PG&E (NYSE:PCG) Sets New 1-Year Low - Here's What Happened

PG&E Co. (NYSE:PCG - Get Free Report) reached a new 52-week low on Monday . The company traded as low as $13.49 and last traded at $13.57, with a volume of 34885135 shares changing hands. The stock had previously closed at $13.64.

Analysts Set New Price Targets

A number of research firms have weighed in on PCG. Evercore ISI lifted their price objective on PG&E from $15.00 to $17.00 and gave the company an "in-line" rating in a report on Monday, April 28th. Mizuho lifted their price objective on PG&E from $20.00 to $21.00 and gave the company an "outperform" rating in a report on Monday, May 19th. Barclays decreased their price objective on PG&E from $23.00 to $22.00 and set an "overweight" rating on the stock in a report on Wednesday, April 9th. Guggenheim lifted their target price on shares of PG&E from $16.00 to $17.00 and gave the company a "neutral" rating in a research note on Friday, April 25th. Finally, BMO Capital Markets reduced their target price on PG&E from $23.00 to $22.00 and set an "outperform" rating on the stock in a report on Monday, April 14th. One analyst has rated the stock with a sell rating, three have issued a hold rating and seven have given a buy rating to the company's stock. Based on data from MarketBeat.com, PG&E currently has an average rating of "Moderate Buy" and a consensus price target of $20.73.

PG&E Stock Performance

The firm has a fifty day simple moving average of $16.72 and a 200-day simple moving average of $17.25. 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 stock has a market cap of $36.30 billion, a price-to-earnings ratio of 11.80, a P/E/G ratio of 1.09 and a beta of 0.60.

PG&E (NYSE:PCG - Get Free Report) last posted its quarterly earnings data on Thursday, April 24th. The utilities provider reported $0.33 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.35 by ($0.02). PG&E had a return on equity of 10.94% and a net margin of 10.27%. The firm had revenue of $5.98 billion for the quarter, compared to analyst estimates of $6.23 billion. During the same period in the prior year, the company posted $0.37 EPS. The firm's quarterly revenue was up 2.1% compared to the same quarter last year. Analysts forecast that PG&E Co. will post 1.49 EPS for the current fiscal year.

PG&E Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, July 15th. Shareholders of record on Monday, June 30th will be given a dividend of $0.025 per share. This represents a $0.10 annualized dividend and a dividend yield of 0.74%. The ex-dividend date of this dividend is Monday, June 30th. PG&E's payout ratio is 9.17%.

Insider Buying and Selling at PG&E

In other PG&E news, EVP Carla J. Peterman sold 32,519 shares of the company's stock in a transaction on Tuesday, April 29th. The shares were sold at an average price of $17.30, for a total transaction of $562,578.70. Following the completion of the sale, the executive vice president now owns 151,116 shares in the company, valued at approximately $2,614,306.80. The trade was a 17.71% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Corporate insiders own 0.14% of the company's stock.

Institutional Trading of PG&E

Institutional investors and hedge funds have recently made changes to their positions in the business. Vanguard Group Inc. increased its position in shares of PG&E by 1.2% in the 1st quarter. Vanguard Group Inc. now owns 257,285,352 shares of the utilities provider's stock valued at $4,420,162,000 after buying an additional 2,926,384 shares in the last quarter. Geode Capital Management LLC increased its position in shares of PG&E by 4.3% in the 4th quarter. Geode Capital Management LLC now owns 51,988,553 shares of the utilities provider's stock valued at $1,046,462,000 after buying an additional 2,151,494 shares in the last quarter. Capital Research Global Investors increased its position in shares of PG&E by 70.3% in the 4th quarter. Capital Research Global Investors now owns 46,805,768 shares of the utilities provider's stock valued at $944,540,000 after buying an additional 19,317,171 shares in the last quarter. Norges Bank bought a new stake in shares of PG&E in the 4th quarter valued at $591,625,000. Finally, Northern Trust Corp increased its position in shares of PG&E by 4.3% in the 1st quarter. Northern Trust Corp now owns 19,944,322 shares of the utilities provider's stock valued at $342,643,000 after buying an additional 818,377 shares in the last quarter. Institutional investors own 78.56% of the company's stock.

PG&E Company Profile

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.

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