PG&E Contributes $1 Million to Support California Food Banks Amid Rising Demand
Written by Emily J. Thompson, Senior Investment Analyst
Updated: 1h ago
0mins
Source: PRnewswire
- Community Support Enhancement: PG&E's $1 million donation to local food banks, just in time for the holidays, is expected to provide approximately 3 million meals, significantly alleviating the rising food demand faced by families, especially post-pandemic.
- Ongoing Contributions: This marks PG&E's third contribution to food banks since September, bringing the total for the year to $2.37 million, demonstrating the company's ongoing commitment to community responsibility amid increasing economic pressures.
- Surge in Demand Response: California food banks are experiencing record-breaking demand, particularly following the federal government shutdown, and PG&E's donation will assist millions of families during the holiday season, ensuring access to essential food supplies.
- Equitable Distribution Mechanism: PG&E's funding will be allocated based on county poverty and unemployment levels, promoting equitable resource distribution in areas with higher needs, reflecting the company's emphasis on social responsibility.
Analyst Views on PCG
Wall Street analysts forecast PCG stock price to rise over the next 12 months. According to Wall Street analysts, the average 1-year price target for PCG is 21.45 USD with a low forecast of 18.00 USD and a high forecast of 25.00 USD. However, analyst price targets are subjective and often lag stock prices, so investors should focus on the objective reasons behind analyst rating changes, which better reflect the company's fundamentals.
11 Analyst Rating
9 Buy
2 Hold
0 Sell
Strong Buy
Current: 16.080
Low
18.00
Averages
21.45
High
25.00
Current: 16.080
Low
18.00
Averages
21.45
High
25.00
About PCG
PG&E Corporation is a holding company. The Company's primary operating subsidiary is Pacific Gas and Electric Company (the Utility), a public utility operating in Northern and Central California. The Utility is engaged in the sale and delivery of electricity and natural gas to customers. The Utility generates electricity and provides electric transmission and distribution services throughout its service area in northern and central California to residential, commercial, industrial, and agricultural customers. The Utility provides electricity, transmission, and distribution services in its service area. The Utility owns approximately 18,000 circuit miles of interconnected transmission lines operating at voltages ranging from 60 kilovolts (kV) to 500 kV. The Utility also operates 33 electric transmission substations with a capacity of approximately 67,000 megavolt amperes (MVA). Customers can also obtain electricity from alternative providers such as municipalities (CCAs).
About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
