StockNews.com Begins Coverage on PG&E (NYSE:PCG)

StockNews.com began coverage on shares of PG&E (NYSE:PCG – Get Rating) in a research report released on Thursday morning. The brokerage issued a hold rating on the utilities provider’s stock.

Other equities analysts also recently issued research reports about the company. Royal Bank of Canada reissued an outperform rating and set a $20.00 target price on shares of PG&E in a research report on Friday, March 10th. Credit Suisse Group boosted their target price on PG&E from $18.00 to $19.00 and gave the company an outperform rating in a research report on Friday, February 24th. Jefferies Financial Group reissued a neutral rating and set a $17.00 target price on shares of PG&E in a research report on Tuesday, January 3rd. UBS Group downgraded PG&E from a buy rating to a neutral rating and set a $17.00 price objective on the stock. in a research report on Tuesday, January 3rd. Finally, Wells Fargo & Company upped their price objective on PG&E to $20.00 in a research report on Wednesday, December 14th. Five equities research analysts have rated the stock with a hold rating and four have given a buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of Hold and a consensus price target of $17.78.

PG&E Stock Performance

NYSE PCG opened at $16.10 on Thursday. The company has a market cap of $39.71 billion, a P/E ratio of 19.17, a P/E/G ratio of 5.31 and a beta of 1.10. The company has a debt-to-equity ratio of 2.07, a quick ratio of 0.76 and a current ratio of 0.81. The business’s 50 day moving average price is $15.80 and its 200-day moving average price is $15.02. PG&E has a fifty-two week low of $9.64 and a fifty-two week high of $16.83.

PG&E (NYSE:PCG – Get Rating) last released its earnings results on Thursday, February 23rd. The utilities provider reported $0.26 earnings per share for the quarter, missing the consensus estimate of $0.28 by ($0.02). The company had revenue of $5.37 billion for the quarter, compared to the consensus estimate of $5.70 billion. PG&E had a net margin of 8.37% and a return on equity of 10.55%. During the same period in the prior year, the firm posted $0.28 EPS. Sell-side analysts predict that PG&E will post 1.21 earnings per share for the current year.

Insider Transactions at PG&E

In other news, CEO Patricia K. Poppe sold 66,700 shares of the stock in a transaction on Friday, March 3rd. The stock was sold at an average price of $15.87, for a total transaction of $1,058,529.00. Following the transaction, the chief executive officer now owns 1,269,325 shares of the company’s stock, valued at approximately $20,144,187.75. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In other news, major shareholder Pg&E Fire Victim Trust sold 60,000,000 shares of the stock in a transaction on Monday, January 9th. The stock was sold at an average price of $15.26, for a total transaction of $915,600,000.00. Following the transaction, the insider now owns 187,743,590 shares of the company’s stock, valued at approximately $2,864,967,183.40. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CEO Patricia K. Poppe sold 66,700 shares of the stock in a transaction on Friday, March 3rd. The stock was sold at an average price of $15.87, for a total value of $1,058,529.00. Following the transaction, the chief executive officer now directly owns 1,269,325 shares in the company, valued at approximately $20,144,187.75. The disclosure for this sale can be found here. Corporate insiders own 0.06% of the company’s stock.

Hedge Funds Weigh In On PG&E

A number of hedge funds and other institutional investors have recently made changes to their positions in the company. Coastal Investment Advisors Inc. grew its position in shares of PG&E by 1.2% during the 3rd quarter. Coastal Investment Advisors Inc. now owns 60,803 shares of the utilities provider’s stock worth $760,000 after buying an additional 692 shares in the last quarter. Global Retirement Partners LLC lifted its stake in shares of PG&E by 11.0% during the 3rd quarter. Global Retirement Partners LLC now owns 7,242 shares of the utilities provider’s stock worth $108,000 after purchasing an additional 718 shares during the last quarter. Lindbrook Capital LLC lifted its stake in shares of PG&E by 5.4% during the 4th quarter. Lindbrook Capital LLC now owns 14,723 shares of the utilities provider’s stock worth $239,000 after purchasing an additional 758 shares during the last quarter. Lumbard & Kellner LLC lifted its stake in shares of PG&E by 3.1% during the 4th quarter. Lumbard & Kellner LLC now owns 26,003 shares of the utilities provider’s stock worth $423,000 after purchasing an additional 790 shares during the last quarter. Finally, IFP Advisors Inc lifted its stake in shares of PG&E by 3.4% during the 3rd quarter. IFP Advisors Inc now owns 24,495 shares of the utilities provider’s stock worth $1,026,000 after purchasing an additional 800 shares during the last quarter. Institutional investors own 83.63% of the company’s stock.

PG&E Company Profile

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PG&E Corp. is a holding company, which engages in generation, transmission, and distribution of electricity and natural gas to customers. It specializes in energy, utility, power, gas, electricity, solar and sustainability. The company was founded in 1995 and is headquartered in Oakland, CA.