Morgan Stanley Analysts Give PG&E (PCG) a $62.00 Price Target

Morgan Stanley set a $62.00 price objective on PG&E (NYSE:PCG) in a research note released on Tuesday morning. The brokerage currently has a buy rating on the utilities provider’s stock.

Other equities analysts also recently issued research reports about the company. UBS Group increased their price target on PG&E from $45.00 to $47.00 and gave the stock a neutral rating in a research report on Tuesday. JPMorgan Chase & Co. increased their price target on PG&E from $50.00 to $51.00 and gave the stock a buy rating in a research report on Tuesday, April 10th. ValuEngine downgraded PG&E from a buy rating to a hold rating in a research report on Friday, February 2nd. Zacks Investment Research downgraded PG&E from a buy rating to a hold rating in a research report on Tuesday, April 24th. Finally, Wells Fargo & Co reissued a market perform rating and set a $45.00 price target (down previously from $60.00) on shares of PG&E in a research report on Monday, February 12th. Two research analysts have rated the stock with a sell rating, eleven have issued a hold rating and six have given a buy rating to the company’s stock. The company presently has an average rating of Hold and a consensus price target of $55.85.

PG&E opened at $43.33 on Tuesday, according to MarketBeat. PG&E has a 12-month low of $37.30 and a 12-month high of $71.57. The company has a debt-to-equity ratio of 0.87, a quick ratio of 0.78 and a current ratio of 0.85. The firm has a market cap of $21.87 billion, a PE ratio of 11.77, a PEG ratio of 2.71 and a beta of -0.03.

PG&E (NYSE:PCG) last posted its quarterly earnings results on Thursday, May 3rd. The utilities provider reported $0.91 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.04 by ($0.13). PG&E had a return on equity of 9.38% and a net margin of 9.02%. The firm had revenue of $4.06 billion for the quarter, compared to the consensus estimate of $4.23 billion. During the same period in the previous year, the company posted $1.06 EPS. equities analysts expect that PG&E will post 3.79 EPS for the current year.

In other PG&E news, SVP Julie Kane sold 936 shares of the stock in a transaction dated Tuesday, March 6th. The stock was sold at an average price of $41.93, for a total value of $39,246.48. Following the completion of the sale, the senior vice president now directly owns 17,602 shares in the company, valued at $738,051.86. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, COO Nickolas Stavropoulos sold 4,728 shares of the stock in a transaction dated Tuesday, March 6th. The shares were sold at an average price of $41.93, for a total value of $198,245.04. Following the completion of the sale, the chief operating officer now owns 82,830 shares of the company’s stock, valued at $3,473,061.90. The disclosure for this sale can be found here. Insiders have sold a total of 8,875 shares of company stock valued at $372,129 over the last 90 days. 0.15% of the stock is currently owned by company insiders.

A number of institutional investors have recently added to or reduced their stakes in PCG. Focused Wealth Management Inc purchased a new stake in PG&E in the fourth quarter valued at about $108,000. Summit Trail Advisors LLC raised its stake in PG&E by 5,047.8% in the first quarter. Summit Trail Advisors LLC now owns 107,588 shares of the utilities provider’s stock valued at $108,000 after buying an additional 105,498 shares during the last quarter. Bronfman E.L. Rothschild L.P. raised its stake in PG&E by 122.1% in the fourth quarter. Bronfman E.L. Rothschild L.P. now owns 2,463 shares of the utilities provider’s stock valued at $110,000 after buying an additional 1,354 shares during the last quarter. Ford Financial Group Inc. purchased a new stake in PG&E in the fourth quarter valued at about $110,000. Finally, Synovus Financial Corp purchased a new stake in PG&E in the first quarter valued at about $125,000. Institutional investors own 80.81% 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 residential, commercial, industrial, and agricultural customers in northern and central California, the United States. The company's electricity distribution network consists of approximately 107,200 circuit miles of distribution lines, 59 transmission switching substations, and 605 distribution substations; and electricity transmission network comprises approximately 19,200 circuit miles of interconnected transmission lines and 92 electric transmission substations.

Analyst Recommendations for PG&E (NYSE:PCG)

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