PG&E (NYSE:PCG) PT Raised to $19.00 at JPMorgan Chase & Co.

PG&E (NYSE:PCG) had its target price increased by JPMorgan Chase & Co. from $18.00 to $19.00 in a research report report published on Tuesday morning, Benzinga reports. The brokerage currently has a neutral rating on the utilities provider’s stock.

Other equities research analysts have also issued reports about the stock. StockNews.com upgraded shares of PG&E from a sell rating to a hold rating in a report on Thursday, February 1st. The Goldman Sachs Group started coverage on shares of PG&E in a research note on Wednesday, April 10th. They issued a buy rating and a $21.00 price target on the stock. Finally, Barclays lowered their price target on shares of PG&E from $20.00 to $19.00 and set an overweight rating on the stock in a research note on Monday, January 22nd. Four equities research analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. According to data from MarketBeat.com, PG&E currently has an average rating of Moderate Buy and a consensus target price of $18.89.

PG&E Stock Up 0.4 %

Shares of NYSE:PCG opened at $17.07 on Tuesday. PG&E has a 52 week low of $14.71 and a 52 week high of $18.32. The company has a debt-to-equity ratio of 2.04, a quick ratio of 0.78 and a current ratio of 0.83. The company has a market capitalization of $36.47 billion, a PE ratio of 16.25 and a beta of 1.32. The company has a 50 day moving average price of $16.57 and a two-hundred day moving average price of $16.88.

PG&E (NYSE:PCG) last issued its quarterly earnings data on Thursday, February 22nd. The utilities provider reported $0.47 EPS for the quarter, topping analysts’ consensus estimates of $0.46 by $0.01. PG&E had a net margin of 9.24% and a return on equity of 10.84%. The business had revenue of $7.04 billion for the quarter, compared to analyst estimates of $6.43 billion. During the same period last year, the business posted $0.26 earnings per share. Analysts forecast that PG&E will post 1.35 earnings per share for the current year.

PG&E Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, April 15th. Stockholders of record on Thursday, March 28th were given a $0.01 dividend. This represents a $0.04 dividend on an annualized basis and a dividend yield of 0.23%. The ex-dividend date was Wednesday, March 27th. PG&E’s dividend payout ratio (DPR) is presently 3.81%.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of the company. Vanguard Group Inc. grew its position in shares of PG&E by 8.8% in the 3rd quarter. Vanguard Group Inc. now owns 268,407,694 shares of the utilities provider’s stock valued at $4,329,416,000 after acquiring an additional 21,731,911 shares during the period. FMR LLC grew its position in shares of PG&E by 2.4% in the 3rd quarter. FMR LLC now owns 176,029,931 shares of the utilities provider’s stock valued at $2,839,363,000 after acquiring an additional 4,044,631 shares during the period. Capital International Investors grew its position in shares of PG&E by 7.1% in the 4th quarter. Capital International Investors now owns 116,093,791 shares of the utilities provider’s stock valued at $2,093,198,000 after acquiring an additional 7,681,566 shares during the period. Massachusetts Financial Services Co. MA grew its position in shares of PG&E by 1.2% in the 4th quarter. Massachusetts Financial Services Co. MA now owns 84,516,243 shares of the utilities provider’s stock valued at $1,523,828,000 after acquiring an additional 993,923 shares during the period. Finally, Third Point LLC grew its position in shares of PG&E by 1.8% in the 4th quarter. Third Point LLC now owns 57,860,000 shares of the utilities provider’s stock valued at $1,043,216,000 after acquiring an additional 1,000,000 shares during the period. Institutional investors 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.