PG&E Co. (NYSE:PCG) Receives $17.38 Consensus PT from Analysts

Shares of PG&E Co. (NYSE:PCGGet Rating) have been assigned an average recommendation of “Moderate Buy” from the ten analysts that are covering the stock, MarketBeat.com reports. Three analysts have rated the stock with a hold recommendation and four have issued a buy recommendation on the company. The average twelve-month price objective among brokers that have issued a report on the stock in the last year is $17.38.

PCG has been the topic of several recent analyst reports. StockNews.com assumed coverage on PG&E in a research note on Wednesday, October 12th. They issued a “hold” rating on the stock. Credit Suisse Group raised their price target on shares of PG&E from $16.00 to $17.00 and gave the stock an “outperform” rating in a report on Friday, October 28th. Royal Bank of Canada increased their price objective on shares of PG&E from $16.00 to $19.00 and gave the stock an “outperform” rating in a research report on Friday, October 7th. Morgan Stanley upped their target price on shares of PG&E from $12.50 to $14.00 and gave the stock an “equal weight” rating in a report on Friday, November 11th. Finally, Citigroup lifted their price objective on shares of PG&E from $14.00 to $19.00 in a research note on Friday, October 28th.

Insider Buying and Selling at PG&E

In related news, CEO Patricia K. Poppe sold 83,330 shares of PG&E stock in a transaction dated Thursday, September 8th. The stock was sold at an average price of $13.00, for a total transaction of $1,083,290.00. Following the completion of the transaction, the chief executive officer now owns 704,187 shares in the company, valued at $9,154,431. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In other PG&E news, CEO Patricia K. Poppe sold 83,330 shares of the business’s stock in a transaction on Thursday, September 8th. The shares were sold at an average price of $13.00, for a total transaction of $1,083,290.00. Following the transaction, the chief executive officer now directly owns 704,187 shares of the company’s stock, valued at approximately $9,154,431. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, major shareholder Pg&E Fire Victim Trust sold 35,000,000 shares of PG&E stock in a transaction that occurred on Tuesday, October 4th. The shares were sold at an average price of $13.65, for a total transaction of $477,750,000.00. Following the transaction, the insider now directly owns 342,743,590 shares in the company, valued at approximately $4,678,450,003.50. The disclosure for this sale can be found here. Insiders have sold a total of 70,083,330 shares of company stock worth $995,783,290 over the last 90 days. Insiders own 0.06% of the company’s stock.

Hedge Funds Weigh In On PG&E

Several institutional investors and hedge funds have recently bought and sold shares of the stock. Vanguard Group Inc. increased its holdings in shares of PG&E by 15.7% during the 3rd quarter. Vanguard Group Inc. now owns 219,490,888 shares of the utilities provider’s stock valued at $2,743,636,000 after acquiring an additional 29,840,608 shares during the last quarter. FMR LLC grew its holdings in PG&E by 38.6% in the second 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 period. Capital Research Global Investors boosted its position in PG&E by 7.2% in the first quarter. Capital Research Global Investors now owns 172,689,006 shares of the utilities provider’s stock worth $2,061,911,000 after purchasing an additional 11,607,143 shares during the last quarter. State Street Corp grew its holdings in PG&E by 121.3% during the 3rd quarter. State Street Corp now owns 86,054,530 shares of the utilities provider’s stock valued at $1,075,682,000 after buying an additional 47,168,210 shares in the last quarter. Finally, Price T Rowe Associates Inc. MD raised its stake in shares of PG&E by 4.7% during the third quarter. Price T Rowe Associates Inc. MD now owns 58,850,334 shares of the utilities provider’s stock worth $735,631,000 after acquiring an additional 2,634,653 shares in the last quarter. Institutional investors and hedge funds own 79.59% of the company’s stock.

PG&E Price Performance

NYSE:PCG opened at $15.24 on Tuesday. The firm’s 50-day simple moving average is $14.27 and its 200 day simple moving average is $12.40. PG&E has a 52 week low of $9.64 and a 52 week high of $15.60. The firm has a market cap of $37.57 billion, a price-to-earnings ratio of 18.59, a P/E/G ratio of 5.45 and a beta of 1.13. The company has a debt-to-equity ratio of 2.13, a quick ratio of 0.82 and a current ratio of 0.87.

PG&E Company Profile

(Get Rating)

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.

Further Reading

Analyst Recommendations for PG&E (NYSE:PCG)

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