Morgan Stanley Issues Positive Forecast for PG&E (NYSE:PCG) Stock Price

PG&E (NYSE:PCG) had its price target increased by stock analysts at Morgan Stanley from $16.50 to $17.50 in a note issued to investors on Thursday,Benzinga reports. The brokerage presently has an “underweight” rating on the utilities provider’s stock. Morgan Stanley’s price target would suggest a potential upside of 1.61% from the stock’s current price.

Other equities analysts also recently issued research reports about the stock. UBS Group downgraded shares of PG&E from a “buy” rating to a “neutral” rating and lowered their price target for the company from $22.00 to $19.00 in a report on Wednesday. BMO Capital Markets lifted their price target on shares of PG&E from $21.00 to $23.00 and gave the company an “outperform” rating in a report on Tuesday, February 18th. JPMorgan Chase & Co. reaffirmed an “overweight” rating and set a $22.00 price target on shares of PG&E in a report on Wednesday, February 12th. Barclays lowered their price target on shares of PG&E from $24.00 to $23.00 and set an “overweight” rating on the stock in a report on Monday, January 27th. Finally, 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. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and nine have issued a buy rating to the stock. Based on data from MarketBeat.com, PG&E currently has a consensus rating of “Moderate Buy” and an average price target of $22.05.

PG&E Stock Performance

NYSE PCG traded up $0.13 during trading hours on Thursday, hitting $17.22. 2,223,201 shares of the company’s stock traded hands, compared to its average volume of 15,049,474. The business’s fifty day moving average price is $16.21 and its two-hundred day moving average price is $18.82. The company has a current ratio of 1.05, a quick ratio of 1.00 and a debt-to-equity ratio of 1.86. The firm has a market capitalization of $46.01 billion, a P/E ratio of 14.99, a P/E/G ratio of 1.09 and a beta of 1.04. PG&E has a 52 week low of $14.99 and a 52 week high of $21.72.

PG&E (NYSE:PCG) last issued its quarterly earnings results on Thursday, February 13th. The utilities provider reported $0.31 earnings per share for the quarter, meeting the consensus estimate of $0.31. PG&E had a net margin of 10.27% and a return on equity of 10.94%. The business had revenue of $6.63 billion for the quarter, compared to the consensus estimate of $7.29 billion. During the same quarter in the previous year, the firm earned $0.47 earnings per share. Equities research analysts predict that PG&E will post 1.49 EPS for the current year.

Insider Buying and Selling at PG&E

In other PG&E news, EVP Carla J. Peterman sold 32,521 shares of the business’s stock in a transaction on Tuesday, March 4th. The shares were sold at an average price of $16.37, for a total transaction of $532,368.77. Following the transaction, the executive vice president now owns 183,635 shares in the company, valued at $3,006,104.95. The trade was a 15.05 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Arno Lockheart Harris acquired 6,389 shares of the business’s stock in a transaction on Thursday, February 20th. The shares were purchased at an average price of $15.66 per share, for a total transaction of $100,051.74. Following the transaction, the director now directly owns 14,864 shares of the company’s stock, valued at approximately $232,770.24. The trade was a 75.39 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Company insiders own 0.15% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the company. Versant Capital Management Inc grew its holdings in shares of PG&E by 68.3% in the fourth quarter. Versant Capital Management Inc now owns 1,543 shares of the utilities provider’s stock worth $31,000 after purchasing an additional 626 shares during the last quarter. Commerce Bank grew its holdings in shares of PG&E by 1.5% in the third quarter. Commerce Bank now owns 47,051 shares of the utilities provider’s stock worth $930,000 after purchasing an additional 712 shares during the last quarter. Baker Tilly Wealth Management LLC grew its holdings in shares of PG&E by 4.6% in the fourth quarter. Baker Tilly Wealth Management LLC now owns 16,337 shares of the utilities provider’s stock worth $330,000 after purchasing an additional 715 shares during the last quarter. Continuum Advisory LLC grew its holdings in shares of PG&E by 11.4% in the third quarter. Continuum Advisory LLC now owns 7,501 shares of the utilities provider’s stock worth $157,000 after purchasing an additional 769 shares during the last quarter. Finally, Level Four Advisory Services LLC grew its holdings in shares of PG&E by 7.5% in the fourth quarter. Level Four Advisory Services LLC now owns 11,066 shares of the utilities provider’s stock worth $223,000 after purchasing an additional 772 shares during the last quarter. Institutional investors own 78.56% of the company’s stock.

About PG&E

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.