PG&E Co. (NYSE:PCG – Get Free Report) announced a quarterly dividend on Thursday, September 19th, NASDAQ reports. Investors of record on Monday, September 30th will be given a dividend of 0.01 per share by the utilities provider on Tuesday, October 15th. This represents a $0.04 dividend on an annualized basis and a dividend yield of 0.20%. The ex-dividend date is Monday, September 30th.
PG&E has a payout ratio of 2.7% indicating that its dividend is sufficiently covered by earnings. Equities research analysts expect PG&E to earn $1.47 per share next year, which means the company should continue to be able to cover its $0.04 annual dividend with an expected future payout ratio of 2.7%.
PG&E Trading Up 0.3 %
PG&E stock opened at $19.82 on Friday. The firm has a 50-day moving average price of $19.03 and a two-hundred day moving average price of $17.98. PG&E has a 52-week low of $14.71 and a 52-week high of $20.65. The firm has a market capitalization of $51.83 billion, a price-to-earnings ratio of 17.70, a PEG ratio of 1.52 and a beta of 1.01. The company has a quick ratio of 0.86, a current ratio of 0.90 and a debt-to-equity ratio of 1.99.
Insiders Place Their Bets
In other news, VP Stephanie N. Williams sold 38,601 shares of the stock in a transaction on Thursday, August 15th. The stock was sold at an average price of $18.32, for a total value of $707,170.32. Following the completion of the sale, the vice president now owns 19,114 shares in the company, valued at $350,168.48. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Corporate insiders own 0.15% of the company’s stock.
Wall Street Analysts Forecast Growth
A number of research firms recently commented on PCG. UBS Group raised their price objective on shares of PG&E from $24.00 to $26.00 and gave the company a “buy” rating in a research note on Tuesday, September 3rd. Bank of America began coverage on PG&E in a research report on Thursday, September 12th. They set a “buy” rating and a $24.00 price target on the stock. Barclays upped their price objective on PG&E from $22.00 to $23.00 and gave the company an “overweight” rating in a report on Tuesday, July 30th. Morgan Stanley lifted their target price on PG&E from $19.00 to $20.00 and gave the stock an “equal weight” rating in a report on Wednesday. Finally, Wells Fargo & Company upped their price target on shares of PG&E from $21.00 to $22.00 and gave the company an “overweight” rating in a report on Friday, July 26th. Three analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $21.55.
Check Out Our Latest Report on PG&E
PG&E Company Profile
PG&E Corporation, through its subsidiary, Pacific Gas and Electric Company, engages in the sale and delivery of electricity and natural gas to customers in northern and central California, the United States. It generates electricity using nuclear, hydroelectric, fossil fuel-fired, fuel cell, and photovoltaic sources.
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