JPMorgan Chase & Co. Reaffirms Overweight Rating for PG&E (NYSE:PCG)

PG&E (NYSE:PCG)‘s stock had its “overweight” rating reaffirmed by equities researchers at JPMorgan Chase & Co. in a research note issued to investors on Wednesday, MarketBeat.com reports. They currently have a $22.00 price objective on the utilities provider’s stock. JPMorgan Chase & Co.‘s target price would suggest a potential upside of 38.41% from the stock’s previous close.

Other equities research analysts also recently issued research reports about the company. UBS Group reduced their target price on PG&E from $24.00 to $22.00 and set a “buy” rating for the company in a report on Thursday, January 30th. 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 note on Wednesday, November 27th. Barclays lowered their target price on shares of PG&E from $24.00 to $23.00 and set an “overweight” rating on the stock in a research report on Monday, January 27th. Finally, BMO Capital Markets started coverage on shares of PG&E in a research report on Monday, January 13th. They set an “outperform” rating and a $21.00 price target for the company. One equities research analyst has rated the stock with a hold rating and ten have given a buy rating to the stock. Based on data from MarketBeat.com, PG&E currently has an average rating of “Moderate Buy” and a consensus target price of $22.36.

PG&E Stock Down 0.8 %

Shares of NYSE:PCG opened at $15.90 on Wednesday. The company has a market cap of $41.57 billion, a price-to-earnings ratio of 12.42, a PEG ratio of 1.09 and a beta of 0.99. PG&E has a fifty-two week low of $14.99 and a fifty-two week high of $21.72. The firm’s 50-day simple moving average is $18.12 and its 200-day simple moving average is $19.24. The company has a quick ratio of 0.99, a current ratio of 1.04 and a debt-to-equity ratio of 2.02.

PG&E (NYSE:PCG) last released its earnings results on Thursday, February 13th. The utilities provider reported $0.31 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.31. PG&E had a return on equity of 12.51% and a net margin of 11.11%. During the same quarter in the previous year, the business posted $0.47 EPS. As a group, equities research analysts predict that PG&E will post 1.36 earnings per share for the current year.

Insider Buying and Selling at PG&E

In other news, CEO Patricia K. Poppe sold 55,555 shares of the stock in a transaction dated Monday, December 2nd. The shares were sold at an average price of $20.66, for a total transaction of $1,147,766.30. Following the transaction, the chief executive officer now directly owns 1,460,222 shares in the company, valued at $30,168,186.52. This represents a 3.67 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. 0.15% of the stock is owned by insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the business. CANADA LIFE ASSURANCE Co grew its stake in shares of PG&E by 6.6% in the fourth quarter. CANADA LIFE ASSURANCE Co now owns 2,838,322 shares of the utilities provider’s stock valued at $57,299,000 after buying an additional 174,707 shares in the last quarter. NewEdge Advisors LLC grew its position in PG&E by 8.4% in the fourth quarter. NewEdge Advisors LLC now owns 201,369 shares of the utilities provider’s stock valued at $4,064,000 after acquiring an additional 15,535 shares in the last quarter. Ceredex Value Advisors LLC raised its stake in shares of PG&E by 13.2% during the fourth quarter. Ceredex Value Advisors LLC now owns 1,995,100 shares of the utilities provider’s stock valued at $40,261,000 after purchasing an additional 232,100 shares during the period. Jump Financial LLC lifted its position in shares of PG&E by 12.2% during the fourth quarter. Jump Financial LLC now owns 123,100 shares of the utilities provider’s stock worth $2,484,000 after purchasing an additional 13,362 shares in the last quarter. Finally, Guggenheim Capital LLC boosted its stake in shares of PG&E by 21.8% in the fourth quarter. Guggenheim Capital LLC now owns 174,923 shares of the utilities provider’s stock valued at $3,530,000 after purchasing an additional 31,286 shares during the period. 78.56% of the stock is owned by institutional investors and hedge funds.

PG&E Company Profile

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.