PG&E (NYSE:PCG) Sets New 12-Month Low – Here’s Why

PG&E Co. (NYSE:PCG)’s share price reached a new 52-week low during trading on Monday . The stock traded as low as $15.15 and last traded at $15.21, with a volume of 2211401 shares traded. The stock had previously closed at $15.65.

Analysts Set New Price Targets

PCG has been the topic of several research analyst reports. UBS Group lowered their price objective on PG&E from $24.00 to $22.00 and set a “buy” rating on the stock in a report on Thursday. Mizuho increased their price objective on shares of PG&E from $24.00 to $26.00 and gave the stock an “outperform” rating in a research report on Wednesday, November 27th. Barclays cut their target price on shares of PG&E from $24.00 to $23.00 and set an “overweight” rating on the stock in a research note on Monday, January 27th. Jefferies Financial Group began coverage on shares of PG&E in a report on Monday, October 14th. They issued a “buy” rating and a $24.00 price objective on the stock. Finally, BMO Capital Markets initiated coverage on PG&E in a research note on Monday, January 13th. They issued an “outperform” rating and a $21.00 price objective for the company. One investment analyst has rated the stock with a hold rating and ten have issued a buy rating to the stock. According to MarketBeat.com, PG&E presently has a consensus rating of “Moderate Buy” and a consensus price target of $22.36.

PG&E Trading Down 2.8 %

The stock has a market capitalization of $39.77 billion, a price-to-earnings ratio of 11.86, a price-to-earnings-growth ratio of 1.09 and a beta of 0.99. The company has a current ratio of 1.04, a quick ratio of 0.99 and a debt-to-equity ratio of 2.02. The company has a fifty day moving average of $19.02 and a two-hundred day moving average of $19.39.

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

Insider Buying and Selling at PG&E

In related news, CEO Patricia K. Poppe sold 55,555 shares of the business’s stock in a transaction on Monday, December 2nd. The shares were sold at an average price of $20.66, for a total value of $1,147,766.30. Following the sale, the chief executive officer now owns 1,460,222 shares of the company’s stock, valued at $30,168,186.52. The trade was a 3.67 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Corporate insiders own 0.15% of the company’s stock.

Institutional Trading of PG&E

Hedge funds and other institutional investors have recently bought and sold shares of the business. FMR LLC boosted its position in shares of PG&E by 5.1% during the 3rd quarter. FMR LLC now owns 176,839,426 shares of the utilities provider’s stock valued at $3,496,115,000 after acquiring an additional 8,604,396 shares during the last quarter. State Street Corp boosted its stake in shares of PG&E by 5.0% during the 3rd 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 during the last quarter. Brookfield Corp ON raised its position in shares of PG&E by 45.6% during the third quarter. Brookfield Corp ON now owns 12,643,085 shares of the utilities provider’s stock valued at $249,954,000 after buying an additional 3,958,495 shares during the last quarter. Massachusetts Financial Services Co. MA increased its stake in PG&E by 2.9% during the third quarter. Massachusetts Financial Services Co. MA now owns 104,846,953 shares of the utilities provider’s stock worth $2,072,824,000 after acquiring an additional 2,936,763 shares during the last quarter. Finally, Duff & Phelps Investment Management Co. raised its holdings in shares of PG&E by 91.2% in the third quarter. Duff & Phelps Investment Management Co. now owns 4,027,434 shares of the utilities provider’s stock worth $79,622,000 after buying an additional 1,920,734 shares during the period. Institutional investors own 78.56% of the company’s stock.

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.