Citigroup upgraded shares of PG&E (NYSE:PCG) from a sell rating to a neutral rating in a research note published on Monday morning, BenzingaRatingsTable reports. Citigroup currently has $12.00 price target on the utilities provider’s stock, up from their prior price target of $4.00.
Other research analysts have also recently issued reports about the company. Barclays set a $14.00 price objective on PG&E and gave the company a hold rating in a report on Thursday, August 22nd. Evercore ISI set a $25.00 price target on PG&E and gave the company a hold rating in a report on Monday, August 12th. UBS Group cut their price target on PG&E from $24.00 to $13.00 and set a neutral rating for the company in a report on Tuesday, August 20th. Wolfe Research cut PG&E from an outperform rating to a peer perform rating in a report on Friday, June 28th. Finally, Zacks Investment Research raised PG&E from a sell rating to a hold rating and set a $19.00 price target for the company in a report on Tuesday, July 23rd. Two equities research analysts have rated the stock with a sell rating, thirteen have issued a hold rating and one has assigned a buy rating to the stock. The stock currently has an average rating of Hold and a consensus target price of $18.20.
Shares of NYSE PCG opened at $12.20 on Monday. The stock has a market cap of $5.83 billion, a PE ratio of 3.05, a PEG ratio of 1.26 and a beta of 0.42. The business has a fifty day moving average of $13.32 and a two-hundred day moving average of $18.15. PG&E has a 52-week low of $5.07 and a 52-week high of $49.42. The company has a debt-to-equity ratio of 0.20, a quick ratio of 1.92 and a current ratio of 2.03.
PG&E (NYSE:PCG) last issued its quarterly earnings data on Friday, August 9th. The utilities provider reported $1.10 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.99 by $0.11. The company had revenue of $3.94 billion during the quarter, compared to analysts’ expectations of $4.30 billion. PG&E had a positive return on equity of 15.16% and a negative net margin of 53.07%. During the same period last year, the business earned $1.16 earnings per share. Analysts predict that PG&E will post 3.88 earnings per share for the current year.
Institutional investors have recently bought and sold shares of the company. Aperio Group LLC acquired a new position in shares of PG&E during the 2nd quarter worth about $35,000. Sageworth Trust Co acquired a new position in shares of PG&E during the 2nd quarter worth about $42,000. Penserra Capital Management LLC acquired a new position in shares of PG&E during the 1st quarter worth about $42,000. NEXT Financial Group Inc acquired a new position in shares of PG&E during the 2nd quarter worth about $43,000. Finally, Liberty Wealth Management LLC grew its position in shares of PG&E by 836.1% during the 2nd quarter. Liberty Wealth Management LLC now owns 2,022 shares of the utilities provider’s stock worth $46,000 after buying an additional 1,806 shares during the period. Institutional investors own 90.55% of the company’s stock.
PG&E Company Profile
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 107,000 circuit miles of distribution lines, 50 transmission switching substations, and 769 distribution substations; and electricity transmission network comprises approximately 18,000 circuit miles of interconnected transmission lines and 84 electric transmission substations.
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