PG&E (NYSE:PCG) was downgraded by research analysts at Wells Fargo & Company from an “outperform” rating to a “market perform” rating in a note issued to investors on Monday, The Fly reports.
Other equities research analysts have also issued research reports about the company. Citigroup reiterated a “neutral” rating on shares of PG&E in a research note on Monday. Evercore ISI lowered their target price on PG&E from $66.00 to $61.00 in a research note on Monday, October 16th. Barclays increased their target price on PG&E from $69.00 to $72.00 and gave the company an “overweight” rating in a research note on Friday, September 22nd. Royal Bank of Canada reiterated a “buy” rating and issued a $70.00 target price on shares of PG&E in a research note on Monday, September 18th. Finally, BidaskClub upgraded PG&E from a “hold” rating to a “buy” rating in a research note on Tuesday, August 22nd. Seven investment analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. PG&E currently has a consensus rating of “Buy” and a consensus price target of $66.00.
PG&E (NYSE PCG) traded up $0.33 during trading on Monday, hitting $53.05. The stock had a trading volume of 5,757,200 shares, compared to its average volume of 3,211,392. The stock has a market cap of $27,292.71, a P/E ratio of 12.14, a price-to-earnings-growth ratio of 3.36 and a beta of 0.14. The company has a current ratio of 0.85, a quick ratio of 0.79 and a debt-to-equity ratio of 0.86. PG&E has a 52 week low of $49.83 and a 52 week high of $71.57.
In other PG&E news, VP David S. Thomason sold 700 shares of the firm’s stock in a transaction that occurred 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 owns 6,657 shares in the company, valued at approximately $378,250.74. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. 0.15% of the stock is owned by company insiders.
Hedge funds and other institutional investors have recently modified their holdings of the business. Bank of Stockton bought a new stake in shares of PG&E in the 3rd quarter worth $224,000. Blair William & Co. IL lifted its position in shares of PG&E by 7.4% in the second quarter. Blair William & Co. IL now owns 4,315 shares of the utilities provider’s stock worth $286,000 after buying an additional 298 shares during the last quarter. Vicus Capital acquired a new stake in shares of PG&E in the third quarter worth about $342,000. Park Avenue Securities LLC acquired a new stake in shares of PG&E in the third quarter worth about $415,000. Finally, Wealthsource Partners LLC acquired a new stake in shares of PG&E in the second quarter worth about $420,000. Hedge funds and other institutional investors own 81.14% of the company’s stock.
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.
