PG&E (PCG) PT Raised to $63.00 at Morgan Stanley

PG&E (NYSE:PCG) had its price objective lifted by Morgan Stanley from $59.00 to $63.00 in a research report report published on Monday morning. Morgan Stanley currently has an overweight rating on the utilities provider’s stock.

PCG has been the topic of a number of other reports. Deutsche Bank restated a buy rating and set a $61.00 target price on shares of PG&E in a research report on Thursday, December 21st. Wells Fargo lowered shares of PG&E from an outperform rating to a market perform rating in a research report on Monday, December 18th. Zacks Investment Research upgraded shares of PG&E from a hold rating to a buy rating and set a $49.00 price objective on the stock in a research report on Friday, March 23rd. Mizuho reiterated a hold rating and issued a $46.00 price objective on shares of PG&E in a research report on Thursday, April 5th. Finally, ValuEngine lowered shares of PG&E from a buy rating to a hold rating in a research report on Sunday, December 31st. One analyst has rated the stock with a sell rating, twelve have issued a hold rating and seven have assigned a buy rating to the company. PG&E currently has an average rating of Hold and an average target price of $56.73.

Shares of PCG opened at $46.50 on Monday. The company has a debt-to-equity ratio of 0.91, a quick ratio of 0.81 and a current ratio of 0.88. The company has a market cap of $24,100.55, a PE ratio of 12.64, a price-to-earnings-growth ratio of 2.98 and a beta of -0.01. PG&E has a 12-month low of $37.30 and a 12-month high of $71.57.

PG&E (NYSE:PCG) last announced its earnings results on Friday, February 9th. The utilities provider reported $0.63 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.69 by ($0.06). The business had revenue of $4.10 billion for the quarter, compared to analysts’ expectations of $4.83 billion. PG&E had a return on equity of 9.93% and a net margin of 9.69%. During the same quarter last year, the business posted $1.33 earnings per share. analysts anticipate that PG&E will post 3.81 earnings per share for the current year.

In other PG&E news, EVP John R. Simon sold 3,211 shares of the firm’s stock in a transaction on Tuesday, March 6th. The stock was sold at an average price of $41.93, for a total value of $134,637.23. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, COO Nickolas Stavropoulos sold 4,728 shares of the firm’s stock in a transaction on Tuesday, March 6th. The shares were sold at an average price of $41.93, for a total value of $198,245.04. Following the completion of the sale, the chief operating officer now directly owns 82,830 shares of the company’s stock, valued at approximately $3,473,061.90. The disclosure for this sale can be found here. In the last three months, insiders sold 8,875 shares of company stock valued at $372,129. 0.15% of the stock is owned by corporate insiders.

A number of institutional investors have recently added to or reduced their stakes in the business. Xact Kapitalforvaltning AB lifted its holdings in PG&E by 13.1% in the fourth quarter. Xact Kapitalforvaltning AB now owns 47,504 shares of the utilities provider’s stock valued at $2,130,000 after acquiring an additional 5,512 shares during the period. J. Goldman & Co LP acquired a new stake in PG&E in the fourth quarter valued at $13,087,000. Compagnie Lombard Odier SCmA acquired a new stake in PG&E in the fourth quarter valued at $142,000. Banco de Sabadell S.A acquired a new stake in PG&E in the fourth quarter valued at $2,245,000. Finally, 683 Capital Management LLC acquired a new stake in PG&E in the fourth quarter valued at $33,623,000. 81.06% of the stock is owned by institutional investors.

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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 residential, commercial, industrial, and agricultural customers in northern and central California, the United States. The company's electricity distribution network consists of approximately 107,200 circuit miles of distribution lines, 59 transmission switching substations, and 605 distribution substations; and electricity transmission network comprises approximately 19,200 circuit miles of interconnected transmission lines and 92 electric transmission substations.

Analyst Recommendations for PG&E (NYSE:PCG)

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