PG&E (NYSE:PCG) Price Target Raised to $20.00 at Mizuho

PG&E (NYSE:PCG) had its price target raised by Mizuho from $19.00 to $20.00 in a research note released on Friday morning, Benzinga reports. The firm currently has a buy rating on the utilities provider’s stock.

Several other analysts have also recently weighed in on PCG. Evercore ISI reissued an in-line rating and issued a $16.00 price objective on shares of PG&E in a research note on Monday, October 23rd. JPMorgan Chase & Co. reduced their price objective on shares of PG&E from $19.00 to $18.00 and set a neutral rating on the stock in a research note on Tuesday, October 17th. Morgan Stanley reduced their price objective on shares of PG&E from $15.00 to $14.00 and set an equal weight rating on the stock in a research note on Wednesday, August 23rd. Barclays reduced their price objective on shares of PG&E from $19.00 to $18.00 and set an overweight rating on the stock in a research note on Tuesday, October 17th. Finally, Guggenheim reduced their price objective on shares of PG&E from $21.00 to $19.00 in a research note on Monday, October 9th. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and six have given a buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of Hold and an average target price of $18.63.

PG&E Stock Up 1.0 %

Shares of NYSE:PCG opened at $17.93 on Friday. The company has a fifty day moving average of $16.48 and a 200-day moving average of $16.89. The company has a market capitalization of $46.82 billion, a PE ratio of 20.85, a price-to-earnings-growth ratio of 5.84 and a beta of 1.15. The company has a debt-to-equity ratio of 2.09, a quick ratio of 0.79 and a current ratio of 0.84. PG&E has a 52-week low of $14.69 and a 52-week high of $18.19.

PG&E (NYSE:PCG) last announced 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). The company had revenue of $5.89 billion for the quarter, compared to analyst estimates of $5.48 billion. PG&E had a return on equity of 9.21% and a net margin of 8.13%. The firm’s quarterly revenue was up 9.2% on a year-over-year basis. During the same quarter last year, the company posted $0.29 earnings per share. On average, equities analysts predict that PG&E will post 1.21 EPS for the current fiscal year.

Insider Buying and Selling at PG&E

In other news, Director Cheryl F. Campbell sold 10,000 shares of the stock in a transaction dated Tuesday, September 12th. The shares were sold at an average price of $16.90, for a total transaction of $169,000.00. Following the transaction, the director now owns 54,153 shares of the company’s stock, valued at approximately $915,185.70. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 0.06% of the company’s stock.

Hedge Funds Weigh In On PG&E

Institutional investors and hedge funds have recently made changes to their positions in the stock. Quaero Capital S.A. bought a new position in shares of PG&E during the 2nd quarter worth about $1,737,000. Strategy Asset Managers LLC bought a new position in shares of PG&E during the 1st quarter worth about $699,000. Texas Permanent School Fund Corp boosted its position in shares of PG&E by 46.7% during the 1st quarter. Texas Permanent School Fund Corp now owns 335,665 shares of the utilities provider’s stock worth $5,428,000 after purchasing an additional 106,910 shares in the last quarter. Greenleaf Trust boosted its position in shares of PG&E by 5.2% during the 1st quarter. Greenleaf Trust now owns 16,814 shares of the utilities provider’s stock worth $272,000 after purchasing an additional 828 shares in the last quarter. Finally, Wedmont Private Capital bought a new position in shares of PG&E during the 2nd quarter worth about $207,000. Institutional investors own 74.35% 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.