In the last trading session, 12.79 million PG&E Corp. (NYSE:PCG) shares changed hands as the company’s beta touched 1.32. With the company’s per share price at $16.28 changed hands at -$0.13 or -0.79% during last session, the market valuation stood at $34.74B. PCG’s last price was a discount, traded about -12.53% off its 52-week high of $18.32. The share price had its 52-week low at $14.71, which suggests the last value was 9.64% up since then. When we look at PG&E Corp.’s average trading volume, we note the 10-day average is 14.91 million shares, with the 3-month average coming to 16.36 million.
PG&E Corp. (NYSE:PCG) trade information
Instantly PCG was in red as seen at the end of in last trading. With action 0.18%, the performance over the past five days has been green. The drop to weekly highs of 16.55 subtracted -0.79% to the stock’s daily price. The company’s shares are showing year-to-date downside of -9.71%, with the 5-day performance at 0.18% in the green. However, in the 30-day time frame, PG&E Corp. (NYSE:PCG) is -0.55% down. Looking at the short shares, we see there were 29.39 million shares sold at short interest cover period of 1.52 days.
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 -4.68% over the past 6 months, a 9.76% in annual growth rate that is considerably higher than the industry average of 6.10%. Moreover, analysts have looked to higher expectations by upgrading its fiscal year 2024 revenue estimates. The rating firms predict current quarter revenue for PG&E Corp. will rise 17.20%, while the growth in revenue is estimated to hit 30.40% for the next quarter. Year-over-year growth is forecast to reach 3.60% up from the last financial year.
Consensus estimates given by 3 financial analysts project the company’s revenue in the current quarter to hit an average of $6.66 billion. 3 analysts are of the opinion that PG&E Corp.’s revenue for the quarter ending Jun 2024 will be $6.03 billion. The company’s revenue for the corresponding quarters a year ago was $6.21 billion and $5.29 billion respectively. According to analysts, the company will likely register a growth in its current quarter sales, forecast at 7.20%. The estimates for the next quarter sales put growth at 13.90%.
The 2024 estimates are for PG&E Corp. earnings to increase by 10.03%, but the outlook for the next 5-year period is at 10.20% per year.
PCG Dividends
PG&E Corp. is expected to release its next quarterly earnings report between May 02 and May 06. The 0.06% annual yield figure for the share gives it an annual dividend of 0.01. It is important to note, however, that the 0.06% 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 3.31% of PG&E Corp. shares while 97.69% of the shares are in the hands of institutional holders. The share float percentage for the stock currently stands at 101.03%. There are 97.69% 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.
