PG&E (PCG) Downgraded by Edward Jones to Sell

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Edward Jones lowered shares of PG&E (NYSE:PCG) from a hold rating to a sell rating in a research note released on Tuesday morning, MarketBeat.com reports.

Other equities analysts have also issued reports about the stock. Morgan Stanley boosted their price objective on shares of PG&E from $63.00 to $67.00 and gave the stock a buy rating in a report on Tuesday, September 11th. Guggenheim upgraded shares of PG&E from a sell rating to a neutral rating in a report on Wednesday, August 29th. Evercore ISI upgraded shares of PG&E from an in-line rating to an outperform rating and boosted their price objective for the stock from $50.00 to $52.00 in a report on Tuesday, September 4th. Bank of America upgraded shares of PG&E from a neutral rating to a buy rating and boosted their price objective for the stock from $48.00 to $56.00 in a report on Tuesday, September 4th. Finally, Goldman Sachs Group set a $49.00 price objective on shares of PG&E and gave the stock a hold rating in a report on Friday, September 14th. Two analysts have rated the stock with a sell rating, eight have assigned a hold rating and seven have issued a buy rating to the company. PG&E has a consensus rating of Hold and an average price target of $48.29.

NYSE PCG traded up $6.66 during mid-day trading on Tuesday, reaching $24.40. The stock had a trading volume of 54,645,008 shares, compared to its average volume of 10,511,095. PG&E has a 1 year low of $17.26 and a 1 year high of $55.35. The firm has a market cap of $13.27 billion, a P/E ratio of 6.68, a PEG ratio of 1.91 and a beta of -0.09. The company has a quick ratio of 0.62, a current ratio of 0.67 and a debt-to-equity ratio of 0.93.

PG&E (NYSE:PCG) last announced its quarterly earnings data on Monday, November 5th. The utilities provider reported $1.13 earnings per share for the quarter, missing analysts’ consensus estimates of $1.14 by ($0.01). PG&E had a return on equity of 10.17% and a net margin of 0.89%. The firm had revenue of $4.38 billion during the quarter, compared to analysts’ expectations of $4.77 billion. During the same quarter in the previous year, the firm earned $1.12 earnings per share. PG&E’s revenue was down 3.0% on a year-over-year basis. As a group, equities analysts expect that PG&E will post 3.82 earnings per share for the current fiscal year.

In other PG&E news, COO Nickolas Stavropoulos sold 1,161 shares of the business’s stock in a transaction on Wednesday, August 22nd. The shares were sold at an average price of $44.79, for a total transaction of $52,001.19. Following the completion of the sale, the chief operating officer now directly owns 78,223 shares in the company, valued at approximately $3,503,608.17. The sale was disclosed in a document filed with the SEC, which is available through this link. 0.15% of the stock is currently owned by insiders.

Institutional investors and hedge funds have recently made changes to their positions in the business. Principal Financial Group Inc. increased its stake in shares of PG&E by 1.1% in the 1st quarter. Principal Financial Group Inc. now owns 743,966 shares of the utilities provider’s stock worth $32,683,000 after purchasing an additional 7,873 shares in the last quarter. Baillie Gifford & Co. increased its stake in shares of PG&E by 9.1% in the 2nd quarter. Baillie Gifford & Co. now owns 267,109 shares of the utilities provider’s stock worth $11,369,000 after purchasing an additional 22,300 shares in the last quarter. Assenagon Asset Management S.A. purchased a new stake in shares of PG&E in the 2nd quarter worth $610,000. Meag Munich Ergo Kapitalanlagegesellschaft MBH increased its stake in shares of PG&E by 154.5% in the 2nd quarter. Meag Munich Ergo Kapitalanlagegesellschaft MBH now owns 52,953 shares of the utilities provider’s stock worth $2,281,000 after purchasing an additional 32,149 shares in the last quarter. Finally, Calamos Advisors LLC increased its stake in shares of PG&E by 13.6% in the 2nd quarter. Calamos Advisors LLC now owns 74,850 shares of the utilities provider’s stock worth $3,186,000 after purchasing an additional 8,966 shares in the last quarter. Institutional investors and hedge funds own 80.90% 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 107,200 circuit miles of distribution lines, 59 transmission switching substations, and 605 distribution substations; and electricity transmission network comprises approximately 19,200 circuit miles of interconnected transmission lines and 92 electric transmission substations.

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