PG&E (NYSE:PCG) PT Lowered to $11.00

PG&E (NYSE:PCG) had its price objective dropped by Morgan Stanley from $13.00 to $11.00 in a report issued on Monday, BenzingaRatingsTable reports. The firm presently has an “equal weight” rating on the utilities provider’s stock. Morgan Stanley’s target price would suggest a potential upside of 24.01% from the company’s previous close.

PCG has been the topic of several other research reports. Barclays upped their price objective on shares of PG&E from $15.00 to $16.00 in a report on Wednesday, June 10th. Wells Fargo & Co boosted their target price on shares of PG&E from $11.00 to $12.00 and gave the stock an “equal weight” rating in a research report on Monday, May 4th. Bank of America started coverage on shares of PG&E in a research report on Friday, June 5th. They set a “buy” rating and a $14.00 target price for the company. Vertical Research started coverage on shares of PG&E in a research report on Wednesday, June 24th. They set a “buy” rating and a $14.00 target price for the company. Finally, Zacks Investment Research raised shares of PG&E from a “sell” rating to a “hold” rating and set a $12.00 target price for the company in a research report on Tuesday, June 16th. One investment analyst has rated the stock with a sell rating, seven have given a hold rating and six have given a buy rating to the stock. PG&E currently has an average rating of “Hold” and an average price target of $14.68.

Shares of NYSE PCG opened at $8.87 on Monday. The firm’s 50-day moving average price is $11.17 and its 200-day moving average price is $12.01. PG&E has a 1-year low of $3.55 and a 1-year high of $23.56. The firm has a market capitalization of $4.84 billion, a P/E ratio of -0.63 and a beta of 1.14. The company has a current ratio of 1.28, a quick ratio of 1.20 and a debt-to-equity ratio of 0.29.

PG&E (NYSE:PCG) last announced its quarterly earnings data on Friday, May 1st. The utilities provider reported $0.89 earnings per share for the quarter, missing the consensus estimate of $0.98 by ($0.09). PG&E had a negative net margin of 42.53% and a positive return on equity of 27.51%. The company had revenue of $4.31 billion for the quarter. During the same quarter in the prior year, the company earned $0.25 EPS. Equities research analysts forecast that PG&E will post 2.64 EPS for the current year.

Hedge funds and other institutional investors have recently bought and sold shares of the business. Weaver Consulting Group lifted its stake in PG&E by 280.8% in the 1st quarter. Weaver Consulting Group now owns 3,046 shares of the utilities provider’s stock worth $27,000 after purchasing an additional 2,246 shares in the last quarter. CWM LLC increased its holdings in shares of PG&E by 553.1% in the 1st quarter. CWM LLC now owns 3,011 shares of the utilities provider’s stock worth $27,000 after buying an additional 2,550 shares during the last quarter. Golden State Wealth Management LLC bought a new position in shares of PG&E in the 1st quarter worth $29,000. Sowell Financial Services LLC grew its holdings in shares of PG&E by 1,272.9% during the 1st quarter. Sowell Financial Services LLC now owns 5,313 shares of the utilities provider’s stock valued at $48,000 after purchasing an additional 4,926 shares during the last quarter. Finally, PNC Financial Services Group Inc. grew its holdings in shares of PG&E by 24.0% during the 1st quarter. PNC Financial Services Group Inc. now owns 5,951 shares of the utilities provider’s stock valued at $54,000 after purchasing an additional 1,152 shares during the last quarter. Institutional investors and hedge funds own 80.17% of the company’s stock.

PG&E Company Profile

PG&E Corporation, through its subsidiary, Pacific Gas and Electric Company, engages in the sale and delivery of electricity and natural gas to residential, commercial, industrial, and agricultural customers in northern and central California, the United States. The company's electricity distribution network consists of approximately 107,000 circuit miles of distribution lines, 50 transmission switching substations, and 769 distribution substations; and electricity transmission network comprises approximately 18,000 circuit miles of interconnected transmission lines and 84 electric transmission substations.

Featured Article: What are trading strategies for the 52-week high/low?

Analyst Recommendations for PG&E (NYSE:PCG)

Receive News & Ratings for PG&E Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for PG&E and related companies with MarketBeat.com's FREE daily email newsletter.