14 Best Affordable Stocks to Buy According to Hedge Funds

9. PG&E Corporation (NYSE:PCG)

Number of Hedge Fund Holders: 74

Share Price as of March 22: $16.88

P/E Ratio as of March 22: 14.68

PG&E Corporation (NYSE:PCG), through its subsidiary Pacific Gas and Electric Company, supplies electricity and natural gas to customers in California. It generates power from nuclear, hydro, fossil fuels, and solar energy while managing a vast network of transmission lines, substations, and pipelines. PCG ranks 9th on our list of the best affordable stocks. On February 21, the company declared a quarterly dividend of $0.025 per share. The dividend will be distributed on April 15, to shareholders on record as of March 31. PCG aims for a dividend payout of about 20% of core earnings by 2028.

PG&E Corporation (NYSE:PCG) posted Q4 2024 adjusted earnings of $0.31 per share, just shy of analyst estimates of $0.32. For the full year 2024, core earnings climbed to $1.36 per share, up from $1.23 in 2023, due to increased customer capital investment. PG&E also raised its 2025 earnings forecast to $1.48-$1.52 per share, edging past analyst expectations. On the operations side, the company marked its second straight year with no major wildfires caused by its equipment and strengthened 366 miles of its system to reduce wildfire risk. PG&E’s operating cash flow soared to $8 billion in 2024 from $4.7 billion the previous year, while cost-cutting efforts saved over $200 million for the third year in a row.

Among the hedge funds tracked by Insider Monkey, PG&E Corporation (NYSE:PCG) was part of 74 portfolios at the end of Q4 2024, compared to the prior quarter, 49 funds had invested in the stock. Dan Loeb’s Third Point was the biggest stakeholder of the company, with 48.5 million shares worth $978.7 million.