Barclays Reaffirms Hold Rating for PG&E (NYSE:PCG)

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PG&E (NYSE:PCG)‘s stock had its “hold” rating restated by stock analysts at Barclays in a report issued on Thursday, AnalystRatings.com reports. They presently have a $9.00 price objective on the utilities provider’s stock, down from their prior price objective of $15.00. Barclays‘s price target would indicate a potential downside of 8.07% from the company’s current price.

Several other analysts have also recently commented on PCG. ValuEngine cut shares of PG&E from a “sell” rating to a “strong sell” rating in a research note on Tuesday, January 14th. Mizuho reiterated a “buy” rating and issued a $18.50 target price on shares of PG&E in a research note on Thursday, March 12th. UBS Group boosted their target price on shares of PG&E from $9.00 to $15.00 and gave the company a “neutral” rating in a research note on Friday, January 24th. Wolfe Research reiterated a “hold” rating and issued a $12.00 target price on shares of PG&E in a research note on Wednesday, December 18th. Finally, Citigroup upgraded shares of PG&E from a “neutral” rating to a “buy” rating and boosted their target price for the company from $11.00 to $15.00 in a research note on Wednesday, January 15th. One investment analyst has rated the stock with a sell rating, eight have given a hold rating and two have assigned a buy rating to the company. PG&E has an average rating of “Hold” and a consensus target price of $15.72.

NYSE PCG traded up $0.54 on Thursday, hitting $9.79. 22,766,818 shares of the company’s stock traded hands, compared to its average volume of 12,687,222. The company has a current ratio of 1.33, a quick ratio of 1.25 and a debt-to-equity ratio of 0.32. PG&E has a 1-year low of $3.55 and a 1-year high of $25.19. The firm’s 50-day moving average price is $14.07 and its two-hundred day moving average price is $10.95. The firm has a market capitalization of $4.67 billion, a PE ratio of -0.68, a P/E/G ratio of 0.86 and a beta of 0.54.

PG&E (NYSE:PCG) last announced its quarterly earnings data on Tuesday, February 18th. The utilities provider reported $0.68 EPS for the quarter, beating the consensus estimate of $0.66 by $0.02. PG&E had a negative net margin of 44.64% and a positive return on equity of 21.88%. The business had revenue of $4.74 billion during the quarter, compared to analysts’ expectations of $4.10 billion. During the same period in the previous year, the business posted ($13.24) EPS. On average, research analysts anticipate that PG&E will post 4.1 earnings per share for the current fiscal year.

Several institutional investors and hedge funds have recently bought and sold shares of the stock. Ellington Management Group LLC grew its holdings in shares of PG&E by 3.3% during the fourth quarter. Ellington Management Group LLC now owns 21,700 shares of the utilities provider’s stock worth $236,000 after buying an additional 700 shares in the last quarter. Exane Derivatives lifted its position in shares of PG&E by 21.7% during the fourth quarter. Exane Derivatives now owns 6,807 shares of the utilities provider’s stock worth $87,000 after purchasing an additional 1,215 shares in the last quarter. Ladenburg Thalmann Financial Services Inc. lifted its position in shares of PG&E by 2.0% during the fourth quarter. Ladenburg Thalmann Financial Services Inc. now owns 72,275 shares of the utilities provider’s stock worth $790,000 after purchasing an additional 1,403 shares in the last quarter. Cambridge Investment Research Advisors Inc. lifted its position in shares of PG&E by 15.1% during the fourth quarter. Cambridge Investment Research Advisors Inc. now owns 14,469 shares of the utilities provider’s stock worth $157,000 after purchasing an additional 1,896 shares in the last quarter. Finally, NEXT Financial Group Inc lifted its position in shares of PG&E by 160.4% during the fourth quarter. NEXT Financial Group Inc now owns 3,232 shares of the utilities provider’s stock worth $35,000 after purchasing an additional 1,991 shares in the last quarter. Hedge funds and other institutional investors own 82.53% of the company’s stock.

About PG&E

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.

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Analyst Recommendations for PG&E (NYSE:PCG)

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