PG&E (NYSE:PCG) Now Covered by Jefferies Financial Group

Stock analysts at Jefferies Financial Group assumed coverage on shares of PG&E (NYSE:PCG) in a report issued on Monday, Briefing.com reports. The brokerage set a “buy” rating and a $24.00 price target on the utilities provider’s stock. Jefferies Financial Group’s target price suggests a potential upside of 22.26% from the stock’s previous close.

A number of other brokerages have also commented on PCG. Morgan Stanley boosted their price target on shares of PG&E from $19.00 to $20.00 and gave the company an “equal weight” rating in a research note on Wednesday, September 25th. Barclays upped their target price on shares of PG&E from $22.00 to $23.00 and gave the stock an “overweight” rating in a research note on Tuesday, July 30th. Wells Fargo & Company upped their target price on shares of PG&E from $21.00 to $22.00 and gave the stock an “overweight” rating in a research note on Friday, July 26th. UBS Group upped their target price on shares of PG&E from $24.00 to $26.00 and gave the stock a “buy” rating in a research note on Tuesday, September 3rd. Finally, Bank of America began coverage on shares of PG&E in a research note on Thursday, September 12th. They issued a “buy” rating and a $24.00 target price for the company. Three analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $22.00.

PG&E Stock Performance

NYSE:PCG opened at $19.63 on Monday. The firm has a market capitalization of $56.52 billion, a P/E ratio of 17.53, a P/E/G ratio of 1.50 and a beta of 1.01. The company has a fifty day moving average of $19.31 and a 200-day moving average of $18.23. The company has a quick ratio of 0.86, a current ratio of 0.90 and a debt-to-equity ratio of 1.99. PG&E has a twelve month low of $15.59 and a twelve month high of $20.65.

PG&E (NYSE:PCG) last announced its quarterly earnings results on Thursday, July 25th. The utilities provider reported $0.31 EPS for the quarter, beating analysts’ consensus estimates of $0.30 by $0.01. The business had revenue of $5.99 billion during the quarter, compared to analyst estimates of $5.86 billion. PG&E had a net margin of 10.22% and a return on equity of 11.76%. PG&E’s quarterly revenue was up 13.2% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.23 EPS. As a group, sell-side analysts anticipate that PG&E will post 1.36 EPS for the current year.

Insider Buying and Selling at PG&E

In other PG&E news, VP Stephanie N. Williams sold 38,601 shares of the company’s stock in a transaction dated Thursday, August 15th. The shares were sold at an average price of $18.32, for a total transaction of $707,170.32. Following the sale, the vice president now directly owns 19,114 shares of the company’s stock, valued at $350,168.48. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Insiders own 0.15% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of the business. Rothschild Investment LLC bought a new stake in shares of PG&E during the 2nd quarter valued at about $30,000. UMB Bank n.a. boosted its stake in shares of PG&E by 84.7% during the 2nd quarter. UMB Bank n.a. now owns 2,204 shares of the utilities provider’s stock valued at $38,000 after purchasing an additional 1,011 shares in the last quarter. Blue Trust Inc. boosted its stake in shares of PG&E by 77.0% during the 2nd quarter. Blue Trust Inc. now owns 2,361 shares of the utilities provider’s stock valued at $40,000 after purchasing an additional 1,027 shares in the last quarter. Plato Investment Management Ltd bought a new stake in shares of PG&E during the 2nd quarter valued at about $44,000. Finally, Massmutual Trust Co. FSB ADV boosted its stake in shares of PG&E by 48.8% during the 2nd quarter. Massmutual Trust Co. FSB ADV now owns 3,596 shares of the utilities provider’s stock valued at $63,000 after purchasing an additional 1,179 shares in the last quarter. 78.56% of the stock is currently owned by institutional investors.

PG&E Company Profile

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.