An issue of PG&E Co. (NYSE:PCG) bonds rose 2.4% against their face value during trading on Tuesday. The debt issue has a 6.05% coupon and is set to mature on March 1, 2034. The bonds in the issue are now trading at $93.48 and were trading at $88.63 last week. Price changes in a company’s bonds in credit markets sometimes anticipate parallel changes in its stock price.

A number of analysts recently issued reports on the stock. Zacks Investment Research downgraded shares of PG&E from a “buy” rating to a “hold” rating in a report on Thursday, December 20th. Barclays set a $30.00 price target on shares of PG&E and gave the stock a “hold” rating in a report on Monday, November 19th. Wells Fargo & Co lowered their price target on shares of PG&E from $60.00 to $47.00 and set an “outperform” rating on the stock in a report on Monday, December 10th. Wolfe Research lowered their price target on shares of PG&E from $50.00 to $40.00 in a report on Wednesday, November 14th. Finally, Morgan Stanley set a $31.00 price target on shares of PG&E and gave the stock a “hold” rating in a report on Tuesday, November 27th. Four analysts have rated the stock with a sell rating, eleven have issued a hold rating and four have assigned a buy rating to the company. The company presently has an average rating of “Hold” and an average price target of $23.39.

Shares of NYSE PCG traded up $1.19 during mid-day trading on Thursday, reaching $19.40. The company’s stock had a trading volume of 21,993,985 shares, compared to its average volume of 38,011,441. The stock has a market capitalization of $9.44 billion, a price-to-earnings ratio of 5.27, a price-to-earnings-growth ratio of 1.57 and a beta of -0.46. The company has a quick ratio of 0.62, a current ratio of 0.67 and a debt-to-equity ratio of 0.93. PG&E Co. has a 1-year low of $5.07 and a 1-year high of $49.42.

Several hedge funds and other institutional investors have recently modified their holdings of PCG. Baupost Group LLC MA raised its position in shares of PG&E by 321.8% in the third quarter. Baupost Group LLC MA now owns 18,979,790 shares of the utilities provider’s stock valued at $873,260,000 after buying an additional 14,479,790 shares during the last quarter. Oregon Public Employees Retirement Fund raised its position in shares of PG&E by 3,173.6% in the fourth quarter. Oregon Public Employees Retirement Fund now owns 7,108,993 shares of the utilities provider’s stock valued at $299,000 after buying an additional 6,891,831 shares during the last quarter. Hound Partners LLC acquired a new stake in shares of PG&E in the third quarter valued at about $307,087,000. FMR LLC raised its position in shares of PG&E by 57.1% in the third quarter. FMR LLC now owns 12,270,405 shares of the utilities provider’s stock valued at $564,561,000 after buying an additional 4,459,321 shares during the last quarter. Finally, BlueMountain Capital Management LLC raised its position in shares of PG&E by 2,496.7% in the third quarter. BlueMountain Capital Management LLC now owns 4,307,967 shares of the utilities provider’s stock valued at $198,210,000 after buying an additional 4,142,068 shares during the last quarter. Institutional investors and hedge funds own 80.87% of the company’s stock.

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PG&E Company Profile (NYSE:PCG)

PG&E Corporation, through its subsidiary, Pacific Gas and Electric Company, engages in the sale and delivery of electricity and natural gas to residential, commercial, industrial, and agricultural customers in northern and central California, the United States. The company's electricity distribution network consists of approximately 107,200 circuit miles of distribution lines, 59 transmission switching substations, and 605 distribution substations; and electricity transmission network comprises approximately 19,200 circuit miles of interconnected transmission lines and 92 electric transmission substations.

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