider Activity

In other news, CEO Patricia K. Poppe sold 55,555 shares of PG&E stock in a transaction 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 transaction, the chief executive officer now owns 1,460,222 shares in the company, valued at $30,168,186.52. This trade represents a 3.67 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Insiders own 0.15% of the company’s stock.

Hedge Funds Weigh In On PG&E

A number of institutional investors have recently bought and sold shares of the stock. Rothschild Investment LLC purchased a new position in PG&E during the second quarter valued at approximately $30,000. UMB Bank n.a. lifted its stake in shares of PG&E by 84.7% during the 2nd quarter. UMB Bank n.a. now owns 2,204 shares of the utilities provider’s stock valued at $38,000 after buying an additional 1,011 shares in the last quarter. Blue Trust Inc. boosted its holdings in PG&E by 77.0% in the 2nd quarter. Blue Trust Inc. now owns 2,361 shares of the utilities provider’s stock worth $40,000 after buying an additional 1,027 shares during the period. Plato Investment Management Ltd purchased a new stake in PG&E in the 2nd quarter worth $44,000. Finally, Crewe Advisors LLC raised its holdings in PG&E by 243.0% during the second quarter. Crewe Advisors LLC now owns 4,041 shares of the utilities provider’s stock valued at $71,000 after acquiring an additional 2,863 shares during the period. 78.56% of the stock is owned by institutional investors.

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.