Billionaire Dan Loeb’s Top Stock Picks

Page 15 of 15

1. PG&E Corporation (NYSE:PCG)

Number of Hedge Fund Holders: 49

Third Point’s Stake: $983.6 million

PG&E Corporation (NYSE:PCG) is a California-based company that deals in electricity and natural gas. The following attributes highlight why this company presents a compelling case for investment. To begin with, the report for the third quarter of 2024 shows a positive picture of the company’s finances. For instance, reported GAAP earnings were $0.27 per share for the third quarter of 2024, compared to earnings of $0.16 for the same period in 2023. This increase reflects strong operational performance and reassures investors about the company’s potential for sustainable returns. Moreover, the company has added $1 billion to the 2024-2028 capital plan in response to growing customer demand. Secondly, the retail customers of the company have received 100% greenhouse gas-free electricity, making the company’s portfolio of electricity sources one of the world’s cleanest. Also, PG&E has brought online more than 2,100 megawatts of new battery storage capacity to help integrate renewable energy sources and enhance reliability.

While we acknowledge the potential of PG&E Corporation (NYSE:PCG) as an investment, our conviction lies in the belief that some stocks hold greater promise for delivering higher returns, and doing so within a shorter timeframe. If you are looking for a stock that is more promising than PG&E Corporation (NYSE:PCG) but that trades at less than 5 times its earnings, check out our report about the cheapest AI stock.

READ NEXT: 20 Best AI Stocks To Buy Now and Complete List of 59 AI Companies Under $2 Billion in Market Cap

Disclosure: None. Insider Monkey focuses on uncovering the best investment ideas of hedge funds and insiders. Please subscribe to our free daily e-newsletter to get the latest investment ideas from hedge funds’ investor letters by entering your email address below.

Page 15 of 15