Fintel reports that on August 7, 2023, UBS upgraded their outlook for PG&E (NYSE:PCG) from Neutral to Buy .

Analyst Price Forecast Suggests 16.15% Upside

As of August 2, 2023, the average one-year price target for PG&E is 19.84. The forecasts range from a low of 15.15 to a high of $22.05. The average price target represents an increase of 16.15% from its latest reported closing price of 17.08.

See our leaderboard of companies with the largest price target upside.

The projected annual revenue for PG&E is 23,495MM, an increase of 5.53%. The projected annual non-GAAP EPS is 1.23.

What is the Fund Sentiment?

There are 1268 funds or institutions reporting positions in PG&E. This is an increase of 55 owner(s) or 4.53% in the last quarter. Average portfolio weight of all funds dedicated to PCG is 0.49%, a decrease of 4.47%. Total shares owned by institutions decreased in the last three months by 0.66% to 2,237,554K shares. The put/call ratio of PCG is 0.92, indicating a bullish outlook.

What are Other Shareholders Doing?

Capital Research Global Investors holds 148,712K shares representing 7.11% ownership of the company. In it's prior filing, the firm reported owning 200,023K shares, representing a decrease of 34.50%. The firm decreased its portfolio allocation in PCG by 30.18% over the last quarter.

Capital International Investors holds 91,565K shares representing 4.38% ownership of the company. In it's prior filing, the firm reported owning 85,652K shares, representing an increase of 6.46%. The firm increased its portfolio allocation in PCG by 1.88% over the last quarter.

VTSMX - Vanguard Total Stock Market Index Fund Investor Shares holds 68,655K shares representing 3.28% ownership of the company. In it's prior filing, the firm reported owning 63,709K shares, representing an increase of 7.20%. The firm decreased its portfolio allocation in PCG by 1.04% over the last quarter.

AIVSX - INVESTMENT CO OF AMERICA holds 64,560K shares representing 3.09% ownership of the company. In it's prior filing, the firm reported owning 91,362K shares, representing a decrease of 41.51%. The firm decreased its portfolio allocation in PCG by 33.14% over the last quarter.

Jpmorgan Chase holds 62,502K shares representing 2.99% ownership of the company. In it's prior filing, the firm reported owning 43,324K shares, representing an increase of 30.68%. The firm increased its portfolio allocation in PCG by 32.58% over the last quarter.

PG&E Background Information
(This description is provided by the company.)

Pacific Gas and Electric Company, a subsidiary of PG&E Corporation (NYSE:PCG), is one of the largest combined natural gas and electric energy companies in the United States. Based in San Francisco, with more than 23,000 employees, the company delivers some of the nation's cleanest energy to 16 million people in Northern and Central California.

Additional reading:

• Press release dated July 27, 2023
• Slide presentation dated July 27, 2023
• Amendment No. 2 to Term Loan Credit Agreement, dated as of June 21, 2023, between PG&E Corporation and JP Morgan Chase Bank, N.A., as administrative agent and designated agent
• Amendment No. 9 to Receivables Financing Agreement, dated as of June 9, 2023, among PG&E AR Facility, LLC, as borrower, Pacific Gas and Electric Company, in its capacity as initial servicer, the financial institutions from time to time party thereto and listed therein as lenders and MUFG Bank, Ltd., as administrative agent
• First Amendment to Office Lease, dated as of June 14, 2023, by and between Pacific Gas and Electric Company and BA2 300 Lakeside LLC (redacted)