Citigroup Reaffirms Neutral Rating for PG&E (NYSE:PCG)

PG&E (NYSE:PCG)‘s stock had its “neutral” rating reaffirmed by equities researchers at Citigroup in a report issued on Monday, December 18th, The Fly reports.

Other equities analysts have also issued research reports about the stock. Royal Bank of Canada reissued a “buy” rating and issued a $70.00 price target on shares of PG&E in a report on Monday, September 18th. Bank of America began coverage on shares of PG&E in a report on Tuesday, October 24th. They issued a “neutral” rating and a $59.00 price target for the company. Mizuho lowered shares of PG&E from a “buy” rating to a “neutral” rating and boosted their price target for the company from $54.24 to $55.00 in a report on Friday, December 1st. Evercore ISI reduced their target price on shares of PG&E from $66.00 to $61.00 in a research note on Monday, October 16th. Finally, Barclays upped their target price on shares of PG&E from $69.00 to $72.00 and gave the stock an “overweight” rating in a research note on Friday, September 22nd. Two equities research analysts have rated the stock with a sell rating, ten have given a hold rating and six have given a buy rating to the company. The company presently has an average rating of “Hold” and an average price target of $62.62.

PG&E (NYSE PCG) traded down $0.67 on Monday, reaching $43.88. 5,149,607 shares of the company’s stock were exchanged, compared to its average volume of 7,420,000. 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 has a 12-month low of $41.61 and a 12-month high of $71.57. The firm has a market cap of $22,570.00, a price-to-earnings ratio of 10.09, a PEG ratio of 2.73 and a beta of 0.14.

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

In other PG&E news, VP David S. Thomason sold 700 shares of the business’s 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 of the company’s stock, valued at approximately $378,250.74. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Insiders own 0.15% of the company’s stock.

Several hedge funds have recently modified their holdings of the company. Blair William & Co. IL raised its holdings in 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 period. Piedmont Investment Advisors LLC raised its holdings in PG&E by 0.9% in the 3rd quarter. Piedmont Investment Advisors LLC now owns 110,358 shares of the utilities provider’s stock valued at $7,514,000 after acquiring an additional 1,022 shares during the period. Parallel Advisors LLC raised its holdings in 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 period. Calamos Advisors LLC raised its holdings in 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 period. Finally, Xact Kapitalforvaltning AB raised its holdings in PG&E by 5.4% in the 3rd quarter. Xact Kapitalforvaltning AB now owns 41,992 shares of the utilities provider’s stock valued at $2,859,000 after acquiring an additional 2,148 shares during the period. 81.07% of the stock is currently owned by institutional investors.

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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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