PG&E Co. (NYSE:PCG) was up 0.4% on Monday . The company traded as high as $23.22 and last traded at $23.17. Approximately 674,119 shares changed hands during mid-day trading, a decline of 89% from the average daily volume of 6,418,393 shares. The stock had previously closed at $23.08.
A number of equities research analysts have weighed in on PCG shares. Royal Bank of Canada cut their target price on PG&E from $45.00 to $8.00 in a research report on Friday, January 18th. They noted that the move was a valuation call. Bank of America cut their target price on PG&E from $44.00 to $22.00 and set a “buy” rating for the company in a research report on Wednesday, January 9th. Zacks Investment Research restated a “buy” rating and issued a $27.00 target price on shares of PG&E in a research report on Monday, December 31st. Wells Fargo & Co restated a “buy” rating on shares of PG&E in a research report on Monday, December 24th. Finally, Citigroup upgraded PG&E from a “neutral” rating to a “buy” rating and upped their target price for the stock from $11.00 to $33.00 in a research report on Tuesday, February 19th. Three equities research analysts have rated the stock with a sell rating, twelve have given a hold rating and four have given a buy rating to the stock. PG&E currently has a consensus rating of “Hold” and a consensus price target of $24.12.
The stock has a market cap of $12.18 billion, a P/E ratio of 5.95, a price-to-earnings-growth ratio of 1.73 and a beta of -0.37.
Large investors have recently made changes to their positions in the business. Litman Gregory Asset Management LLC acquired a new stake in PG&E during the 4th quarter valued at $32,000. Benjamin F. Edwards & Company Inc. raised its stake in PG&E by 417.2% during the 4th quarter. Benjamin F. Edwards & Company Inc. now owns 1,417 shares of the utilities provider’s stock valued at $34,000 after purchasing an additional 1,143 shares during the period. NuWave Investment Management LLC raised its stake in PG&E by 2,320.2% during the 4th quarter. NuWave Investment Management LLC now owns 2,517 shares of the utilities provider’s stock valued at $60,000 after purchasing an additional 2,413 shares during the period. Rational Advisors LLC raised its stake in PG&E by 2,320.2% during the 4th quarter. Rational Advisors LLC now owns 2,517 shares of the utilities provider’s stock valued at $60,000 after purchasing an additional 2,413 shares during the period. Finally, First Hawaiian Bank raised its stake in PG&E by 42.7% during the 4th 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 period. 83.66% of the stock is currently owned by institutional investors.
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About PG&E (NYSE:PCG)
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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