PG&E (PCG) Given a $18.00 Price Target by Morgan Stanley Analysts

Morgan Stanley set a $18.00 target price on PG&E (NYSE:PCG) in a research note published on Monday morning, TipRanks reports. The firm currently has a hold rating on the utilities provider’s stock.

Several other equities research analysts also recently issued reports on PCG. JPMorgan Chase & Co. downgraded PG&E from an overweight rating to a neutral rating and cut their price objective for the company from $39.00 to $22.00 in a report on Monday, January 14th. Evercore ISI downgraded PG&E to an outperform rating in a report on Monday, January 14th. Deutsche Bank downgraded PG&E from a buy rating to a hold rating and cut their price objective for the company from $28.00 to $10.00 in a report on Monday, January 14th. Citigroup cut PG&E from a buy rating to a neutral rating in a research note on Monday, January 14th. Finally, Macquarie cut PG&E from an outperform rating to a neutral rating in a research note on Monday, January 14th. Three research analysts have rated the stock with a sell rating, twelve have given a hold rating and four have issued a buy rating to the stock. The company has an average rating of Hold and a consensus target price of $24.12.

PCG stock opened at $18.17 on Monday. The company has a current ratio of 2.22, a quick ratio of 2.11 and a debt-to-equity ratio of 0.17. The firm has a market capitalization of $9.72 billion, a P/E ratio of 4.54, a PEG ratio of 2.08 and a beta of -0.23. PG&E has a 12-month low of $5.07 and a 12-month high of $49.42.

PG&E (NYSE:PCG) last posted its quarterly earnings data on Thursday, May 2nd. The utilities provider reported $1.04 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.90 by $0.14. The firm had revenue of $4.01 billion for the quarter, compared to the consensus estimate of $4.19 billion. PG&E had a positive return on equity of 13.30% and a negative net margin of 42.76%. On average, research analysts expect that PG&E will post 3.89 EPS for the current year.

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Commonwealth Equity Services LLC grew its stake in PG&E by 2.5% during the 1st quarter. Commonwealth Equity Services LLC now owns 24,166 shares of the utilities provider’s stock worth $430,000 after purchasing an additional 598 shares in the last quarter. First Hawaiian Bank boosted its position in shares of PG&E by 42.7% during the 4th quarter. First Hawaiian Bank now owns 2,599 shares of the utilities provider’s stock worth $62,000 after acquiring an additional 778 shares in the last quarter. Benjamin F. Edwards & Company Inc. boosted its position in shares of PG&E by 417.2% during the 4th quarter. Benjamin F. Edwards & Company Inc. now owns 1,417 shares of the utilities provider’s stock worth $34,000 after acquiring an additional 1,143 shares in the last quarter. Utah Retirement Systems boosted its position in shares of PG&E by 1.4% during the 1st quarter. Utah Retirement Systems now owns 97,666 shares of the utilities provider’s stock worth $1,739,000 after acquiring an additional 1,323 shares in the last quarter. Finally, Litman Gregory Asset Management LLC acquired a new position in shares of PG&E during the 4th quarter worth about $32,000. 80.20% of the stock is owned by hedge funds and other institutional investors.

PG&E Company Profile

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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Analyst Recommendations for PG&E (NYSE:PCG)

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