PG&E (NYSE:PCG) Given New $24.00 Price Target at UBS Group

PG&E (NYSE:PCG - Get Free Report) had its price objective reduced by analysts at UBS Group from $26.00 to $24.00 in a note issued to investors on Thursday,Benzinga reports. The brokerage presently has a "buy" rating on the utilities provider's stock. UBS Group's price target would indicate a potential upside of 23.58% from the stock's previous close.

Other equities analysts also recently issued research reports about the company. Morgan Stanley lifted their price objective on PG&E from $19.00 to $20.00 and gave the company an "equal weight" rating in a research report on Wednesday, September 25th. Barclays reduced their price target on shares of PG&E from $25.00 to $24.00 and set an "overweight" rating on the stock in a research report on Tuesday. Mizuho raised their price objective on shares of PG&E from $24.00 to $26.00 and gave the company an "outperform" rating in a research report on Wednesday, November 27th. Jefferies Financial Group began coverage on shares of PG&E in a research note on Monday, October 14th. They issued a "buy" rating and a $24.00 target price for the company. Finally, Bank of America initiated coverage on shares of PG&E in a research note on Thursday, September 12th. They set a "buy" rating and a $24.00 price target on the stock. Two analysts have rated the stock with a hold rating and nine have given a buy rating to the company's stock. According to data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average target price of $22.80.

PG&E Price Performance

Shares of PG&E stock traded up $0.22 during midday trading on Thursday, hitting $19.42. 17,665,582 shares of the company were exchanged, compared to its average volume of 14,319,395. The firm has a 50 day simple moving average of $20.51 and a 200-day simple moving average of $19.28. The company has a debt-to-equity ratio of 2.02, a current ratio of 1.04 and a quick ratio of 0.99. The firm has a market cap of $50.79 billion, a P/E ratio of 15.17, a PEG ratio of 1.51 and a beta of 1.01. PG&E has a 52 week low of $15.94 and a 52 week high of $21.72.

PG&E (NYSE:PCG - Get Free Report) last issued its quarterly earnings data on Thursday, November 7th. The utilities provider reported $0.37 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.32 by $0.05. PG&E had a return on equity of 12.51% and a net margin of 11.11%. The company had revenue of $5.94 billion during the quarter, compared to analysts' expectations of $6.58 billion. During the same period last year, the business earned $0.24 earnings per share. The business's revenue was up .9% on a year-over-year basis. Research analysts forecast that PG&E will post 1.36 earnings per share for the current year.

Insider Buying and Selling at PG&E

In other PG&E news, CEO Patricia K. Poppe sold 55,555 shares of the stock in a transaction on Monday, December 2nd. The shares were sold at an average price of $20.66, for a total value of $1,147,766.30. Following the sale, the chief executive officer now directly owns 1,460,222 shares in the company, valued at approximately $30,168,186.52. This trade represents a 3.67 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Corporate insiders own 0.15% of the company's stock.

Hedge Funds Weigh In On PG&E

Several institutional investors and hedge funds have recently made changes to their positions in PCG. Rothschild Investment LLC acquired a new stake in PG&E during the 2nd quarter worth approximately $30,000. UMB Bank n.a. raised its holdings in shares of PG&E by 84.7% during the second quarter. UMB Bank n.a. now owns 2,204 shares of the utilities provider's stock worth $38,000 after acquiring an additional 1,011 shares during the period. Blue Trust Inc. lifted its position in PG&E by 77.0% in the 2nd quarter. Blue Trust Inc. now owns 2,361 shares of the utilities provider's stock valued at $40,000 after acquiring an additional 1,027 shares in the last quarter. Plato Investment Management Ltd acquired a new position in PG&E in the 2nd quarter worth $44,000. Finally, Crewe Advisors LLC increased its holdings in PG&E by 243.0% during the 2nd quarter. Crewe Advisors LLC now owns 4,041 shares of the utilities provider's stock worth $71,000 after purchasing an additional 2,863 shares in the last quarter. Institutional investors and hedge funds own 78.56% of the company's stock.

About PG&E

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.