PG&E (PCG) Receives a Buy from Goldman Sachs
Goldman Sachs analyst Carly Davenport maintained a Buy rating on PG&E yesterday and set a price target of $23.00. The company’s shares closed yesterday at $16.31.
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Davenport covers the Utilities sector, focusing on stocks such as Duke Energy, Ameren, and Eversource Energy. According to TipRanks, Davenport has an average return of 2.9% and a 60.00% success rate on recommended stocks.
PG&E has an analyst consensus of Strong Buy, with a price target consensus of $23.09, representing a 41.57% upside. In a report released on May 18, Truist Financial also maintained a Buy rating on the stock with a $22.00 price target.
Based on PG&E’s latest earnings release for the quarter ending March 31, the company reported a quarterly revenue of $6.88 billion and a net profit of $885 million. In comparison, last year the company earned a revenue of $5.98 billion and had a net profit of $634 million
Based on the recent corporate insider activity of 68 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.
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