FY2024 Earnings Forecast for PG&E Issued By Seaport Res Ptn

PG&E Co. (NYSE:PCG) – Analysts at Seaport Res Ptn dropped their FY2024 earnings per share estimates for PG&E in a report issued on Thursday, October 31st. Seaport Res Ptn analyst A. Storozynski now forecasts that the utilities provider will post earnings of $1.36 per share for the year, down from their previous estimate of $1.37. The consensus estimate for PG&E’s current full-year earnings is $1.36 per share. Seaport Res Ptn also issued estimates for PG&E’s FY2027 earnings at $1.77 EPS and FY2028 earnings at $1.93 EPS.

Several other equities analysts have also recently issued reports on PCG. Morgan Stanley lifted their price objective on PG&E from $19.00 to $20.00 and gave the stock an “equal weight” rating in a report on Wednesday, September 25th. Barclays lifted their price objective on PG&E from $24.00 to $25.00 and gave the stock an “overweight” rating in a report on Monday, October 21st. Wells Fargo & Company boosted their price target on PG&E from $21.00 to $22.00 and gave the stock an “overweight” rating in a report on Friday, July 26th. Bank of America began coverage on PG&E in a report on Thursday, September 12th. They issued a “buy” rating and a $24.00 price target for the company. Finally, UBS Group boosted their price target on PG&E from $24.00 to $26.00 and gave the stock a “buy” rating in a report on Tuesday, September 3rd. Two analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $22.80.

PG&E Stock Performance

Shares of PCG stock opened at $20.04 on Friday. The stock has a fifty day moving average price of $19.90 and a 200 day moving average price of $18.58. The stock has a market cap of $52.41 billion, a PE ratio of 17.29, a P/E/G ratio of 1.54 and a beta of 1.01. PG&E has a 1 year low of $15.94 and a 1 year high of $20.93. The company has a debt-to-equity ratio of 1.99, a quick ratio of 0.86 and a current ratio of 0.90.

PG&E Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, October 15th. Stockholders of record on Monday, September 30th were given a $0.01 dividend. This represents a $0.04 dividend on an annualized basis and a dividend yield of 0.20%. The ex-dividend date of this dividend was Monday, September 30th. PG&E’s dividend payout ratio is currently 3.42%.

Insider Activity

In other PG&E news, VP Stephanie N. Williams sold 38,601 shares of the business’s stock in a transaction dated Thursday, August 15th. The stock was sold at an average price of $18.32, for a total transaction of $707,170.32. Following the completion of the sale, the vice president now owns 19,114 shares of the company’s stock, valued at approximately $350,168.48. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 0.15% of the company’s stock.

Institutional Investors Weigh In On PG&E

A number of institutional investors have recently added to or reduced their stakes in the company. Axxcess Wealth Management LLC grew its position in PG&E by 3.5% during the first quarter. Axxcess Wealth Management LLC now owns 18,217 shares of the utilities provider’s stock valued at $305,000 after acquiring an additional 614 shares during the period. Ballentine Partners LLC boosted its position in shares of PG&E by 3.1% in the second quarter. Ballentine Partners LLC now owns 22,458 shares of the utilities provider’s stock worth $392,000 after buying an additional 666 shares during the period. Alta Advisers Ltd boosted its position in shares of PG&E by 19.5% in the second quarter. Alta Advisers Ltd now owns 4,900 shares of the utilities provider’s stock worth $86,000 after buying an additional 800 shares during the period. EverSource Wealth Advisors LLC boosted its position in shares of PG&E by 14.5% in the second quarter. EverSource Wealth Advisors LLC now owns 6,830 shares of the utilities provider’s stock worth $125,000 after buying an additional 863 shares during the period. Finally, Meeder Advisory Services Inc. boosted its position in shares of PG&E by 8.0% in the first quarter. Meeder Advisory Services Inc. now owns 12,363 shares of the utilities provider’s stock worth $207,000 after buying an additional 917 shares during the period. Hedge funds and other institutional investors own 78.56% of the company’s stock.

PG&E Company Profile

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.