PG&E’s Review Following Recent Fire Victim Trust’s 35 Million Share Sales
<p>RBC Capital analysts raised their price target on <a href='https://financialmodelingprep.com/financial-summary/PCG'>PG&E Corporation (NYSE:PCG)</a> to $19 from $16, while maintaining their Outperform rating. The analysts continue to be encouraged by the company’s wildfire mitigation efforts and series of recent catalysts, including the introduction to the S&P 500.</p>
<p>According to the analysts, investors are becoming more comfortable with the Fire Victim Trust sales (Earlier this week the Fire Victim Trust sold 35 million of its PCG shares, which follows two other blocks from January and April and brings the total amount sold to 135 million) as the most recent block of 35 million shares saw a more muted reaction from the market.</p>
<p>While payments from the Fire Victim Trust have remained between $250 million and $350 million every month since earlier this year, the analysts believe it is possible to see a meaningful ramp in claims payments as the administrator has been vocal about wanting to accelerate the payout process. It seems the Fund is taking a more conservative approach to payouts, which the analysts believe provides more flexibility in terms of timing for selling the remaining shares.</p>

NYSE:PCG