PG&E (NYSE:PCG) Given Overweight Rating at JPMorgan Chase & Co.

JPMorgan Chase & Co. reaffirmed their overweight rating on shares of PG&E (NYSE:PCG) in a report issued on Wednesday morning, Marketbeat reports. They currently have a $22.00 price objective on the utilities provider’s stock.

Several other brokerages also recently issued reports on PCG. Mizuho lifted their price objective on PG&E from $24.00 to $26.00 and gave the stock an “outperform” rating in a research report on Wednesday, November 27th. Barclays dropped their price target on PG&E from $24.00 to $23.00 and set an “overweight” rating for the company in a research report on Monday, January 27th. BMO Capital Markets started coverage on PG&E in a research report on Monday, January 13th. They issued an “outperform” rating and a $21.00 price objective on the stock. Finally, UBS Group dropped their price objective on PG&E from $24.00 to $22.00 and set a “buy” rating for the company in a research report on Thursday, January 30th. One investment analyst has rated the stock with a hold rating and ten have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $22.36.

PG&E Stock Performance

NYSE:PCG opened at $16.02 on Wednesday. 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 market capitalization of $41.90 billion, a P/E ratio of 12.52, a price-to-earnings-growth ratio of 1.09 and a beta of 0.99. The firm has a 50-day moving average price of $18.21 and a two-hundred day moving average price of $19.26. PG&E has a twelve month low of $14.99 and a twelve month high of $21.72.

Insider Activity

In other news, CEO Patricia K. Poppe sold 55,555 shares of the company’s stock in a transaction on Monday, December 2nd. The stock was sold at an average price of $20.66, for a total transaction of $1,147,766.30. Following the completion of the sale, the chief executive officer now directly owns 1,460,222 shares in the company, valued at $30,168,186.52. This represents a 3.67 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this link. Corporate insiders own 0.15% of the company’s stock.

Institutional Investors Weigh In On PG&E

Institutional investors have recently added to or reduced their stakes in the company. Czech National Bank lifted 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 in the last quarter. State Street Corp raised its holdings in PG&E by 5.0% in the third quarter. State Street Corp now owns 108,953,808 shares of the utilities provider’s stock valued at $2,155,093,000 after buying an additional 5,191,463 shares during the period. Tokio Marine Asset Management Co. Ltd. lifted its position in PG&E by 259.6% during the third quarter. Tokio Marine Asset Management Co. Ltd. now owns 61,850 shares of the utilities provider’s stock valued at $1,223,000 after buying an additional 44,650 shares in the last quarter. McElhenny Sheffield Capital Management LLC purchased a new stake in PG&E during the fourth quarter worth approximately $514,000. Finally, Merit Financial Group LLC acquired a new stake in shares of PG&E in the fourth quarter worth $336,000. Hedge funds and other institutional investors own 78.56% of the company’s stock.

PG&E Company Profile

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.