PG&E (NYSE:PCG) was downgraded by analysts at Citigroup from a “buy” rating to a “neutral” rating in a research note issued to investors on Monday, MarketBeat.com reports.

Several other research firms have also commented on PCG. Wolfe Research decreased their price objective on shares of PG&E from $50.00 to $40.00 in a research report on Wednesday, November 14th. Morgan Stanley set a $66.00 price objective on shares of PG&E and gave the company a “buy” rating in a research note on Wednesday, October 10th. Bank of America reissued a “buy” rating and set a $63.00 target price (up previously from $57.00) on shares of PG&E in a research report on Tuesday, November 6th. Argus increased their target price on shares of PG&E to $36.00 and gave the stock a “buy” rating in a research report on Friday, November 16th. Finally, Zacks Investment Research upgraded PG&E from a “hold” rating to a “buy” rating and set a $27.00 price target for the company in a report on Wednesday, December 19th. Three analysts have rated the stock with a sell rating, eleven have issued a hold rating and three have assigned a buy rating to the company. The stock has an average rating of “Hold” and an average price target of $28.34.

PG&E stock traded down $1.47 during trading on Monday, reaching $6.91. The stock had a trading volume of 172,879,267 shares, compared to its average volume of 46,191,707. PG&E has a 52-week low of $5.07 and a 52-week high of $49.42. The company has a quick ratio of 0.62, a current ratio of 0.67 and a debt-to-equity ratio of 0.93. The company has a market capitalization of $9.12 billion, a P/E ratio of 1.88, a P/E/G ratio of 1.26 and a beta of 0.01.

PG&E (NYSE:PCG) last announced its earnings results on Monday, November 5th. The utilities provider reported $1.13 EPS for the quarter, missing analysts’ consensus estimates of $1.14 by ($0.01). The business had revenue of $4.38 billion during the quarter, compared to analyst estimates of $4.77 billion. PG&E had a net margin of 0.89% and a return on equity of 10.17%. The business’s revenue was down 3.0% compared to the same quarter last year. During the same period in the previous year, the firm earned $1.12 earnings per share. As a group, research analysts anticipate that PG&E will post 3.82 earnings per share for the current fiscal year.

Several hedge funds have recently added to or reduced their stakes in the company. First Hawaiian Bank increased its holdings in PG&E by 42.7% in the fourth quarter. First Hawaiian Bank now owns 2,599 shares of the utilities provider’s stock valued at $62,000 after purchasing an additional 778 shares during the last quarter. NEXT Financial Group Inc acquired a new position in shares of PG&E during the third quarter worth about $104,000. FNY Investment Advisers LLC boosted its position in shares of PG&E by 35,614.3% during the third quarter. FNY Investment Advisers LLC now owns 2,500 shares of the utilities provider’s stock worth $115,000 after buying an additional 2,493 shares during the period. Bessemer Group Inc. boosted its position in PG&E by 67.1% during the third quarter. Bessemer Group Inc. now owns 2,893 shares of the utilities provider’s stock valued at $133,000 after purchasing an additional 1,162 shares during the last quarter. Finally, Destination Wealth Management boosted its position in PG&E by 78.2% during the third quarter. Destination Wealth Management now owns 3,624 shares of the utilities provider’s stock valued at $167,000 after purchasing an additional 1,590 shares during the last quarter. Institutional investors own 82.57% of the company’s stock.

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 107,200 circuit miles of distribution lines, 59 transmission switching substations, and 605 distribution substations; and electricity transmission network comprises approximately 19,200 circuit miles of interconnected transmission lines and 92 electric transmission substations.

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Analyst Recommendations for PG&E (NYSE:PCG)

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