PG&E (PCG) Given Neutral Rating at Citigroup

Citigroup restated their neutral rating on shares of PG&E (NYSE:PCG) in a report published on Monday, The Fly reports.

A number of other equities research analysts also recently issued reports on PCG. Evercore ISI reduced their price target on PG&E from $66.00 to $61.00 in a research report on Monday, October 16th. Barclays increased their price target on PG&E from $69.00 to $72.00 and gave the stock an overweight rating in a research report on Friday, September 22nd. Royal Bank of Canada reissued a buy rating and set a $70.00 price target on shares of PG&E in a research report on Monday, September 18th. BidaskClub raised PG&E from a hold rating to a buy rating in a research report on Tuesday, August 22nd. Finally, Wells Fargo & Company reduced their price target on PG&E from $79.00 to $67.00 and set an outperform rating on the stock in a research report on Monday, October 16th. Eight research analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. PG&E has a consensus rating of Buy and an average target price of $65.38.

Shares of PG&E (PCG) traded down $6.62 during trading hours on Monday, reaching $44.50. The company had a trading volume of 52,389,100 shares, compared to its average volume of 3,428,222. The firm has a market capitalization of $26,297.29, a P/E ratio of 11.70, a P/E/G ratio of 3.24 and a beta of 0.14. PG&E has a 1-year low of $41.61 and a 1-year 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.

PG&E (NYSE:PCG) last issued its quarterly earnings results on Thursday, November 2nd. The utilities provider reported $1.12 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.94 by $0.18. The business had revenue of $4.52 billion for the quarter, compared to the consensus estimate of $4.82 billion. PG&E had a return on equity of 11.94% and a net margin of 12.59%. The firm’s quarterly revenue was down 6.1% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.94 earnings per share. sell-side analysts predict that PG&E will post 3.69 EPS for the current fiscal year.

In other PG&E news, VP David S. Thomason sold 700 shares of the company’s stock in a transaction on 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 sale, the vice president now directly owns 6,657 shares in the company, valued at $378,250.74. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.15% of the stock is owned by corporate insiders.

Several institutional investors and hedge funds have recently made changes to their positions in PCG. Blair William & Co. IL lifted its stake in shares of PG&E by 7.4% in the 2nd quarter. Blair William & Co. IL now owns 4,315 shares of the utilities provider’s stock valued at $286,000 after acquiring an additional 298 shares during the last quarter. Sumitomo Mitsui Trust Holdings Inc. lifted its stake in shares of PG&E by 1.9% in the 2nd quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 1,691,774 shares of the utilities provider’s stock valued at $112,283,000 after acquiring an additional 30,786 shares during the last quarter. Parallel Advisors LLC lifted its stake in shares of PG&E by 15.5% in the 2nd quarter. Parallel Advisors LLC now owns 8,573 shares of the utilities provider’s stock valued at $580,000 after acquiring an additional 1,150 shares during the last quarter. Calamos Advisors LLC lifted its stake in shares of PG&E by 2.7% in the 2nd quarter. Calamos Advisors LLC now owns 64,545 shares of the utilities provider’s stock valued at $4,284,000 after acquiring an additional 1,673 shares during the last quarter. Finally, Pinebridge Investments L.P. bought a new position in shares of PG&E in the 2nd quarter valued at $812,000. Institutional investors own 81.07% of the company’s stock.

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About PG&E

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.

The Fly

Analyst Recommendations for PG&E (NYSE:PCG)

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