PG&E (PCG) Lowered to Sell at Guggenheim

PG&E (NYSE:PCG) was downgraded by Guggenheim from a “neutral” rating to a “sell” rating in a note issued to investors on Tuesday.

Several other analysts have also recently issued reports on PCG. Goldman Sachs Group cut shares of PG&E from a “buy” rating to a “hold” rating and set a $50.00 price target on the stock. in a research report on Tuesday. Evercore ISI reduced their price target on shares of PG&E from $66.00 to $61.00 in a research report on Monday, October 16th. ValuEngine cut shares of PG&E from a “buy” rating to a “hold” rating in a research report on Sunday. Citigroup reissued a “neutral” rating on shares of PG&E in a research report on Monday, December 18th. Finally, Barclays increased their price target on shares of PG&E from $69.00 to $72.00 and gave the stock an “overweight” rating in a research report on Friday, September 22nd. One equities research analyst has rated the stock with a sell rating, eleven have given a hold rating and six have issued a buy rating to the stock. PG&E presently has an average rating of “Hold” and an average target price of $62.62.

Shares of PG&E (NYSE:PCG) opened at $44.83 on Tuesday. The stock has a market cap of $23,061.57, a PE ratio of 10.31, a PEG ratio of 2.84 and a beta of 0.14. PG&E has a 1 year low of $41.61 and a 1 year high of $71.57. The company has a debt-to-equity ratio of 0.86, a quick ratio of 0.79 and a current ratio of 0.85.

PG&E (NYSE:PCG) last issued its quarterly earnings results on Thursday, November 2nd. The utilities provider reported $1.12 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.94 by $0.18. The business had revenue of $4.52 billion for the quarter, compared to analysts’ expectations of $4.82 billion. PG&E had a net margin of 12.59% and a return on equity of 11.94%. The business’s quarterly revenue was down 6.1% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.94 earnings per share. research analysts expect that PG&E will post 3.69 EPS for the current fiscal year.

In related news, VP David S. Thomason sold 700 shares of the firm’s stock in a transaction that occurred on Wednesday, November 15th. The shares were sold at an average price of $56.82, for a total value of $39,774.00. Following the sale, the vice president now owns 6,657 shares of the company’s stock, valued at $378,250.74. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. 0.15% of the stock is owned by company insiders.

Large investors have recently modified their holdings of the stock. Bank of Stockton acquired a new stake in PG&E in the third quarter valued at approximately $224,000. Blair William & Co. IL increased its stake in PG&E by 7.4% in the second quarter. Blair William & Co. IL now owns 4,315 shares of the utilities provider’s stock valued at $286,000 after purchasing an additional 298 shares during the last quarter. Vicus Capital purchased a new position in PG&E in the third quarter valued at approximately $342,000. Park Avenue Securities LLC purchased a new position in PG&E in the third quarter valued at approximately $415,000. Finally, Wealthsource Partners LLC purchased a new position in PG&E in the second quarter valued at approximately $420,000. 81.07% of the stock is currently owned by hedge funds and other institutional investors.

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PG&E Company Profile

PG&E Corporation is a holding company. The Company’s primary operating subsidiary is Pacific Gas and Electric Company (the Utility), which operates in northern and central California. The Utility is engaged in the sale and delivery of electricity and natural gas to customers. The Utility generates electricity and provides electricity transmission and distribution services throughout its service territory in northern and central California to residential, commercial, industrial, and agricultural customers.

Analyst Recommendations for PG&E (NYSE:PCG)

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