PG&E (NYSE:PCG) Issues FY24 Earnings Guidance

PG&E (NYSE:PCG) issued an update on its FY24 earnings guidance on Monday morning. The company provided earnings per share guidance of $1.34-1.37 for the period, compared to the consensus earnings per share estimate of $1.36. PG&E also updated its FY25 guidance to $1.47-1.51 EPS.

Wall Street Analysts Forecast Growth

A number of analysts have commented on the company. Barclays upped their price target on PG&E from $24.00 to $25.00 and gave the stock an “overweight” rating in a research report on Monday, October 21st. Morgan Stanley raised their target price on shares of PG&E from $19.00 to $20.00 and gave the stock an “equal weight” rating in a research note on Wednesday, September 25th. Mizuho upped their price target on shares of PG&E from $24.00 to $26.00 and gave the stock an “outperform” rating in a research report on Wednesday, November 27th. Jefferies Financial Group began coverage on shares of PG&E in a research report on Monday, October 14th. They set a “buy” rating and a $24.00 price objective on the stock. Finally, UBS Group upped their target price on shares of PG&E from $24.00 to $26.00 and gave the stock a “buy” rating in a report on Tuesday, September 3rd. Two equities research analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $23.10.

PG&E Price Performance

Shares of PG&E stock opened at $21.63 on Monday. The company has a current ratio of 1.04, a quick ratio of 0.99 and a debt-to-equity ratio of 2.02. PG&E has a 12 month low of $15.94 and a 12 month high of $21.72. The stock has a 50 day moving average of $20.44 and a 200 day moving average of $19.14. The firm has a market cap of $56.57 billion, a PE ratio of 16.90, a PEG ratio of 1.66 and a beta of 1.03.

PG&E (NYSE:PCG) last posted its earnings results on Thursday, November 7th. The utilities provider reported $0.37 EPS for the quarter, beating analysts’ consensus estimates of $0.32 by $0.05. PG&E had a return on equity of 12.51% and a net margin of 11.11%. The firm had revenue of $5.94 billion during the quarter, compared to the consensus estimate of $6.58 billion. During the same period in the prior year, the company earned $0.24 EPS. The company’s quarterly revenue was up .9% compared to the same quarter last year. On average, research analysts expect that PG&E will post 1.36 EPS for the current fiscal year.

PG&E Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, October 15th. Stockholders of record on Monday, September 30th were issued a $0.01 dividend. The ex-dividend date of this dividend was Monday, September 30th. This represents a $0.04 dividend on an annualized basis and a dividend yield of 0.18%. PG&E’s dividend payout ratio (DPR) is presently 3.13%.

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 customers in northern and central California, the United States. It generates electricity using nuclear, hydroelectric, fossil fuel-fired, fuel cell, and photovoltaic sources.