StockNews.com began coverage on shares of PG&E (NYSE:PCG – Free Report) in a research report report published on Thursday morning. The brokerage issued a hold rating on the utilities provider’s stock.
A number of other equities research analysts also recently commented on the stock. Morgan Stanley cut their target price on shares of PG&E from $15.00 to $14.00 and set an equal weight rating for the company in a research report on Wednesday, August 23rd. Barclays assumed coverage on PG&E in a report on Wednesday, August 23rd. They issued an overweight rating and a $19.00 target price on the stock. UBS Group raised PG&E from a neutral rating to a buy rating and raised their target price for the stock from $19.00 to $21.00 in a research report on Monday, August 7th. Guggenheim reduced their price target on shares of PG&E from $22.00 to $21.00 in a research report on Friday, July 7th. Finally, Mizuho reissued a buy rating and issued a $19.00 price objective on shares of PG&E in a report on Friday, September 15th. Three research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of Moderate Buy and an average target price of $19.14.
Read Our Latest Research Report on PCG
PG&E Stock Performance
PG&E (NYSE:PCG – Get Free Report) last posted its earnings results on Thursday, July 27th. The utilities provider reported $0.23 EPS for the quarter, missing analysts’ consensus estimates of $0.27 by ($0.04). PG&E had a return on equity of 9.79% and a net margin of 8.79%. The business had revenue of $5.29 billion during the quarter, compared to the consensus estimate of $5.49 billion. During the same period in the previous year, the business posted $0.25 EPS. The firm’s revenue for the quarter was up 3.4% on a year-over-year basis. Sell-side analysts expect that PG&E will post 1.21 EPS for the current fiscal year.
Insider Buying and Selling at PG&E
In related news, Director Cheryl F. Campbell sold 10,000 shares of the firm’s stock in a transaction on Tuesday, September 12th. The shares were sold at an average price of $16.90, for a total value of $169,000.00. Following the completion of the transaction, the director now directly owns 54,153 shares of the company’s stock, valued at $915,185.70. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. 0.06% of the stock is currently owned by insiders.
Institutional Investors Weigh In On PG&E
Large investors have recently added to or reduced their stakes in the stock. Strategy Asset Managers LLC purchased a new stake in shares of PG&E during the first quarter valued at $699,000. Texas Permanent School Fund Corp grew its stake in PG&E by 46.7% in the 1st quarter. Texas Permanent School Fund Corp now owns 335,665 shares of the utilities provider’s stock worth $5,428,000 after acquiring an additional 106,910 shares in the last quarter. Greenleaf Trust raised its stake in shares of PG&E by 5.2% during the first quarter. Greenleaf Trust now owns 16,814 shares of the utilities provider’s stock valued at $272,000 after acquiring an additional 828 shares in the last quarter. Wedmont Private Capital purchased a new stake in shares of PG&E in the second quarter valued at approximately $207,000. Finally, Cerity Partners LLC grew its stake in PG&E by 91.8% in the first quarter. Cerity Partners LLC now owns 279,731 shares of the utilities provider’s stock worth $9,633,000 after purchasing an additional 133,906 shares in the last quarter. 74.35% of the stock is owned by institutional investors.
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.
Featured Articles
- Five stocks we like better than PG&E
- Video Game Stocks: How to Invest in Gaming
- How To Find Value Stocks Using This Simple Filtering Method
- How to Buy Cheap Stocks Step by Step
- MarketBeat Week in Review – 10/2 – 10/6
- How to Invest in the Entertainment Industry
- Levi Strauss: A Bottom is in for Steady, Stable Dividend Payer
Receive News & Ratings for PG&E Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for PG&E and related companies with MarketBeat.com's FREE daily email newsletter.
