PG&E (NYSE:PCG) issued its earnings results on Thursday. The utilities provider reported $1.11 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.01 by $0.10, Fidelity Earnings reports. PG&E had a positive return on equity of 15.16% and a negative net margin of 53.07%. The business had revenue of $4.43 billion during the quarter, compared to analyst estimates of $4.39 billion.
Shares of NYSE PCG traded up $0.46 during midday trading on Friday, hitting $6.48. 15,330,147 shares of the company’s stock traded hands, compared to its average volume of 15,338,995. PG&E has a 1 year low of $3.55 and a 1 year high of $44.58. The stock has a market capitalization of $4.23 billion, a price-to-earnings ratio of 1.62, a price-to-earnings-growth ratio of 0.91 and a beta of 0.32. The company has a debt-to-equity ratio of 0.20, a quick ratio of 1.92 and a current ratio of 2.03. The firm has a fifty day moving average of $8.55 and a 200 day moving average of $15.48.
A number of equities analysts have weighed in on PCG shares. Barclays decreased their target price on PG&E from $14.00 to $10.00 and set an “equal weight” rating for the company in a research report on Tuesday, October 1st. Morgan Stanley decreased their target price on PG&E from $23.00 to $16.00 and set an “equal weight” rating for the company in a research report on Wednesday, October 9th. Evercore ISI set a $25.00 target price on PG&E and gave the stock a “hold” rating in a research report on Monday, August 12th. UBS Group decreased their target price on PG&E from $13.00 to $10.00 and set a “neutral” rating for the company in a research report on Friday, October 11th. Finally, Citigroup lowered PG&E from a “neutral” rating to a “sell” rating and decreased their target price for the stock from $12.00 to $5.00 in a research report on Friday, October 11th. Three analysts have rated the stock with a sell rating, twelve have given a hold rating and one has given a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and an average price target of $16.70.
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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