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

PG&E (NYSE:PCG) updated its FY24 earnings guidance on Thursday. The company provided earnings per share (EPS) guidance of $1.34-1.37 for the period, compared to the consensus estimate of $1.36. PG&E also updated its FY 2024 guidance to 1.340-1.370 EPS.

Analyst Ratings Changes

Several research analysts have recently issued reports on the company. Wells Fargo & Company lifted their price target on PG&E from $21.00 to $22.00 and gave the stock an “overweight” rating in a research note on Friday, July 26th. Morgan Stanley lifted 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. Jefferies Financial Group began coverage on PG&E in a report on Monday, October 14th. They issued a “buy” rating and a $24.00 price target for the company. Barclays boosted their target price on PG&E from $24.00 to $25.00 and gave the stock an “overweight” rating in a report on Monday, October 21st. Finally, Bank of America started coverage on PG&E in a report on Thursday, September 12th. They issued a “buy” rating and a $24.00 price target for the company. Two research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $22.80.

PG&E Stock Down 0.5 %

Shares of PCG traded down $0.11 during trading on Thursday, reaching $20.14. The company’s stock had a trading volume of 1,129,006 shares, compared to its average volume of 13,745,330. The company has a quick ratio of 0.86, a current ratio of 0.90 and a debt-to-equity ratio of 1.99. The company has a market cap of $52.67 billion, a price-to-earnings ratio of 17.31, a P/E/G ratio of 1.53 and a beta of 1.03. PG&E has a twelve month low of $15.94 and a twelve month high of $20.93. The company has a fifty day moving average of $19.99 and a two-hundred day moving average of $18.70.

PG&E Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, October 15th. Investors of record on Monday, September 30th were given a dividend of $0.01 per share. This represents a $0.04 annualized dividend and a dividend yield of 0.20%. The ex-dividend date of this dividend was Monday, September 30th. PG&E’s dividend payout ratio is currently 3.42%.

Insider Activity at PG&E

In other PG&E news, VP Stephanie N. Williams sold 38,601 shares of the stock in a transaction on Thursday, August 15th. The stock was sold at an average price of $18.32, for a total value of $707,170.32. Following the sale, the vice president now directly owns 19,114 shares of the company’s stock, valued at $350,168.48. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Corporate insiders own 0.15% of the company’s stock.

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.