StockNews.com Begins Coverage on PG&E (NYSE:PCG)

StockNews.com started coverage on shares of PG&E (NYSE:PCGGet Rating) in a research report report published on Thursday morning. The firm issued a hold rating on the utilities provider’s stock.

A number of other analysts have also commented on the company. Jefferies Financial Group reaffirmed a neutral rating and issued a $17.00 price target on shares of PG&E in a research note on Tuesday, January 3rd. Wells Fargo & Company raised their price target on PG&E to $20.00 in a research note on Wednesday, December 14th. Credit Suisse Group raised their price target on PG&E from $18.00 to $19.00 and gave the stock an outperform rating in a research note on Friday, February 24th. Royal Bank of Canada reaffirmed an outperform rating and issued a $20.00 price target on shares of PG&E in a research note on Friday, March 10th. Finally, Morgan Stanley dropped their price target on PG&E from $15.00 to $14.00 and set an equal weight rating for the company in a research note on Wednesday, February 22nd. Five equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of Hold and an average target price of $17.78.

PG&E Stock Down 0.4 %

Shares of PG&E stock opened at $16.10 on Thursday. The company has a debt-to-equity ratio of 2.07, a quick ratio of 0.76 and a current ratio of 0.81. PG&E has a 52-week low of $9.64 and a 52-week high of $16.83. The stock has a market capitalization of $39.71 billion, a price-to-earnings ratio of 19.17, a P/E/G ratio of 5.31 and a beta of 1.10. The company’s 50 day moving average price is $15.80 and its 200-day moving average price is $15.02.

PG&E (NYSE:PCGGet Rating) last issued its earnings results on Thursday, February 23rd. The utilities provider reported $0.26 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.28 by ($0.02). PG&E had a return on equity of 10.55% and a net margin of 8.37%. The firm had revenue of $5.37 billion during the quarter, compared to the consensus estimate of $5.70 billion. During the same quarter in the prior year, the business posted $0.28 EPS. Equities research analysts forecast that PG&E will post 1.21 EPS for the current year.

Insider Buying and Selling at PG&E

In other PG&E news, CEO Patricia K. Poppe sold 66,700 shares of the firm’s stock in a transaction on Friday, March 3rd. The stock was sold at an average price of $15.87, for a total transaction of $1,058,529.00. Following the completion of the transaction, the chief executive officer now owns 1,269,325 shares of the company’s stock, valued at $20,144,187.75. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. In other news, major shareholder Pg&E Fire Victim Trust sold 60,000,000 shares of PG&E stock in a transaction dated Monday, January 9th. The stock was sold at an average price of $15.26, for a total value of $915,600,000.00. Following the completion of the transaction, the insider now owns 187,743,590 shares of the company’s stock, valued at approximately $2,864,967,183.40. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, CEO Patricia K. Poppe sold 66,700 shares of PG&E stock in a transaction dated Friday, March 3rd. The stock was sold at an average price of $15.87, for a total value of $1,058,529.00. Following the completion of the transaction, the chief executive officer now directly owns 1,269,325 shares of the company’s stock, valued at approximately $20,144,187.75. The disclosure for this sale can be found here. Insiders own 0.06% of the company’s stock.

Hedge Funds Weigh In On PG&E

Several large investors have recently modified their holdings of PCG. FMR LLC raised its position in shares of PG&E by 38.6% in the 2nd quarter. FMR LLC now owns 194,321,169 shares of the utilities provider’s stock worth $1,939,326,000 after purchasing an additional 54,108,481 shares during the last quarter. State Street Corp increased its holdings in PG&E by 121.3% in the 3rd quarter. State Street Corp now owns 86,054,530 shares of the utilities provider’s stock worth $1,075,682,000 after buying an additional 47,168,210 shares in the last quarter. Vanguard Group Inc. increased its holdings in PG&E by 15.7% in the 3rd quarter. Vanguard Group Inc. now owns 219,490,888 shares of the utilities provider’s stock worth $2,743,636,000 after buying an additional 29,840,608 shares in the last quarter. Gallagher Fiduciary Advisors LLC increased its holdings in PG&E by 107.4% in the 3rd quarter. Gallagher Fiduciary Advisors LLC now owns 54,243,109 shares of the utilities provider’s stock worth $678,039,000 after buying an additional 28,087,050 shares in the last quarter. Finally, Norges Bank bought a new stake in PG&E in the 4th quarter worth about $184,847,000. Hedge funds and other institutional investors own 83.63% of the company’s stock.

PG&E Company Profile

(Get Rating)

PG&E Corp. is 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.

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