Stocks of PG&E Corporation (NYSE:PCG) traded higher last session on Wall Street, down -0.20% to $14.99.
PCG stock price is now 6.27% away from the 50-day moving average and 22.93% away from the 200-day moving average. The market capitalization of the company currently stands at $35.87B.
With the price target of $17, Credit Suisse recently initiated with Outperform rating for PG&E Corporation (NYSE: PCG). On August 16, 2021, RBC Capital Mkts Upgraded its previous ‘Sector Perform’ rating to ‘Outperform’ on the stock keeping its target price maintained at $14, while ‘Wells Fargo’ rates the stock as ‘Overweight’.
In other news, PG&E Fire Victim Trust, 10% Owner sold 35,000,000 shares of the company’s stock on Oct 27. The stock was sold for $516,950,000 at an average price of $14.77. Upon completion of the transaction, the 10% Owner now directly owns 307,743,590 shares in the company, valued at $4.61 billion. An SEC document containing details of the transaction can be found on the SEC’s website. On Oct 04, 10% Owner PG&E Fire Victim Trust sold 35,000,000 shares of the business’s stock. A total of $477,750,000 was realized by selling the stock at an average price of $13.65. This leaves the insider owning 342,743,590 shares of the company worth $5.14 billion. Insiders disposed of 171,095,465 shares of company stock worth roughly $2.56 billion over the past 1 year. A total of 12.60% of the company’s stock is owned by insiders.
There have been several recent changes in the stakes of large investors in PCG stock. A new stake in PG&E Corporation shares was purchased by SAMLYN CAPITAL, LLC during the first quarter worth $68,993,000. LORD, ABBETT & CO. LLC invested $40,473,000 in shares of PCG during the first quarter. In the first quarter, NIPPON LIFE GLOBAL INVESTORS AMERICAS, INC. acquired a new stake in PG&E Corporation valued at approximately $32,552,000. NOKOTA MANAGEMENT, LP acquired a new stake in PCG for approximately $25,740,000. NEW YORK STATE TEACHERS RETIREMENT SYSTEM purchased a new stake in PCG valued at around $20,911,000 in the second quarter. In total, there are 641 active investors with 73.20% ownership of the company’s stock.
Monday’s opening bell rang with an opening price of $15.10 for PG&E Corporation (NYSE: PCG). During the past 12 months, PG&E Corporation has had a low of $9.64 and a high of $15.60. As of last week, the company has a debt-to-equity ratio of 2.28, a current ratio of 0.90, and a quick ratio of 0.80. The fifty day moving average price for PCG is $14.11 and a two-hundred day moving average price translates $12.19 for the stock.
The latest earnings results from PG&E Corporation (NYSE: PCG) was released for Sep, 2022. According to the Utilities – Regulated Electric Company, earnings per share came in at $0.29, beating analysts’ expectations of $0.2 by 0.09. This compares to -$0.55 EPS in the same period last year. The net profit margin was 8.20% and return on equity was 8.10% for PCG. The company reported revenue of $5.39 billion for the quarter, compared to $5.46 billion a year earlier. Comparatively to last year’s same quarter, the company’s quarterly revenue fell -1.3 percent. For the current quarter, analysts expect PCG to generate $5.6B in revenue.
Moreover, the firm recently paid out its quarterly dividend on 10/15/2017. Investors who held shares on 09/29/2017 were paid a $0.53 dividend.
PG&E Corporation(PCG) Company Profile
PG&E Corporation, through its subsidiary, Pacific Gas and Electric Company, engages in the sale and delivery of electricity and natural gas to customers in northern and central California, the United States. It generates electricity using nuclear, hydroelectric, fossil fuel-fired, fuel cell, and photovoltaic sources. As of December 31, 2021, the company owns and operates approximately 18,000 circuit miles of interconnected transmission lines; 33 electric transmission substations, approximately 108,000 circuit miles of distribution lines, 67 transmission switching substations, and 753 distribution substations; and natural gas transmission, storage, and distribution system consisting of approximately 43,800 miles of distribution pipelines, approximately 6,200 miles of backbone and local transmission pipelines, and various storage facilities. It serves residential, commercial, industrial, and agricultural customers, as well as natural gas-fired electric generation facilities. The company was incorporated in 1905 and is headquartered in San Francisco, California.