PG&E (NYSE:PCG) was downgraded by research analysts at Royal Bank of Canada from an “outperform” rating to a “sector perform” rating in a report released on Thursday.
Other analysts also recently issued reports about the company. Evercore ISI reduced their price objective on PG&E from $66.00 to $61.00 in a research note on Monday, October 16th. Goldman Sachs Group downgraded PG&E from a “conviction-buy” rating to a “buy” rating and set a $65.00 price objective for the company. in a research note on Monday, October 16th. J P Morgan Chase & Co set a $66.00 price objective on PG&E and gave the company a “buy” rating in a research note on Monday, October 16th. Mizuho reaffirmed a “buy” rating and set a $78.00 price objective on shares of PG&E in a research note on Monday, October 9th. Finally, Morgan Stanley reaffirmed a “buy” rating on shares of PG&E in a research note on Monday, October 16th. Eight analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. The stock has a consensus rating of “Buy” and a consensus target price of $65.38.
PG&E (PCG) traded down $0.93 on Thursday, reaching $51.12. The company’s stock had a trading volume of 5,923,500 shares, compared to its average volume of 3,228,357. The company has a current ratio of 0.85, a quick ratio of 0.79 and a debt-to-equity ratio of 0.86. The stock has a market cap of $26,775.71, a P/E ratio of 11.91, a PEG ratio of 3.30 and a beta of 0.14. PG&E has a 12-month low of $49.83 and a 12-month high of $71.57.
In other news, VP David S. Thomason sold 700 shares of the 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 transaction, 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 document filed with the SEC, which is accessible through this link. Corporate insiders own 0.15% of the company’s stock.
Hedge funds have recently modified their holdings of the company. Bank of Stockton purchased a new position in shares of PG&E during the 3rd quarter worth approximately $224,000. Blair William & Co. IL grew its holdings 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 worth $286,000 after acquiring an additional 298 shares during the period. Vicus Capital acquired a new stake in shares of PG&E in the 3rd quarter worth approximately $342,000. Park Avenue Securities LLC acquired a new stake in shares of PG&E in the 3rd quarter worth approximately $415,000. Finally, Wealthsource Partners LLC acquired a new stake in shares of PG&E in the 2nd quarter worth approximately $420,000. 81.07% of the stock is owned by institutional investors and hedge funds.
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PG&E Company Profile
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.
