PG&E (PCG) Receives a Hold from Barclays
Barclays analyst Eric Beaumont maintained a Hold rating on PG&E (PCG) yesterday and set a price target of $9.00. The company’s shares closed last Monday at $9.25.
According to TipRanks.com, Beaumont is a 3-star analyst with an average return of 1.0% and a 47.5% success rate. Beaumont covers the Utilities sector, focusing on stocks such as Brookfield Infrastructure, Public Service Enterprise, and American Electric Power.
The word on The Street in general, suggests a Moderate Buy analyst consensus rating for PG&E with a $16.43 average price target.
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Based on PG&E’s latest earnings release for the quarter ending December 31, the company reported a quarterly revenue of $4.74 billion and GAAP net loss of $3.61 billion. In comparison, last year the company earned revenue of $4.09 billion and had a GAAP net loss of $6.87 billion.
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Pacific Gas & Electric Co. engages in the provision of natural gas and electric services. It owns and operates an integrated natural gas transportation, storage, and distribution system in California and also offers backbone gas transmission, gas delivery, and gas storage services as separate and distinct services. The firm also offers gas supplying, gathering facilities. The company was founded in 1905 and is headquartered in San Francisco, CA.