PG&E (PCG) – Analysts’ Weekly Ratings Changes

Several analysts have recently updated their ratings and price targets for PG&E (NYSE: PCG):

  • 2/11/2019 – PG&E had its “hold” rating reaffirmed by analysts at Wells Fargo & Co.
  • 1/29/2019 – PG&E was given a new $18.00 price target on by analysts at Morgan Stanley. They now have a “hold” rating on the stock.
  • 1/28/2019 – PG&E was upgraded by analysts at Wolfe Research from a “market perform” rating to an “outperform” rating.
  • 1/25/2019 – PG&E had its price target raised by analysts at Royal Bank of Canada to $16.00. They now have a “sector perform” rating on the stock.
  • 1/25/2019 – PG&E had its price target raised by analysts at JPMorgan Chase & Co. from $10.00 to $11.00. They now have a “neutral” rating on the stock.
  • 1/25/2019 – PG&E had its price target raised by analysts at Morgan Stanley from $13.00 to $17.50. They now have an “equal weight” rating on the stock. They noted that the move was a valuation call. They noted that the move was a valuation call.
  • 1/18/2019 – PG&E had its price target lowered by analysts at Royal Bank of Canada from $45.00 to $8.00. They noted that the move was a valuation call. They noted that the move was a valuation call.
  • 1/17/2019 – PG&E had its price target lowered by analysts at Barclays PLC from $19.00 to $7.00. They now have an “equal weight” rating on the stock.
  • 1/16/2019 – PG&E was downgraded by analysts at Wells Fargo & Co from an “outperform” rating to a “market perform” rating. They now have a $10.00 price target on the stock, down previously from $15.00.
  • 1/15/2019 – PG&E was downgraded by analysts at Argus from a “buy” rating to a “sell” rating. They now have a $7.82 price target on the stock.
  • 1/15/2019 – PG&E had its price target lowered by analysts at Morgan Stanley from $31.00 to $13.00. They now have an “equal weight” rating on the stock.
  • 1/14/2019 – PG&E was downgraded by analysts at Evercore ISI to an “outperform” rating.
  • 1/14/2019 – PG&E was downgraded by analysts at Macquarie from an “outperform” rating to a “neutral” rating.
  • 1/14/2019 – PG&E was downgraded by analysts at Citigroup Inc from a “buy” rating to a “neutral” rating.
  • 1/14/2019 – PG&E was downgraded by analysts at JPMorgan Chase & Co. from an “overweight” rating to a “neutral” rating. They now have a $22.00 price target on the stock, down previously from $39.00.
  • 1/14/2019 – PG&E was downgraded by analysts at Deutsche Bank AG from a “buy” rating to a “hold” rating. They now have a $10.00 price target on the stock, down previously from $28.00.
  • 1/11/2019 – PG&E had its “hold” rating reaffirmed by analysts at Barclays PLC. They now have a $19.00 price target on the stock.
  • 1/9/2019 – PG&E had its price target lowered by analysts at Bank of America Corp from $44.00 to $22.00. They now have a “buy” rating on the stock.
  • 1/8/2019 – PG&E had its price target lowered by analysts at Mizuho from $27.00 to $19.00. They now have a “neutral” rating on the stock.
  • 1/7/2019 – PG&E had its price target raised by analysts at UBS Group AG from $26.00 to $29.00. They now have a “neutral” rating on the stock.
  • 1/3/2019 – PG&E was downgraded by analysts at Zacks Investment Research from a “buy” rating to a “hold” rating. According to Zacks, “PG&E Corp boasts a solid portfolio of regulated utility assets that offer a stable earnings base and substantial long-term growth potential. PG&E Corp continues to make considerable investments in gas-related projects, and electric system safety and reliability. Going ahead, the company plans on investing approximately $6 billion in 2019. Moreover, the company projects more than $1 billion in grid investments through 2020. However, PG&E Corp’s shares have underperformed its industry in the past 12 months. PG&E Corp.’s operations are subject to federal, state and local legislative requirements as well as extensive environmental regulations related to the emission of greenhouse gases and carbon dioxide. Any changes in the environmental mandates could impact the company’s financial performance.”
  • 12/31/2018 – PG&E had its “buy” rating reaffirmed by analysts at Zacks Investment Research. They now have a $27.00 price target on the stock. According to Zacks, “PG&E Corp boasts a solid portfolio of regulated utility assets that offer a stable earnings base and substantial long-term growth potential. PG&E Corp continues to make considerable investments in gas-related projects, and electric system safety and reliability. Going ahead, the company plans on investing approximately $6 billion in 2019. Moreover, the company projects more than $1 billion in grid investments through 2020. In the next 10 years, the company intends to upgrade its grid system across a targeted 7000 miles of the highest risk areas with stronger and more weather-resistant poles and insulated tree wire. However, PG&E Corp’s shares have underperformed its industry in the last 12 months. PG&E Corp.’s operations are subject to federal, state and local legislative requirements as well as extensive environmental regulations related to the emission of greenhouse gases and carbon dioxide.”
  • 12/24/2018 – PG&E had its “buy” rating reaffirmed by analysts at Wells Fargo & Co.
  • 12/20/2018 – PG&E was downgraded by analysts at Zacks Investment Research from a “buy” rating to a “hold” rating. According to Zacks, “PG&E Corp boasts a solid portfolio of regulated utility assets that offer a stable earnings base and substantial long-term growth potential. PG&E Corp continues to make considerable investments in gas-related projects, and electric system safety and reliability. Going ahead, the company plans on investing approximately $6 billion in 2019. Moreover, the company projects more than $1 billion in grid investments through 2020. However, PG&E Corp’s shares have underperformed its industry in the last 12 months. PG&E Corp.’s operations are subject to federal, state and local legislative requirements as well as extensive environmental regulations related to the emission of greenhouse gases and carbon dioxide, air and water quality, and waste management.”
  • 12/19/2018 – PG&E was upgraded by analysts at Zacks Investment Research from a “hold” rating to a “buy” rating. They now have a $27.00 price target on the stock. According to Zacks, “PG&E Corp boasts a solid portfolio of regulated utility assets that offer a stable earnings base and substantial long-term growth potential. PG&E Corp continues to make considerable investments in gas-related projects, and electric system safety and reliability. Going ahead, the company plans on investing approximately $6 billion in 2019. Moreover, the company projects more than $1 billion in grid investments through 2020. However, PG&E Corp’s shares has underperformed its industry in the last 12 months. PG&E Corp.’s operations are subject to federal, state and local legislative requirements as well as extensive environmental regulations related to the emission of greenhouse gases and carbon dioxide, air and water quality, and waste management.”

