PG&E Corporation (PCG) has made significant strides recently. Despite lagging industry margins, the company has seen increased positions from Advisory Services Network LLC, Geo W. Hamlin & Co., among others, pointing towards a growing investor trust. PG&E has delivered strong first-quarter results for 2024, managing to stay on track to achieve solid results. The company secured a 24% reduction in gas emissions, further boosting its 'green' credentials. There have also been reinstatements of the common stock dividend and an increased earning guidance for 2024. Wells Fargo & Company MN, US Bancorp DE, and Janney Montgomery Scott LLC have all increased holdings in PG&E, suggesting further market confidence. Despite facing a revenue miss by 13%, the Corporation was able to deliver solid gains, meeting the high end of their guidance for full-year 2023. The company has taken significant steps towards decarbonization, potentially positioning it well for future growth. However, amidst all these moves, PG&E also faced rejection from California for minority sale amid KKR talks. There were strong earnings growth and raised price target from Morgan Stanley. The year also saw CEO Patricia Poppe selling $1m in company stock.
Pg e Corporation PCG News Analytics from Tue, 25 Jul 2023 07:00:00 GMT to Sun, 02 Jun 2024 11:50:11 GMT -
Rating 8
- Innovation 5
- Information 9
- Rumor -2
