PG&E (NYSE:PCG) Releases Quarterly Earnings Results, Beats Expectations By $0.05 EPS

PG&E (NYSE:PCG) issued its quarterly earnings data on Thursday. The utilities provider reported $0.37 earnings per share for the quarter, topping analysts’ consensus estimates of $0.32 by $0.05, Briefing.com reports. The business had revenue of $5.94 billion during the quarter, compared to analysts’ expectations of $6.58 billion. PG&E had a net margin of 10.22% and a return on equity of 11.76%. The company’s revenue was up .9% on a year-over-year basis. During the same period last year, the company posted $0.24 EPS.

PG&E Stock Performance

PCG stock traded up $0.24 during trading on Friday, hitting $20.60. 15,092,503 shares of the company’s stock traded hands, compared to its average volume of 13,812,506. The stock has a market capitalization of $53.87 billion, a price-to-earnings ratio of 15.96, a price-to-earnings-growth ratio of 1.53 and a beta of 1.03. PG&E has a 52 week low of $15.94 and a 52 week high of $20.93. The stock has a fifty day moving average price of $20.01 and a two-hundred day moving average price of $18.71. 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 Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, October 15th. Investors 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 was Monday, September 30th. PG&E’s dividend payout ratio (DPR) is presently 3.13%.

Insider Transactions at PG&E

In other PG&E news, VP Stephanie N. Williams sold 38,601 shares of the firm’s stock in a transaction dated Thursday, August 15th. The shares were sold at an average price of $18.32, for a total value of $707,170.32. Following the transaction, the vice president now 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 legal filing with the SEC, which is available at this link. Insiders own 0.15% of the company’s stock.

Analyst Upgrades and Downgrades

PCG has been the topic of several recent research reports. Wells Fargo & Company upped their price objective on PG&E from $21.00 to $22.00 and gave the company an “overweight” rating in a research report on Friday, July 26th. Jefferies Financial Group assumed coverage on shares of PG&E in a research note on Monday, October 14th. They set a “buy” rating and a $24.00 price target on the stock. UBS Group boosted their price objective on shares of PG&E from $24.00 to $26.00 and gave the company a “buy” rating in a research report on Tuesday, September 3rd. Morgan Stanley lifted their target price on shares of PG&E from $19.00 to $20.00 and gave the stock an “equal weight” rating in a research note on Wednesday, September 25th. Finally, Barclays increased their price target on PG&E from $24.00 to $25.00 and gave the stock an “overweight” rating in a research note on Monday, October 21st. Two equities research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. According to data from MarketBeat.com, PG&E currently has a consensus rating of “Moderate Buy” and a consensus price target of $22.80.

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.