Citigroup Reaffirms “Hold” Rating for PG&E (PCG)

PG&E (NYSE:PCG)‘s stock had its “hold” rating reiterated by stock analysts at Citigroup in a note issued to investors on Monday. They presently have a $45.00 price objective on the utilities provider’s stock. Citigroup’s target price would suggest a potential upside of 1.37% from the company’s current price.

A number of other research firms have also recently issued reports on PCG. JPMorgan Chase & Co. raised their price target on shares of PG&E from $74.00 to $76.00 and gave the stock an “overweight” rating in a report on Thursday, October 12th. Mizuho reaffirmed a “buy” rating and issued a $78.00 price target on shares of PG&E in a report on Monday, October 9th. Morgan Stanley reaffirmed a “buy” rating on shares of PG&E in a report on Monday, October 16th. Wells Fargo & Co decreased their price target on shares of PG&E from $79.00 to $67.00 and set an “outperform” rating for the company in a report on Monday, October 16th. Finally, Evercore ISI decreased their price target on shares of PG&E from $66.00 to $61.00 in a report on Monday, October 16th. One investment analyst has rated the stock with a sell rating, eleven have issued a hold rating and six have given a buy rating to the stock. The stock currently has an average rating of “Hold” and an average price target of $61.12.

PG&E (PCG) traded down $0.11 during midday trading on Monday, hitting $44.39. 4,337,700 shares of the company’s stock were exchanged, compared to its average volume of 6,363,754. The stock has a market capitalization of $22,630.00, a PE ratio of 10.20, a P/E/G ratio of 2.73 and a beta of 0.14. PG&E has a fifty-two week low of $41.61 and a fifty-two week high of $71.57. 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 (NYSE:PCG) last posted 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 during the quarter, compared to analysts’ expectations of $4.82 billion. PG&E had a net margin of 12.59% and a return on equity of 11.94%. The business’s quarterly revenue was down 6.1% on a year-over-year basis. During the same quarter last year, the company posted $0.94 earnings per share. sell-side analysts forecast that PG&E will post 3.69 earnings per share for the current year.

In related news, VP David S. Thomason sold 700 shares of the firm’s stock in a transaction on Wednesday, November 15th. The shares were 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 owns 6,657 shares of the company’s stock, valued at $378,250.74. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Company insiders own 0.15% of the company’s stock.

A number of hedge funds have recently added to or reduced their stakes in PCG. Canada Pension Plan Investment Board grew its position in PG&E by 48.0% during the third quarter. Canada Pension Plan Investment Board now owns 1,557,779 shares of the utilities provider’s stock valued at $106,069,000 after buying an additional 504,900 shares during the period. Ameriprise Financial Inc. grew its position in PG&E by 12.2% during the third quarter. Ameriprise Financial Inc. now owns 3,354,563 shares of the utilities provider’s stock valued at $228,434,000 after buying an additional 365,937 shares during the period. Schwab Charles Investment Management Inc. grew its position in PG&E by 13.5% during the fourth quarter. Schwab Charles Investment Management Inc. now owns 2,740,505 shares of the utilities provider’s stock valued at $123,333,000 after buying an additional 325,193 shares during the period. Cornerstone Capital Management Holdings LLC. grew its position in PG&E by 110.1% during the second quarter. Cornerstone Capital Management Holdings LLC. now owns 245,226 shares of the utilities provider’s stock valued at $16,274,000 after buying an additional 128,504 shares during the period. Finally, Crow Point Partners LLC grew its position in PG&E by 60.0% during the fourth quarter. Crow Point Partners LLC now owns 200,000 shares of the utilities provider’s stock valued at $8,962,000 after buying an additional 75,000 shares during the period. Institutional investors own 80.90% of the company’s stock.

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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.

Analyst Recommendations for PG&E (NYSE:PCG)

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