PG&E (NYSE:PCG) Announces Earnings Results

PG&E (NYSE:PCG) released its earnings results on Thursday. The utilities provider reported $0.37 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.32 by $0.05, Briefing.com reports. The firm had revenue of $5.94 billion for the quarter, compared to analysts’ expectations of $6.58 billion. PG&E had a return on equity of 11.76% and a net margin of 10.22%. The business’s revenue for the quarter was up .9% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.24 earnings per share.

PG&E Trading Up 1.2 %

PCG traded up $0.25 during trading on Friday, hitting $20.61. The company’s stock had a trading volume of 7,134,513 shares, compared to its average volume of 13,775,833. PG&E has a twelve month low of $15.94 and a twelve month high of $20.93. The company has a quick ratio of 0.86, a current ratio of 0.90 and a debt-to-equity ratio of 1.99. The stock’s fifty day moving average price is $20.01 and its 200-day moving average price is $18.71. The firm has a market capitalization of $53.90 billion, a P/E ratio of 15.96, a PEG ratio of 1.53 and a beta of 1.03.

PG&E Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, October 15th. Shareholders of record on Monday, September 30th were paid a $0.01 dividend. This represents a $0.04 annualized dividend and a yield of 0.19%. The ex-dividend date of this dividend was Monday, September 30th. PG&E’s dividend payout ratio (DPR) is presently 3.13%.

Insider Buying and Selling at PG&E

In other PG&E news, VP Stephanie N. Williams sold 38,601 shares of the business’s stock in a transaction that occurred 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 transaction, the vice president now directly owns 19,114 shares of the company’s stock, valued at approximately $350,168.48. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 0.15% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts have recently weighed in on PCG shares. UBS Group boosted their price target on PG&E from $24.00 to $26.00 and gave the stock a “buy” rating in a report on Tuesday, September 3rd. Bank of America started coverage on PG&E in a report on Thursday, September 12th. They set a “buy” rating and a $24.00 price target on the stock. Jefferies Financial Group started coverage on PG&E in a report on Monday, October 14th. They set a “buy” rating and a $24.00 price target on the stock. Morgan Stanley boosted their price target on PG&E from $19.00 to $20.00 and gave the stock an “equal weight” rating in a report on Wednesday, September 25th. Finally, Barclays boosted their price target on PG&E from $24.00 to $25.00 and gave the stock an “overweight” rating in a report on Monday, October 21st. Two equities research analysts have rated the stock with a hold rating and nine have given a buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $22.80.

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.