Major Shareholder of PG&E Corporation Sells 60 Million Shares
January 13, 2023
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PG&E ($NYSE:PCG) Corporation (NYSE: PCG) is one of the largest energy companies in the United States, providing electricity and natural gas to millions of customers in Northern and Central California. The company is headquartered in San Francisco, California, and is publicly traded on the New York Stock Exchange. Recently, a major shareholder of the company, Apollo Global Management, an investment firm, has announced that it has sold 60 million of its shares in PG&E Corporation. This sale was part of a larger effort to reduce their stake in PG&E Corporation. The sale of the sixty million shares represented a little more than three percent of the company’s outstanding shares. This move is likely to have some effect on the company’s stock price. This could potentially be a good opportunity for investors to buy into the company at a discounted rate before the stock price recovers.
The move by Apollo Global Management comes at a time when PG&E Corporation is trying to recover from multiple legal and financial troubles. At the same time, PG&E Corporation is also struggling with many years of mismanagement and financial misconduct that has seen its share price drop significantly over the past decade. The company has also been facing increasing competition from renewable energy sources such as solar and wind power. Despite these challenges, PG&E Corporation remains one of the largest energy companies in the United States and has a strong potential for future growth. The recent sale of shares by Apollo Global Management may be a sign that they are confident in the future of the company and are looking to cash in on their investment before the share price recovers. Investors may want to take this opportunity to buy into the company before its stock price recovers.
Share Price
On Thursday, news broke that a major shareholder of PG&E Corporation had sold 60 million shares of the company. While the news initially caused some concern among investors, sentiment seemed to be mostly positive at the time of writing. PG&E Corporation stock opened at $15.8 and closed at $16.0, up by 1.3% from its prior closing price of 15.8. This indicates that investors are not overly worried about the news and are instead confident in the company’s potential. The sale of the 60 million shares was made at a time when many investors are feeling optimistic about PG&E Corporation’s future. The company has been making notable strides in recent years, such as improving its renewable energy portfolio and increasing its dividend payments to shareholders.
This has likely been taken into account by investors, who are looking past this news and focusing on the positives. It is also worth noting that, despite the sale of 60 million shares, the major shareholder in question still holds a considerable amount of shares in PG&E Corporation. This suggests that they have not lost faith in the company and believe that it still has good potential for growth. On the contrary, investors seem to be optimistic about the company’s future prospects and have reacted positively to news of the sale, pushing the stock price up by 1.3%. Live Quote…
About the Company
Income Snapshot
Below shows the total revenue, net income and net margin for Pg&e Corporation. More…
| Total Revenues | Net Income | Net Margin |
| 21.56k | 1.76k | 8.6% |
Cash Flow Snapshot
Below shows the cash from operations, investing and financing for Pg&e Corporation. More…
| Operations | Investing | Financing |
| 3.11k | -10.69k | 7.66k |
Balance Sheet Snapshot
Below shows the total assets, liabilities and book value per share for Pg&e Corporation. More…
| Total Assets | Total Liabilities | Book Value Per Share |
| 117.01k | 94.53k | 11.19 |
Key Ratios Snapshot
Some of the financial key ratios for Pg&e Corporation are shown below. More…
| 3Y Rev Growth | 3Y Operating Profit Growth | Operating Margin |
| 9.4% | 44.4% | 12.7% |
| FCF Margin | ROE | ROA |
| -30.3% | 7.8% | 1.5% |
VI Analysis
PG&E CORPORATION is a medium risk investment as shown by VI Risk Rating. VI App enables an easy analysis of the company’s fundamentals, such as financial health, profitability and liquidity. This helps to determine the long term potential of the company. Two risk warnings have been identified in the income sheet and cash flow statement which should be considered when looking at PG&E CORPORATION as an investment option. The company’s financial health is important in order to understand how well the business is performing and if it is generating enough profits to stay afloat. Profitability metrics such as profit margins and return on equity can be useful in assessing the company’s ability to make money. Similarly, liquidity metrics can be used to understand how well the company is managing its cash flows and how much cash it has available to pay its debts and other expenses. Overall, VI Risk Rating and VI App help to simplify the process of analyzing PG&E CORPORATION and can provide insights into the potential risks associated with investing in the company. Become a registered user to access more detailed assessments of the company and make informed investment decisions. More…
VI Peers
PG&E Corp is one of the largest electric and gas utility companies in the United States. The company’s competitors include Ameren Corp, Duke Energy Corp, NiSource Inc.
– Ameren Corp ($NYSE:AEE)
Ameren Corporation is a holding company for several electric and natural gas utilities serving customers in Missouri and Illinois. The company’s electric utilities serve 2.4 million customers in Missouri and Illinois. Ameren’s natural gas utilities serve 1.2 million customers in Missouri and Illinois. The company’s transmission system includes about 16,000 miles of high-voltage power lines.
– Duke Energy Corp ($NYSE:DUK)
Duke Energy Corporation is an American electric power holding company headquartered in Charlotte, North Carolina. The company was founded in 1904 as the merger of three electricity companies. Duke Energy operates in six U.S. states: North Carolina, South Carolina, Florida, Indiana, Ohio, and Kentucky.
Duke Energy is the largest electric power holding company in the United States, with assets totaling over $100 billion. The company has a market capitalization of $67.16 billion as of 2022 and a return on equity of 7.73%. Duke Energy is a diversified energy company that owns and operates a variety of electric generation and transmission assets, as well as natural gas and oil pipelines. The company also provides a variety of energy-related services to its customers.
– NiSource Inc ($NYSE:NI)
NiSource Inc is a publicly traded utility holding company based in Merrillville, Indiana, United States. It is the parent company of Northern Indiana Public Service Company (NIPSCO), Columbia Gas of Massachusetts, Columbia Gas of Ohio, Columbia Pipeline Group, and NIPSCO Industrial. The company has a market cap of 9.8B as of 2022 and a return on equity of 10.43%. NiSource Inc is a diversified energy delivery company that provides electricity, natural gas, and other energy services to customers in the United States and Canada.
Summary
Investors have been monitoring the activity of major shareholder of PG&E Corporation, who recently sold 60 million shares. Overall sentiment has been positive, as this could be seen as a sign of confidence in the company and its future prospects. PG&E Corporation is an energy-based holding company that operates primarily through its subsidiaries Pacific Gas and Electric Company and PG&E Energy Trading. It provides natural gas and electric services to millions of customers in California and generates revenue through the sale of electricity and natural gas.
The company has a strong balance sheet, with profitability and liquidity ratios that exceed industry averages. Investors may want to consider investing in PG&E Corporation given its strong financial position and its potential growth prospects.
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