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

PG&E (NYSE:PCG - Free Report) had its price target boosted by JPMorgan Chase & Co. from $18.00 to $19.00 in a research note released on Tuesday morning, Benzinga reports. JPMorgan Chase & Co. currently has a neutral rating on the utilities provider's stock.

Several other analysts also recently weighed in on the stock. The Goldman Sachs Group assumed coverage on shares of PG&E in a research report on Wednesday, April 10th. They issued a buy rating and a $21.00 price objective on the stock. Barclays lowered their target price on shares of PG&E from $20.00 to $19.00 and set an overweight rating on the stock in a research note on Monday, January 22nd. Finally, StockNews.com raised shares of PG&E from a sell rating to a hold rating in a research note on Thursday, February 1st. Four investment analysts have rated the stock with a hold rating and four have given a buy rating to the company's stock. According to MarketBeat, PG&E currently has an average rating of Moderate Buy and a consensus price target of $18.89.

PG&E Stock Performance

Shares of PG&E stock traded up $0.01 during trading hours on Tuesday, reaching $16.96. The company's stock had a trading volume of 9,629,840 shares, compared to its average volume of 15,697,475. The stock has a market cap of $36.24 billion, a P/E ratio of 16.15 and a beta of 1.32. The company's 50 day simple moving average is $16.55 and its 200 day simple moving average is $16.88. PG&E has a one year low of $14.71 and a one year high of $18.32. The company has a debt-to-equity ratio of 2.04, a quick ratio of 0.78 and a current ratio of 0.83.

PG&E (NYSE:PCG - Get Free Report) last issued its quarterly earnings data on Thursday, February 22nd. The utilities provider reported $0.47 earnings per share for the quarter, beating the consensus estimate of $0.46 by $0.01. The firm had revenue of $7.04 billion for the quarter, compared to the consensus estimate of $6.43 billion. PG&E had a net margin of 9.24% and a return on equity of 10.84%. During the same period last year, the firm posted $0.26 EPS. As a group, analysts expect that PG&E will post 1.35 EPS for the current fiscal year.

PG&E Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, April 15th. Stockholders of record on Thursday, March 28th were paid a $0.01 dividend. The ex-dividend date was Wednesday, March 27th. This represents a $0.04 annualized dividend and a dividend yield of 0.24%. PG&E's dividend payout ratio is currently 3.81%.

Hedge Funds Weigh In On PG&E

Several hedge funds have recently made changes to their positions in PCG. Planned Solutions Inc. acquired a new stake in shares of PG&E during the fourth quarter valued at approximately $37,000. AdvisorNet Financial Inc raised its holdings in shares of PG&E by 470.6% during the third quarter. AdvisorNet Financial Inc now owns 2,442 shares of the utilities provider's stock valued at $39,000 after acquiring an additional 2,014 shares during the period. Vima LLC acquired a new stake in shares of PG&E during the fourth quarter valued at approximately $41,000. CVA Family Office LLC acquired a new stake in shares of PG&E during the fourth quarter valued at approximately $43,000. Finally, Millburn Ridgefield Corp acquired a new stake in shares of PG&E during the third quarter valued at 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.