PG&E (NYSE:PCG) Given Overweight Rating at JPMorgan Chase & Co.

PG&E (NYSE:PCG)‘s stock had its “overweight” rating restated by equities research analysts at JPMorgan Chase & Co. in a report released on Wednesday,Benzinga reports. They presently have a $22.00 price objective on the utilities provider’s stock. JPMorgan Chase & Co.‘s price target points to a potential upside of 39.98% from the company’s previous close.

A number of other analysts also recently weighed in on PCG. Mizuho boosted their target price on shares of PG&E from $24.00 to $26.00 and gave the stock an “outperform” rating in a report on Wednesday, November 27th. UBS Group decreased their price objective on PG&E from $24.00 to $22.00 and set a “buy” rating on the stock in a research report on Thursday, January 30th. Barclays dropped their target price on PG&E from $24.00 to $23.00 and set an “overweight” rating for the company in a report on Monday, January 27th. Finally, BMO Capital Markets assumed coverage on PG&E in a report on Monday, January 13th. They set an “outperform” rating and a $21.00 price target on the stock. One research analyst has rated the stock with a hold rating and ten have given a buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $22.36.

PG&E Price Performance

NYSE PCG traded down $0.06 during trading on Wednesday, hitting $15.72. 1,706,286 shares of the stock traded hands, compared to its average volume of 28,247,410. The company has a quick ratio of 0.99, a current ratio of 1.04 and a debt-to-equity ratio of 2.02. The company has a market capitalization of $41.10 billion, a P/E ratio of 12.28, a price-to-earnings-growth ratio of 1.09 and a beta of 0.99. PG&E has a 12-month low of $14.99 and a 12-month high of $21.72. The firm has a 50-day simple moving average of $18.31 and a 200-day simple moving average of $19.28.

Insider Activity at PG&E

In other PG&E news, CEO Patricia K. Poppe sold 55,555 shares of the stock in a transaction dated Monday, December 2nd. The stock was sold at an average price of $20.66, for a total value of $1,147,766.30. Following the completion of 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 filing with the SEC, which can be accessed through the SEC website. 0.15% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On PG&E

A number of large investors have recently made changes to their positions in the stock. CWM LLC boosted its holdings in shares of PG&E by 71.7% in the 3rd quarter. CWM LLC now owns 66,971 shares of the utilities provider’s stock valued at $1,324,000 after acquiring an additional 27,965 shares during the last quarter. Livforsakringsbolaget Skandia Omsesidigt raised its stake in shares of PG&E by 392.3% during the 3rd quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 6,400 shares of the utilities provider’s stock valued at $127,000 after buying an additional 5,100 shares during the last quarter. Creative Planning lifted its holdings in shares of PG&E by 22.5% in the 3rd quarter. Creative Planning now owns 136,364 shares of the utilities provider’s stock valued at $2,696,000 after buying an additional 25,006 shares during the period. Teilinger Capital Ltd. acquired a new stake in PG&E during the third quarter worth about $13,839,000. Finally, nVerses Capital LLC purchased a new position in PG&E during the third quarter valued at approximately $1,066,000. 78.56% of the stock is owned by hedge funds and other institutional investors.

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.