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

PG&E Co. (NYSE:PCG) declared a quarterly dividend on Friday, September 20th, NASDAQ reports. Stockholders of record on Monday, September 30th will be paid a dividend of 0.01 per share by the utilities provider on Tuesday, October 15th. This represents a $0.04 annualized dividend and a dividend yield of 0.20%. The ex-dividend date of this dividend is Monday, September 30th.

PG&E has a dividend payout ratio of 2.7% indicating that its dividend is sufficiently covered by earnings. Equities 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 Stock Up 2.4 %

Shares of PCG stock traded up $0.48 during trading on Friday, reaching $20.08. The company’s stock had a trading volume of 34,966,003 shares, compared to its average volume of 14,400,933. PG&E has a one year low of $14.71 and a one year high of $20.65. The business has a fifty day moving average price of $18.78 and a 200-day moving average price of $17.84. The company has a market cap of $52.51 billion, a price-to-earnings ratio of 17.49 and a beta of 1.01. The company has a quick ratio of 0.86, a current ratio of 0.90 and a debt-to-equity ratio of 1.99.

PG&E (NYSE:PCG) last posted its quarterly earnings results on Thursday, July 25th. The utilities provider reported $0.31 earnings per share for the quarter, topping the consensus estimate of $0.30 by $0.01. The firm had revenue of $5.99 billion for the quarter, compared to analyst estimates of $5.86 billion. PG&E had a return on equity of 11.76% and a net margin of 10.22%. The business’s quarterly revenue was up 13.2% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.23 EPS. Analysts anticipate that PG&E will post 1.35 earnings per share for the current year.

Insider Buying and Selling

In other news, VP Stephanie N. Williams sold 38,601 shares of the firm’s stock in a transaction that occurred on Thursday, August 15th. The shares were sold at an average price of $18.32, for a total transaction of $707,170.32. Following the transaction, the vice president now directly owns 19,114 shares of the company’s stock, valued at $350,168.48. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.15% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

A number of brokerages have recently commented on PCG. UBS Group lifted their price objective on shares of PG&E from $24.00 to $26.00 and gave the company a “buy” rating in a research report on Tuesday, September 3rd. Morgan Stanley boosted their price target on PG&E from $18.00 to $19.00 and gave the stock an “equal weight” rating in a research report on Friday, August 23rd. Citigroup upped their price objective on PG&E from $19.00 to $21.00 and gave the company a “buy” rating in a research note on Friday, June 14th. Wells Fargo & Company lifted their target price on PG&E from $21.00 to $22.00 and gave the stock an “overweight” rating in a research note on Friday, July 26th. Finally, JPMorgan Chase & Co. raised PG&E from a “neutral” rating to an “overweight” rating and boosted their target price for the stock from $19.00 to $22.00 in a report on Monday, June 10th. Three analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $21.45.

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.