PG&E (NYSE:PCG) Downgraded by Guggenheim to Neutral

PG&E (NYSE:PCG) was downgraded by analysts at Guggenheim from a “buy” rating to a “neutral” rating in a report released on Tuesday,Briefing.com Automated Import reports.

Several other equities analysts have also commented on PCG. Morgan Stanley lowered shares of PG&E from an “equal weight” rating to an “underweight” rating and lowered their price objective for the company from $20.00 to $16.50 in a research report on Friday. JPMorgan Chase & Co. restated an “overweight” rating and issued a $22.00 price target on shares of PG&E in a report on Wednesday, February 12th. Barclays lowered their price objective on shares of PG&E from $24.00 to $23.00 and set an “overweight” rating for the company in a research report on Monday, January 27th. Mizuho boosted their price target on PG&E from $24.00 to $26.00 and gave the company an “outperform” rating in a report on Wednesday, November 27th. Finally, BMO Capital Markets assumed coverage on PG&E in a report on Monday, January 13th. They issued an “outperform” rating and a $21.00 target price for the company. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating and ten have issued a buy rating to the company’s stock. According to MarketBeat.com, PG&E currently has a consensus rating of “Moderate Buy” and an average price target of $22.05.

PG&E Price Performance

Shares of NYSE:PCG opened at $15.30 on Tuesday. The company has a debt-to-equity ratio of 2.02, a current ratio of 1.04 and a quick ratio of 0.99. PG&E has a 1-year low of $14.99 and a 1-year high of $21.72. The firm’s 50 day simple moving average is $17.83 and its two-hundred day simple moving average is $19.18. The company has a market capitalization of $40.00 billion, a P/E ratio of 11.95, a P/E/G ratio of 1.09 and a beta of 0.99.

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

Insiders Place Their Bets

In related news, CEO Patricia K. Poppe sold 55,555 shares of the business’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 completion of the transaction, the chief executive officer now directly owns 1,460,222 shares in the company, valued at $30,168,186.52. The trade was a 3.67 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. 0.15% of the stock is currently owned by insiders.

Hedge Funds Weigh In On PG&E

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

PG&E Company Profile

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.