In a report issued on November 19, Shahriar Pourreza from Guggenheim reiterated a Hold rating on PG&E Corp (PCG). The company’s shares closed on Wednesday at $24.30.
According to TipRanks.com, Pourreza is a top 100 analyst with an average return of 13.8% and a 81.0% success rate. Pourreza covers the Utilities sector, focusing on stocks such as Newjersey Resources Corp, American Electric Power, and Edison International.
The word on The Street in general, suggests a Moderate Buy analyst consensus rating for PG&E Corp with a $40.22 average price target, implying a 65.5% upside from current levels. In a report issued on November 15, Morgan Stanley also downgraded the stock to Hold with a $31 price target.
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Based on PG&E Corp’s latest earnings release for the quarter ending September 30, the company reported a quarterly revenue of $4.38 billion and net profit of $567 million. In comparison, last year the company earned revenue of $4.52 billion and had a net profit of $553 million.
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PG&E Corp. is a holding company, which engages in generation, transmission, and distribution of electricity and natural gas to customers. The company was founded in 1995 and is headquartered in San Francisco, CA.
