PG&E (NYSE:PCG) Updates FY 2024 Earnings Guidance

PG&E (NYSE:PCG) updated its FY 2024 earnings guidance on Thursday. The company provided earnings per share guidance of 1.340-1.370 for the period, compared to the consensus earnings per share estimate of 1.360. The company issued revenue guidance of -. PG&E also updated its FY 2025 guidance to 1.470-1.510 EPS.

PG&E Price Performance

NYSE PCG opened at $20.26 on Thursday. PG&E has a 1 year low of $15.94 and a 1 year high of $20.93. The company has a fifty day simple moving average of $19.99 and a 200 day simple moving average of $18.70. The company has a current ratio of 0.90, a quick ratio of 0.86 and a debt-to-equity ratio of 1.99. The company has a market cap of $52.97 billion, a P/E ratio of 17.31, a P/E/G ratio of 1.53 and a beta of 1.03.

PG&E Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Tuesday, October 15th. Investors of record on Monday, September 30th were paid a dividend of $0.01 per share. This represents a $0.04 annualized dividend and a yield of 0.20%. The ex-dividend date was Monday, September 30th. PG&E’s payout ratio is currently 3.42%.

Analysts Set New Price Targets

Several brokerages have issued reports on PCG. Wells Fargo & Company boosted 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. UBS Group upped their price objective on shares of PG&E from $24.00 to $26.00 and gave the stock a “buy” rating in a research note on Tuesday, September 3rd. Bank of America assumed coverage on shares of PG&E in a research report on Thursday, September 12th. They set a “buy” rating and a $24.00 price target on the stock. Jefferies Financial Group assumed coverage on PG&E in a research note on Monday, October 14th. They issued a “buy” rating and a $24.00 target price for the company. Finally, Morgan Stanley increased their price objective on shares of PG&E from $19.00 to $20.00 and gave the company an “equal weight” rating in a report on Wednesday, September 25th. Two investment analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $22.80.

Insider Transactions at PG&E

In other PG&E news, VP Stephanie N. Williams sold 38,601 shares of the stock in a transaction on Thursday, August 15th. The shares were 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. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Company insiders own 0.15% of the company’s stock.

About PG&E

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.