This morning we watched PG&E rise 1.3% to a price of $19.04 per share. The Large-Cap Utilities—Independent Power Producers company is now trading -11.85% below its average target price of $21.6. Analysts have set target prices ranging from $18.0 to $24.0 per share for PG&E, and have given the stock an average rating of buy.
The stock has a very low short interest at 1.4%, and a short ratio of 2.78. The company's insiders own 2.73% of its outstanding shares, which indicates a strong alignment between management and shareholder interests. Finally, we also note that an average number of institutional investors are invested in the stock, with 78.0% of PG&E's shares being owned by this investor type.
Institutions Invested in PG&E
| Date Reported | Holder | Percentage | Shares | Value |
|---|---|---|---|---|
| 2024-06-30 | Vanguard Group Inc | 11% | 283,644,220 | $5,400,586,208 |
| 2024-06-30 | Blackrock Inc. | 7% | 176,400,732 | $3,358,670,098 |
| 2024-06-30 | FMR, LLC | 6% | 168,235,030 | $3,203,195,125 |
| 2024-06-30 | JP Morgan Chase & Company | 5% | 129,794,575 | $2,471,288,826 |
| 2024-06-30 | Capital International Investors | 5% | 125,643,438 | $2,392,251,174 |
| 2024-06-30 | State Street Corporation | 4% | 103,762,345 | $1,975,635,143 |
| 2024-06-30 | Massachusetts Financial Services Co. | 4% | 101,910,190 | $1,940,370,110 |
| 2024-06-30 | Third Point, LLC | 2% | 53,750,000 | $1,023,400,049 |
| 2024-06-30 | Geode Capital Management, LLC | 2% | 49,300,145 | $938,674,805 |
| 2024-06-30 | Blackstone Inc | 2% | 40,629,871 | $773,592,781 |
Besides an analyst consensus of some upside potential, other market factors point to there being positive market sentiment on PG&E.
