PG&E (NYSE:PCG) PT Raised to $19.00

PG&E (NYSE:PCG) had its price objective increased by stock analysts at JPMorgan Chase & Co. from $18.00 to $19.00 in a report released on Tuesday, Benzinga reports. The firm currently has a “neutral” rating on the utilities provider’s stock. JPMorgan Chase & Co.‘s target price points to a potential upside of 11.76% from the stock’s current price.

A number of other brokerages have also recently commented on PCG. The Goldman Sachs Group began coverage on PG&E in a report on Wednesday, April 10th. They issued a “buy” rating and a $21.00 target price for the company. StockNews.com upgraded PG&E from a “sell” rating to a “hold” rating in a report on Thursday, February 1st. Finally, Barclays dropped their price objective on PG&E from $20.00 to $19.00 and set an “overweight” rating for the company in a report on Monday, January 22nd. Four investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $18.89.

PG&E Stock Performance

NYSE:PCG opened at $17.00 on Tuesday. The company has a market cap of $36.33 billion, a price-to-earnings ratio of 16.19 and a beta of 1.32. The company has a debt-to-equity ratio of 2.04, a current ratio of 0.83 and a quick ratio of 0.78. The stock’s 50 day simple moving average is $16.56 and its two-hundred day simple moving average is $16.88. PG&E has a 1 year low of $14.71 and a 1 year high of $18.32.

PG&E (NYSE:PCG) last announced its earnings results on Thursday, February 22nd. The utilities provider reported $0.47 EPS for the quarter, topping analysts’ consensus estimates of $0.46 by $0.01. The firm had revenue of $7.04 billion during the quarter, compared to analysts’ expectations of $6.43 billion. PG&E had a return on equity of 10.84% and a net margin of 9.24%. During the same quarter in the previous year, the business earned $0.26 EPS. As a group, equities analysts anticipate that PG&E will post 1.35 earnings per share for the current fiscal year.

Institutional Investors Weigh In On PG&E

Several hedge funds have recently made changes to their positions in the company. Vanguard Group Inc. lifted its holdings in shares of PG&E by 8.8% in the 3rd quarter. Vanguard Group Inc. now owns 268,407,694 shares of the utilities provider’s stock worth $4,329,416,000 after buying an additional 21,731,911 shares during the period. FMR LLC raised its position in shares of PG&E by 2.4% in the 3rd quarter. FMR LLC now owns 176,029,931 shares of the utilities provider’s stock worth $2,839,363,000 after acquiring an additional 4,044,631 shares in the last quarter. Capital International Investors raised its position in shares of PG&E by 7.1% in the 4th quarter. Capital International Investors now owns 116,093,791 shares of the utilities provider’s stock worth $2,093,198,000 after acquiring an additional 7,681,566 shares in the last quarter. Massachusetts Financial Services Co. MA raised its position in shares of PG&E by 1.2% in the 4th quarter. Massachusetts Financial Services Co. MA now owns 84,516,243 shares of the utilities provider’s stock worth $1,523,828,000 after acquiring an additional 993,923 shares in the last quarter. Finally, Third Point LLC raised its position in shares of PG&E by 1.8% in the 4th quarter. Third Point LLC now owns 57,860,000 shares of the utilities provider’s stock worth $1,043,216,000 after acquiring an additional 1,000,000 shares in the last quarter. 78.56% of the stock is currently owned by hedge funds and other 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.