PG&E (NYSE:PCG) Issues Quarterly Earnings Results, Meets Estimates

PG&E (NYSE:PCG) issued its quarterly earnings data on Thursday. The utilities provider reported $0.31 earnings per share for the quarter, meeting the consensus estimate of $0.31, RTT News reports. The firm had revenue of $6.63 billion for the quarter, compared to analyst estimates of $7.29 billion. PG&E had a net margin of 11.11% and a return on equity of 12.51%. During the same quarter last year, the firm earned $0.47 earnings per share.

PG&E Stock Performance

PCG stock traded down $0.56 on Friday, reaching $15.30. 28,221,341 shares of the company were exchanged, compared to its average volume of 32,168,314. PG&E has a 12 month low of $14.99 and a 12 month high of $21.72. The stock’s fifty day moving average price is $17.93 and its 200 day moving average price is $19.19. The firm has a market capitalization of $40.00 billion, a PE ratio of 11.95, a PEG ratio of 1.09 and a beta of 0.99. The company has a debt-to-equity ratio of 2.02, a current ratio of 1.04 and a quick ratio of 0.99.

Insider Buying and Selling

In other news, CEO Patricia K. Poppe sold 55,555 shares of PG&E stock in a transaction dated Monday, December 2nd. The shares were sold at an average price of $20.66, for a total transaction of $1,147,766.30. Following the sale, the chief executive officer now directly owns 1,460,222 shares in the company, valued at approximately $30,168,186.52. The trade was a 3.67 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 0.15% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

PCG has been the topic of several recent research reports. Morgan Stanley lowered shares of PG&E from an “equal weight” rating to an “underweight” rating and cut their price objective for the company from $20.00 to $16.50 in a research report on Friday. BMO Capital Markets initiated coverage on shares of PG&E in a research report on Monday, January 13th. They set an “outperform” rating and a $21.00 price objective on the stock. UBS Group cut their price objective on shares of PG&E from $24.00 to $22.00 and set a “buy” rating on the stock in a research report on Thursday, January 30th. Barclays cut their price objective on shares of PG&E from $24.00 to $23.00 and set an “overweight” rating on the stock in a research report on Monday, January 27th. Finally, Mizuho raised their price objective on shares of PG&E from $24.00 to $26.00 and gave the company an “outperform” rating in a research report on Wednesday, November 27th. One investment analyst has rated the stock with a sell rating and ten have issued a buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $22.05.

About PG&E

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.