PG&E (NYSE:PCG) Issues FY24 Earnings Guidance

PG&E (NYSE:PCG) updated its FY24 earnings guidance on Monday. The company provided EPS guidance of $1.34-1.37 for the period, compared to the consensus EPS estimate of $1.36. PG&E also updated its FY25 guidance to $1.47-1.51 EPS.

PG&E Price Performance

PCG opened at $21.63 on Monday. PG&E has a 12 month low of $15.94 and a 12 month high of $21.72. The company has a market cap of $56.57 billion, a PE ratio of 16.90, a price-to-earnings-growth ratio of 1.66 and a beta of 1.03. The company has a current ratio of 1.04, a quick ratio of 0.99 and a debt-to-equity ratio of 2.02. The company has a 50 day moving average of $20.44 and a 200 day moving average of $19.14.

PG&E (NYSE:PCG) last announced its quarterly earnings results on Thursday, November 7th. The utilities provider reported $0.37 earnings per share for the quarter, beating the consensus estimate of $0.32 by $0.05. The company had revenue of $5.94 billion during the quarter, compared to analysts’ expectations of $6.58 billion. PG&E had a return on equity of 12.51% and a net margin of 11.11%. The firm’s quarterly revenue was up .9% compared to the same quarter last year. During the same period in the previous year, the business earned $0.24 earnings per share. On average, sell-side analysts expect that PG&E will post 1.36 EPS for the current year.

PG&E Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, October 15th. Stockholders of record on Monday, September 30th were issued a $0.01 dividend. This represents a $0.04 dividend on an annualized basis and a dividend yield of 0.18%. 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 topic of several recent analyst reports. Bank of America began coverage on shares of PG&E in a research note on Thursday, September 12th. They issued a “buy” rating and a $24.00 target price on the stock. UBS Group lifted their price objective on PG&E from $24.00 to $26.00 and gave the company a “buy” rating in a research note on Tuesday, September 3rd. Mizuho upped their target price on PG&E from $24.00 to $26.00 and gave the stock an “outperform” rating in a research note on Wednesday, November 27th. Morgan Stanley lifted their price target on PG&E from $19.00 to $20.00 and gave the company an “equal weight” rating in a research report on Wednesday, September 25th. Finally, Jefferies Financial Group began coverage on shares of PG&E in a research report on Monday, October 14th. They issued a “buy” rating and a $24.00 price objective on the stock. Two analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $23.10.

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.