PG&E (NYSE:PCG) Price Target Raised to $15.00 at UBS Group
PG&E (NYSE:PCG) had its price target hoisted by investment analysts at UBS Group from $9.00 to $15.00 in a note issued to investors on Friday, BenzingaRatingsTable reports. The firm currently has a “neutral” rating on the utilities provider’s stock. UBS Group’s price target would indicate a potential upside of 9.25% from the stock’s previous close.
Several other research firms also recently issued reports on PCG. Morgan Stanley decreased their price objective on shares of PG&E from $23.00 to $16.00 and set an “equal weight” rating on the stock in a report on Wednesday, October 9th. ValuEngine downgraded shares of PG&E from a “sell” rating to a “strong sell” rating in a research report on Tuesday, January 14th. Cfra upgraded shares of PG&E from a “sell” rating to a “hold” rating in a research report on Thursday. Wolfe Research restated a “hold” rating and set a $12.00 price target on shares of PG&E in a research report on Wednesday, December 18th. Finally, Wells Fargo & Co reiterated a “hold” rating on shares of PG&E in a report on Monday, October 28th. One investment analyst has rated the stock with a sell rating, eleven have assigned a hold rating and one has issued a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and a consensus target price of $15.44.
PG&E stock opened at $13.73 on Friday. PG&E has a 12 month low of $3.55 and a 12 month high of $25.19. The stock has a market capitalization of $6.64 billion, a PE ratio of -0.66, a price-to-earnings-growth ratio of 1.23 and a beta of 0.55. The company has a debt-to-equity ratio of 0.21, a current ratio of 1.79 and a quick ratio of 1.69. The business has a 50 day simple moving average of $11.17 and a 200-day simple moving average of $11.55.
Several institutional investors have recently added to or reduced their stakes in PCG. Marshall Wace North America L.P. purchased a new position in shares of PG&E in the second quarter worth about $843,000. UBS Asset Management Americas Inc. grew its stake in PG&E by 3.3% during the 2nd quarter. UBS Asset Management Americas Inc. now owns 759,079 shares of the utilities provider’s stock valued at $17,398,000 after acquiring an additional 24,147 shares in the last quarter. Nuveen Asset Management LLC purchased a new stake in PG&E during the 2nd quarter valued at about $53,837,000. Ladenburg Thalmann Financial Services Inc. raised its holdings in PG&E by 24.3% in the 2nd quarter. Ladenburg Thalmann Financial Services Inc. now owns 57,943 shares of the utilities provider’s stock valued at $1,330,000 after acquiring an additional 11,313 shares during the last quarter. Finally, Steadfast Capital Management LP raised its holdings in PG&E by 4.8% in the 2nd quarter. Steadfast Capital Management LP now owns 7,042,258 shares of the utilities provider’s stock valued at $161,409,000 after acquiring an additional 324,593 shares during the last quarter. 89.66% of the stock is owned by institutional investors and hedge funds.
PG&E Company Profile
PG&E Corporation, through its subsidiary, Pacific Gas and Electric Company, engages in the sale and delivery of electricity and natural gas to residential, commercial, industrial, and agricultural customers in northern and central California, the United States. The company's electricity distribution network consists of approximately 107,000 circuit miles of distribution lines, 50 transmission switching substations, and 769 distribution substations; and electricity transmission network comprises approximately 18,000 circuit miles of interconnected transmission lines and 84 electric transmission substations.
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