PG&E Corporation (PCG) was Upgraded by RBC Capital Mkts to ” Outperform” according to the research note released today. The brokerage firm has raised the Price Target to $ 71 from a previous price target of $60 . Earlier the firm had a rating of “Sector Perform ” on the company shares. RBC Capital Mkts advised their investors in a research report released on Jul 15, 2016.
Many Wall Street Analysts have commented on PG&E Corporation. Company shares were Reiterated by Mizuho on Jun 29, 2016 to “Buy”, Firm has raised the Price Target to $ 67 from a previous price target of $64 .Company shares were Reiterated by Mizuho on May 24, 2016 to “Buy”, Firm has raised the Price Target to $ 64 from a previous price target of $56 .
On the company’s financial health, PG&E Corporation reported $0.82 EPS for the quarter, beating the analyst consensus estimate by $ 0.07 according to the earnings call on May 4, 2016. Analyst had a consensus of $0.75. The company had revenue of $3974.00 million for the quarter, compared to analysts expectations of $4041.23 million. The company’s revenue was up 1.9% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.87 EPS.
PG&E Corporation opened for trading at $64.18 and hit $64.59 on the upside on Wednesday, eventually ending the session at $64.56, with a gain of 1.35% or 0.86 points. The heightened volatility saw the trading volume jump to 25,36,846 shares. Company has a market cap of $32,024 M.
In a different news, on Mar 8, 2016, Kent M Harvey (SVP, Finance) sold 17,920 shares at $56.24 per share price. According to the SEC, on Mar 8, 2016, Hyun Park (SVP and General Counsel) sold 6,807 shares at $56.35 per share price. On Mar 8, 2016, John R Simon (EVP-CorpSvcs & Human Resources) sold 3,899 shares at $56.34 per share price, according to the Form-4 filing with the securities and exchange commission.
PG&E Corporation is a holding company. The Company’s primary operating subsidiary is Pacific Gas and Electric Company (the Utility). The Utility’s operations include electric utility operations and natural gas utility operations. It operates in northern and central California. The Utility generates electricity and provides electricity transmission and distribution services throughout its service territory in northern and central California to residential commercial industrial and agricultural customers. The Utility provides natural gas transportation services to customers which include small commercial and residential customers and to non-core customers which include industrial commercial and natural gas-fired electric generation facilities that are connected to the Utility’s gas system in its service territory.