PG&E (PCG) Downgraded by ValuEngine

PG&E (NYSE:PCG) was downgraded by equities research analysts at ValuEngine from a “sell” rating to a “strong sell” rating in a research note issued to investors on Saturday.

PCG has been the topic of a number of other research reports. Goldman Sachs Group set a $49.00 price target on PG&E and gave the company a “hold” rating in a report on Friday, September 14th. Argus upgraded PG&E from a “hold” rating to a “buy” rating in a report on Thursday, September 6th. Bank of America restated a “hold” rating and set a $48.00 price target on shares of PG&E in a report on Wednesday, August 1st. Morgan Stanley upgraded PG&E to an “overweight” rating in a report on Wednesday, September 12th. Finally, Zacks Investment Research downgraded PG&E from a “strong-buy” rating to a “hold” rating in a report on Monday, October 22nd. One analyst has rated the stock with a sell rating, nine have assigned a hold rating and seven have issued a buy rating to the stock. The stock has an average rating of “Hold” and an average target price of $52.05.

Shares of NYSE:PCG opened at $39.92 on Friday. PG&E has a 1 year low of $37.30 and a 1 year high of $57.11. The stock has a market cap of $25.20 billion, a P/E ratio of 10.85, a price-to-earnings-growth ratio of 3.65 and a beta of -0.09. The company has a current ratio of 0.67, a quick ratio of 0.60 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 (EPS) 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 business had revenue of $4.38 billion for the quarter, compared to analysts’ expectations of $4.77 billion. During the same quarter in the prior year, the firm earned $1.12 EPS. The firm’s revenue for the quarter was down 3.0% on a year-over-year basis. On average, analysts expect that PG&E will post 3.8 earnings per share for the current fiscal year.

In other PG&E news, COO Nickolas Stavropoulos sold 1,161 shares of the company’s stock in a transaction that occurred on Wednesday, August 22nd. The stock was sold at an average price of $44.79, for a total transaction of $52,001.19. Following the transaction, 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 Securities & Exchange Commission, which can be accessed through this hyperlink. 0.15% of the stock is currently owned by corporate insiders.

Several hedge funds have recently bought and sold shares of PCG. Trexquant Investment LP bought a new stake in shares of PG&E in the 3rd quarter worth approximately $6,311,000. DekaBank Deutsche Girozentrale boosted its position in shares of PG&E by 2.4% in the 3rd quarter. DekaBank Deutsche Girozentrale now owns 77,765 shares of the utilities provider’s stock worth $3,703,000 after purchasing an additional 1,799 shares in the last quarter. FMR LLC boosted its position in shares of PG&E by 57.1% in the 3rd quarter. FMR LLC now owns 12,270,405 shares of the utilities provider’s stock worth $564,561,000 after purchasing an additional 4,459,321 shares in the last quarter. Blue Sky Asset Management LLC bought a new stake in shares of PG&E in the 3rd quarter worth approximately $643,000. Finally, Bank of New York Mellon Corp boosted its position in shares of PG&E by 23.3% in the 3rd quarter. Bank of New York Mellon Corp now owns 3,971,324 shares of the utilities provider’s stock worth $182,720,000 after purchasing an additional 750,685 shares in the last quarter. Hedge funds and other institutional investors own 81.50% 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 107,200 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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