Future Prospects And Stock Pricing Of PG&E Corp. (NYSE: PCG)

In the last trading session, 16.59 million shares of the PG&E Corp. (NYSE:PCG) were traded, and its beta was 1.32. Most recently the company’s share price was $16.56, and it changed around -$0.2 or -1.19% from the last close, which brings the market valuation of the company to $35.33B. PCG currently trades at a discount to its 52-week high of $18.32, offering almost -10.63% off that amount. The share price’s 52-week low was $14.71, which indicates that the current value has risen by an impressive 11.17% since then. We note from PG&E Corp.’s average daily trading volume that its 10-day average is 15.17 million shares, with the 3-month average coming to 16.73 million.

PG&E Corp. stock received a consensus recommendation rating of Buy, based on a mean score of 1.76. If we narrow it down even further, the data shows that 0 out of 14 analysts rate the stock as a Sell; another 1 rate it as Overweight. Among the rest, 6 recommended PCG as a Hold, whereas 7 deemed it a Buy, and 0 rated it as Underweight. PG&E Corp. is expected to report earnings per share of $0.34 for the current quarter.

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

Instantly PCG has showed a red trend with a performance of -1.19% at the end of last trading. The performance over the last five days has remained in the green territory. The company’s shares are currently down -8.15% year-to-date, but still up 0.91% over the last five days. On the other hand, PG&E Corp. (NYSE:PCG) is -0.78% down in the 30-day period. We can see from the shorts that 27.86 million shares have been sold at a short interest cover period of 1.75 day(s).

The consensus price target as assigned by Wall Street analysts is $17.4, which translates to bulls needing to increase their stock price by 4.83% from its current value. Analyst projections state that PCG is forecast to be at a low of $13 and a high of $21.

PG&E Corp. (PCG) estimates and forecasts

PG&E Corp. share prices are performing particularly well compared to other companies within the same industry. As is evident from the statistics, the company’s shares have risen 1.72 percent over the past six months and at a 9.76% annual growth rate that is well above the industry average of 6.00%. Moreover, analysts have decided to roll up on their fiscal year 2024 revenue estimates. The rating firms predict that it will gain 17.20% in revenue this quarter, and will report an increase of 30.40% in the next quarter. The year-over-year growth rate is expected to be 3.60%, up from the previous year.

Consensus estimates provided by 3 financial analysts predict the company will bring in an average of $6.66 billion in revenue for the current quarter. 3 analysts expect PG&E Corp. to make $6.03 billion in revenue for the quarter ending Jun 2024. The company’s sales for the same quarters a year ago were $6.21 billion and $5.29 billion respectively. Analysts predict that the company’s current quarter sales will jump, forecast at 7.20%. Forecasts for the next quarter put sales growth at 13.90%.

PG&E Corp. earnings are expected to increase by 10.03% in 2024, but the outlook is positive 10.20% per year for the next five years.

PCG Dividends

PG&E Corp.’s next quarterly earnings report is expected to be released around May 02 and May 06. The annual dividend yield of the stock is 0.12 percent and its annual dividend per share was 0.02. It is important to note, however, that the 0.12% dividend yield ratio should be regarded as a guide only, as many other factors should be taken into consideration before making any investment decision.

PG&E Corp. (NYSE:PCG)’s Major holders

Upon looking at major shareholders, it appears that insiders hold 3.31% of PG&E Corp. shares, and 97.72% of them are in the hands of institutional investors. The stock currently has a share float of 101.06%. PG&E Corp. stock is held by 910 institutions, with Vanguard Group Inc being the largest institutional investor. By Jun 29, 2023, it held 9.60% of the shares, which is about 246.68 million shares worth $4.26 billion.

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

Vanguard Total Stock Market Index Fund and Investment Company Of America were the top two Mutual Funds as of Jun 29, 2023. The former held 73.19 million shares worth $1.26 billion, making up 2.85% of all outstanding shares. On the other hand, Investment Company Of America held roughly 72.1 million shares worth around $1.16 billion, which represents about 2.81% of the total shares outstanding.