PG&E (NYSE:PCG) Announces Quarterly Earnings Results

PG&E (NYSE:PCG) released its quarterly 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 company had revenue of $5.94 billion during the quarter, compared to analysts’ expectations of $6.58 billion. During the same quarter in the prior year, the company earned $0.24 earnings per share. The business’s quarterly revenue was up .9% compared to the same quarter last year.

PG&E Price Performance

Shares of PCG traded up $0.24 during mid-day trading on Friday, reaching $20.60. The company had a trading volume of 15,092,503 shares, compared to its average volume of 13,812,506. The company has a market capitalization of $53.87 billion, a price-to-earnings ratio of 15.96, a P/E/G ratio of 1.53 and a beta of 1.03. The company has a debt-to-equity ratio of 1.99, a quick ratio of 0.86 and a current ratio of 0.90. The company’s 50 day simple moving average is $20.01 and its 200 day simple moving average is $18.71. PG&E has a 1-year low of $15.94 and a 1-year high of $20.93.

PG&E Dividend Announcement

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

Analysts Set New Price Targets

PCG has been the subject of a number of recent research reports. Bank of America assumed coverage on shares of PG&E in a research note on Thursday, September 12th. They set a “buy” rating and a $24.00 price objective for the company. Jefferies Financial Group started coverage on shares of PG&E in a research note on Monday, October 14th. They issued a “buy” rating and a $24.00 target price for the company. Wells Fargo & Company upped their price objective on shares of PG&E from $21.00 to $22.00 and gave the company an “overweight” rating in a report on Friday, July 26th. UBS Group lifted 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. Finally, Barclays raised their price objective on shares of PG&E from $24.00 to $25.00 and gave the stock an “overweight” rating in a research report on Monday, October 21st. Two equities research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $22.80.

Insider Transactions at PG&E

In related news, VP Stephanie N. Williams sold 38,601 shares of PG&E stock in a transaction that occurred 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 transaction, the vice president now directly 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 legal filing with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 0.15% of the company’s stock.

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.