PG&E (NYSE:PCG) Issues FY 2024 Earnings Guidance

PG&E (NYSE:PCG) updated its FY 2024 earnings guidance on Thursday. The company provided EPS guidance of 1.330-1.370 for the period, compared to the consensus EPS estimate of 1.350. The company issued revenue guidance of -.

Analyst Upgrades and Downgrades

Several equities analysts recently weighed in on the company. The Goldman Sachs Group assumed coverage on PG&E in a research note on Wednesday, April 10th. They issued a buy rating and a $21.00 price target for the company. StockNews.com upgraded PG&E from a sell rating to a hold rating in a research note on Thursday, February 1st. JPMorgan Chase & Co. lifted their price target on PG&E from $18.00 to $19.00 and gave the company a neutral rating in a research note on Tuesday. Finally, Barclays cut their price target on PG&E from $20.00 to $19.00 and set an overweight rating for the company in a research note on Monday, January 22nd. Four investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. According to MarketBeat.com, PG&E presently has an average rating of Moderate Buy and an average target price of $18.89.

PG&E Stock Up 0.2 %

PG&E stock opened at $17.00 on Thursday. The firm has a market capitalization of $36.33 billion, a P/E ratio of 16.19 and a beta of 1.32. The stock’s fifty day simple moving average is $16.56 and its 200-day simple moving average is $16.88. The company has a current ratio of 0.83, a quick ratio of 0.78 and a debt-to-equity ratio of 2.04. PG&E has a twelve month low of $14.71 and a twelve month high of $18.32.

PG&E (NYSE:PCG) last posted its earnings results on Thursday, February 22nd. The utilities provider reported $0.47 EPS for the quarter, beating the consensus estimate of $0.46 by $0.01. The firm had revenue of $7.04 billion for the quarter, compared to analyst estimates of $6.43 billion. PG&E had a return on equity of 10.84% and a net margin of 9.24%. During the same quarter in the prior year, the company posted $0.26 earnings per share. As a group, equities analysts expect that PG&E will post 1.35 earnings per share for the current fiscal year.

PG&E Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, April 15th. Investors of record on Thursday, March 28th were issued a $0.01 dividend. This represents a $0.04 annualized dividend and a yield of 0.24%. The ex-dividend date of this dividend was Wednesday, March 27th. PG&E’s dividend payout ratio (DPR) is presently 3.81%.

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.