Morgan Stanley Reaffirms Their Hold Rating on PG&E (PCG)

Morgan Stanley analyst Stephen Byrd maintained a Hold rating on PG&E (PCGResearch Report) today and set a price target of $12.50. The company’s shares opened today at $14.05.

Byrd covers the Utilities sector, focusing on stocks such as Spire, Pinnacle West Capital, and American Electric Power. According to TipRanks, Byrd has an average return of 8.1% and a 53.24% success rate on recommended stocks.

Currently, the analyst consensus on PG&E is a Strong Buy with an average price target of $16.69.

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Based on PG&E’s latest earnings release for the quarter ending June 30, the company reported a quarterly revenue of $5.12 billion and a net profit of $360 million. In comparison, last year the company earned a revenue of $5.22 billion and had a net profit of $401 million

Based on the recent corporate insider activity of 52 insiders, corporate insider sentiment is negative on the stock. This means that over the past quarter there has been an increase of insiders selling their shares of PCG in relation to earlier this year.

TipRanks has tracked 36,000 company insiders and found that a few of them are better than others when it comes to timing their transactions. See which 3 stocks are most likely to make moves following their insider activities.

Incorporated in 1905, California-based Pacific Gas & Electric Corporation provides natural gas and electricity to customers in northern and central California. It generates electricity using nuclear, hydroelectric, fossil fuel-fired, fuel cell, and photovoltaic sources.

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