Guggenheim cut shares of PG&E (NYSE:PCG) from a neutral rating to a sell rating in a research report report published on Tuesday, MarketBeat.com reports.
A number of other equities research analysts have also recently weighed in on the stock. Goldman Sachs Group cut shares of PG&E from a buy rating to a neutral rating and set a $50.00 price objective on the stock. in a research note on Tuesday. ValuEngine cut shares of PG&E from a buy rating to a hold rating in a research note on Sunday, December 31st. Argus restated a hold rating and set a $41.61 price objective (down from $44.68) on shares of PG&E in a research note on Thursday, December 28th. Deutsche Bank restated a buy rating and set a $61.00 price objective on shares of PG&E in a research note on Thursday, December 21st. Finally, Royal Bank of Canada cut shares of PG&E from an outperform rating to a sector perform rating in a research note on Thursday, December 21st. Two analysts have rated the stock with a sell rating, ten have assigned a hold rating and six have given a buy rating to the company. The company presently has a consensus rating of Hold and an average price target of $62.62.
PG&E (NYSE:PCG) traded down $0.25 during mid-day trading on Tuesday, reaching $43.52. The company’s stock had a trading volume of 10,027,101 shares, compared to its average volume of 8,151,967. The company has a debt-to-equity ratio of 0.86, a current ratio of 0.85 and a quick ratio of 0.79. The company has a market capitalization of $22,516.29, a PE ratio of 10.00, a price-to-earnings-growth ratio of 2.70 and a beta of 0.14. PG&E has a 12 month low of $41.61 and a 12 month high of $71.57.
PG&E (NYSE:PCG) last posted its earnings results on Thursday, November 2nd. The utilities provider reported $1.12 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.94 by $0.18. PG&E had a return on equity of 11.94% and a net margin of 12.59%. The company had revenue of $4.52 billion for the quarter, compared to analysts’ expectations of $4.82 billion. During the same period last year, the business posted $0.94 earnings per share. The firm’s quarterly revenue was down 6.1% compared to the same quarter last year. analysts predict that PG&E will post 3.69 EPS for the current fiscal year.
In related news, VP David S. Thomason sold 700 shares of PG&E stock in a transaction dated Wednesday, November 15th. The stock was sold at an average price of $56.82, for a total transaction of $39,774.00. Following the transaction, the vice president now directly owns 6,657 shares of the company’s stock, valued at $378,250.74. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. 0.15% of the stock is owned by insiders.
Institutional investors and hedge funds have recently modified their holdings of the stock. Bank of Stockton purchased a new position in PG&E in the 3rd quarter worth about $224,000. Blair William & Co. IL increased its stake 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 worth $286,000 after purchasing an additional 298 shares in the last quarter. Vicus Capital purchased a new position in PG&E in the 3rd quarter worth about $342,000. Park Avenue Securities LLC purchased a new position in PG&E in the 3rd quarter worth about $415,000. Finally, Wealthsource Partners LLC purchased a new position in PG&E in the 2nd quarter worth about $420,000. 81.07% of the stock is currently owned by hedge funds and other institutional investors.
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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.
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