In a report released today, Stephen Byrd from Morgan Stanley maintained a Hold rating on PG&E (PCG – Research Report), with a price target of $13.00. The company’s shares closed last Thursday at $10.59.
According to TipRanks.com, Byrd is a 5-star analyst with an average return of 9.8% and a 57.0% success rate. Byrd covers the Utilities sector, focusing on stocks such as Constellation Energy Corporation, American Electric Power, and Nextera Energy Partners.
PG&E has an analyst consensus of Moderate Buy, with a price target consensus of $16.00.
Based on PG&E’s latest earnings release for the quarter ending March 31, the company reported a quarterly revenue of $5.8 billion and net profit of $478 million. In comparison, last year the company earned revenue of $4.72 billion and had a net profit of $123 million.
Based on the recent corporate insider activity of 45 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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