PG&E Co. (PCG) Receives Average Recommendation of “Hold” from Analysts

PG&E Co. (NYSE:PCG) has been given a consensus recommendation of “Hold” by the seventeen ratings firms that are covering the stock, MarketBeat Ratings reports. One analyst has rated the stock with a sell recommendation, nine have assigned a hold recommendation and seven have issued a buy recommendation on the company. The average 12 month price objective among brokers that have updated their coverage on the stock in the last year is $53.70.

A number of research analysts have recently weighed in on PCG shares. Wells Fargo & Co upgraded PG&E from a “market perform” rating to an “outperform” rating in a research report on Monday, August 6th. Morgan Stanley raised their price target on PG&E from $63.00 to $67.00 and gave the company a “buy” rating in a research report on Tuesday, September 11th. Evercore ISI upgraded PG&E from an “in-line” rating to an “outperform” rating and raised their price target for the company from $50.00 to $52.00 in a research report on Tuesday, September 4th. Argus upgraded PG&E from a “hold” rating to a “buy” rating in a research report on Thursday, September 6th. Finally, Bank of America restated a “hold” rating and issued a $48.00 price target on shares of PG&E in a research report on Wednesday, August 1st.

In related news, COO Nickolas Stavropoulos sold 1,161 shares of PG&E stock in a transaction dated Wednesday, August 22nd. The stock was 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 owns 78,223 shares in the company, valued at approximately $3,503,608.17. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Company insiders own 0.15% of the company’s stock.

Institutional investors have recently bought and sold shares of the stock. BlackRock Inc. boosted its stake in PG&E by 6.6% in the 2nd quarter. BlackRock Inc. now owns 47,850,122 shares of the utilities provider’s stock worth $2,036,500,000 after buying an additional 2,951,423 shares during the last quarter. Wells Fargo & Company MN boosted its stake in PG&E by 11.2% in the 2nd quarter. Wells Fargo & Company MN now owns 5,260,065 shares of the utilities provider’s stock worth $223,868,000 after buying an additional 527,892 shares during the last quarter. Legal & General Group Plc boosted its stake in PG&E by 0.8% in the 2nd quarter. Legal & General Group Plc now owns 4,799,269 shares of the utilities provider’s stock worth $204,254,000 after buying an additional 37,271 shares during the last quarter. Commonwealth Bank of Australia boosted its stake in PG&E by 2.8% in the 3rd quarter. Commonwealth Bank of Australia now owns 4,777,171 shares of the utilities provider’s stock worth $220,013,000 after buying an additional 129,106 shares during the last quarter. Finally, Wedge Capital Management L L P NC boosted its stake in PG&E by 38.8% in the 3rd quarter. Wedge Capital Management L L P NC now owns 4,086,199 shares of the utilities provider’s stock worth $188,006,000 after buying an additional 1,141,491 shares during the last quarter. Hedge funds and other institutional investors own 81.50% of the company’s stock.

Shares of PCG stock traded down $1.00 during mid-day trading on Thursday, reaching $47.80. The stock had a trading volume of 7,942,490 shares, compared to its average volume of 5,501,798. PG&E has a 12-month low of $37.30 and a 12-month high of $57.11. The stock has a market cap of $25.20 billion, a P/E ratio of 12.99, a P/E/G ratio of 3.65 and a beta of -0.09. The company has a quick ratio of 0.60, a current ratio of 0.67 and a debt-to-equity ratio of 0.93.

PG&E (NYSE:PCG) last announced its quarterly earnings results 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 net margin of 0.89% and a return on equity of 10.17%. 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 prior year, the business earned $1.12 EPS. The company’s quarterly revenue was down 3.0% compared to the same quarter last year. On average, sell-side analysts anticipate that PG&E will post 3.8 earnings per share for the current year.

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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