PG&E Co. (NYSE:PCG) Plans Quarterly Dividend of $0.03

PG&E Co. (NYSE:PCG) announced a quarterly dividend on Friday, February 21st, RTT News reports. Investors of record on Monday, March 31st will be given a dividend of 0.025 per share by the utilities provider on Tuesday, April 15th. This represents a $0.10 annualized dividend and a dividend yield of 0.63%.

PG&E has a payout ratio of 6.1% meaning its dividend is sufficiently covered by earnings. Research analysts expect PG&E to earn $1.63 per share next year, which means the company should continue to be able to cover its $0.10 annual dividend with an expected future payout ratio of 6.1%.

PG&E Stock Performance

Shares of PCG opened at $15.94 on Friday. The company has a market capitalization of $42.57 billion, a PE ratio of 13.86, a price-to-earnings-growth ratio of 1.09 and a beta of 0.99. The company has a debt-to-equity ratio of 1.86, a current ratio of 1.05 and a quick ratio of 1.00. PG&E has a one year low of $14.99 and a one year high of $21.72. The company’s fifty day moving average price is $17.50 and its 200 day moving average price is $19.10.

PG&E (NYSE:PCG) last posted its quarterly earnings data on Thursday, February 13th. The utilities provider reported $0.31 EPS for the quarter, hitting analysts’ consensus estimates of $0.31. The business had revenue of $6.63 billion for the quarter, compared to analyst estimates of $7.29 billion. PG&E had a return on equity of 10.94% and a net margin of 10.27%. During the same period in the previous year, the company posted $0.47 earnings per share. As a group, analysts expect that PG&E will post 1.49 earnings per share for the current year.

Analyst Upgrades and Downgrades

PCG has been the topic of several research analyst reports. Mizuho raised their price objective on shares of PG&E from $24.00 to $26.00 and gave the stock an “outperform” rating in a research note on Wednesday, November 27th. JPMorgan Chase & Co. restated an “overweight” rating and issued a $22.00 price target on shares of PG&E in a research report on Wednesday, February 12th. Guggenheim lowered shares of PG&E from a “buy” rating to a “neutral” rating in a research report on Tuesday. BMO Capital Markets increased their target price on shares of PG&E from $21.00 to $23.00 and gave the company an “outperform” rating in a research note on Tuesday. Finally, Barclays decreased their target price on PG&E from $24.00 to $23.00 and set an “overweight” rating on the stock in a research report on Monday, January 27th. One analyst has rated the stock with a sell rating, one has assigned a hold rating and ten have issued a buy rating to the stock. According to data from MarketBeat.com, PG&E has an average rating of “Moderate Buy” and an average price target of $22.23.

Insider Transactions at PG&E

In other PG&E news, CEO Patricia K. Poppe sold 55,555 shares of PG&E stock in a transaction on Monday, December 2nd. The stock was sold at an average price of $20.66, for a total value of $1,147,766.30. Following the completion of the transaction, the chief executive officer now owns 1,460,222 shares in the company, valued at approximately $30,168,186.52. The trade was a 3.67 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Arno Lockheart Harris bought 6,389 shares of the firm’s stock in a transaction dated Thursday, February 20th. The shares were acquired at an average price of $15.66 per share, for a total transaction of $100,051.74. Following the acquisition, the director now directly owns 14,864 shares of the company’s stock, valued at approximately $232,770.24. The trade was a 75.39 % increase in their position. The disclosure for this purchase can be found here. 0.15% of the stock is owned by insiders.

About PG&E

PG&E Corp. operates as a holding company, which engages in generation, transmission, and distribution of electricity and natural gas to customers. It specializes in energy, utility, power, gas, electricity, solar and sustainability. The company was founded in 1995 and is headquartered in Oakland, CA.