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

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

PG&E Stock Performance

NYSE:PCG traded up $0.24 during trading hours on Friday, reaching $20.60. The company had a trading volume of 15,092,503 shares, compared to its average volume of 13,812,506. The firm’s 50 day moving average price is $20.01 and its 200-day moving average price is $18.71. The firm has a market cap of $53.87 billion, a price-to-earnings ratio of 15.96, a PEG 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 company has a current ratio of 0.90, a quick ratio of 0.86 and a debt-to-equity ratio of 1.99.

PG&E Dividend Announcement

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 dividend of $0.01 per share. This represents a $0.04 dividend on an annualized basis and a dividend yield of 0.19%. The ex-dividend date of this dividend was Monday, September 30th. PG&E’s payout ratio is 3.13%.

Analyst Ratings Changes

A number of research analysts recently weighed in on the stock. Jefferies Financial Group started coverage on shares of PG&E in a research note on Monday, October 14th. They issued a “buy” rating and a $24.00 price objective for the company. Barclays boosted their price objective on PG&E from $24.00 to $25.00 and gave the company an “overweight” rating in a research note on Monday, October 21st. UBS Group raised their target price on PG&E from $24.00 to $26.00 and gave the stock a “buy” rating in a research note on Tuesday, September 3rd. Morgan Stanley increased their price target on shares of PG&E from $19.00 to $20.00 and gave the stock an “equal weight” rating in a report on Wednesday, September 25th. Finally, Bank of America began coverage on shares of PG&E in a research note on Thursday, September 12th. They set a “buy” rating and a $24.00 price objective for the company. Two investment analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $22.80.

Insider Buying and Selling

In other news, VP Stephanie N. Williams sold 38,601 shares of the stock in a transaction on Thursday, August 15th. The shares were sold at an average price of $18.32, for a total value of $707,170.32. Following the completion of the sale, the vice president now directly owns 19,114 shares of the company’s stock, valued at $350,168.48. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. 0.15% of the stock is currently owned by insiders.

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.