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PG&E Corporation focuses on power generation and distribution, accounting for 71.3% of its net sales, with 72,933 GWh distributed to over 5.6 million customers by the end of 2023. Additionally, it handles natural gas transportation and distribution, representing 28.7% of sales, serving over 4.6 million customers with 6.8 billion cubic meters distributed. UBS has reiterated a positive rating on the stock.
PG&E Corporation focuses on electricity generation and distribution, accounting for 71.3% of its operations, with 72,933 GWh distributed to over 5.6 million customers by the end of 2023. Additionally, it handles natural gas transmission and distribution, representing 28.7% of its activities, serving over 4.6 million customers with 6.8 billion m³ distributed.
State Street Corp now holds 108,953,808 shares of PG&E, valued at $2.15 billion, after acquiring over 5 million additional shares. Analysts have mixed ratings on PG&E, with UBS lowering its price target to $24, while the stock currently trades at $19.35, reflecting a "Moderate Buy" consensus. CEO Patricia K. Poppe recently sold 55,555 shares, reducing her stake by 3.67%.
State Street Corp increased its stake in PG&E to over 108 million shares, valued at $2.15 billion, while other institutional investors also raised their holdings significantly. PG&E's stock has a "Moderate Buy" rating, with a consensus target price of $22.80, despite recent price target adjustments by various analysts. The company reported earnings of $0.37 per share, exceeding expectations, but revenue fell short of forecasts.
Venture Global LNG Inc. is set to launch one of the largest IPOs of the year, potentially raising over $3 billion, as it aims to join the ranks of top US energy firms like Occidental Petroleum and PG&E. Analysts from JPMorgan Chase & Co. estimate the company's enterprise value exceeds $100 billion, factoring in debt.
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