PG&E (NYSE:PCG) Coverage Initiated by Analysts at Credit Suisse Group

Equities researchers at Credit Suisse Group started coverage on shares of PG&E (NYSE:PCGGet Rating) in a note issued to investors on Monday, The Fly reports. The firm set an “outperform” rating on the utilities provider’s stock.

A number of other equities analysts also recently issued reports on the company. Mizuho raised their price target on PG&E from $16.00 to $18.00 in a research note on Tuesday, April 12th. Morgan Stanley lifted their target price on PG&E from $13.00 to $14.00 and gave the company an “equal weight” rating in a research report on Wednesday, April 20th. Finally, StockNews.com began coverage on PG&E in a research report on Thursday, March 31st. They set a “hold” rating on the stock. Four investment analysts have rated the stock with a hold rating and four have issued a buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Buy” and an average price target of $14.42.

Shares of PCG stock traded down $0.31 on Monday, reaching $11.82. The stock had a trading volume of 16,799,415 shares, compared to its average volume of 18,775,441. The stock has a market cap of $29.14 billion, a P/E ratio of -131.32, a price-to-earnings-growth ratio of 4.53 and a beta of 1.33. PG&E has a 1 year low of $8.24 and a 1 year high of $13.19. The company has a debt-to-equity ratio of 1.80, a quick ratio of 0.60 and a current ratio of 0.64. The company has a 50 day simple moving average of $11.72 and a 200 day simple moving average of $11.90.

PG&E (NYSE:PCGGet Rating) last released its quarterly earnings results on Thursday, February 10th. The utilities provider reported $0.28 earnings per share (EPS) for the quarter, hitting the Zacks’ consensus estimate of $0.28. The firm had revenue of $5.25 billion for the quarter, compared to the consensus estimate of $5.32 billion. PG&E had a positive return on equity of 10.07% and a negative net margin of 0.45%. The company’s revenue for the quarter was up 10.5% on a year-over-year basis. During the same period last year, the business posted $0.21 EPS. On average, equities research analysts anticipate that PG&E will post 1.09 earnings per share for the current fiscal year.

In other news, major shareholder Pg&E Fire Victim Trust sold 60,000,000 shares of the business’s stock in a transaction dated Thursday, April 14th. The stock was sold at an average price of $12.04, for a total value of $722,400,000.00. Following the transaction, the insider now directly owns 377,743,590 shares in the company, valued at $4,548,032,823.60. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. 0.14% of the stock is owned by insiders.

Hedge funds and other institutional investors have recently modified their holdings of the business. Meeder Asset Management Inc. increased its stake in PG&E by 2,386.5% during the third quarter. Meeder Asset Management Inc. now owns 2,760 shares of the utilities provider’s stock worth $26,000 after acquiring an additional 2,649 shares during the last quarter. Liberty Wealth Management LLC grew its stake in shares of PG&E by 302.1% during the third quarter. Liberty Wealth Management LLC now owns 3,394 shares of the utilities provider’s stock valued at $33,000 after buying an additional 2,550 shares during the last quarter. Northwestern Mutual Wealth Management Co. grew its stake in shares of PG&E by 53.8% during the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 3,414 shares of the utilities provider’s stock valued at $42,000 after buying an additional 1,194 shares during the last quarter. National Bank of Canada FI bought a new position in shares of PG&E during the fourth quarter valued at approximately $57,000. Finally, Covestor Ltd bought a new position in shares of PG&E during the fourth quarter valued at approximately $57,000. 78.38% of the stock is currently owned by institutional investors.

About PG&E (Get Rating)

PG&E Corporation, through its subsidiary, Pacific Gas and Electric Company, engages in the sale and delivery of electricity and natural gas to customers in northern and central California, the United States. It generates electricity using nuclear, hydroelectric, fossil fuel-fired, fuel cell, and photovoltaic sources.

Featured Articles

The Fly logo

Analyst Recommendations for PG&E (NYSE:PCG)

Receive News & Ratings for PG&E Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for PG&E and related companies with MarketBeat.com's FREE daily email newsletter.