PG&E (NYSE:PCG) Lowered to “Neutral” Rating by Guggenheim

Guggenheim cut shares of PG&E (NYSE:PCG) from a buy rating to a neutral rating in a research report released on Tuesday morning, MarketBeat.com reports.

Several other brokerages have also recently issued reports on PCG. Morgan Stanley cut PG&E from an “equal weight” rating to an “underweight” rating and reduced their price objective for the stock from $20.00 to $16.50 in a report on Friday, February 14th. BMO Capital Markets assumed coverage on PG&E in a research note on Monday, January 13th. They issued an “outperform” rating and a $21.00 target price on the stock. JPMorgan Chase & Co. reissued an “overweight” rating and issued a $22.00 price target on shares of PG&E in a report on Wednesday, February 12th. UBS Group decreased their price target on shares of PG&E from $24.00 to $22.00 and set a “buy” rating on the stock in a research note on Thursday, January 30th. Finally, Mizuho raised their price objective on PG&E from $24.00 to $26.00 and gave the stock an “outperform” rating in a report on Wednesday, November 27th. One research analyst has rated the stock with a sell rating, one has assigned a hold rating and ten have assigned a buy rating to the stock. According to MarketBeat, PG&E has an average rating of “Moderate Buy” and a consensus price target of $22.23.

PG&E Stock Up 0.7 %

Shares of PG&E stock opened at $15.40 on Tuesday. The company has a quick ratio of 0.99, a current ratio of 1.04 and a debt-to-equity ratio of 2.02. PG&E has a 12-month low of $14.99 and a 12-month high of $21.72. The firm has a market capitalization of $40.29 billion, a PE ratio of 12.03, a price-to-earnings-growth ratio of 1.09 and a beta of 0.99. The stock’s fifty day moving average is $17.83 and its 200-day moving average is $19.18.

PG&E (NYSE:PCG) last posted its quarterly earnings data on Thursday, February 13th. The utilities provider reported $0.31 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.31. PG&E had a return on equity of 12.51% and a net margin of 11.11%. The firm had revenue of $6.63 billion for the quarter, compared to the consensus estimate of $7.29 billion. During the same quarter in the previous year, the company earned $0.47 EPS. Equities analysts anticipate that PG&E will post 1.36 earnings per share for the current year.

Insider Activity

In related news, CEO Patricia K. Poppe sold 55,555 shares of the company’s stock in a transaction on 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 sale, the chief executive officer now directly owns 1,460,222 shares of the company’s stock, valued at $30,168,186.52. This represents a 3.67 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Insiders own 0.15% of the company’s stock.

Hedge Funds Weigh In On PG&E

Large investors have recently modified their holdings of the stock. Versant Capital Management Inc increased its stake in PG&E by 68.3% during the fourth quarter. Versant Capital Management Inc now owns 1,543 shares of the utilities provider’s stock valued at $31,000 after purchasing an additional 626 shares during the last quarter. True Wealth Design LLC grew its holdings in shares of PG&E by 1,233.6% during the fourth quarter. True Wealth Design LLC now owns 1,827 shares of the utilities provider’s stock valued at $37,000 after purchasing an additional 1,690 shares during the last quarter. Colonial Trust Co SC raised its position in shares of PG&E by 563.0% during the 4th quarter. Colonial Trust Co SC now owns 1,916 shares of the utilities provider’s stock worth $39,000 after purchasing an additional 1,627 shares during the period. UMB Bank n.a. boosted its position in PG&E by 61.5% during the 4th quarter. UMB Bank n.a. now owns 3,956 shares of the utilities provider’s stock valued at $80,000 after purchasing an additional 1,506 shares during the period. Finally, Blue Trust Inc. grew its stake in PG&E by 77.7% during the 3rd quarter. Blue Trust Inc. now owns 4,195 shares of the utilities provider’s stock worth $83,000 after buying an additional 1,834 shares during the last quarter. Institutional investors own 78.56% of the company’s stock.

About PG&E

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.