Deutsche Bank reissued their buy rating on shares of PG&E (NYSE:PCG) in a research note issued to investors on Thursday, December 21st. Deutsche Bank currently has a $61.00 price objective on the utilities provider’s stock.
Other research analysts have also issued reports about the stock. Evercore ISI lowered their target price on shares of PG&E from $66.00 to $61.00 in a research note on Monday, October 16th. Royal Bank of Canada reiterated a buy rating and issued a $70.00 target price on shares of PG&E in a research note on Monday, September 18th. ValuEngine upgraded shares of PG&E from a hold rating to a buy rating in a research report on Friday, September 1st. Mizuho restated a buy rating and issued a $78.00 price target on shares of PG&E in a research report on Monday, October 9th. Finally, Goldman Sachs Group lowered shares of PG&E from a conviction-buy rating to a buy rating and set a $65.00 price target on the stock. in a research report on Monday, October 16th. Two equities research analysts have rated the stock with a sell rating, ten have issued a hold rating and six have assigned a buy rating to the company’s stock. PG&E has an average rating of Hold and a consensus target price of $62.62.
PG&E (NYSE PCG) opened at $43.82 on Thursday. PG&E has a 12 month low of $41.61 and a 12 month high of $71.57. The company has a quick ratio of 0.79, a current ratio of 0.85 and a debt-to-equity ratio of 0.86. The stock has a market cap of $22,540.00, a price-to-earnings ratio of 10.07, a P/E/G ratio of 2.71 and a beta of 0.14.
PG&E (NYSE:PCG) last posted its earnings results on Thursday, November 2nd. The utilities provider reported $1.12 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.94 by $0.18. PG&E had a net margin of 12.24% and a return on equity of 11.71%. The business had revenue of $4.52 billion for the quarter, compared to analyst estimates of $4.82 billion. During the same period last year, the business posted $0.94 EPS. PG&E’s revenue was down 6.1% compared to the same quarter last year. equities analysts anticipate that PG&E will post 3.69 earnings per share for the current fiscal year.
In other news, VP David S. Thomason sold 700 shares of PG&E stock in a transaction dated Wednesday, November 15th. The shares were sold at an average price of $56.82, for a total transaction of $39,774.00. Following the sale, the vice president now directly owns 6,657 shares in the company, valued at approximately $378,250.74. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. 0.15% of the stock is currently owned by insiders.
Several institutional investors have recently modified their holdings of the company. Ameriprise Financial Inc. boosted its position in shares of PG&E by 12.2% during the 3rd quarter. Ameriprise Financial Inc. now owns 3,354,563 shares of the utilities provider’s stock valued at $228,434,000 after acquiring an additional 365,937 shares in the last quarter. Canada Pension Plan Investment Board boosted its position in shares of PG&E by 48.0% during the 3rd quarter. Canada Pension Plan Investment Board now owns 1,557,779 shares of the utilities provider’s stock valued at $106,069,000 after acquiring an additional 504,900 shares in the last quarter. Rhumbline Advisers boosted its position in shares of PG&E by 1.8% during the 3rd quarter. Rhumbline Advisers now owns 888,849 shares of the utilities provider’s stock valued at $60,522,000 after acquiring an additional 15,488 shares in the last quarter. Parametric Portfolio Associates LLC boosted its position in shares of PG&E by 3.5% during the 3rd quarter. Parametric Portfolio Associates LLC now owns 870,562 shares of the utilities provider’s stock valued at $59,277,000 after acquiring an additional 29,306 shares in the last quarter. Finally, Hexavest Inc. boosted its position in shares of PG&E by 1.3% during the 4th quarter. Hexavest Inc. now owns 724,616 shares of the utilities provider’s stock valued at $32,485,000 after acquiring an additional 9,352 shares in the last quarter. Institutional investors and hedge funds own 81.07% of the company’s stock.
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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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