In a report released today, Jeremy Tonet from J.P. Morgan maintained a Hold rating on PG&E (PCG – Research Report), with a price target of $14.00. The company’s shares closed last Wednesday at $12.16.
According to TipRanks.com, Tonet is a 4-star analyst with an average return of 7.1% and a 58.6% success rate. Tonet covers the Industrial Goods sector, focusing on stocks such as Enterprise Products Partners, Cheniere Energy Partners, and Dcp Midstream Partners.
The word on The Street in general, suggests a Moderate Buy analyst consensus rating for PG&E with a $16.36 average price target, a 37.2% upside from current levels. In a report issued on May 23, Morgan Stanley also maintained a Hold rating on the stock with a $13.50 price target.
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 40 insiders, corporate insider sentiment is positive on the stock. This means that over the past quarter there has been an increase of insiders buying 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.
Read More on PCG:
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