PG&E (NYSE:PCG) Reaches New 1-Year Low – Should You Sell?

PG&E Co. (NYSE:PCG) shares hit a new 52-week low during trading on Tuesday . The company traded as low as $15.94 and last traded at $16.12, with a volume of 3695419 shares trading hands. The stock had previously closed at $16.22.

Wall Street Analyst Weigh In

Several equities research analysts recently weighed in on the stock. Jefferies Financial Group initiated coverage on shares of PG&E in a report on Monday, October 14th. They issued a “buy” rating and a $24.00 price objective for the company. Barclays dropped their target price on PG&E from $25.00 to $24.00 and set an “overweight” rating on the stock in a report on Tuesday, December 17th. Mizuho increased their price target on PG&E from $24.00 to $26.00 and gave the company an “outperform” rating in a research note on Wednesday, November 27th. BMO Capital Markets began coverage on PG&E in a research note on Monday. They issued an “outperform” rating and a $21.00 price objective on the stock. Finally, Morgan Stanley lifted their target price on PG&E from $19.00 to $20.00 and gave the stock an “equal weight” rating in a report on Wednesday, September 25th. Two analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. According to data from MarketBeat, PG&E presently has an average rating of “Moderate Buy” and an average target price of $22.64.

PG&E Stock Performance

The firm has a 50 day moving average price of $20.28 and a 200-day moving average price of $19.49. The company has a debt-to-equity ratio of 2.02, a quick ratio of 0.99 and a current ratio of 1.04. The company has a market cap of $42.73 billion, a P/E ratio of 12.77, a P/E/G ratio of 1.51 and a beta of 0.98.

PG&E (NYSE:PCG) last posted its earnings results 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 net margin of 11.11% and a return on equity of 12.51%. The business had revenue of $5.94 billion for the quarter, compared to analyst estimates of $6.58 billion. During the same period last year, the business posted $0.24 EPS. PG&E’s revenue was up .9% compared to the same quarter last year. On average, research analysts predict that PG&E Co. will post 1.36 EPS for the current year.

PG&E Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, January 15th. Investors of record on Tuesday, December 31st will be paid a $0.025 dividend. The ex-dividend date is Tuesday, December 31st. This represents a $0.10 dividend on an annualized basis and a yield of 0.61%. This is a boost from PG&E’s previous quarterly dividend of $0.01. PG&E’s payout ratio is presently 7.81%.

Insider Buying and Selling

In other PG&E news, CEO Patricia K. Poppe sold 55,555 shares of PG&E stock in a transaction on 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 completion of the sale, the chief executive officer now owns 1,460,222 shares of the company’s stock, valued at approximately $30,168,186.52. The trade was a 3.67 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 0.15% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On PG&E

A number of institutional investors have recently made changes to their positions in the stock. Versant Capital Management Inc boosted its holdings in PG&E by 68.3% during the fourth quarter. Versant Capital Management Inc now owns 1,543 shares of the utilities provider’s stock worth $31,000 after buying an additional 626 shares during the last quarter. Plato Investment Management Ltd acquired a new position in shares of PG&E in the 2nd quarter valued at approximately $44,000. Blue Trust Inc. increased its stake in PG&E by 77.7% during the 3rd quarter. Blue Trust Inc. now owns 4,195 shares of the utilities provider’s stock worth $83,000 after purchasing an additional 1,834 shares in the last quarter. William B. Walkup & Associates Inc. acquired a new stake in PG&E during the 2nd quarter worth approximately $74,000. Finally, Catalyst Capital Advisors LLC lifted its stake in PG&E by 98.5% in the third quarter. Catalyst Capital Advisors LLC now owns 4,340 shares of the utilities provider’s stock valued at $86,000 after buying an additional 2,154 shares in the last quarter. 78.56% of the stock is owned by institutional investors and hedge funds.

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.