Stock market today: S&P 500 climbs as health care, tech gain; Nvidia earnings loom
Harris Arno Lockheart, a director at PG&E Corp (NYSE:PCG), has made a significant purchase of the company’s stock, according to a recent SEC filing. On February 20, Lockheart acquired 6,389 shares of PG&E common stock at a price of $15.66 per share, amounting to a total transaction value of approximately $100,051. This acquisition was made through the Harris Living Trust, following which Lockheart’s direct and indirect ownership of PG&E shares totals 73,226.58 shares.
In other recent news, PG&E Corporation reported its fourth-quarter earnings for 2024, revealing a slight miss on earnings per share (EPS) and revenue forecasts. The company posted an EPS of $0.31, slightly below the expected $0.32, and reported revenues of $6.63 billion, falling short of the forecasted $7.19 billion. Despite these results, PG&E achieved an 11% year-over-year increase in core EPS for the full year, reaching $1.36. Looking ahead, PG&E has adjusted its 2025 EPS guidance, with a new range of $1.48 to $1.52, indicating confidence in its operational strategies. Additionally, PG&E completed a $2.75 billion equity offering in December, which supports its capital investment plans through 2028. BMO Capital Markets recently raised PG&E’s stock price target to $23, maintaining an Outperform rating, reflecting confidence in the company’s operational performance. The analyst at BMO cited PG&E’s consistent performance and updated guidance as reasons for the positive outlook. These developments come as PG&E continues to focus on expanding its data center load pipeline and implementing grid safety measures.
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