Investors Buy Shares of PG&E (PCG) on Weakness
Investors bought shares of PG&E Co. (NYSE:PCG) on weakness during trading hours on Wednesday. $52.97 million flowed into the stock on the tick-up and $31.32 million flowed out of the stock on the tick-down, for a money net flow of $21.65 million into the stock. Of all companies tracked, PG&E had the 25th highest net in-flow for the day. PG&E traded down ($0.34) for the day and closed at $53.09
PCG has been the subject of a number of recent research reports. Royal Bank of Canada reiterated a “buy” rating and issued a $70.00 price target on shares of PG&E in a research note on Tuesday, August 15th. BidaskClub upgraded shares of PG&E from a “hold” rating to a “buy” rating in a research note on Tuesday, August 22nd. ValuEngine upgraded shares of PG&E from a “hold” rating to a “buy” rating in a research note on Friday, September 1st. Barclays lifted their price target on shares of PG&E from $69.00 to $72.00 and gave the stock an “overweight” rating in a research note on Friday, September 22nd. Finally, Mizuho reiterated a “buy” rating and issued a $78.00 price target on shares of PG&E in a research note on Monday, October 9th. Six investment analysts have rated the stock with a hold rating and ten have given a buy rating to the stock. The company currently has a consensus rating of “Buy” and a consensus target price of $66.00.
The firm has a market cap of $27,629.65, a PE ratio of 12.29, a price-to-earnings-growth ratio of 3.40 and a beta of 0.14. The company has a debt-to-equity ratio of 0.86, a current ratio of 0.85 and a quick ratio of 0.79.
PG&E (NYSE:PCG) last issued its quarterly earnings data on Thursday, November 2nd. The utilities provider reported $1.12 earnings per share for the quarter, topping the consensus estimate of $0.94 by $0.18. The business had revenue of $4.52 billion during the quarter, compared to the consensus estimate of $4.82 billion. PG&E had a net margin of 12.59% and a return on equity of 11.94%. The company’s revenue was down 6.1% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.94 EPS. sell-side analysts predict that PG&E Co. will post 3.69 earnings per share for the current year.
In other news, VP David S. Thomason sold 700 shares of the business’s stock in a transaction that occurred on Wednesday, November 15th. The shares were sold at an average price of $56.82, for a total transaction of $39,774.00. Following the completion of the sale, the vice president now owns 6,657 shares in the company, valued at approximately $378,250.74. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. 0.15% of the stock is currently owned by insiders.
Large investors have recently modified their holdings of the company. Bank of Stockton purchased a new stake in shares of PG&E during the 3rd quarter worth approximately $224,000. Blair William & Co. IL raised its position in PG&E by 7.4% in the 2nd quarter. Blair William & Co. IL now owns 4,315 shares of the utilities provider’s stock valued at $286,000 after purchasing an additional 298 shares during the last quarter. Vicus Capital purchased a new stake in PG&E in the 3rd quarter valued at $342,000. Park Avenue Securities LLC purchased a new stake in PG&E in the 3rd quarter valued at $415,000. Finally, Wealthsource Partners LLC purchased a new stake in PG&E in the 2nd quarter valued at $420,000. Institutional investors and hedge funds own 81.14% of the company’s stock.
PG&E Company Profile
PG&E Corporation is a holding company. The Company’s primary operating subsidiary is Pacific Gas and Electric Company (the Utility), which operates in northern and central California. The Utility is engaged in the sale and delivery of electricity and natural gas to customers. The Utility generates electricity and provides electricity transmission and distribution services throughout its service territory in northern and central California to residential, commercial, industrial, and agricultural customers.
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