PG&E Co. (NYSE:PCG) has been assigned an average recommendation of “Hold” from the eighteen research firms that are presently covering the stock, MarketBeat reports. Two investment analysts have rated the stock with a sell recommendation, eight have issued a hold recommendation and seven have assigned a buy recommendation to the company. The average 12 month target price among brokers that have updated their coverage on the stock in the last year is $45.58.
Several research analysts have recently weighed in on PCG shares. Morgan Stanley cut shares of PG&E from an “overweight” rating to an “equal weight” rating and reduced their price target for the company from $67.00 to $31.00 in a report on Thursday, November 15th. Argus upped their price target on shares of PG&E to $36.00 and gave the company a “buy” rating in a report on Friday, November 16th. Bank of America reiterated a “buy” rating and issued a $63.00 price target (up previously from $57.00) on shares of PG&E in a report on Tuesday, November 6th. Edward Jones cut shares of PG&E from a “hold” rating to a “sell” rating in a report on Tuesday, November 13th. Finally, Evercore ISI upgraded shares of PG&E from an “in-line” rating to an “outperform” rating and upped their price target for the company from $50.00 to $52.00 in a report on Tuesday, September 4th.
A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Creative Planning boosted its holdings in PG&E by 5.4% during the third quarter. Creative Planning now owns 21,790 shares of the utilities provider’s stock worth $1,003,000 after purchasing an additional 1,116 shares during the last quarter. Bessemer Group Inc. boosted its holdings in PG&E by 67.1% during the third quarter. Bessemer Group Inc. now owns 2,893 shares of the utilities provider’s stock worth $133,000 after purchasing an additional 1,162 shares during the last quarter. State Treasurer State of Michigan boosted its holdings in PG&E by 0.8% during the third quarter. State Treasurer State of Michigan now owns 154,129 shares of the utilities provider’s stock worth $7,091,000 after purchasing an additional 1,200 shares during the last quarter. CIBC Asset Management Inc boosted its holdings in PG&E by 2.4% during the second quarter. CIBC Asset Management Inc now owns 52,905 shares of the utilities provider’s stock worth $2,252,000 after purchasing an additional 1,242 shares during the last quarter. Finally, State of Alaska Department of Revenue boosted its holdings in PG&E by 1.4% during the third quarter. State of Alaska Department of Revenue now owns 101,364 shares of the utilities provider’s stock worth $4,663,000 after purchasing an additional 1,382 shares during the last quarter. Institutional investors and hedge funds own 82.76% of the company’s stock.
NYSE:PCG traded down $0.24 during trading hours on Monday, hitting $25.79. The stock had a trading volume of 6,837,082 shares, compared to its average volume of 22,042,778. PG&E has a one year low of $17.26 and a one year high of $53.88. The company has a debt-to-equity ratio of 0.93, a quick ratio of 0.62 and a current ratio of 0.67. The company has a market capitalization of $13.50 billion, a PE ratio of 7.01, a PEG ratio of 1.94 and a beta of -0.17.
PG&E (NYSE:PCG) last issued its earnings results on Monday, November 5th. The utilities provider reported $1.13 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $1.14 by ($0.01). PG&E had a net margin of 0.89% and a return on equity of 10.17%. The firm had revenue of $4.38 billion during the quarter, compared to the consensus estimate of $4.77 billion. During the same period in the previous year, the company posted $1.12 EPS. The firm’s revenue for the quarter was down 3.0% on a year-over-year basis. On average, sell-side analysts forecast that PG&E will post 3.82 earnings per share for the current year.
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.
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