PG&E Co. Announces Quarterly Dividend of $0.01 (NYSE:PCG)

PG&E Co. (NYSE:PCG) announced a quarterly dividend on Thursday, September 19th, NASDAQ reports. Stockholders of record on Monday, September 30th will be paid a dividend of 0.01 per share by the utilities provider on Tuesday, October 15th. This represents a $0.04 dividend on an annualized basis and a dividend yield of 0.20%. The ex-dividend date is Monday, September 30th.

PG&E has a payout ratio of 2.7% meaning its dividend is sufficiently covered by earnings. 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 Stock Performance

Shares of PCG stock opened at $19.82 on Friday. The company has a 50 day moving average price of $18.99 and a 200-day moving average price of $17.96. PG&E has a 52 week low of $14.71 and a 52 week high of $20.65. The firm has a market capitalization of $57.07 billion, a PE ratio of 17.70, a P/E/G ratio of 1.54 and a beta of 1.01. The company has a quick ratio of 0.86, a current ratio of 0.90 and a debt-to-equity ratio of 1.99.

PG&E (NYSE:PCG) last announced its quarterly earnings results on Thursday, July 25th. The utilities provider reported $0.31 EPS for the quarter, topping analysts’ consensus estimates of $0.30 by $0.01. PG&E had a net margin of 10.22% and a return on equity of 11.76%. The firm had revenue of $5.99 billion during the quarter, compared to analyst estimates of $5.86 billion. During the same period in the previous year, the business posted $0.23 earnings per share. The business’s revenue for the quarter was up 13.2% on a year-over-year basis. As a group, equities research analysts expect that PG&E will post 1.36 earnings per share for the current year.

Wall Street Analysts Forecast Growth

PCG has been the topic of a number of research reports. JPMorgan Chase & Co. raised shares of PG&E from a “neutral” rating to an “overweight” rating and raised their price objective for the stock from $19.00 to $22.00 in a report on Monday, June 10th. Wells Fargo & Company lifted their price target 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. Barclays lifted their price target on shares of PG&E from $22.00 to $23.00 and gave the company an “overweight” rating in a report on Tuesday, July 30th. Bank of America started coverage on shares of PG&E in a report on Thursday, September 12th. They set a “buy” rating and a $24.00 price target on the stock. Finally, Citigroup lifted their price target on shares of PG&E from $19.00 to $21.00 and gave the company a “buy” rating in a report on Friday, June 14th. Three equities research analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $21.55.

Insider Activity

In other news, VP Stephanie N. Williams sold 38,601 shares of PG&E stock in a transaction that occurred on Thursday, August 15th. The shares were sold at an average price of $18.32, for a total transaction of $707,170.32. Following the sale, the vice president now owns 19,114 shares in the company, valued at $350,168.48. The transaction was disclosed in a document filed with the SEC, which is available at this link. Company 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.