PG&E Corp (PCG) Price

The P/E ratio of PG&E Corp is 13.0672

Ms. Patricia Poppe is the Chief Executive Officer of PG&E Corp, joining the firm since 2021.

The current price of PCG is $14.93, it has increased 0.3% in the last trading day.

PG&E Corp belongs to Utilities industry and the sector is Utilities

PG&E Corp's current market cap is $32.8B

According to wall street analysts, 16 analysts have made analyst ratings for PG&E Corp, including 6 strong buy, 8 buy, 5 hold, 2 sell, and 6 strong sell

You call this a move, bro? PCG is up less than 1%, which is more of a slow crawl than a sprint. This slight upward drift isn't from a single piece of news today but is likely the market continuing to digest some very positive recent developments, namely a significant analyst price target upgrade and major legislative support that de-risks the company's biggest headache: wildfire liability.

The stock is showing signs of life after a period of consolidation. While today's move is minor, the underlying factors are significant and suggest a bullish sentiment is building.

Fundamental Catalysts:

• Analyst Upgrade: On September 16, Jefferies analyst Julien Dumoulin-Smith reiterated a "Buy" rating and significantly raised the price target on PCG from $19 to $22. Wall Street taking notice and upping their targets like this is a strong bullish signal.
• Wildfire Fund Boost: On September 10, news broke that California plans to add $18 billion to the state's wildfire fund. This is huge for PG&E. A larger fund reduces the company's potential liability from future wildfires, which has been the primary risk hanging over the stock for years. This fundamentally de-risks the investment case.
• Customer Credit: PG&E announced that customers will receive a $58 California Climate Credit in October. While this directly benefits customers, it's good PR and shows alignment with state initiatives, which is always a positive for a regulated utility.

Technical Picture:

The technicals are currently neutral, suggesting the price is coiling before its next major move. It's currently caught between key long-term moving averages.

The price is trading above its 50-day moving average but still below the critical 200-day moving average, which often acts as a ceiling. Key levels to watch are the support around $14.45 and the next major resistance at $15.77. A decisive break above the 200-day MA and the subsequent resistance at $16.91 would be a very strong bullish confirmation.

Market Sentiment:

• Analyst Consensus: Sentiment from analysts is overwhelmingly positive. Out of 16 analysts, 14 have a "Buy" or "Strong Buy" rating. The mean price target is $20.74, suggesting a potential 37% upside from the current price.
• Insider Trading: It's worth noting there was a sale by a director, Mark Ferguson, in August for about $106k. While insider selling is never great to see, it's a relatively small amount and is overshadowed by the strong positive fundamental news and analyst sentiment.

So, it's not exactly "wen moon" today, but the setup is getting interesting. Keep an eye on those resistance levels on the Edgen Radar before you ape in, fren.