PG&E Co. (PCG) to Issue Quarterly Dividend of $0.03 on April 15th

PG&E Co. (NYSE:PCG) announced a quarterly dividend on Thursday, February 20th, RTT News reports. Investors of record on Monday, March 31st will be given a dividend of 0.025 per share by the utilities provider on Tuesday, April 15th. This represents a $0.10 annualized dividend and a dividend yield of 0.59%. The ex-dividend date of this dividend is Monday, March 31st.

PG&E has a dividend payout ratio of 6.1% meaning its dividend is sufficiently covered by earnings. Analysts expect PG&E to earn $1.63 per share next year, which means the company should continue to be able to cover its $0.10 annual dividend with an expected future payout ratio of 6.1%.

PG&E Price Performance

PG&E stock opened at $16.98 on Friday. The company has a market capitalization of $45.35 billion, a PE ratio of 14.76, a P/E/G ratio of 1.09 and a beta of 1.04. The company has a current ratio of 1.05, a quick ratio of 1.00 and a debt-to-equity ratio of 1.86. The stock has a 50-day moving average price of $16.21 and a two-hundred day moving average price of $18.68. PG&E has a 12 month low of $14.99 and a 12 month high of $21.72.

PG&E (NYSE:PCG) last posted its earnings results on Thursday, February 13th. The utilities provider reported $0.31 EPS for the quarter, hitting the consensus estimate of $0.31. PG&E had a net margin of 10.27% and a return on equity of 10.94%. The business had revenue of $6.63 billion for the quarter, compared to the consensus estimate of $7.29 billion. During the same period last year, the company earned $0.47 EPS. Analysts expect that PG&E will post 1.49 EPS for the current year.

Insider Activity

In other PG&E news, EVP Carla J. Peterman sold 32,521 shares of the business’s stock in a transaction on Tuesday, March 4th. The shares were sold at an average price of $16.37, for a total transaction of $532,368.77. Following the completion of the sale, the executive vice president now owns 183,635 shares in the company, valued at approximately $3,006,104.95. The trade was a 15.05 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Arno Lockheart Harris acquired 6,389 shares of the stock in a transaction on Thursday, February 20th. The shares were acquired at an average price of $15.66 per share, for a total transaction of $100,051.74. Following the acquisition, the director now owns 14,864 shares of the company’s stock, valued at approximately $232,770.24. The trade was a 75.39 % increase in their position. The disclosure for this purchase can be found here. Company insiders own 0.15% of the company’s stock.

Wall Street Analyst Weigh In

PCG has been the subject of a number of recent research reports. JPMorgan Chase & Co. restated an “overweight” rating and issued a $22.00 price objective on shares of PG&E in a report on Wednesday, February 12th. Barclays lowered their price objective on PG&E from $24.00 to $23.00 and set an “overweight” rating for the company in a research report on Monday, January 27th. UBS Group cut PG&E from a “buy” rating to a “neutral” rating and reduced their target price for the company from $22.00 to $19.00 in a report on Wednesday, March 19th. BMO Capital Markets raised their price target on shares of PG&E from $21.00 to $23.00 and gave the stock an “outperform” rating in a report on Tuesday, February 18th. Finally, Morgan Stanley boosted their price target on shares of PG&E from $16.50 to $17.50 and gave the stock an “underweight” rating in a research report on Thursday, March 20th. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and nine have assigned a buy rating to the stock. According to data from MarketBeat, PG&E has a consensus rating of “Moderate Buy” and a consensus price target of $22.05.

PG&E Company Profile

PG&E Corp. operates as a holding company, which engages in generation, transmission, and distribution of electricity and natural gas to customers. It specializes in energy, utility, power, gas, electricity, solar and sustainability. The company was founded in 1995 and is headquartered in Oakland, CA.