PG&E (NYSE:PCG) Receives New Coverage from Analysts at Jefferies Financial Group

Jefferies Financial Group began coverage on shares of PG&E (NYSE:PCG) in a report published on Monday morning, MarketBeat Ratings reports. The brokerage issued a buy rating and a $24.00 price target on the utilities provider’s stock.

Several other brokerages also recently weighed in on PCG. Barclays raised their target price on PG&E from $22.00 to $23.00 and gave the company an “overweight” rating in a research note on Tuesday, July 30th. UBS Group increased their price target on shares of PG&E from $24.00 to $26.00 and gave the stock a “buy” rating in a research report on Tuesday, September 3rd. Wells Fargo & Company increased their price target on shares of PG&E from $21.00 to $22.00 and gave the stock an “overweight” rating in a research report on Friday, July 26th. Morgan Stanley increased their price target on shares of PG&E from $19.00 to $20.00 and gave the stock an “equal weight” rating in a research report on Wednesday, September 25th. Finally, Bank of America started coverage on shares of PG&E in a research report on Thursday, September 12th. They set a “buy” rating and a $24.00 price target on the stock. Three analysts have rated the stock with a hold rating and nine have given a buy rating to the company’s stock. According to MarketBeat.com, PG&E presently has an average rating of “Moderate Buy” and a consensus price target of $22.00.

PG&E Trading Down 1.1 %

Shares of PG&E stock opened at $20.29 on Monday. PG&E has a fifty-two week low of $15.59 and a fifty-two week high of $20.65. The firm has a market cap of $58.42 billion, a PE ratio of 18.12, a P/E/G ratio of 1.50 and a beta of 1.01. The business’s fifty day moving average is $19.51 and its two-hundred day moving average is $18.32. The company has a quick ratio of 0.86, a current ratio of 0.90 and a debt-to-equity ratio of 1.99.

PG&E (NYSE:PCG) last released its quarterly earnings data on Thursday, July 25th. The utilities provider reported $0.31 EPS for the quarter, topping analysts’ consensus estimates of $0.30 by $0.01. The business had revenue of $5.99 billion during the quarter, compared to the consensus estimate of $5.86 billion. PG&E had a return on equity of 11.76% and a net margin of 10.22%. The business’s revenue for the quarter was up 13.2% on a year-over-year basis. During the same period in the prior year, the firm posted $0.23 EPS. Analysts anticipate that PG&E will post 1.36 earnings per share for the current year.

PG&E Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, October 15th. Investors of record on Monday, September 30th were issued a $0.01 dividend. The ex-dividend date was Monday, September 30th. This represents a $0.04 annualized dividend and a yield of 0.20%. PG&E’s dividend payout ratio (DPR) is presently 3.57%.

Insider Transactions at PG&E

In other PG&E news, VP Stephanie N. Williams sold 38,601 shares of the company’s stock in a transaction that occurred on Thursday, August 15th. The shares were sold at an average price of $18.32, for a total value of $707,170.32. Following the completion of the sale, the vice president now owns 19,114 shares of the company’s stock, valued at approximately $350,168.48. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 0.15% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in PCG. Vanguard Group Inc. raised its position in shares of PG&E by 2.0% in the 1st quarter. Vanguard Group Inc. now owns 282,332,215 shares of the utilities provider’s stock valued at $4,731,888,000 after buying an additional 5,635,693 shares in the last quarter. JPMorgan Chase & Co. boosted its stake in shares of PG&E by 1.8% in the 1st quarter. JPMorgan Chase & Co. now owns 126,126,581 shares of the utilities provider’s stock valued at $2,113,882,000 after purchasing an additional 2,176,931 shares during the last quarter. Capital International Investors boosted its stake in shares of PG&E by 4.4% in the 1st quarter. Capital International Investors now owns 121,159,974 shares of the utilities provider’s stock valued at $2,030,641,000 after purchasing an additional 5,066,183 shares during the last quarter. King Street Capital Management L.P. bought a new stake in shares of PG&E in the 2nd quarter valued at $1,964,250,000. Finally, Massachusetts Financial Services Co. MA boosted its stake in shares of PG&E by 17.3% in the 2nd quarter. Massachusetts Financial Services Co. MA now owns 101,910,190 shares of the utilities provider’s stock valued at $1,779,352,000 after purchasing an additional 14,998,472 shares during 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.