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

PG&E (NYSE:PCG - Get Free Report) was downgraded by investment analysts at Guggenheim from a "buy" rating to a "neutral" rating in a research report issued to clients and investors on Tuesday, MarketBeat.com reports.

Other equities analysts have also recently issued research reports about the company. Barclays cut their price target on PG&E from $24.00 to $23.00 and set an "overweight" rating for the company in a report on Monday, January 27th. Morgan Stanley cut PG&E from an "equal weight" rating to an "underweight" rating and cut their price target for the company from $20.00 to $16.50 in a report on Friday, February 14th. UBS Group cut their price target on PG&E from $24.00 to $22.00 and set a "buy" rating for the company in a report on Thursday, January 30th. JPMorgan Chase & Co. restated an "overweight" rating and set a $22.00 price target on shares of PG&E in a report on Wednesday, February 12th. Finally, BMO Capital Markets assumed coverage on PG&E in a report on Monday, January 13th. They set an "outperform" rating and a $21.00 price target for the company. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating and ten have given a buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average target price of $22.23.

PG&E Price Performance

Shares of NYSE:PCG traded up $0.25 during trading on Tuesday, hitting $15.94. 32,045,884 shares of the company's stock were exchanged, compared to its average volume of 28,269,914. The company has a debt-to-equity ratio of 1.86, a current ratio of 1.05 and a quick ratio of 1.00. PG&E has a 52-week low of $14.99 and a 52-week high of $21.72. The business's 50-day simple moving average is $17.50 and its 200 day simple moving average is $19.10. The company has a market cap of $42.57 billion, a price-to-earnings ratio of 13.86, a PEG ratio of 1.09 and a beta of 0.99.

PG&E (NYSE:PCG - Get Free Report) last released its earnings results on Thursday, February 13th. The utilities provider reported $0.31 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.31. PG&E had a return on equity of 10.94% and a net margin of 10.27%. The firm had revenue of $6.63 billion during the quarter, compared to analysts' expectations of $7.29 billion. During the same quarter last year, the business posted $0.47 earnings per share. As a group, equities analysts predict that PG&E will post 1.49 EPS for the current year.

Insider Buying and Selling

In other PG&E news, Director Arno Lockheart Harris purchased 6,389 shares of the firm's stock in a transaction that occurred on Thursday, February 20th. The stock was purchased at an average cost of $15.66 per share, with a total value of $100,051.74. Following the purchase, the director now owns 14,864 shares of the company's stock, valued at approximately $232,770.24. The trade was a 75.39 % increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Patricia K. Poppe sold 55,555 shares of the firm's stock in a transaction that occurred on Monday, December 2nd. The stock was sold at an average price of $20.66, for a total value of $1,147,766.30. Following the sale, the chief executive officer now directly owns 1,460,222 shares of the company's stock, valued at $30,168,186.52. This represents a 3.67 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.15% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On PG&E

A number of institutional investors and hedge funds have recently bought and sold shares of the company. Mackenzie Financial Corp raised its position in PG&E by 22.6% during the 4th quarter. Mackenzie Financial Corp now owns 1,703,979 shares of the utilities provider's stock valued at $34,386,000 after purchasing an additional 314,119 shares in the last quarter. Castlekeep Investment Advisors LLC bought a new position in shares of PG&E in the 4th quarter worth $253,000. GF Fund Management CO. LTD. bought a new position in shares of PG&E in the 4th quarter worth $6,823,000. Vise Technologies Inc. bought a new position in shares of PG&E in the 4th quarter worth $252,000. Finally, Woodline Partners LP bought a new position in shares of PG&E in the 4th quarter worth $2,649,000. 78.56% of the stock is owned by institutional investors.

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.