Barclays Boosts PG&E (NYSE:PCG) Price Target to $21.00

PG&E (NYSE:PCG) had its target price upped by equities researchers at Barclays from $20.00 to $21.00 in a report issued on Friday, Benzinga reports. The firm currently has an “overweight” rating on the utilities provider’s stock. Barclays‘s price objective suggests a potential upside of 22.95% from the company’s current price.

A number of other equities research analysts also recently commented on PCG. The Goldman Sachs Group began coverage on PG&E in a research report on Wednesday, April 10th. They set a “buy” rating and a $21.00 price objective for the company. StockNews.com upgraded PG&E from a “sell” rating to a “hold” rating in a report on Thursday, February 1st. Finally, JPMorgan Chase & Co. raised their target price on shares of PG&E from $18.00 to $19.00 and gave the stock a “neutral” rating in a report on Tuesday. Four research analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $19.11.

PG&E Price Performance

Shares of PCG traded up $0.01 during midday trading on Friday, reaching $17.08. The stock had a trading volume of 1,428,338 shares, compared to its average volume of 15,451,537. The company has a debt-to-equity ratio of 2.04, a current ratio of 0.83 and a quick ratio of 0.78. The company has a market capitalization of $36.50 billion, a P/E ratio of 16.28 and a beta of 1.32. The firm’s 50 day moving average price is $16.57 and its 200-day moving average price is $16.88. PG&E has a 52 week low of $14.71 and a 52 week high of $18.32.

PG&E (NYSE:PCG) last posted its quarterly earnings data on Thursday, April 25th. The utilities provider reported $0.37 earnings per share for the quarter, beating the consensus estimate of $0.35 by $0.02. PG&E had a net margin of 9.24% and a return on equity of 10.84%. The company had revenue of $5.86 billion during the quarter, compared to analyst estimates of $6.60 billion. During the same quarter last year, the firm posted $0.29 EPS. The business’s revenue for the quarter was down 5.6% on a year-over-year basis. On average, analysts forecast that PG&E will post 1.35 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of PCG. Vanguard Group Inc. grew its stake 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 buying an additional 21,731,911 shares in the last quarter. FMR LLC grew its position in PG&E by 2.4% in the third quarter. FMR LLC now owns 176,029,931 shares of the utilities provider’s stock worth $2,839,363,000 after acquiring an additional 4,044,631 shares in the last quarter. Capital International Investors grew its position in PG&E by 7.1% in the fourth quarter. Capital International Investors now owns 116,093,791 shares of the utilities provider’s stock worth $2,093,198,000 after acquiring an additional 7,681,566 shares in the last quarter. Massachusetts Financial Services Co. MA increased its stake in shares of PG&E by 1.2% during the 4th quarter. Massachusetts Financial Services Co. MA now owns 84,516,243 shares of the utilities provider’s stock worth $1,523,828,000 after purchasing an additional 993,923 shares during the last quarter. Finally, Third Point LLC raised its holdings in shares of PG&E by 1.8% during 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 purchasing an additional 1,000,000 shares in the last quarter. 78.56% of the stock is owned by institutional investors and hedge funds.

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.