PG&E (NYSE:PCG) PT Raised to $20.00 at Morgan Stanley

PG&E (NYSE:PCG) had its price objective increased by Morgan Stanley from $19.00 to $20.00 in a research note published on Wednesday, Benzinga reports. Morgan Stanley currently has an equal weight rating on the utilities provider’s stock.

A number of other analysts have also recently weighed in on PCG. UBS Group boosted their target price on shares of PG&E from $24.00 to $26.00 and gave the stock a buy rating in a research note on Tuesday, September 3rd. Citigroup boosted their target price on shares of PG&E from $19.00 to $21.00 and gave the stock a buy rating in a research note on Friday, June 14th. JPMorgan Chase & Co. raised shares of PG&E from a neutral rating to an overweight rating and boosted their target price for the stock from $19.00 to $22.00 in a research note on Monday, June 10th. Bank of America initiated coverage on shares of PG&E in a report on Thursday, September 12th. They set a buy rating and a $24.00 price target on the stock. Finally, Barclays lifted their price target on shares of PG&E from $22.00 to $23.00 and gave the stock an overweight rating in a report on Tuesday, July 30th. Three investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of Moderate Buy and a consensus target price of $21.55.

PG&E Stock Performance

NYSE PCG opened at $19.82 on Wednesday. The firm’s fifty day moving average price is $18.99 and its two-hundred day moving average price is $17.96. The stock has a market cap of $57.07 billion, a PE ratio of 17.70, a PEG ratio of 1.54 and a beta of 1.01. PG&E has a fifty-two week low of $14.71 and a fifty-two week high of $20.65. The company has a debt-to-equity ratio of 1.99, a quick ratio of 0.86 and a current ratio of 0.90.

PG&E (NYSE:PCG) last posted its earnings results on Thursday, July 25th. The utilities provider reported $0.31 earnings per share for the quarter, topping analysts’ consensus estimates of $0.30 by $0.01. The firm had revenue of $5.99 billion for the quarter, compared to analysts’ expectations of $5.86 billion. PG&E had a net margin of 10.22% and a return on equity of 11.76%. The company’s revenue was up 13.2% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.23 earnings per share. On average, equities analysts expect that PG&E will post 1.36 EPS for the current fiscal year.

PG&E Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, October 15th. Investors of record on Monday, September 30th will be issued a $0.01 dividend. The ex-dividend date is Monday, September 30th. This represents a $0.04 annualized dividend and a yield of 0.20%. PG&E’s payout ratio is 3.57%.

Insider Activity at PG&E

In related news, VP Stephanie N. Williams sold 38,601 shares of the business’s stock in a transaction on Thursday, August 15th. The shares were sold at an average price of $18.32, for a total value of $707,170.32. Following the transaction, the vice president now owns 19,114 shares in the company, valued at $350,168.48. The transaction was disclosed in a document filed with the SEC, which is available through this link. 0.15% of the stock is owned by company insiders.

Hedge Funds Weigh In On PG&E

Several hedge funds and other institutional investors have recently bought and sold shares of the company. Sanctuary Advisors LLC acquired a new position in PG&E in the second quarter valued at $1,231,000. Souders Financial Advisors boosted its position in shares of PG&E by 3.3% during the 2nd quarter. Souders Financial Advisors now owns 187,816 shares of the utilities provider’s stock worth $3,279,000 after purchasing an additional 5,966 shares in the last quarter. Clearbridge Investments LLC bought a new position in shares of PG&E during the 2nd quarter worth about $56,679,000. EP Wealth Advisors LLC raised its stake in PG&E by 232.7% during the 2nd quarter. EP Wealth Advisors LLC now owns 39,018 shares of the utilities provider’s stock worth $681,000 after buying an additional 27,289 shares during the period. Finally, Quarry LP boosted its holdings in PG&E by 146.5% in the second quarter. Quarry LP now owns 10,939 shares of the utilities provider’s stock worth $191,000 after acquiring an additional 6,501 shares in the last quarter. 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.