PG&E (NYSE:PCG) Stock Price Expected to Rise, Mizuho Analyst Says

PG&E (NYSE:PCG) had its price target hoisted by Mizuho from $24.00 to $26.00 in a research report released on Wednesday,Benzinga reports. Mizuho currently has an outperform rating on the utilities provider’s stock.

A number of other analysts also recently weighed in on PCG. Bank of America initiated coverage on PG&E in a report on Thursday, September 12th. They issued a “buy” rating and a $24.00 price objective for the company. Jefferies Financial Group began coverage on PG&E in a research note on Monday, October 14th. They issued a “buy” rating and a $24.00 price objective on the stock. UBS Group increased their target price on shares of PG&E from $24.00 to $26.00 and gave the company a “buy” rating in a research report on Tuesday, September 3rd. Morgan Stanley boosted their price target on shares of PG&E from $19.00 to $20.00 and gave the stock an “equal weight” rating in a research report on Wednesday, September 25th. Finally, Barclays increased their price objective on shares of PG&E from $24.00 to $25.00 and gave the stock an “overweight” rating in a research report on Monday, October 21st. Two investment analysts have rated the stock with a hold rating and nine have given a buy rating to the company’s stock. According to data from MarketBeat.com, PG&E has a consensus rating of “Moderate Buy” and a consensus target price of $23.10.

PG&E Price Performance

Shares of PCG opened at $21.63 on Wednesday. The business has a 50-day simple moving average of $20.33 and a two-hundred day simple moving average of $19.07. PG&E has a 12-month low of $15.94 and a 12-month high of $21.72. The stock has a market cap of $56.57 billion, a PE ratio of 16.90, a PEG ratio of 1.63 and a beta of 1.03. The company has a quick ratio of 0.99, a current ratio of 1.04 and a debt-to-equity ratio of 2.02.

PG&E (NYSE:PCG) last issued its quarterly earnings data on Thursday, November 7th. The utilities provider reported $0.37 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.32 by $0.05. PG&E had a net margin of 11.11% and a return on equity of 12.51%. The business had revenue of $5.94 billion during the quarter, compared to analyst estimates of $6.58 billion. During the same quarter last year, the business earned $0.24 EPS. The firm’s quarterly revenue was up .9% on a year-over-year basis. Analysts anticipate that PG&E will post 1.36 earnings per share for the current fiscal year.

PG&E Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, October 15th. Stockholders of record on Monday, September 30th were given a dividend of $0.01 per share. The ex-dividend date of this dividend was Monday, September 30th. This represents a $0.04 dividend on an annualized basis and a dividend yield of 0.18%. PG&E’s dividend payout ratio (DPR) is presently 3.13%.

Institutional Trading of PG&E

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in PCG. Ballentine Partners LLC grew its stake in PG&E by 3.1% in the second quarter. Ballentine Partners LLC now owns 22,458 shares of the utilities provider’s stock valued at $392,000 after acquiring an additional 666 shares during the period. Commerce Bank grew its position in PG&E by 1.5% in the 3rd quarter. Commerce Bank now owns 47,051 shares of the utilities provider’s stock valued at $930,000 after purchasing an additional 712 shares during the period. Continuum Advisory LLC increased its stake in PG&E by 11.4% during the 3rd quarter. Continuum Advisory LLC now owns 7,501 shares of the utilities provider’s stock valued at $157,000 after purchasing an additional 769 shares in the last quarter. Alta Advisers Ltd raised its holdings in PG&E by 19.5% during the second quarter. Alta Advisers Ltd now owns 4,900 shares of the utilities provider’s stock worth $86,000 after buying an additional 800 shares during the last quarter. Finally, iA Global Asset Management Inc. lifted its stake in shares of PG&E by 2.6% in the third quarter. iA Global Asset Management Inc. now owns 31,545 shares of the utilities provider’s stock valued at $624,000 after buying an additional 812 shares in the last quarter. 78.56% of the stock is owned by 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.