NYSE PCG traded up $0.25 on Monday, hitting $14.45. 74,849 shares of the stock traded hands, compared to its average volume of 53,263,032. PG&E Co. has a twelve month low of $5.07 and a twelve month high of $49.42. The stock has a market capitalization of $7.37 billion, a P/E ratio of 3.93, a PEG ratio of 1.26 and a beta of -0.46. The company has a quick ratio of 0.62, a current ratio of 0.67 and a debt-to-equity ratio of 0.93.

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Litman Gregory Asset Management LLC bought a new position in shares of PG&E during the fourth quarter valued at approximately $32,000. Benjamin F. Edwards & Company Inc. grew its holdings in shares of PG&E by 417.2% during the fourth quarter. Benjamin F. Edwards & Company Inc. now owns 1,417 shares of the utilities provider’s stock valued at $34,000 after purchasing an additional 1,143 shares during the last quarter. NuWave Investment Management LLC grew its holdings in shares of PG&E by 2,320.2% during the fourth quarter. NuWave Investment Management LLC now owns 2,517 shares of the utilities provider’s stock valued at $60,000 after purchasing an additional 2,413 shares during the last quarter. Rational Advisors LLC grew its holdings in shares of PG&E by 2,320.2% during the fourth quarter. Rational Advisors LLC now owns 2,517 shares of the utilities provider’s stock valued at $60,000 after purchasing an additional 2,413 shares during the last quarter. Finally, First Hawaiian Bank grew its holdings in shares of PG&E by 42.7% during the fourth quarter. First Hawaiian Bank now owns 2,599 shares of the utilities provider’s stock valued at $62,000 after purchasing an additional 778 shares during the last quarter. Hedge funds and other institutional investors own 83.61% of the company’s stock.

PG&E Corporation, through its subsidiary, Pacific Gas and Electric Company, engages in the sale and delivery of electricity and natural gas to residential, commercial, industrial, and agricultural customers in northern and central California, the United States. The company's electricity distribution network consists of approximately 107,200 circuit miles of distribution lines, 59 transmission switching substations, and 605 distribution substations; and electricity transmission network comprises approximately 19,200 circuit miles of interconnected transmission lines and 92 electric transmission substations.

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