PG&E Co. (PCG) to Issue Quarterly Dividend of $0.01 on July 15th

PG&E Co. (NYSE:PCGGet Free Report) announced a quarterly dividend on Friday, May 17th, RTT News reports. Investors of record on Friday, June 28th will be paid a dividend of 0.01 per share by the utilities provider on Monday, July 15th. This represents a $0.04 annualized dividend and a yield of 0.22%.

PG&E has a dividend payout ratio of 2.7% meaning its dividend is sufficiently covered by earnings. Equities analysts expect PG&E to earn $1.47 per share next year, which means the company should continue to be able to cover its $0.04 annual dividend with an expected future payout ratio of 2.7%.

PG&E Trading Up 0.8 %

NYSE PCG opened at $18.60 on Friday. PG&E has a 52 week low of $14.71 and a 52 week high of $18.62. The firm has a 50 day moving average of $16.94 and a two-hundred day moving average of $17.07. The company has a quick ratio of 0.93, a current ratio of 0.99 and a debt-to-equity ratio of 2.08. The stock has a market capitalization of $53.55 billion, a PE ratio of 16.61 and a beta of 1.26.

PG&E (NYSE:PCGGet Free Report) last issued its earnings results on Thursday, April 25th. The utilities provider reported $0.37 EPS for the quarter, topping analysts’ consensus estimates of $0.35 by $0.02. PG&E had a net margin of 10.05% and a return on equity of 11.32%. The firm had revenue of $5.86 billion during the quarter, compared to the consensus estimate of $6.60 billion. During the same quarter in the previous year, the firm posted $0.29 earnings per share. The company’s revenue was down 5.6% compared to the same quarter last year. As a group, research analysts expect that PG&E will post 1.35 EPS for the current fiscal year.

Insider Activity at PG&E

In related news, CEO Patricia K. Poppe sold 59,000 shares of the firm’s stock in a transaction dated Tuesday, April 30th. The stock was sold at an average price of $17.08, for a total transaction of $1,007,720.00. Following the transaction, the chief executive officer now owns 1,515,777 shares of the company’s stock, valued at $25,889,471.16. The transaction was disclosed in a filing with the SEC, which is accessible through this link. 0.15% of the stock is owned by insiders.

Wall Street Analyst Weigh In

PCG has been the topic of several research analyst reports. Barclays raised their target price on PG&E from $20.00 to $21.00 and gave the stock an “overweight” rating in a research report on Friday, April 26th. JPMorgan Chase & Co. raised their price objective on shares of PG&E from $18.00 to $19.00 and gave the stock a “neutral” rating in a report on Tuesday, April 23rd. The Goldman Sachs Group started coverage on shares of PG&E in a research report on Wednesday, April 10th. They set a “buy” rating and a $21.00 price objective for the company. Mizuho increased their target price on shares of PG&E from $21.00 to $23.00 and gave the company a “buy” rating in a research report on Friday. Finally, raised shares of PG&E from a “sell” rating to a “hold” rating in a research report on Thursday, February 1st. Four research analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. According to, the company has a consensus rating of “Moderate Buy” and a consensus target price of $19.44.

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PG&E Company Profile

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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.

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Dividend History for PG&E (NYSE:PCG)

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