Brokerages Set PG&E Co. (NYSE:PCG) Price Target at $22.05

Shares of PG&E Co. (NYSE:PCG) have been given a consensus rating of “Moderate Buy” by the twelve research firms that are presently covering the firm, MarketBeat reports. One investment analyst has rated the stock with a sell recommendation, two have assigned a hold recommendation and nine have given a buy recommendation to the company. The average 12 month price objective among brokers that have covered the stock in the last year is $22.05.

Several equities research analysts recently issued reports on the stock. Guggenheim downgraded shares of PG&E from a “buy” rating to a “neutral” rating in a research note on Tuesday, February 18th. UBS Group cut PG&E from a “buy” rating to a “neutral” rating and cut their price objective for the company from $22.00 to $19.00 in a research report on Wednesday, March 19th. Barclays reduced their target price on PG&E from $24.00 to $23.00 and set an “overweight” rating for the company in a research note on Monday, January 27th. BMO Capital Markets upped their price objective on shares of PG&E from $21.00 to $23.00 and gave the company an “outperform” rating in a report on Tuesday, February 18th. Finally, Morgan Stanley increased their price target on shares of PG&E from $16.50 to $17.50 and gave the company an “underweight” rating in a report on Thursday, March 20th.

Insider Buying and Selling

In other news, Director Arno Lockheart Harris acquired 6,389 shares of PG&E stock in a transaction on Thursday, February 20th. The shares were purchased at an average cost of $15.66 per share, for a total transaction of $100,051.74. Following the completion of the purchase, the director now directly owns 14,864 shares of the company’s stock, valued at approximately $232,770.24. This represents a 75.39 % increase in their position. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, EVP Carla J. Peterman sold 32,521 shares of the firm’s stock in a transaction dated Tuesday, March 4th. The shares were sold at an average price of $16.37, for a total transaction of $532,368.77. Following the completion of the transaction, the executive vice president now directly owns 183,635 shares in the company, valued at approximately $3,006,104.95. This represents a 15.05 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.15% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in PCG. Czech National Bank increased its stake in shares of PG&E by 8.9% in the 4th quarter. Czech National Bank now owns 474,013 shares of the utilities provider’s stock valued at $9,566,000 after purchasing an additional 38,590 shares during the last quarter. New York State Teachers Retirement System grew its position in PG&E by 8.2% in the fourth quarter. New York State Teachers Retirement System now owns 1,974,070 shares of the utilities provider’s stock valued at $39,837,000 after acquiring an additional 148,860 shares during the last quarter. State Street Corp raised its stake in PG&E by 5.0% during the third quarter. State Street Corp now owns 108,953,808 shares of the utilities provider’s stock worth $2,155,093,000 after acquiring an additional 5,191,463 shares in the last quarter. McElhenny Sheffield Capital Management LLC bought a new position in shares of PG&E in the fourth quarter worth about $514,000. Finally, Atria Wealth Solutions Inc. acquired a new stake in shares of PG&E in the 4th quarter valued at approximately $466,000. 78.56% of the stock is currently owned by institutional investors and hedge funds.

PG&E Stock Down 0.5 %

NYSE:PCG opened at $17.04 on Friday. PG&E has a twelve month low of $14.99 and a twelve month high of $21.72. The firm has a market capitalization of $45.52 billion, a price-to-earnings ratio of 14.82, a price-to-earnings-growth ratio of 1.09 and a beta of 1.04. The company has a quick ratio of 1.00, a current ratio of 1.05 and a debt-to-equity ratio of 1.86. The stock’s 50 day moving average price is $16.20 and its two-hundred day moving average price is $18.73.

PG&E (NYSE:PCG) last posted its quarterly earnings results on Thursday, February 13th. The utilities provider reported $0.31 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.31. PG&E had a net margin of 10.27% and a return on equity of 10.94%. The firm had revenue of $6.63 billion for the quarter, compared to analyst estimates of $7.29 billion. During the same period in the prior year, the firm posted $0.47 earnings per share. Equities research analysts expect that PG&E will post 1.49 earnings per share for the current fiscal year.

PG&E Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, April 15th. Stockholders of record on Monday, March 31st will be given a $0.025 dividend. The ex-dividend date is Monday, March 31st. This represents a $0.10 dividend on an annualized basis and a dividend yield of 0.59%. PG&E’s payout ratio is 8.70%.

About PG&E

PG&E Corp. operates as a holding company, which engages in generation, transmission, and distribution of electricity and natural gas to customers. It specializes in energy, utility, power, gas, electricity, solar and sustainability. The company was founded in 1995 and is headquartered in Oakland, CA.