Analysts Set PG&E Co. (PCG) Price Target at $68.25

PG&E Co. (NYSE:PCG) has been given an average rating of “Buy” by the eleven ratings firms that are presently covering the company. Two investment analysts have rated the stock with a hold recommendation and nine have assigned a buy recommendation to the company. The average 12-month price objective among brokers that have updated their coverage on the stock in the last year is $68.25.

Several equities research analysts have recently commented on PCG shares. Zacks Investment Research raised shares of PG&E Co. from a “hold” rating to a “buy” rating and set a $68.00 price target for the company in a research report on Tuesday, January 24th. Jefferies Group LLC reduced their price target on shares of PG&E Co. from $68.50 to $65.00 and set a “buy” rating for the company in a research report on Friday, December 2nd. Royal Bank of Canada reaffirmed a “buy” rating and set a $70.00 price target on shares of PG&E Co. in a research report on Thursday, February 23rd. Finally, Barclays PLC upped their price target on shares of PG&E Co. from $63.00 to $65.00 and gave the company an “overweight” rating in a research report on Wednesday, February 8th.

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Several hedge funds and other institutional investors have recently made changes to their positions in the stock. Emerald Acquisition Ltd. increased its position in shares of PG&E Co. by 26.0% in the third quarter. Emerald Acquisition Ltd. now owns 2,255,620 shares of the company’s stock worth $137,971,000 after buying an additional 464,784 shares during the period. Rhumbline Advisers increased its position in shares of PG&E Co. by 5.6% in the third quarter. Rhumbline Advisers now owns 760,098 shares of the company’s stock worth $46,495,000 after buying an additional 40,193 shares during the period. Assetmark Inc. increased its position in shares of PG&E Co. by 1.7% in the third quarter. Assetmark Inc. now owns 1,739 shares of the company’s stock worth $106,000 after buying an additional 29 shares during the period. Toronto Dominion Bank increased its position in shares of PG&E Co. by 358.6% in the third quarter. Toronto Dominion Bank now owns 14,929 shares of the company’s stock worth $913,000 after buying an additional 11,674 shares during the period. Finally, Bank of New York Mellon Corp increased its position in shares of PG&E Co. by 0.4% in the third quarter. Bank of New York Mellon Corp now owns 3,799,005 shares of the company’s stock worth $232,387,000 after buying an additional 14,071 shares during the period. Institutional investors own 82.01% of the company’s stock.

PG&E Co. (NYSE:PCG) opened at 66.59 on Wednesday. PG&E Co. has a 1-year low of $56.39 and a 1-year high of $67.13. The firm’s 50 day moving average is $64.25 and its 200 day moving average is $61.53. The stock has a market capitalization of $33.81 billion, a P/E ratio of 23.95 and a beta of 0.21.

PG&E Co. (NYSE:PCG) last released its quarterly earnings results on Thursday, February 16th. The company reported $1.33 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $1.30 by $0.03. PG&E Co. had a net margin of 4.94% and a return on equity of 8.52%. During the same quarter last year, the company posted $0.50 earnings per share. On average, equities research analysts anticipate that PG&E Co. will post $3.67 earnings per share for the current year.

The business also recently disclosed a quarterly dividend, which will be paid on Saturday, April 15th. Investors of record on Friday, March 31st will be paid a dividend of $0.49 per share. The ex-dividend date of this dividend is Wednesday, March 29th. This represents a $1.96 dividend on an annualized basis and a dividend yield of 2.94%. PG&E Co.’s dividend payout ratio (DPR) is presently 117.37%.

PG&E Co. Company Profile

PG&E Corporation is a holding company. The Company’s primary operating subsidiary is Pacific Gas and Electric Company (the Utility), which operates in northern and central California. The Utility is engaged in the sale and delivery of electricity and natural gas to customers. The Utility generates electricity and provides electricity transmission and distribution services throughout its service territory in northern and central California to residential, commercial, industrial, and agricultural customers.

5 Day Chart for NYSE:PCG

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