PG&E (NYSE:PCG) Price Target Lowered to $22.00 at Barclays

PG&E (NYSE:PCG - Get Free Report) had its price target reduced by Barclays from $23.00 to $22.00 in a research report issued on Wednesday,Benzinga reports. The firm presently has an "overweight" rating on the utilities provider's stock. Barclays's target price indicates a potential upside of 28.88% from the company's current price.

Several other research firms also recently commented on PCG. BMO Capital Markets upped their target price on PG&E from $21.00 to $23.00 and gave the company an "outperform" rating in a research report on Tuesday, February 18th. Guggenheim cut PG&E from a "buy" rating to a "neutral" rating in a research report on Tuesday, February 18th. JPMorgan Chase & Co. reissued an "overweight" rating and issued a $22.00 target price on shares of PG&E in a research report on Wednesday, February 12th. UBS Group downgraded shares of PG&E from a "buy" rating to a "neutral" rating and cut their price objective for the company from $22.00 to $19.00 in a report on Wednesday, March 19th. Finally, Morgan Stanley lifted their price target on shares of PG&E from $16.50 to $17.50 and gave the company an "underweight" rating in a research report on Thursday, March 20th. One analyst has rated the stock with a sell rating, two have given a hold rating and eight have issued a buy rating to the company. Based on data from MarketBeat.com, PG&E currently has an average rating of "Moderate Buy" and an average price target of $21.95.

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PG&E Stock Up 0.9 %

NYSE:PCG traded up $0.15 on Wednesday, hitting $17.07. 4,710,941 shares of the company's stock were exchanged, compared to its average volume of 16,266,028. The firm has a 50-day moving average price of $16.35 and a 200-day moving average price of $18.42. PG&E has a 52 week low of $14.99 and a 52 week high of $21.72. The company has a debt-to-equity ratio of 1.86, a current ratio of 1.05 and a quick ratio of 1.00. The company has a market cap of $45.60 billion, a P/E ratio of 14.84, a price-to-earnings-growth ratio of 1.09 and a beta of 0.70.

PG&E (NYSE:PCG - Get Free Report) last announced its quarterly earnings results on Thursday, February 13th. The utilities provider reported $0.31 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.31. The business had revenue of $6.63 billion during the quarter, compared to the consensus estimate of $7.29 billion. PG&E had a return on equity of 10.94% and a net margin of 10.27%. During the same quarter last year, the firm posted $0.47 EPS. As a group, analysts expect that PG&E will post 1.49 EPS for the current fiscal year.

Insider Activity

In other news, EVP Carla J. Peterman sold 32,521 shares of the company's stock in a transaction on Tuesday, March 4th. The stock was sold at an average price of $16.37, for a total transaction of $532,368.77. Following the transaction, the executive vice president now owns 183,635 shares of the company's stock, valued at $3,006,104.95. This represents a 15.05 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Arno Lockheart Harris acquired 6,389 shares of the business's stock in a transaction that occurred on Thursday, February 20th. The stock was acquired at an average cost of $15.66 per share, with a total value of $100,051.74. Following the completion of the acquisition, the director now owns 14,864 shares in the company, valued at $232,770.24. This trade represents a 75.39 % increase in their position. The disclosure for this purchase can be found here. Insiders own 0.15% of the company's stock.

Institutional Trading of PG&E

Large investors have recently modified their holdings of the business. Versant Capital Management Inc increased its stake in PG&E by 68.3% in the 4th quarter. Versant Capital Management Inc now owns 1,543 shares of the utilities provider's stock worth $31,000 after purchasing an additional 626 shares during the period. Baker Tilly Wealth Management LLC boosted its stake in PG&E by 4.6% during the fourth quarter. Baker Tilly Wealth Management LLC now owns 16,337 shares of the utilities provider's stock worth $330,000 after acquiring an additional 715 shares in the last quarter. Continuum Advisory LLC boosted its position in shares of PG&E by 11.4% in the 3rd quarter. Continuum Advisory LLC now owns 7,501 shares of the utilities provider's stock worth $157,000 after purchasing an additional 769 shares in the last quarter. Level Four Advisory Services LLC grew its stake in shares of PG&E by 7.5% in the 4th quarter. Level Four Advisory Services LLC now owns 11,066 shares of the utilities provider's stock worth $223,000 after buying an additional 772 shares during the last quarter. Finally, Optiver Holding B.V. increased its holdings in shares of PG&E by 23.9% during the fourth quarter. Optiver Holding B.V. now owns 4,271 shares of the utilities provider's stock valued at $86,000 after acquiring an additional 825 shares in the last quarter. Institutional investors own 78.56% of the company's stock.

About PG&E

PG&E Corp. operates as 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.