PG&E (NYSE:PCG) Stock Rating Lowered by Citigroup

PG&E (NYSE:PCG) was downgraded by Citigroup from a “buy” rating to a “sell” rating in a research note issued on Monday, Marketbeat reports. They presently have a $4.00 price target on the utilities provider’s stock, down from their prior price target of $33.00. Citigroup‘s target price suggests a potential downside of 65.69% from the company’s previous close.

A number of other research firms also recently commented on PCG. Evercore ISI set a $25.00 target price on PG&E and gave the company a “hold” rating in a report on Monday, August 12th. Morgan Stanley raised their target price on PG&E from $17.50 to $23.00 and gave the company an “equal weight” rating in a report on Monday, July 15th. Wells Fargo & Co set a $25.00 target price on PG&E and gave the company a “hold” rating in a report on Monday, August 12th. Zacks Investment Research raised PG&E from a “sell” rating to a “hold” rating and set a $19.00 target price for the company in a report on Tuesday, July 23rd. Finally, Wolfe Research downgraded PG&E from an “outperform” rating to a “peer perform” rating in a report on Friday, June 28th. Three investment analysts have rated the stock with a sell rating, fourteen have given a hold rating and one has given a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and an average price target of $20.12.

PG&E stock opened at $11.66 on Monday. PG&E has a one year low of $5.07 and a one year high of $49.42. 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 business has a fifty day moving average of $18.32 and a two-hundred day moving average of $18.87. The company has a market cap of $7.56 billion, a P/E ratio of 2.92, a price-to-earnings-growth ratio of 1.63 and a beta of 0.29.

PG&E (NYSE:PCG) last released its earnings results on Friday, August 9th. The utilities provider reported $1.10 EPS for the quarter, beating analysts’ consensus estimates of $0.99 by $0.11. PG&E had a positive return on equity of 15.16% and a negative net margin of 53.07%. The company had revenue of $3.94 billion during the quarter, compared to the consensus estimate of $4.30 billion. During the same quarter last year, the company earned $1.16 earnings per share. Sell-side analysts predict that PG&E will post 3.9 EPS for the current year.

Several large investors have recently added to or reduced their stakes in the company. Geode Capital Management LLC grew its holdings in PG&E by 8.8% in the fourth quarter. Geode Capital Management LLC now owns 6,960,585 shares of the utilities provider’s stock worth $165,035,000 after purchasing an additional 563,036 shares during the period. Dimensional Fund Advisors LP grew its holdings in PG&E by 1.5% in the fourth quarter. Dimensional Fund Advisors LP now owns 1,129,030 shares of the utilities provider’s stock worth $26,817,000 after purchasing an additional 17,128 shares during the period. Strs Ohio grew its holdings in PG&E by 205.5% in the first quarter. Strs Ohio now owns 200,024 shares of the utilities provider’s stock worth $3,560,000 after purchasing an additional 134,540 shares during the period. One Tusk Investment Partners LP purchased a new stake in PG&E in the first quarter worth about $2,314,000. Finally, Avitas Wealth Management LLC purchased a new stake in PG&E in the first quarter worth about $387,000. 91.53% of the stock is owned by institutional investors and hedge funds.

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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