PG&E Co. (NYSE:PCG) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a report released on Sunday, Market Beat Ratings reports.

According to Zacks, “PG&E Corporation systematic investments in infrastructure projects backed by a stable financial position will allow it to improve service reliability and meet increasing customer demand. Further, steady growth in customer count is expected to boost the company’s top line. However, the company’s third-quarter 2015 earnings and revenues missed the Zacks Consensus Estimate. The top and bottom lines were also down year over year. The downside was due to the timing of the final decision in the 2014 General Rate Case ("GRC") received in the third quarter of 2014. Consequently, the company narrowed its full-year guidance keeping in mind the revised schedule for the Gas Transmission Rate Case. Cost of compliance to new and stringent regulations is major concern as well.”

A number of large investors have made changes to their positions in the company. Capital Fund Management S.A. acquired a new stake in shares of PG&E Co. during the fourth quarter valued at about $13,431,000. Mizuho Securities USA Inc. acquired a new stake in shares of PG&E Co. during the fourth quarter valued at about $6,590,000. Hexavest Inc. increased its stake in shares of PG&E Co. by 9.6% in the fourth quarter. Hexavest Inc. now owns 1,055,244 shares of the company’s stock valued at $56,128,000 after buying an additional 92,411 shares in the last quarter. James Investment Research Inc. increased its stake in shares of PG&E Co. by 49.3% in the fourth quarter. James Investment Research Inc. now owns 276,193 shares of the company’s stock valued at $14,690,000 after buying an additional 91,206 shares in the last quarter. Finally, DekaBank Deutsche Girozentrale increased its stake in shares of PG&E Co. by 72.2% in the fourth quarter. DekaBank Deutsche Girozentrale now owns 156,386 shares of the company’s stock valued at $8,437,000 after buying an additional 65,573 shares in the last quarter.

PG&E Co. (NYSE:PCG) traded up 2.14% during mid-day trading on Friday, reaching $54.91. The company’s stock had a trading volume of 3,727,550 shares. The firm has a 50-day moving average of $52.92 and a 200 day moving average of $52.28. The firm has a market capitalization of $26.93 billion and a price-to-earnings ratio of 30.32. PG&E Co. has a 1-year low of $47.33 and a 1-year high of $59.03.

The business also recently announced a quarterly dividend, which was paid on Friday, January 15th. Stockholders of record on Thursday, December 31st were issued a dividend of $0.455 per share. This represents a $1.82 annualized dividend and a dividend yield of 3.31%. The ex-dividend date was Tuesday, December 29th.

Several other research analysts have also recently issued reports on PCG. Macquarie increased their price target on PG&E Co. from $54.00 to $59.00 and gave the stock an “outperform” rating in a research note on Monday, November 2nd. Barclays increased their price target on PG&E Co. from $56.00 to $61.00 and gave the stock an “overweight” rating in a research note on Thursday, October 29th. Jefferies Group decreased their price target on PG&E Co. from $64.50 to $59.50 and set a “buy” rating for the company in a research note on Thursday, October 29th. Sanford C. Bernstein reissued an “outperform” rating on shares of PG&E Co. in a research note on Monday, November 23rd. Finally, Citigroup Inc. began coverage on PG&E Co. in a research note on Tuesday, November 17th. They issued a “neutral” rating and a $55.00 price target for the company. Five equities research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. The company has a consensus rating of “Buy” and a consensus target price of $58.09.

PG&E Corporation is a holding company. The Company’s primary operating subsidiary is Pacific Gas and Electric Company (NYSE:PCG). 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.

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