Mizuho lowered shares of PG&E (NYSE:PCG) from a buy rating to a neutral rating in a research report sent to investors on Friday, December 1st, MarketBeat Ratings reports. The brokerage currently has $55.00 price objective on the utilities provider’s stock, up from their previous price objective of $54.24.
Other analysts have also recently issued research reports about the stock. Royal Bank of Canada reissued a buy rating and set a $70.00 price target on shares of PG&E in a research report on Tuesday, August 15th. Bank of America assumed coverage on shares of PG&E in a report on Tuesday, October 24th. They issued a neutral rating and a $59.00 target price on the stock. Evercore ISI reduced their target price on shares of PG&E from $66.00 to $61.00 in a report on Monday, October 16th. Barclays increased their price target on shares of PG&E from $69.00 to $72.00 and gave the company an overweight rating in a research note on Friday, September 22nd. Finally, ValuEngine upgraded shares of PG&E from a hold rating to a buy rating in a research note on Friday, September 1st. Six analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company’s stock. The company presently has an average rating of Buy and an average target price of $66.00.
Shares of PG&E (NYSE PCG) traded up $0.25 on Friday, hitting $53.71. 4,089,984 shares of the company were exchanged, compared to its average volume of 3,193,218. 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 has a 12-month low of $49.83 and a 12-month high of $71.57. The stock has a market capitalization of $27,501.04, a price-to-earnings ratio of 12.23, a P/E/G ratio of 3.39 and a beta of 0.14.
PG&E (NYSE:PCG) last announced its earnings results on Thursday, November 2nd. The utilities provider reported $1.12 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.94 by $0.18. The company had revenue of $4.52 billion during the quarter, compared to analyst estimates of $4.82 billion. PG&E had a net margin of 12.59% and a return on equity of 11.94%. PG&E’s revenue was down 6.1% compared to the same quarter last year. During the same quarter last year, the firm posted $0.94 earnings per share. equities analysts anticipate that PG&E will post 3.69 EPS for the current year.
In related news, VP David S. Thomason sold 700 shares of PG&E stock in a transaction on Wednesday, November 15th. The shares were sold at an average price of $56.82, for a total value of $39,774.00. Following the transaction, the vice president now directly owns 6,657 shares in the company, valued at approximately $378,250.74. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Company insiders own 0.15% of the company’s stock.
A number of institutional investors have recently added to or reduced their stakes in PCG. IFP Advisors Inc lifted its holdings in PG&E by 6.4% in the second quarter. IFP Advisors Inc now owns 8,662 shares of the utilities provider’s stock valued at $575,000 after acquiring an additional 519 shares during the period. Canada Pension Plan Investment Board lifted its holdings in PG&E by 8.5% in the second quarter. Canada Pension Plan Investment Board now owns 1,052,879 shares of the utilities provider’s stock valued at $69,880,000 after acquiring an additional 82,620 shares during the period. Rhumbline Advisers raised its stake in shares of PG&E by 2.4% during the 2nd quarter. Rhumbline Advisers now owns 873,361 shares of the utilities provider’s stock worth $57,965,000 after buying an additional 20,608 shares during the last quarter. Blair William & Co. IL raised its stake in shares of PG&E by 7.4% during the 2nd quarter. Blair William & Co. IL now owns 4,315 shares of the utilities provider’s stock worth $286,000 after buying an additional 298 shares during the last quarter. Finally, Sumitomo Mitsui Trust Holdings Inc. raised its stake in shares of PG&E by 1.9% during the 2nd quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 1,691,774 shares of the utilities provider’s stock worth $112,283,000 after buying an additional 30,786 shares during the last quarter. 81.14% of the stock is owned by institutional investors.
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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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