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How Will PG&E Corporation (NYSE: PCG) Perform In The Next Few Months?

PG&E Corporation (NYSE:PCG) has a beta value of 1.13 and has seen 8.0 million shares traded in the last trading session. The company, currently valued at $38.50B, closed the last trade at $15.83 per share which meant it gained $0.1 on the day or 0.64% during that session. The PCG stock price is -4.17% off its 52-week high price of $16.49 and 39.1% above the 52-week low of $9.64. If we look at the company’s 10-day average daily trading volume, we find that it stood at 15.21 million shares traded. The 3-month trading volume is 16.19 million shares.

The consensus among analysts is that PG&E Corporation (PCG) is an Overweight stock at the moment, with a recommendation rating of 2.10. 0 analysts rate the stock as a Sell, while 0 rate it as Overweight. 4 out of 13 have rated it as a Hold, with 8 advising it as a Buy. 1 have rated the stock as Underweight. The expected earnings per share for the stock is $0.32.

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PG&E Corporation (NYSE:PCG) trade information

Sporting 0.64% in the green in last session, the stock has traded in the red over the last five days, with the highest price hit on Tuesday, 01/24/23 when the PCG stock price touched $15.83 or saw a rise of 0.94%. Year-to-date, PG&E Corporation shares have moved -2.64%, while the 5-day performance has seen it change -0.25%. Over the past 30 days, the shares of PG&E Corporation (NYSE:PCG) have changed -0.75%. Short interest in the company has seen 126.5 million shares shorted with days to cover at 2.66.

Wall Street analysts have a consensus price target for the stock at $18.64, which means that the shares’ value could jump 15.08% from current levels. The projected low price target is $15.00 while the price target rests at a high of $22.00. In that case, then, we find that the current price level is -38.98% off the targeted high while a plunge would see the stock lose 5.24% from current levels.

PG&E Corporation (PCG) estimates and forecasts

Figures show that PG&E Corporation shares have underperformed across the wider relevant industry. The company’s shares have gained 47.26% over the past 6 months, with this year growth rate of 2.78%, compared to 7.20% for the industry. Other than that, the company has, however, increased its growth outlook for the 2023 fiscal year revenue. Growth estimates for the current quarter are 45.50% and -16.70% for the next quarter. Revenue growth from the last financial year stood is estimated to be 7.20%.

3 analysts offering their estimates for the company have set an average revenue estimate of $5.6 billion for the current quarter. 2 have an estimated revenue figure of $6.19 billion for the next quarter concluding in Mar 2023. Year-ago sales stood $5.25 billion and $5.23 billion respectively for this quarter and the next, and analysts expect sales will grow by 6.70% for the current quarter and 18.40% for the next.

If we evaluate the company’s growth over the last 5-year and for the next 5-year period, we find that annual earnings growth was -15.10% over the past 5 years. Earnings growth for 2023 is a modest 95.10% while over the next 5 years, the company’s earnings are expected to increase by 4.74%.

PCG Dividends

PG&E Corporation is expected to release its next earnings report between February 08 and February 13 this year, and investors are excited at the prospect of better dividends despite the company’s debt issue.

PG&E Corporation (NYSE:PCG)’s Major holders

Insiders own 13.97% of the company shares, while shares held by institutions stand at 68.15% with a share float percentage of 79.21%. Investors are also buoyed by the number of investors in a company, with PG&E Corporation having a total of 641 institutions that hold shares in the company. The top two institutional holders are FMR, LLC with over 194.32 million shares worth more than $1.94 billion. As of Jun 29, 2022, FMR, LLC held 7.88% of shares outstanding.

The other major institutional holder is Vanguard Group, Inc. (The), with the holding of over 189.65 million shares as of Jun 29, 2022. The firm’s total holdings are worth over $1.89 billion and represent 7.69% of shares outstanding.

Also the top two Mutual Funds that are holding company’s shares are Investment Company Of America and Growth Fund Of America Inc. As of Sep 29, 2022, the former fund manager holds about 3.71% shares in the company for having 91.36 million shares of worth $1.14 billion while later fund manager owns 87.19 million shares of worth $1.09 billion as of Sep 29, 2022, which makes it owner of about 3.54% of company’s outstanding stock.

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