PG&E (NYSE:PCG – Get Free Report) was downgraded by research analysts at StockNews.com from a “hold” rating to a “sell” rating in a report released on Friday.
Several other equities analysts also recently commented on PCG. Barclays increased their target price on shares of PG&E from $18.00 to $20.00 and gave the stock an “overweight” rating in a research report on Tuesday, December 5th. JPMorgan Chase & Co. cut their price objective on PG&E from $19.00 to $18.00 and set a “neutral” rating on the stock in a research note on Tuesday, October 17th. Mizuho upped their target price on PG&E from $19.00 to $20.00 and gave the stock a “buy” rating in a research report on Friday, November 17th. Evercore ISI reissued an “in-line” rating and issued a $16.00 price target on shares of PG&E in a research report on Monday, October 23rd. Finally, Guggenheim decreased their price objective on shares of PG&E from $21.00 to $19.00 in a report on Monday, October 9th. One analyst has rated the stock with a sell rating, four have given a hold rating and six have given a buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $18.68.
PG&E Stock Down 0.2 %
Shares of PCG traded down $0.04 during midday trading on Friday, reaching $18.03. 9,809,041 shares of the stock were exchanged, compared to its average volume of 16,635,063. The company has a market cap of $47.08 billion, a price-to-earnings ratio of 20.97, a P/E/G ratio of 5.89 and a beta of 1.15. The company has a quick ratio of 0.79, a current ratio of 0.84 and a debt-to-equity ratio of 2.09. PG&E has a 12-month low of $14.71 and a 12-month high of $18.32. The firm has a 50 day simple moving average of $17.24 and a 200-day simple moving average of $17.05.
PG&E (NYSE:PCG – Get Free Report) last released its quarterly earnings data on Thursday, October 26th. The utilities provider reported $0.24 EPS for the quarter, missing analysts’ consensus estimates of $0.28 by ($0.04). The firm had revenue of $5.89 billion during the quarter, compared to analyst estimates of $5.48 billion. PG&E had a return on equity of 9.21% and a net margin of 8.13%. The company’s quarterly revenue was up 9.2% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.29 EPS. Research analysts forecast that PG&E will post 1.21 EPS for the current year.
Hedge Funds Weigh In On PG&E
Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Raymond James & Associates increased its position in shares of PG&E by 44.3% during the first quarter. Raymond James & Associates now owns 337,858 shares of the utilities provider’s stock valued at $4,034,000 after purchasing an additional 103,767 shares during the period. Raymond James Financial Services Advisors Inc. increased its holdings in PG&E by 86.2% in the 1st quarter. Raymond James Financial Services Advisors Inc. now owns 146,663 shares of the utilities provider’s stock valued at $1,751,000 after buying an additional 67,898 shares during the period. American Century Companies Inc. raised its stake in shares of PG&E by 190.4% in the 1st quarter. American Century Companies Inc. now owns 183,755 shares of the utilities provider’s stock valued at $2,194,000 after buying an additional 120,468 shares in the last quarter. Cambridge Investment Research Advisors Inc. lifted its holdings in shares of PG&E by 3.8% during the 1st quarter. Cambridge Investment Research Advisors Inc. now owns 30,636 shares of the utilities provider’s stock worth $366,000 after acquiring an additional 1,122 shares during the period. Finally, Cetera Advisor Networks LLC bought a new position in shares of PG&E during the 1st quarter worth about $154,000. 74.35% of the stock is currently owned by institutional investors.
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 customers in northern and central California, the United States. It generates electricity using nuclear, hydroelectric, fossil fuel-fired, fuel cell, and photovoltaic sources.