Monthly Stock Report for Pacific Gas & Electric Co. (PCG)
Publication Date: September 22, 2024
Company Overview
Pacific Gas & Electric Co. (PCG), headquartered in Oakland, California, is a leading utility company specializing in the regulated electric utilities sector. Through its subsidiary, the Pacific Gas and Electric Company, PG&E delivers electricity and natural gas across northern and central California. Established in 1905, PG&E has built a diverse energy generation portfolio comprising nuclear, hydroelectric, fossil fuels, fuel cells, and photovoltaic sources, making it a crucial component of the region’s energy infrastructure. In the regulated electric utilities industry, which is marked by stable demand and controlled pricing, PG&E reported a total revenue of approximately $24.78 billion. Given its strong financial foundations and market position, analysts recommend a “buy” rating for the stock, with a projected target high price of $26.00, making it an attractive opportunity for investors.
Stock Performance and Sentiment
Currently trading at $20.08, PG&E has been displaying promising upward momentum in the market. With 2,615,200,000 shares outstanding and short interest at 43,941,004 shares (approximately 1.87% of its float), investor sentiment appears cautiously optimistic overall. Analysts have set a mean target price of $22.38, indicating moderate growth potential, while the asset recently approached its fifty-two week high of $20.65. The fifty-day moving average stands at $18.792, reinforcing the prevailing upward trend. This data suggests a collective bullish sentiment reflected in the strong “buy” recommendation, backed by a consensus mean score of 2.0 from 14 analysts.
Financial Outlook
Pacific Gas and Electric Co. continues to demonstrate robust financial performance, with impressive total revenues that reflect solid business operations. While the EBITDA figure remains unavailable, the company’s considerable revenue base illustrates its stability and potential for future growth. The target price analysis provides a favorable outlook for investors, indicating a target high of $26.00 and a target low of $18.00. As PG&E navigates its way through a dynamic regulatory environment and shifting market conditions, the metrics underscore a resilient business model, appealing to both current and prospective investors aiming for a foothold in the utilities sector.
| Metric | Value |
|---|---|
| Market Cap | $52.5b |
| Total Debt | $60.6b |
| Total Cash | $1.3b |
| Shares Outstanding | 2.6b |
| Float Shares | 2.1b |
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