PG&E (NYSE:PCG) PT Raised to $21.00 at Barclays

PG&E (NYSE:PCG - Get Free Report) had its price target lifted by research analysts at Barclays from $20.00 to $21.00 in a report issued on Friday, Benzinga reports. The firm currently has an "overweight" rating on the utilities provider's stock. Barclays's target price suggests a potential upside of 23.31% from the company's current price.

Several other research firms have also recently weighed in on PCG. The Goldman Sachs Group started coverage on PG&E in a research report on Wednesday, April 10th. They set a "buy" rating and a $21.00 price objective on the stock. StockNews.com upgraded PG&E from a "sell" rating to a "hold" rating in a research report on Thursday, February 1st. Finally, JPMorgan Chase & Co. increased their price objective on PG&E from $18.00 to $19.00 and gave the stock a "neutral" rating in a research report on Tuesday. 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 data from MarketBeat, PG&E presently has a consensus rating of "Moderate Buy" and an average price target of $19.11.

PG&E Stock Performance

PCG traded down $0.04 during trading hours on Friday, reaching $17.03. The company's stock had a trading volume of 13,459,180 shares, compared to its average volume of 15,607,474. PG&E has a 52 week low of $14.71 and a 52 week high of $18.32. The company's 50-day moving average is $16.58 and its 200-day moving average is $16.89. The company has a debt-to-equity ratio of 2.04, a quick ratio of 0.78 and a current ratio of 0.83. The firm has a market cap of $36.39 billion, a PE ratio of 16.22 and a beta of 1.32.

PG&E (NYSE:PCG - Get Free Report) last posted its quarterly earnings results on Thursday, April 25th. The utilities provider reported $0.37 earnings per share for the quarter, beating analysts' consensus estimates of $0.35 by $0.02. PG&E had a return on equity of 10.84% and a net margin of 9.24%. The business had revenue of $5.86 billion for the quarter, compared to analysts' expectations of $6.60 billion. During the same quarter in the prior year, the business earned $0.29 EPS. The firm's revenue for the quarter was down 5.6% on a year-over-year basis. On average, equities analysts forecast that PG&E will post 1.35 EPS for the current year.

Hedge Funds Weigh In On PG&E

Several institutional investors and hedge funds have recently bought and sold shares of PCG. Norges Bank purchased a new position in PG&E during the fourth quarter valued at $394,285,000. Vanguard Group Inc. lifted its position in shares of PG&E by 8.8% in the third quarter. Vanguard Group Inc. now owns 268,407,694 shares of the utilities provider's stock worth $4,329,416,000 after buying an additional 21,731,911 shares in the last quarter. Massachusetts Financial Services Co. MA raised its position in PG&E by 27.8% during the third quarter. Massachusetts Financial Services Co. MA now owns 83,522,320 shares of the utilities provider's stock valued at $1,347,215,000 after purchasing an additional 18,180,432 shares during the period. Balyasny Asset Management L.P. purchased a new stake in PG&E during the fourth quarter valued at approximately $142,612,000. Finally, Capital International Investors grew its stake in PG&E by 7.1% in the fourth quarter. Capital International Investors now owns 116,093,791 shares of the utilities provider's stock worth $2,093,198,000 after purchasing an additional 7,681,566 shares in the last quarter. 78.56% of the stock is currently owned by institutional investors.

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.