UBS Group Trims PG&E (NYSE:PCG) Target Price to $13.00

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PG&E (NYSE:PCG) had its price objective reduced by UBS Group from $24.00 to $13.00 in a research note published on Tuesday, AnalystRatings.com reports. They currently have a neutral rating on the utilities provider’s stock.

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

NYSE:PCG opened at $11.68 on Tuesday. PG&E has a fifty-two week low of $5.07 and a fifty-two week high of $49.42. The company has a debt-to-equity ratio of 0.20, a current ratio of 2.03 and a quick ratio of 1.92. The stock has a market capitalization of $5.65 billion, a PE ratio of 2.92, a price-to-earnings-growth ratio of 1.21 and a beta of 0.29. The business’s 50-day simple moving average is $17.92 and its 200-day simple moving average is $18.86.

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, beating the Thomson Reuters’ consensus estimate 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 business had revenue of $3.94 billion for the quarter, compared to analysts’ expectations of $4.30 billion. During the same quarter in the previous year, the business posted $1.16 EPS. On average, research analysts expect that PG&E will post 3.9 earnings per share for the current year.

Several large investors have recently bought and sold shares of the business. BNP Paribas Arbitrage SA increased its position in shares of PG&E by 0.6% during the 2nd quarter. BNP Paribas Arbitrage SA now owns 197,427 shares of the utilities provider’s stock worth $4,525,000 after purchasing an additional 1,192 shares during the last quarter. Allianz Asset Management GmbH increased its position in shares of PG&E by 5.2% during the 2nd quarter. Allianz Asset Management GmbH now owns 24,682 shares of the utilities provider’s stock worth $566,000 after purchasing an additional 1,225 shares during the last quarter. Comerica Bank increased its position in shares of PG&E by 5.5% during the 2nd quarter. Comerica Bank now owns 24,205 shares of the utilities provider’s stock worth $447,000 after purchasing an additional 1,258 shares during the last quarter. Aperio Group LLC acquired a new position in shares of PG&E during the 2nd quarter worth approximately $35,000. Finally, Tobam increased its position in shares of PG&E by 19.9% during the 2nd quarter. Tobam now owns 9,783 shares of the utilities provider’s stock worth $224,000 after purchasing an additional 1,626 shares during the last quarter. 91.53% of the stock is currently owned by hedge funds and other institutional investors.

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.

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Analyst Recommendations for PG&E (NYSE:PCG)

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