Shares of PG&E Corp fell about 7% on Monday after the power and natural gas company announced that it planned to raise $2.4 billion from investors via a stock offering.
U.S. stock futures were mixed this morning, with the Dow futures falling around 0.1% on Monday.
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PG&E remains a bargain with a trailing 12-month operating P/E of 14.6, a 23% discount to the sector, and a favorable PEG ratio. Despite wildfire risks and past bankruptcies, PG&E's valuation is compelling, with positive EPS trends and solid revenue growth projections. Technical analysis shows PG&E in an uptrend, targeting $22-$23, supported by a rising 200-day moving average and a bullish breakout.
PG&E Corporation (PCG) Q3 2024 Earnings Call Transcript
PCG's third-quarter total revenues of $5.94 billion rise 0.9% from the year-ago level. Operating revenues, however, lag the Zacks Consensus Estimate by 10.9%.
PG&E (PCG) came out with quarterly earnings of $0.37 per share, beating the Zacks Consensus Estimate of $0.32 per share. This compares to earnings of $0.24 per share a year ago.
PCG's Q3 results are likely to reflect the benefits of favorable outcomes from earlier approved general rate cases and reduced non-fuel O&M expenses efforts.
PG&E (PCG) possesses the right combination of the two key ingredients for a likely earnings beat in its upcoming report. Get prepared with the key expectations.
PG&E (PCG) has an impressive earnings surprise history and currently possesses the right combination of the two key ingredients for a likely beat in its next quarterly report.
Top Wall Street analysts changed their outlook on these top names. For a complete view of all analyst rating changes, including upgrades and downgrades, please see our analyst ratings page.
PG&E CEO Patti Poppe joins 'Squawk Box' to preview the company's investor conference in New York today, the safety measures put in place by the company, consumer energy demand, building infrastructure for extreme weather conditions, and more.