PG&E (NYSE:PCG) Announces Earnings Results

PG&E (NYSE:PCG) posted its earnings results on Thursday. The utilities provider reported $1.03 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.68 by $0.35, MarketWatch Earnings reports. The company had revenue of $4.53 billion during the quarter. PG&E had a positive return on equity of 30.85% and a negative net margin of 37.92%. PG&E updated its FY 2021
Pre-Market guidance to 0.95-1.05 EPS and its FY 2020
Pre-Market guidance to 1.60-1.63 EPS.

Shares of PCG traded up $0.07 during midday trading on Friday, hitting $9.35. 28,842,917 shares of the company traded hands, compared to its average volume of 23,448,024. PG&E has a one year low of $3.55 and a one year high of $19.18. The company has a debt-to-equity ratio of 0.29, a current ratio of 1.28 and a quick ratio of 1.20. The stock has a 50-day moving average of $9.58 and a 200-day moving average of $11.75. The firm has a market cap of $18.15 billion, a P/E ratio of -0.72, a PEG ratio of 2.31 and a beta of 1.10.

Several research firms have issued reports on PCG. Barclays boosted their target price on PG&E from $15.00 to $16.00 in a research report on Wednesday, June 10th. Seaport Global Securities began coverage on PG&E in a research note on Tuesday, June 23rd. They set a “neutral” rating for the company. Morgan Stanley raised their target price on shares of PG&E from $11.00 to $12.00 and gave the stock an “equal weight” rating in a report on Friday, July 17th. Bank of America began coverage on shares of PG&E in a research note on Friday, June 5th. They set a “buy” rating and a $14.00 price objective on the stock. Finally, UBS Group raised shares of PG&E from a “neutral” rating to a “buy” rating and raised their price objective for the stock from $14.00 to $15.00 in a research note on Monday, May 4th. Two analysts have rated the stock with a sell rating, six have issued a hold rating and seven have assigned a buy rating to the company. The company has an average rating of “Hold” and an average target price of $14.38.

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 residential, commercial, industrial, and agricultural customers in northern and central California, the United States. The company's electricity distribution network consists of approximately 107,000 circuit miles of distribution lines, 50 transmission switching substations, and 769 distribution substations; and electricity transmission network comprises approximately 18,000 circuit miles of interconnected transmission lines and 84 electric transmission substations.

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Earnings History for PG&E (NYSE:PCG)

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