NEW YORK (TheStreet) -- PG&E (PCG) - Get Report was downgraded to "neutral" from "outperform" at Credit Suisse, with a lowered price target to $58 from $61.

Yesterday, PG&E announced its 2015 second quarter financial results with earnings of $0.83 per share on revenue of $4.22 billion. This compares to earnings of $0.57 per share on revenue of $4 billion for the same period one year ago.

"PG&E found a balance on their second quarter call that focused largely on the goals of continued healing at the company, both with management changes and recognition that more work needs to be done with stakeholders including the CPUC," Credit Suisse analysts said.

PG&E is a holding company that has operations including electric utility operations and natural gas utility operations. It operates in northern and central California.

Shares of PG&E are dropping 0.21% to $52.45 in early morning trading Thursday.

Separately, TheStreet Ratings team rates PG&E CORP as a Buy with a ratings score of B+. TheStreet Ratings Team has this to say about their recommendation:

"We rate PG&E CORP (PCG) a BUY. This is driven by several positive factors, which we believe should have a greater impact than any weaknesses, and should give investors a better performance opportunity than most stocks we cover. The company's strengths can be seen in multiple areas, such as its revenue growth, good cash flow from operations, largely solid financial position with reasonable debt levels by most measures, solid stock price performance and notable return on equity. We feel its strengths outweigh the fact that the company has had sub par growth in net income.

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