PG&E Co.’s “Neutral” Rating Reaffirmed at Zacks (PCG)
PG&E Co. (NYSE: PCG)‘s stock had its “neutral” rating reiterated by Zacks in a research note issued to investors on Friday. They currently have a $46.00 price target on the stock.
Zacks‘ analyst wrote, “PG&E Corporation has a steady stream of earnings and returns, thanks to the supportive regulatory environment in California, particularly its decoupling mechanism and forward looking rate cases. Going forward, favorable decisions from regulators, long-term supply contracts, diversification into alternative power sources and infrastructure improvement programs (such as Smart Meter) bode well for the company. These positives, however, will be partially offset by risks, including the present unfavorable macro backdrop, headwinds in the California economy, tepid demand for electricity and power-price volatility. Thus we maintain our Neutral recommendation on the stock with a target price of $46.00.”
Several other analysts have also recently commented on the stock. Analysts at Sanford C. Bernstein reiterated a “market perform” rating on shares of PG&E Co. in a research note to investors on Thursday, March 7th. They now have a $45.00 price target on the stock. Separately, analysts at Macquarie cut their price target on shares of PG&E Co. from $43.00 to $41.00 in a research note to investors on Monday, February 25th. They now have a “neutral” rating on the stock. Finally, analysts at Jefferies Group reiterated a “buy” rating on shares of PG&E Co. in a research note to investors on Friday, February 22nd. They now have a $46.00 price target on the stock, up previously from $45.00.
Ten equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the company. The stock presently has an average rating of “Hold” and an average price target of $44.92.
PG&E Co. (NYSE: PCG) traded up 0.11% on Friday, hitting $43.72. PG&E Co. has a 52-week low of $43.22 and a 52-week high of $44.02. The stock’s 50-day moving average is currently $43.6. The company has a market cap of $18.800 billion and a price-to-earnings ratio of 22.74.
PG&E Co. (NYSE: PCG) last announced its earnings results on Thursday, February 21st. The company reported $0.59 earnings per share for the quarter, missing the analysts’ consensus estimate of $0.60 by $0.01. During the same quarter in the previous year, the company posted $0.89 earnings per share. PG&E Co. has set its FY13 guidance at $2.55-2.75 EPS. On average, analysts predict that PG&E Co. will post $2.67 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which is scheduled for Monday, April 15th. Stockholders of record on Thursday, March 28th will be given a dividend of $0.46 per share. This represents a $1.82 dividend on an annualized basis and a yield of 4.17%. The ex-dividend date of this dividend is Tuesday, March 26th.
PG&E Corporation is a holding company whose primary purpose is to hold interests in energy-based businesses.
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