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

PG&E Co. (NYSE:PCG) declared a quarterly dividend on Friday, May 17th, RTT News reports. Shareholders 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 dividend on an annualized basis and a yield of 0.23%. The ex-dividend date is Friday, June 28th.

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

Shares of NYSE PCG opened at $17.58 on Thursday. The firm’s 50-day simple moving average is $17.89 and its 200 day simple moving average is $17.25. The stock has a market cap of $50.60 billion, a P/E ratio of 15.69 and a beta of 1.19. The company has a quick ratio of 0.93, a current ratio of 0.99 and a debt-to-equity ratio of 2.08. PG&E has a fifty-two week low of $14.71 and a fifty-two week high of $18.95.

PG&E (NYSE:PCG) last released its quarterly 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. The company had revenue of $5.86 billion for the quarter, compared to the consensus estimate of $6.60 billion. PG&E had a net margin of 10.05% and a return on equity of 11.32%. PG&E’s revenue was down 5.6% on a year-over-year basis. During the same period in the previous year, the firm earned $0.29 EPS. Equities analysts expect that PG&E will post 1.35 EPS for the current year.

Wall Street Analyst Weigh In

A number of equities research analysts have recently commented on PCG shares. Mizuho increased their price objective on PG&E from $21.00 to $23.00 and gave the company a “buy” rating in a research report on Friday, May 17th. Citigroup lifted their price target on PG&E from $19.00 to $21.00 and gave the stock a “buy” rating in a research note on Friday, June 14th. JPMorgan Chase & Co. upgraded shares of PG&E from a “neutral” rating to an “overweight” rating and increased their target price for the stock from $19.00 to $22.00 in a research report on Monday, June 10th. Morgan Stanley dropped their price target on shares of PG&E from $18.00 to $17.00 and set an “equal weight” rating on the stock in a research note on Monday. Finally, Barclays reduced their price objective on PG&E from $22.00 to $21.00 and set an “overweight” rating for the company in a research report on Monday, June 17th. Three investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, PG&E presently has a consensus rating of “Moderate Buy” and a consensus price target of $20.11.

Insiders Place Their Bets

In other news, CEO Patricia K. Poppe sold 59,000 shares of PG&E stock in a transaction that occurred on Tuesday, April 30th. The shares were sold at an average price of $17.08, for a total value 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 legal filing with the SEC, which is available at the SEC website. Company insiders own 0.15% of the company’s stock.

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.