PG&E (NYSE:PCG) Price Target Raised to $23.00 at Mizuho

PG&E (NYSE:PCG) had its price target raised by Mizuho from $21.00 to $23.00 in a report published on Friday, Benzinga reports. The brokerage currently has a buy rating on the utilities provider’s stock.

A number of other analysts have also issued reports on PCG. Barclays increased their target price on PG&E from $20.00 to $21.00 and gave the company an overweight rating in a report on Friday, April 26th. The Goldman Sachs Group started coverage on PG&E in a report on Wednesday, April 10th. They issued a buy rating and a $21.00 target price on the stock. JPMorgan Chase & Co. boosted their price objective on shares of PG&E from $18.00 to $19.00 and gave the company a neutral rating in a research report on Tuesday, April 23rd. Finally, StockNews.com raised shares of PG&E from a sell rating to a hold rating in a research note on Thursday, February 1st. Four research analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. According to data from MarketBeat.com, PG&E has an average rating of Moderate Buy and an average price target of $19.44.

PG&E Price Performance

NYSE:PCG traded up $0.15 during trading hours on Friday, reaching $18.60. 12,617,249 shares of the company’s stock were exchanged, compared to its average volume of 12,296,064. The company has a quick ratio of 0.93, a current ratio of 0.99 and a debt-to-equity ratio of 2.08. The company has a market capitalization of $53.55 billion, a P/E ratio of 16.61 and a beta of 1.26. PG&E has a 12 month low of $14.71 and a 12 month high of $18.62. The business’s 50-day simple moving average is $16.90 and its two-hundred day simple moving average is $17.06.

PG&E (NYSE:PCG) last posted its quarterly earnings data on Thursday, April 25th. The utilities provider reported $0.37 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.35 by $0.02. The firm had revenue of $5.86 billion for the quarter, compared to the consensus estimate of $6.60 billion. PG&E had a return on equity of 11.32% and a net margin of 10.05%. The business’s revenue for the quarter was down 5.6% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.29 EPS. Sell-side analysts expect that PG&E will post 1.35 EPS for the current fiscal year.

PG&E Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, July 15th. Investors of record on Friday, June 28th will be issued a $0.01 dividend. This represents a $0.04 annualized dividend and a yield of 0.22%. PG&E’s dividend payout ratio (DPR) is currently 3.57%.

Insider Buying and Selling at PG&E

In other PG&E news, CEO Patricia K. Poppe sold 59,000 shares of the company’s stock in a transaction dated Tuesday, April 30th. The shares were sold at an average price of $17.08, for a total transaction of $1,007,720.00. Following the completion of the sale, the chief executive officer now directly owns 1,515,777 shares in the company, valued at $25,889,471.16. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 0.15% of the company’s stock.

Hedge Funds Weigh In On PG&E

Several large investors have recently added to or reduced their stakes in the company. Planned Solutions Inc. acquired a new position in shares of PG&E in the fourth quarter valued at $37,000. Vima LLC bought a new position in shares of PG&E during the 4th quarter worth about $41,000. CVA Family Office LLC acquired a new stake in shares of PG&E during the 4th quarter valued at about $43,000. Millburn Ridgefield Corp bought a new stake in PG&E in the third quarter valued at about $44,000. Finally, Catalyst Capital Advisors LLC acquired a new position in PG&E in the third quarter worth about $44,000. Institutional investors and hedge funds 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.