PG&E (NYSE:PCG) Cut to Neutral at Guggenheim

Guggenheim downgraded shares of PG&E (NYSE:PCG) from a buy rating to a neutral rating in a research note issued to investors on Tuesday morning, MarketBeat Ratings reports.

Several other equities analysts have also recently commented on PCG. Barclays reduced their price objective on shares of PG&E from $24.00 to $23.00 and set an “overweight” rating for the company in a research note on Monday, January 27th. UBS Group dropped their target price on shares of PG&E from $24.00 to $22.00 and set a “buy” rating for the company in a research report on Thursday, January 30th. JPMorgan Chase & Co. reiterated an “overweight” rating and set a $22.00 target price on shares of PG&E in a research report on Wednesday, February 12th. Morgan Stanley lowered shares of PG&E from an “equal weight” rating to an “underweight” rating and lowered their price objective for the stock from $20.00 to $16.50 in a report on Friday, February 14th. Finally, BMO Capital Markets assumed coverage on shares of PG&E in a report on Monday, January 13th. They set an “outperform” rating and a $21.00 price target for the company. One research analyst has rated the stock with a sell rating, one has issued a hold rating and ten have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $22.23.

PG&E Price Performance

PCG opened at $15.71 on Tuesday. The company has a market capitalization of $41.95 billion, a price-to-earnings ratio of 13.66, a PEG ratio of 1.07 and a beta of 0.99. The company has a quick ratio of 1.00, a current ratio of 1.05 and a debt-to-equity ratio of 1.86. The firm has a 50-day moving average price of $17.57 and a 200-day moving average price of $19.12. PG&E has a twelve month low of $14.99 and a twelve month high of $21.72.

PG&E (NYSE:PCG) last issued its quarterly earnings data on Thursday, February 13th. The utilities provider reported $0.31 EPS for the quarter, meeting the consensus estimate of $0.31. The company had revenue of $6.63 billion during the quarter, compared to analysts’ expectations of $7.29 billion. PG&E had a net margin of 10.27% and a return on equity of 10.94%. During the same quarter in the previous year, the company earned $0.47 earnings per share. Equities analysts expect that PG&E will post 1.49 EPS for the current year.

Insider Activity at PG&E

In other PG&E news, CEO Patricia K. Poppe sold 55,555 shares of PG&E stock in a transaction dated Monday, December 2nd. The shares were sold at an average price of $20.66, for a total value of $1,147,766.30. Following the completion of the transaction, the chief executive officer now directly owns 1,460,222 shares of the company’s stock, valued at approximately $30,168,186.52. The trade was a 3.67 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. 0.15% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of PCG. Norges Bank purchased a new position in PG&E in the fourth quarter worth about $591,625,000. Capital Research Global Investors raised its holdings in PG&E by 70.3% in the fourth quarter. Capital Research Global Investors now owns 46,805,768 shares of the utilities provider’s stock worth $944,540,000 after buying an additional 19,317,171 shares during the last quarter. FMR LLC raised its holdings in PG&E by 5.1% in the third quarter. FMR LLC now owns 176,839,426 shares of the utilities provider’s stock worth $3,496,115,000 after buying an additional 8,604,396 shares during the last quarter. Vanguard Group Inc. raised its holdings in PG&E by 2.5% in the fourth quarter. Vanguard Group Inc. now owns 254,358,968 shares of the utilities provider’s stock worth $5,132,964,000 after buying an additional 6,151,233 shares during the last quarter. Finally, Zimmer Partners LP raised its holdings in PG&E by 84.9% in the fourth quarter. Zimmer Partners LP now owns 12,661,324 shares of the utilities provider’s stock worth $255,506,000 after buying an additional 5,814,624 shares during the last quarter. 78.56% of the stock is owned by hedge funds and other institutional investors.

PG&E Company Profile

PG&E Corp. operates as a holding company, which engages in generation, transmission, and distribution of electricity and natural gas to customers. It specializes in energy, utility, power, gas, electricity, solar and sustainability. The company was founded in 1995 and is headquartered in Oakland, CA.