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.
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