Barclays Raises PG&E (NYSE:PCG) Price Target to $21.00

PG&E (NYSE:PCG) had its price objective raised by Barclays from $20.00 to $21.00 in a research note released on Friday morning, Benzinga reports. Barclays currently has an overweight rating on the utilities provider’s stock.

Several other research firms have also recently weighed in on PCG. JPMorgan Chase & Co. lifted their price target on shares of PG&E from $18.00 to $19.00 and gave the company a neutral rating in a report on Tuesday, April 23rd. StockNews.com upgraded shares of PG&E from a sell rating to a hold rating in a research report on Thursday, February 1st. Finally, The Goldman Sachs Group started coverage on shares of PG&E in a report on Wednesday, April 10th. They issued a buy rating and a $21.00 price objective for the company. Four research analysts have rated the stock with a hold rating and four have issued a buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of Moderate Buy and an average target price of $19.11.

PG&E Stock Performance

Shares of NYSE:PCG opened at $17.26 on Friday. The company has a current ratio of 0.99, a quick ratio of 0.93 and a debt-to-equity ratio of 2.08. The company has a market cap of $36.89 billion, a price-to-earnings ratio of 15.41 and a beta of 1.32. PG&E has a 12 month low of $14.71 and a 12 month high of $18.32. The company has a 50-day moving average price of $16.60 and a 200-day moving average price of $16.91.

PG&E (NYSE:PCG) last released its quarterly earnings results on Thursday, April 25th. The utilities provider reported $0.37 EPS for the quarter, beating analysts’ consensus estimates of $0.35 by $0.02. The business had revenue of $5.86 billion during the quarter, compared to analyst estimates of $6.60 billion. PG&E had a return on equity of 11.32% and a net margin of 10.05%. PG&E’s quarterly revenue was down 5.6% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.29 EPS. As a group, equities analysts anticipate that PG&E will post 1.35 EPS for the current year.

PG&E Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, April 15th. Investors of record on Thursday, March 28th were given a dividend of $0.01 per share. The ex-dividend date was Wednesday, March 27th. This represents a $0.04 annualized dividend and a dividend yield of 0.23%. PG&E’s dividend payout ratio (DPR) is presently 3.57%.

Hedge Funds Weigh In On PG&E

Hedge funds have recently bought and sold shares of the business. Planned Solutions Inc. bought a new stake in shares of PG&E in the fourth quarter worth approximately $37,000. Vima LLC purchased a new stake in PG&E in the fourth quarter worth approximately $41,000. CVA Family Office LLC bought a new stake in PG&E in the 4th quarter worth approximately $43,000. Millburn Ridgefield Corp purchased a new stake in PG&E during the 3rd quarter valued at $44,000. Finally, Catalyst Capital Advisors LLC bought a new position in shares of PG&E during the 3rd quarter valued at $44,000. Hedge funds and other 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.