Barclays Has Lowered Expectations for PG&E (NYSE:PCG) Stock Price

PG&E (NYSE:PCG) had its target price cut by investment analysts at Barclays from $25.00 to $24.00 in a report issued on Tuesday,Benzinga reports. The firm presently has an “overweight” rating on the utilities provider’s stock. Barclays‘s target price suggests a potential upside of 25.00% from the stock’s previous close.

Several other analysts also recently weighed in on the company. Bank of America began coverage on PG&E in a report on Thursday, September 12th. They issued a “buy” rating and a $24.00 target price for the company. Mizuho increased their price objective on PG&E from $24.00 to $26.00 and gave the company an “outperform” rating in a report on Wednesday, November 27th. UBS Group raised their target price on shares of PG&E from $24.00 to $26.00 and gave the stock a “buy” rating in a research report on Tuesday, September 3rd. Jefferies Financial Group initiated coverage on shares of PG&E in a research report on Monday, October 14th. They issued a “buy” rating and a $24.00 price target for the company. Finally, Morgan Stanley raised their price objective 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. Two analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. According to MarketBeat, PG&E has a consensus rating of “Moderate Buy” and a consensus target price of $23.00.

PG&E Stock Down 2.6 %

Shares of NYSE PCG opened at $19.20 on Tuesday. The company has a quick ratio of 0.99, a current ratio of 1.04 and a debt-to-equity ratio of 2.02. The business’s 50 day moving average is $20.51 and its two-hundred day moving average is $19.28. PG&E has a 52-week low of $15.94 and a 52-week high of $21.72. The firm has a market cap of $50.21 billion, a price-to-earnings ratio of 15.00, a PEG ratio of 1.51 and a beta of 1.01.

PG&E (NYSE:PCG) last posted its quarterly earnings data 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 during the quarter, compared to analyst estimates of $6.58 billion. PG&E had a net margin of 11.11% and a return on equity of 12.51%. During the same quarter last year, the firm posted $0.24 earnings per share. The business’s revenue for the quarter was up .9% compared to the same quarter last year. Research analysts predict that PG&E will post 1.36 EPS for the current year.

Insider Buying and Selling

In other news, CEO Patricia K. Poppe sold 55,555 shares of PG&E stock in a transaction that occurred on Monday, December 2nd. The shares were 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 approximately $30,168,186.52. This trade represents a 3.67 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 0.15% of the stock is currently owned by corporate insiders.

Institutional Trading of PG&E

Several large investors have recently bought and sold shares of the company. Franklin Resources Inc. lifted its holdings in shares of PG&E by 4.1% in the third quarter. Franklin Resources Inc. now owns 17,116,725 shares of the utilities provider’s stock valued at $346,443,000 after purchasing an additional 681,369 shares in the last quarter. Tidal Investments LLC raised its position in shares of PG&E by 4.7% during the 3rd quarter. Tidal Investments LLC now owns 55,938 shares of the utilities provider’s stock worth $1,106,000 after purchasing an additional 2,527 shares during the last quarter. Wilmington Savings Fund Society FSB purchased a new stake in PG&E in the 3rd quarter valued at approximately $349,000. Sanctuary Advisors LLC grew its holdings in PG&E by 21.7% during the 3rd quarter. Sanctuary Advisors LLC now owns 87,919 shares of the utilities provider’s stock valued at $1,879,000 after buying an additional 15,648 shares during the last quarter. Finally, TD Private Client Wealth LLC increased its position in PG&E by 34.5% during the third quarter. TD Private Client Wealth LLC now owns 35,255 shares of the utilities provider’s stock worth $697,000 after buying an additional 9,043 shares in the last quarter. Institutional investors and hedge funds own 78.56% of the company’s stock.

PG&E Company Profile

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.