PG&E (NYSE:PCG) Lowered to “Sell” at Citigroup

Citigroup lowered shares of PG&E (NYSE:PCG) from a buy rating to a sell rating in a research report released on Monday morning, BenzingaRatingsTable reports. Citigroup currently has $4.00 price objective on the utilities provider’s stock, down from their previous price objective of $33.00.

Other equities analysts have also issued research reports about the stock. Wolfe Research lowered shares of PG&E from an outperform rating to a peer perform rating in a research report on Friday, June 28th. Zacks Investment Research upgraded shares of PG&E from a sell rating to a hold rating and set a $19.00 target price for the company in a research report on Tuesday, July 23rd. Morgan Stanley increased their target price on shares of PG&E from $17.50 to $23.00 and gave the company an equal weight rating in a research report on Monday, July 15th. Evercore ISI set a $25.00 target price on shares of PG&E and gave the company a hold rating in a research report on Monday, August 12th. Finally, Wells Fargo & Co set a $25.00 target price on shares of PG&E and gave the company a hold rating in a research report on Monday, August 12th. Three analysts have rated the stock with a sell rating, fourteen have given a hold rating and one has issued a buy rating to the company. The company currently has a consensus rating of Hold and an average target price of $20.12.

PCG stock opened at $12.25 on Monday. The company has a quick ratio of 1.92, a current ratio of 2.03 and a debt-to-equity ratio of 0.20. PG&E has a fifty-two week low of $5.07 and a fifty-two week high of $49.42. The firm’s 50-day simple moving average is $18.13 and its 200 day simple moving average is $18.86. The stock has a market cap of $7.56 billion, a PE ratio of 3.06, a price-to-earnings-growth ratio of 1.63 and a beta of 0.29.



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

Several large investors have recently bought and sold shares of PCG. Aperio Group LLC purchased a new stake in shares of PG&E in the second quarter worth approximately $35,000. Sageworth Trust Co purchased a new stake in shares of PG&E in the second quarter worth approximately $42,000. Penserra Capital Management LLC purchased a new stake in shares of PG&E in the first quarter worth approximately $42,000. NEXT Financial Group Inc purchased a new stake in shares of PG&E in the second quarter worth approximately $43,000. Finally, Liberty Wealth Management LLC lifted its position in shares of PG&E by 836.1% in the second quarter. Liberty Wealth Management LLC now owns 2,022 shares of the utilities provider’s stock worth $46,000 after purchasing an additional 1,806 shares in the last quarter. Institutional investors own 91.53% of the company’s stock.

About PG&E

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.

Further Reading: Gross Domestic Product (GDP)

Analyst Recommendations for PG&E (NYSE:PCG)

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