Mizuho Forecasts Strong Price Appreciation for PG&E (NYSE:PCG) Stock

PG&E (NYSE:PCG) had its price objective raised by investment analysts at Mizuho from $24.00 to $26.00 in a research note issued on Wednesday,Benzinga reports. The brokerage currently has an “outperform” rating on the utilities provider’s stock. Mizuho’s price objective would suggest a potential upside of 19.82% from the stock’s previous close.

Other analysts have also recently issued research reports about the company. Morgan Stanley raised their price objective on PG&E from $19.00 to $20.00 and gave the stock an “equal weight” rating in a research report on Wednesday, September 25th. UBS Group raised their target price on PG&E from $24.00 to $26.00 and gave the stock a “buy” rating in a research note on Tuesday, September 3rd. Jefferies Financial Group assumed coverage on PG&E in a research note on Monday, October 14th. They issued a “buy” rating and a $24.00 target price for the company. Bank of America assumed coverage on PG&E in a research note on Thursday, September 12th. They issued a “buy” rating and a $24.00 target price for the company. Finally, Barclays raised their target price on PG&E from $24.00 to $25.00 and gave the stock an “overweight” rating in a research note on Monday, October 21st. Two investment analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $23.10.

PG&E Stock Up 0.9 %

Shares of PCG stock traded up $0.19 during mid-day trading on Wednesday, hitting $21.70. 2,290,796 shares of the stock traded hands, compared to its average volume of 13,792,491. PG&E has a 52-week low of $15.94 and a 52-week high of $21.71. The stock has a market cap of $56.75 billion, a P/E ratio of 16.95, a P/E/G ratio of 1.63 and a beta of 1.03. The company has a debt-to-equity ratio of 2.02, a current ratio of 1.04 and a quick ratio of 0.99. The stock’s fifty day moving average is $20.33 and its two-hundred day moving average is $19.07.

PG&E (NYSE:PCG) last posted its quarterly earnings data on Thursday, November 7th. The utilities provider reported $0.37 earnings per share for the quarter, topping analysts’ consensus estimates of $0.32 by $0.05. The firm had revenue of $5.94 billion during the quarter, compared to analysts’ expectations of $6.58 billion. PG&E had a return on equity of 12.51% and a net margin of 11.11%. The business’s quarterly revenue was up .9% on a year-over-year basis. During the same quarter last year, the firm earned $0.24 EPS. Equities analysts predict that PG&E will post 1.36 EPS for the current year.

Hedge Funds Weigh In On PG&E

Institutional investors and hedge funds have recently modified their holdings of the business. Rothschild Investment LLC acquired a new stake in PG&E in the 2nd quarter worth about $30,000. UMB Bank n.a. boosted its holdings in PG&E by 84.7% in the 2nd quarter. UMB Bank n.a. now owns 2,204 shares of the utilities provider’s stock worth $38,000 after buying an additional 1,011 shares during the last quarter. Blue Trust Inc. boosted its holdings in PG&E by 77.0% in the 2nd quarter. Blue Trust Inc. now owns 2,361 shares of the utilities provider’s stock worth $40,000 after buying an additional 1,027 shares during the last quarter. Plato Investment Management Ltd acquired a new stake in PG&E in the 2nd quarter worth about $44,000. Finally, Massmutual Trust Co. FSB ADV boosted its holdings in PG&E by 48.8% in the 2nd quarter. Massmutual Trust Co. FSB ADV now owns 3,596 shares of the utilities provider’s stock worth $63,000 after buying an additional 1,179 shares during the last quarter. Hedge funds and other institutional investors own 78.56% of the company’s stock.

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 customers in northern and central California, the United States. It generates electricity using nuclear, hydroelectric, fossil fuel-fired, fuel cell, and photovoltaic sources.