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PG&E Corporation (NYSE: PCG): Time To Buy Over The Next Few Months

In the latest trading session, 1.5 million PG&E Corporation (NYSE:PCG) shares changed hands as the company’s beta touched 1.12. With the company’s most recent per share price at $17.42 changing hands around $0.12 or 0.72% at last look, the market valuation stands at $44.51B. PCG’s current price is a discount, trading about -4.42% off its 52-week high of $18.19. The share price had its 52-week low at $12.13, which suggests the last value was 30.37% up since then. When we look at PG&E Corporation’s average trading volume, we note the 10-day average is 27.84 million shares, with the 3-month average coming to 17.95 million.

PG&E Corporation (NYSE:PCG) trade information

Instantly PCG is in green as seen in intraday trades today. With action 2.86%, the performance over the past five days has been green. The jump to weekly highs of 17.48 on Monday, 09/18/23 added 0.72% to the stock’s daily price. The company’s shares are showing year-to-date upside of 7.16%, with the 5-day performance at 2.86% in the green. However, in the 30-day time frame, PG&E Corporation (NYSE:PCG) is 4.22% up. Looking at the short shares, we see there were 25.63 million shares sold at short interest cover period of 1.8 days.

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PG&E Corporation (PCG) estimates and forecasts

Data shows that the PG&E Corporation share is performing relatively much better than most of its peers within the same industry. As can be gleaned from the statistics, the company’s share value shot 8.91% over the past 6 months, a 10.00% in annual growth rate that is considerably higher than the industry average of 2.90%. Moreover, analysts have looked to higher expectations by upgrading its fiscal year 2023 revenue estimates. The rating firms predict current quarter revenue for PG&E Corporation will rise 20.70%, while the growth in revenue is estimated to hit 30.80% for the next quarter. Year-over-year growth is forecast to reach 7.90% up from the last financial year.

Consensus estimates given by 1 financial analysts project the company’s revenue in the current quarter to hit an average of $5.85 billion. 1 analysts are of the opinion that PG&E Corporation’s revenue for the quarter ending Dec 2023 will be $6.5 billion. The company’s revenue for the corresponding quarters a year ago was $5.39 billion and $5.37 billion respectively. According to analysts, the company will likely register a growth in its current quarter sales, forecast at 8.50%. The estimates for the next quarter sales put growth at 21.10%.

Looking at the company’s year-on-year earnings, data shows that the past 5-year has an earnings growth rate of -24.70%. The 2023 estimates are for PG&E Corporation earnings to increase by 10.00%, but the outlook for the next 5-year period is at 4.40% per year.

PCG Dividends

PG&E Corporation is expected to release its next quarterly earnings report between October 25 and October 30.

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

If we look at who the major shareholders are, we find that insiders hold 2.84% of PG&E Corporation shares while 74.19% of the shares are in the hands of institutional holders. The share float percentage for the stock currently stands at 76.36%. There are 74.19% institutions holding the PG&E Corporation stock share, with Vanguard Group Inc the top institutional holder. As of Jun 29, 2023, the company held 9.60% of the shares, roughly 246.68 million PCG shares worth $4.26 billion.

FMR, LLC holds the second largest percentage of outstanding shares, with 6.69% or 171.99 million shares worth $2.97 billion as of Jun 29, 2023.

Among Mutual Funds, the top two as of Jun 29, 2023 were Vanguard Total Stock Market Index Fund and Growth Fund Of America Inc. With 73.19 million shares estimated at $1.26 billion under it, the former controlled 2.85% of total outstanding shares. On the other hand, Growth Fund Of America Inc held about 2.33% of the shares, roughly 59.8 million shares worth around $1.03 billion.

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