Wells Fargo & Co cut shares of PG&E (NYSE:PCG) from an outperform rating to a market perform rating in a report published on Monday, December 18th, MarketBeat Ratings reports.
Several other research firms have also commented on PCG. Royal Bank of Canada reissued a buy rating and set a $70.00 price objective on shares of PG&E in a research note on Monday, September 18th. ValuEngine raised shares of PG&E from a hold rating to a buy rating in a research note on Friday, September 1st. BidaskClub upgraded shares of PG&E from a hold rating to a buy rating in a research note on Tuesday, August 22nd. JPMorgan Chase & Co. upped their target price on shares of PG&E from $74.00 to $76.00 and gave the stock an overweight rating in a research note on Thursday, October 12th. Finally, Barclays upped their target price 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. Two equities research analysts have rated the stock with a sell rating, ten have given a hold rating and six have given a buy rating to the company’s stock. The stock has a consensus rating of Hold and a consensus target price of $62.62.
Shares of PG&E (NYSE:PCG) traded down $0.67 during trading hours on Monday, reaching $43.88. 5,697,728 shares of the company were exchanged, compared to its average volume of 7,420,000. The stock has a market cap of $22,570.00, a PE ratio of 10.09, a PEG ratio of 2.73 and a beta of 0.14. PG&E has a one year low of $41.61 and a one year high of $71.57. The company has a debt-to-equity ratio of 0.86, a quick ratio of 0.79 and a current ratio of 0.85.
PG&E (NYSE:PCG) last announced its quarterly earnings results on Thursday, November 2nd. The utilities provider reported $1.12 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.94 by $0.18. PG&E had a net margin of 12.59% and a return on equity of 11.94%. The company had revenue of $4.52 billion for the quarter, compared to analysts’ expectations of $4.82 billion. During the same quarter in the previous year, the company earned $0.94 earnings per share. PG&E’s quarterly revenue was down 6.1% on a year-over-year basis. equities research analysts predict that PG&E will post 3.69 EPS for the current fiscal year.
In other news, VP David S. Thomason sold 700 shares of the 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 completion of the sale, the vice president now directly owns 6,657 shares of the company’s stock, valued at $378,250.74. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. 0.15% of the stock is currently owned by corporate insiders.
Several hedge funds and other institutional investors have recently made changes to their positions in the company. Bank of Stockton bought a new position in shares of PG&E during the third quarter worth $224,000. Blair William & Co. IL boosted its position in shares of PG&E by 7.4% during the second quarter. Blair William & Co. IL now owns 4,315 shares of the utilities provider’s stock worth $286,000 after acquiring an additional 298 shares during the last quarter. Vicus Capital bought a new position in shares of PG&E during the third quarter worth $342,000. Park Avenue Securities LLC bought a new position in shares of PG&E during the third quarter worth $415,000. Finally, Wealthsource Partners LLC bought a new position in shares of PG&E during the second quarter worth $420,000. 81.07% of the stock is owned by hedge funds and other 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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