PG&E (NYSE:PCG) had its price target cut by Morgan Stanley from $23.00 to $16.00 in a research note issued to investors on Wednesday, BenzingaRatingsTable reports. They currently have an equal weight rating on the utilities provider’s stock.

A number of other analysts have also issued reports on the company. ValuEngine raised PG&E from a strong sell rating to a sell rating in a research report on Wednesday, October 2nd. Wells Fargo & Co set a $12.00 price target on shares of PG&E and gave the stock a hold rating in a research note on Sunday, September 15th. UBS Group dropped their price target on shares of PG&E from $24.00 to $13.00 and set a neutral rating for the company in a research note on Tuesday, August 20th. Barclays dropped their price target on shares of PG&E from $14.00 to $10.00 and set an equal weight rating for the company in a research note on Tuesday, October 1st. Finally, Evercore ISI set a $25.00 price target on shares of PG&E and gave the stock a hold rating in a research note on Monday, August 12th. Two investment analysts have rated the stock with a sell rating, thirteen have given a hold rating and one has assigned a buy rating to the stock. The company currently has a consensus rating of Hold and a consensus price target of $17.41.

NYSE PCG traded down $3.22 on Wednesday, reaching $7.76. The stock had a trading volume of 23,058,441 shares, compared to its average volume of 11,799,768. The firm has a market capitalization of $4.22 billion, a price-to-earnings ratio of 1.94, a P/E/G ratio of 1.31 and a beta of 0.41. 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 12-month low of $5.07 and a 12-month high of $49.42. The stock has a fifty day moving average price of $10.86 and a two-hundred day moving average price of $17.32.

PG&E (NYSE:PCG) last announced its earnings results on Friday, August 9th. The utilities provider reported $1.10 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.99 by $0.11. The company had revenue of $3.94 billion for the quarter, compared to analyst estimates of $4.30 billion. PG&E had a positive return on equity of 15.16% and a negative net margin of 53.07%. During the same quarter in the previous year, the company earned $1.16 earnings per share. Sell-side analysts forecast that PG&E will post 3.88 earnings per share for the current fiscal year.

Hedge funds have recently modified their holdings of the stock. Aperio Group LLC acquired a new position in shares of PG&E during the second quarter worth $35,000. Sageworth Trust Co acquired a new position in shares of PG&E during the second quarter worth $42,000. NEXT Financial Group Inc acquired a new position in shares of PG&E during the second quarter worth $43,000. Liberty Wealth Management LLC grew its stake in shares of PG&E by 836.1% during 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. Finally, Coastal Investment Advisors Inc. grew its stake in shares of PG&E by 444.0% during the second quarter. Coastal Investment Advisors Inc. now owns 2,720 shares of the utilities provider’s stock worth $62,000 after purchasing an additional 2,220 shares in the last quarter. Hedge funds and other institutional investors own 90.55% 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.

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Analyst Recommendations for PG&E (NYSE:PCG)

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