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PG&E No Longer a “Conviction Buy” at Goldman Sachs (PCG)

Electric and gas utility operator PG&E Corporation ( PCG ) on Tuesday saw its shares removed from Goldman Sachs' prestigious "Conviction Buy" List.

The firm said it made the move because the stock lacks any near-term catalysts. Goldman had upgraded the stock back in April, and it's fallen more than $4 since then.

PG&E shares were unchanged in premarket trading Tuesday.

The Bottom Line

Shares of PG&E ( PCG ) have a 4.46% dividend yield, based on last night's closing stock price of $40.77. The stock has technical support in the $35-$37 price area. If the shares can firm up, we see overhead resistance around the $42-$44 price levels.

PG&E Corporation ( PCG ) is not recommended at this time, holding a Dividend.com DARS™ Rating of 3.3 out of 5 stars.

Be sure to visit our complete recommended list of the Best Dividend Stocks , as well as a detailed explanation of our ratings system here .

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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