Is PG&E Corp. (NYSE: PCG) Stock Ready To Get A Higher Bid?

In the latest trading session, 3.21 million PG&E Corp. (NYSE:PCG) shares changed hands as the company’s beta touched 1.17. With the company’s most recent per share price at $17.64 changed hands at -$0.04 or -0.25% at last look, the market valuation stands at $37.62B. PCG’s current price is a discount, trading about -3.12% off its 52-week high of $18.19. The share price had its 52-week low at $14.71, which suggests the last value was 16.61% up since then. When we look at PG&E Corp.’s average trading volume, we note the 10-day average is 13.28 million shares, with the 3-month average coming to 16.52 million.

Analysts gave the PG&E Corp. (PCG) stock a consensus recommendation rating of an Overweight, calculated at a mean rating of 1.93. If we narrow down to specifics, the data shows that 0 out of 14 analysts rate the stock as a Sell, with a further 2 assigning it an Overweight rating. Of the remaining, 4 recommended PCG as a Hold, 7 felt it is a Buy and 1 rated the stock as Underweight. PG&E Corp.’s EPS for the current quarter is expected to be $0.45.

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PG&E Corp. (NYSE:PCG) trade information

Instantly PCG was in red as seen in intraday trades today. With action 1.35%, the performance over the past five days has been green. The drop to weekly highs of 18.04 on Monday, 11/20/23 subtracted -0.25% to the stock’s daily price. The company’s shares are showing year-to-date upside of 8.46%, with the 5-day performance at 1.35% in the green. However, in the 30-day time frame, PG&E Corp. (NYSE:PCG) is 12.04% up. Looking at the short shares, we see there were 40.99 million shares sold at short interest cover period of 2.63 days.

The consensus price target for the stock as assigned by Wall Street analysts is $18.45, meaning bulls need an upside of 4.39% from its recent market value. According to analyst projections, PCG’s forecast low is $14.00 with $21.00 as the target high. To hit the forecast high, the stock’s price needs a -19.05% plunge from its current level, while the stock would need to tank 20.63% for it to hit the projected low.

PG&E Corp. (PCG) estimates and forecasts

Data shows that the PG&E Corp. 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 7.46% over the past 6 months, a 10.00% in annual growth rate that is considerably higher than the industry average of 6.90%. 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 Corp. will rise 73.10%, while the growth in revenue is estimated to hit 17.20% for the next quarter. Year-over-year growth is forecast to reach 8.00% 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 $6.88 billion. 1 analysts are of the opinion that PG&E Corp.’s revenue for the quarter ending Mar 2024 will be $6.3 billion. The company’s revenue for the corresponding quarters a year ago was $5.37 billion and $6.21 billion respectively. According to analysts, the company will likely register a growth in its current quarter sales, forecast at 28.10%. The estimates for the next quarter sales put growth at 1.50%.

Looking at the company’s year-on-year earnings, data shows that the past 5-year has an earnings growth rate of -23.43%. The 2023 estimates are for PG&E Corp. earnings to increase by 9.83%, but the outlook for the next 5-year period is at 9.80% per year.

PCG Dividends

PG&E Corp. is expected to release its next quarterly earnings report between February 21 and February 26. The 0.33% annual yield figure for the share gives it an annual dividend of 0.06. It is important to note, however, that the 0.33% dividend yield ratio should serve as a guide only, as you should also take into consideration many other aspects of a company’s operations and fundamentals before making any investment decision.

PG&E Corp. (NYSE:PCG)’s Major holders

If we look at who the major shareholders are, we find that insiders hold 2.84% of PG&E Corp. 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 Corp. 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 Investment Company Of America. 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, Investment Company Of America held about 2.81% of the shares, roughly 72.1 million shares worth around $1.16 billion.

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