PG&E (NYSE:PCG) Downgraded to Hold at ValuEngine

PG&E (NYSE:PCG) was downgraded by analysts at ValuEngine from a “buy” rating to a “hold” rating in a research report issued on Friday, February 2nd.

A number of other research analysts have also issued reports on PCG. Evercore ISI reduced their price objective on PG&E from $66.00 to $61.00 in a research report on Monday, October 16th. Wells Fargo & Co cut their target price on PG&E from $79.00 to $67.00 and set an “outperform” rating on the stock in a research note on Monday, October 16th. Citigroup reissued a “neutral” rating on shares of PG&E in a research note on Monday, December 18th. JPMorgan Chase & Co. set a $66.00 price objective on PG&E and gave the stock a “buy” rating in a research note on Monday, October 16th. Finally, Morgan Stanley restated a “buy” rating on shares of PG&E in a report on Monday, October 16th. One analyst has rated the stock with a sell rating, twelve have given a hold rating and six have assigned a buy rating to the company. The company has a consensus rating of “Hold” and a consensus target price of $58.77.

Shares of PG&E (NYSE PCG) traded down $0.16 during trading hours on Friday, hitting $39.18. The company had a trading volume of 1,744,602 shares, compared to its average volume of 6,172,625. PG&E has a 1-year low of $37.30 and a 1-year high of $71.57. The company has a current ratio of 0.85, a quick ratio of 0.79 and a debt-to-equity ratio of 0.86. The stock has a market cap of $19,862.36, a P/E ratio of 12.21, a P/E/G ratio of 2.39 and a beta of 0.03.

PG&E (NYSE:PCG) last issued its quarterly earnings data on Friday, February 9th. The utilities provider reported $0.63 earnings per share for the quarter, missing analysts’ consensus estimates of $0.69 by ($0.06). The business had revenue of $4.10 billion for the quarter, compared to analyst estimates of $4.83 billion. PG&E had a net margin of 9.69% and a return on equity of 10.00%. During the same quarter last year, the business earned $1.33 EPS. equities research analysts expect that PG&E will post 3.8 EPS for the current year.

In related news, VP David S. Thomason sold 700 shares of the business’s stock in a transaction dated Wednesday, November 15th. The stock was sold at an average price of $56.82, for a total transaction of $39,774.00. Following the completion of the transaction, the vice president now owns 6,657 shares of the company’s stock, valued at approximately $378,250.74. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 0.15% of the stock is currently owned by insiders.

Hedge funds have recently added to or reduced their stakes in the company. Xact Kapitalforvaltning AB grew its position in PG&E by 5.4% during the 3rd quarter. Xact Kapitalforvaltning AB now owns 41,992 shares of the utilities provider’s stock worth $2,859,000 after acquiring an additional 2,148 shares during the last quarter. Strs Ohio grew its position in PG&E by 159.0% during the 4th quarter. Strs Ohio now owns 804,393 shares of the utilities provider’s stock worth $36,060,000 after acquiring an additional 493,763 shares during the last quarter. Hollencrest Capital Management acquired a new position in PG&E during the 4th quarter worth $448,000. Piedmont Investment Advisors LLC lifted its holdings in PG&E by 3.7% during the 2nd quarter. Piedmont Investment Advisors LLC now owns 109,336 shares of the utilities provider’s stock worth $7,257,000 after buying an additional 3,919 shares in the last quarter. Finally, National Pension Service lifted its holdings in PG&E by 7.0% during the 4th quarter. National Pension Service now owns 471,089 shares of the utilities provider’s stock worth $21,119,000 after buying an additional 30,836 shares in the last quarter. Institutional investors own 78.45% of the company’s stock.

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PG&E Company Profile

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.

To view ValuEngine’s full report, visit ValuEngine’s official website.

Analyst Recommendations for PG&E (NYSE:PCG)

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