JPMorgan Chase & Co. Raises PG&E (NYSE:PCG) Price Target to $19.00

PG&E (NYSE:PCG) had its target price raised by JPMorgan Chase & Co. from $18.00 to $19.00 in a research report report published on Tuesday, Benzinga reports. JPMorgan Chase & Co. currently has a neutral rating on the utilities provider’s stock.

Other equities research analysts have also recently issued research reports about the company. The Goldman Sachs Group initiated coverage on PG&E in a report on Wednesday, April 10th. They set a buy rating and a $21.00 price target on the stock. Barclays cut their price target on PG&E from $20.00 to $19.00 and set an overweight rating on the stock in a report on Monday, January 22nd. Finally, StockNews.com raised PG&E from a sell rating to a hold rating in a report on Thursday, February 1st. Four analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. Based on data from MarketBeat, the company has an average rating of Moderate Buy and a consensus price target of $18.89.

PG&E Stock Performance

Shares of NYSE PCG opened at $17.07 on Tuesday. The company has a quick ratio of 0.78, a current ratio of 0.83 and a debt-to-equity ratio of 2.04. The firm’s 50-day moving average price is $16.57 and its two-hundred day moving average price is $16.88. PG&E has a 52-week low of $14.71 and a 52-week high of $18.32. The stock has a market capitalization of $36.47 billion, a P/E ratio of 16.25 and a beta of 1.32.

PG&E (NYSE:PCG) last released its quarterly earnings results on Thursday, February 22nd. The utilities provider reported $0.47 earnings per share for the quarter, beating analysts’ consensus estimates of $0.46 by $0.01. The company had revenue of $7.04 billion for the quarter, compared to analysts’ expectations of $6.43 billion. PG&E had a return on equity of 10.84% and a net margin of 9.24%. During the same quarter in the previous year, the company posted $0.26 earnings per share. As a group, sell-side analysts forecast that PG&E will post 1.35 earnings per share for the current year.

PG&E Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, April 15th. Investors of record on Thursday, March 28th were paid a dividend of $0.01 per share. The ex-dividend date of this dividend was Wednesday, March 27th. This represents a $0.04 dividend on an annualized basis and a dividend yield of 0.23%. PG&E’s dividend payout ratio is presently 3.81%.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in the stock. Planned Solutions Inc. acquired a new position in PG&E in the fourth quarter worth approximately $37,000. AdvisorNet Financial Inc grew its position in PG&E by 470.6% in the third quarter. AdvisorNet Financial Inc now owns 2,442 shares of the utilities provider’s stock worth $39,000 after buying an additional 2,014 shares during the last quarter. Vima LLC acquired a new position in PG&E in the fourth quarter worth approximately $41,000. CVA Family Office LLC acquired a new position in PG&E in the fourth quarter worth approximately $43,000. Finally, Millburn Ridgefield Corp acquired a new position in PG&E in the third quarter worth approximately $44,000. Institutional investors and hedge funds own 78.56% of the company’s stock.

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.