Credit Suisse slashes price target on PG&E Corporation [PCG] – find out why.

PG&E Corporation [NYSE: PCG] closed the trading session at $16.06 on 12/23/22. The day’s price range saw the stock hit a low of $15.89, while the highest price level was $16.09. The company report on December 20, 2022 that Enhancing Reliability and Safety: PG&E and Enphase Energy Partner to Provide Home Battery Systems for 100 Vulnerable, Low-Income Customers.

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Residential Storage Initiative Expected to Expand to Several Hundred More Residential Customers in 2023.

Pacific Gas and Electric Company (PG&E) and Enphase Energy are launching a home battery energy storage program to support vulnerable, low-income customers during power outages. Through the Residential Storage Initiative, PG&E is providing battery systems at no cost to approximately 100 residential customers who have been frequently impacted by outages as a result of PG&E’s Enhanced Powerline Safety Settings (EPSS).

The stocks have a year to date performance of 32.29 percent and weekly performance of -0.12 percent. The stock has been moved at 56.68 percent over the last six months. The stock has performed 5.38 percent around the most recent 30 days and changed 25.96 percent over the most recent 3-months.

If compared to the average trading volume of 28.44M shares, PCG reached to a volume of 8481695 in the most recent trading day, which is why market watchdogs consider the stock to be active.

Here’s what leading stock market gurus have to say about PG&E Corporation [PCG]:

Based on careful and fact-backed analyses by Wall Street experts, the current consensus on the target price for PCG shares is $18.00 per share. Analysis on target price and performance of stocks is usually carefully studied by market experts, and the current Wall Street consensus on PCG stock is a recommendation set at 2.00. This rating represents a strong Buy recommendation, on the scale from 1 to 5, where 5 would mean strong sell, 4 represents Sell, 3 is Hold, and 2 indicates Buy.

Credit Suisse have made an estimate for PG&E Corporation shares, keeping their opinion on the stock as Outperform, with their previous recommendation back on April 26, 2022. The new note on the price target was released on August 16, 2021, representing the official price target for PG&E Corporation stock. Previously, the target price had yet another raise from $12 to $15.50, while Wells Fargo kept a Overweight rating on PCG stock.

The Average True Range (ATR) for PG&E Corporation is set at 0.37, with the Price to Sales ratio for PCG stock in the period of the last 12 months amounting to 1.82. The Price to Book ratio for the last quarter was 1.44, with the Price to Cash per share for the same quarter was set at 0.11.

PCG stock trade performance evaluation

PG&E Corporation [PCG] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -0.12. With this latest performance, PCG shares gained by 5.38% in over the last four-week period, additionally plugging by 56.68% over the last 6 months – not to mention a rise of 33.83% in the past year of trading.

Overbought and oversold stocks can be easily traced with the Relative Strength Index (RSI), where an RSI result of over 70 would be overbought, and any rate below 30 would indicate oversold conditions. An RSI rate of 50 would represent a neutral market momentum. The current RSI for PCG stock in for the last two-week period is set at 60.75, with the RSI for the last a single of trading hit 61.13, and the three-weeks RSI is set at 60.40 for PG&E Corporation [PCG]. The present Moving Average for the last 50 days of trading for this stock 15.18, while it was recorded at 15.94 for the last single week of trading, and 12.71 for the last 200 days.

PG&E Corporation [PCG]: An insightful look at the core fundamentals

Operating Margin for any stock indicates how profitable investing would be, and PG&E Corporation [PCG] shares currently have an operating margin of +10.37 and a Gross Margin at +10.37. PG&E Corporation’s Net Margin is presently recorded at -0.43.

Return on Equity for this stock declined to -0.42, with Return on Assets sitting at -0.08.

PG&E Corporation’s liquidity data is similarly interesting compelling, with a Quick Ratio of 0.80 and a Current Ratio set at 0.90.

Earnings per share (EPS) analysis for PG&E Corporation [PCG] stock

The progress of the company may be observed through the prism of EPS growth rate, while Wall Street analysts are focusing on predicting the 5-year EPS growth rate for PCG. When it comes to the mentioned value, analysts are expecting to see the 5-year EPS growth rate for PG&E Corporation go to 4.74%.

PG&E Corporation [PCG]: Insider Ownership positions

There are presently around $28,393 million, or 73.20% of PCG stock, in the hands of institutional investors. The top three institutional holders of PCG stocks are: VANGUARD GROUP INC with ownership of 219,490,888, which is approximately 15.735% of the company’s market cap and around 12.60% of the total institutional ownership; CAPITAL RESEARCH GLOBAL INVESTORS, holding 200,528,674 shares of the stock with an approximate value of $3.22 billion in PCG stocks shares; and FMR LLC, currently with $3.0 billion in PCG stock with ownership of nearly -3.719% of the company’s market capitalization.

Positions in PG&E Corporation stocks held by institutional investors increased at the end of October and at the time of the October reporting period, where 236 institutional holders increased their position in PG&E Corporation [NYSE:PCG] by around 266,819,170 shares. Additionally, 200 investors decreased positions by around 89,395,856 shares, while 83 investors held positions by with 1,411,729,398 shares. The mentioned changes placed institutional holdings at 1,767,944,424 shares, according to the latest SEC report filing. PCG stock had 74 new institutional investments in for a total of 21,713,855 shares, while 75 institutional investors sold positions of 13,992,902 shares during the same period.


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