Guggenheim Issues Positive Forecast for PG&E (NYSE:PCG) Stock Price

PG&E (NYSE:PCG - Get Free Report) had its price target lifted by stock analysts at Guggenheim from $16.00 to $17.00 in a research report issued to clients and investors on Friday,Benzinga reports. The brokerage presently has a "neutral" rating on the utilities provider's stock. Guggenheim's target price indicates a potential downside of 1.62% from the company's current price.

Several other equities analysts have also weighed in on PCG. Morgan Stanley restated an "underweight" rating on shares of PG&E in a report on Wednesday, April 23rd. UBS Group cut shares of PG&E from a "buy" rating to a "neutral" rating and reduced their price target for the stock from $22.00 to $19.00 in a research report on Wednesday, March 19th. Jefferies Financial Group increased their price target on shares of PG&E from $20.00 to $22.00 and gave the stock a "buy" rating in a research report on Wednesday, April 23rd. Barclays reduced their price target on shares of PG&E from $23.00 to $22.00 and set an "overweight" rating on the stock in a research report on Wednesday, April 9th. Finally, BMO Capital Markets reduced their price target on shares of PG&E from $23.00 to $22.00 and set an "outperform" rating on the stock in a research report on Monday, April 14th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and eight have assigned a buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $20.96.

PG&E Trading Up 0.8 %

NYSE:PCG traded up $0.14 on Friday, reaching $17.28. The stock had a trading volume of 10,084,438 shares, compared to its average volume of 16,411,292. The company has a market cap of $46.16 billion, a price-to-earnings ratio of 15.03, a P/E/G ratio of 1.09 and a beta of 0.70. PG&E has a 12-month low of $14.99 and a 12-month 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 firm's fifty day moving average is $16.68 and its two-hundred day moving average is $18.25.

PG&E (NYSE:PCG - Get Free Report) last announced its quarterly earnings data on Thursday, April 24th. The utilities provider reported $0.33 earnings per share for the quarter, missing the consensus estimate of $0.35 by ($0.02). The company had revenue of $5.98 billion for the quarter, compared to analysts' expectations of $6.23 billion. PG&E had a return on equity of 10.94% and a net margin of 10.27%. The company's revenue was up 2.1% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.37 earnings per share. Equities analysts expect that PG&E will post 1.49 EPS for the current fiscal year.

Insider Buying and Selling at PG&E

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

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in PCG. Versant Capital Management Inc raised its holdings in PG&E by 68.3% during 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 last quarter. True Wealth Design LLC increased its stake in shares of PG&E by 1,233.6% in the 4th quarter. True Wealth Design LLC now owns 1,827 shares of the utilities provider's stock valued at $37,000 after acquiring an additional 1,690 shares during the last quarter. Colonial Trust Co SC increased its stake in shares of PG&E by 563.0% in the 4th quarter. Colonial Trust Co SC now owns 1,916 shares of the utilities provider's stock valued at $39,000 after acquiring an additional 1,627 shares during the last quarter. Deseret Mutual Benefit Administrators increased its stake in shares of PG&E by 45.0% in the 1st quarter. Deseret Mutual Benefit Administrators now owns 2,173 shares of the utilities provider's stock valued at $37,000 after acquiring an additional 674 shares during the last quarter. Finally, Golden State Wealth Management LLC increased its stake in shares of PG&E by 431.2% in the 1st quarter. Golden State Wealth Management LLC now owns 3,469 shares of the utilities provider's stock valued at $60,000 after acquiring an additional 2,816 shares during the last quarter. 78.56% of the stock is owned by institutional investors.

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.