PG&E (PCG) Rating Reiterated by Barclays

PG&E (NYSE:PCG)‘s stock had its “hold” rating restated by research analysts at Barclays in a note issued to investors on Friday. They currently have a $19.00 price target on the utilities provider’s stock. Barclays‘s price target would suggest a potential upside of 8.02% from the company’s current price.

PCG has been the subject of a number of other reports. Bank of America cut their price target on PG&E from $44.00 to $22.00 and set a “buy” rating for the company in a research note on Wednesday. Goldman Sachs Group set a $49.00 price target on PG&E and gave the stock a “hold” rating in a research note on Friday, September 14th. Morgan Stanley downgraded PG&E from an “overweight” rating to an “equal weight” rating and cut their price target for the stock from $67.00 to $31.00 in a research note on Thursday, November 15th. ValuEngine raised PG&E from a “strong sell” rating to a “sell” rating in a research note on Friday, October 12th. Finally, Wells Fargo & Co reaffirmed a “buy” rating on shares of PG&E in a research note on Monday, December 24th. Two analysts have rated the stock with a sell rating, seven have given a hold rating and six have assigned a buy rating to the company. The stock presently has a consensus rating of “Hold” and a consensus target price of $35.62.

NYSE PCG traded down $0.17 during trading on Friday, reaching $17.59. 19,728,577 shares of the company’s stock were exchanged, compared to its average volume of 20,215,348. PG&E has a fifty-two week low of $15.78 and a fifty-two week high of $49.42. The firm has a market capitalization of $9.25 billion, a PE ratio of 4.78, a PEG ratio of 1.27 and a beta of 0.01. The company has a current ratio of 0.67, a quick ratio of 0.62 and a debt-to-equity ratio of 0.93.

PG&E (NYSE:PCG) last posted its quarterly earnings results on Monday, November 5th. The utilities provider reported $1.13 earnings per share for the quarter, missing the Zacks’ consensus estimate 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 for the quarter, compared to analysts’ expectations of $4.77 billion. During the same period last year, the business earned $1.12 earnings per share. The firm’s revenue for the quarter was down 3.0% on a year-over-year basis. Research analysts anticipate that PG&E will post 3.82 EPS for the current year.

Several hedge funds have recently modified their holdings of PCG. Cadence Capital Management LLC bought a new position in PG&E in the 3rd quarter worth approximately $272,000. BlueMountain Capital Management LLC increased its position in PG&E by 2,496.7% in the 3rd quarter. BlueMountain Capital Management LLC now owns 4,307,967 shares of the utilities provider’s stock worth $198,210,000 after buying an additional 4,142,068 shares during the period. Silver Point Capital L.P. bought a new position in PG&E in the 3rd quarter worth approximately $60,043,000. Morgan Stanley increased its position in PG&E by 41.6% in the 2nd quarter. Morgan Stanley now owns 3,438,543 shares of the utilities provider’s stock worth $146,342,000 after buying an additional 1,009,616 shares during the period. Finally, Baupost Group LLC MA increased its position in PG&E by 321.8% in the 3rd quarter. Baupost Group LLC MA now owns 18,979,790 shares of the utilities provider’s stock worth $873,260,000 after buying an additional 14,479,790 shares during the period. 82.59% of the stock is currently owned by institutional investors and hedge funds.

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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Analyst Recommendations for PG&E (NYSE:PCG)

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