March 31:
Citigroup Inc. downgraded shares of PG&E Co. (NYSE:PCG) from a buy rating to a neutral rating in a research note released on Friday morning, TheFlyOnTheWall.com reports. They currently have $46.00 target price on the stock, down from their previous target price of $52.00.
PG&E Co. (NYSE:PCG) traded up 3.13% during mid-day trading on Friday, hitting $43.20. 7,109,556 shares of the company’s stock traded hands. PG&E Co. has a 52-week low of $39.42 and a 52-week high of $48.50. The stock’s 50-day moving average is $43.64 and its 200-day moving average is $41.65. The company has a market cap of $19.771 billion and a price-to-earnings ratio of 22.89.
PG&E Co. (NYSE:PCG) last announced its earnings results on Tuesday, February 11th. The company reported $0.42 EPS for the quarter, missing the Thomson Reuters consensus estimate of $0.75 by $0.33. During the same quarter in the prior year, the company posted $0.59 earnings per share. Analysts expect that PG&E Co. will post $3.02 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which is scheduled for Tuesday, April 15th. Investors of record on Monday, March 31st will be paid a dividend of $0.455 per share. This represents a $1.82 annualized dividend and a dividend yield of 4.34%. The ex-dividend date is Thursday, March 27th.
Other equities research analysts have also recently issued reports about the stock. Analysts at Deutsche Bank downgraded shares of PG&E Co. from a buy rating to a hold rating in a research note on Friday. They now have a $45.00 price target on the stock. Separately, analysts at Zacks reiterated a neutral rating on shares of PG&E Co. in a research note on Wednesday, March 12th. They now have a $45.00 price target on the stock. Finally, analysts at Wolfe Research upgraded shares of PG&E Co. from a market perform rating to an outperform rating in a research note on Tuesday, March 11th. Ten research analysts have rated the stock with a hold rating and four have issued a buy rating to the company. PG&E Co. presently has an average rating of Hold and a consensus target price of $45.33.
PG&E Corporation is a holding company that conducts its business through Pacific Gas and Electric Company (NYSE:PCG).
To view Citigroup’s full report, visit Citigroup’s official website.
Source: http://tickerreport.com/banking-finance/175447/pge-co-stock-rating-lowered-by-citigroup-inc-pcg/?
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