PG&E (NYSE:PCG) Posts Quarterly Earnings Results, Beats Estimates By $0.05 EPS

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

PG&E Stock Performance

Shares of PCG traded up $0.25 during midday trading on Friday, reaching $20.61. 7,134,513 shares of the stock were exchanged, compared to its average volume of 13,775,833. The company has a market cap of $53.90 billion, a P/E ratio of 15.96, a PEG ratio of 1.53 and a beta of 1.03. The stock’s 50 day simple moving average is $20.01 and its 200 day simple moving average is $18.71. 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.

PG&E Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, October 15th. Stockholders of record on Monday, September 30th were issued a dividend of $0.01 per share. This represents a $0.04 dividend on an annualized basis and a dividend yield of 0.19%. The ex-dividend date was Monday, September 30th. PG&E’s dividend payout ratio is currently 3.13%.

Analyst Ratings Changes

Several equities analysts recently weighed in on PCG shares. Barclays raised their target price on shares of PG&E from $24.00 to $25.00 and gave the company an “overweight” rating in a research note on Monday, October 21st. 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 for the company. UBS Group raised their price target on PG&E from $24.00 to $26.00 and gave the company a “buy” rating in a report on Tuesday, September 3rd. Morgan Stanley raised their price target on PG&E from $19.00 to $20.00 and gave the company an “equal weight” rating in a report on Wednesday, September 25th. Finally, Wells Fargo & Company raised their price target on PG&E from $21.00 to $22.00 and gave the company an “overweight” rating in a report on Friday, July 26th. Two investment analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $22.80.

Insider Activity at PG&E

In related news, VP Stephanie N. Williams sold 38,601 shares of the business’s stock in a transaction dated Thursday, August 15th. The stock was sold at an average price of $18.32, for a total value of $707,170.32. Following the completion of the transaction, the vice president now owns 19,114 shares of the company’s stock, valued at $350,168.48. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 0.15% of the stock is owned by insiders.

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.