PG&E (NYSE:PCG) Issues Earnings Results, Meets Estimates

PG&E (NYSE:PCG) announced its quarterly earnings results on Thursday. The utilities provider reported $0.31 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.31, RTT News reports. PG&E had a net margin of 11.11% and a return on equity of 12.51%. During the same period in the previous year, the firm earned $0.47 earnings per share.

PG&E Stock Performance

Shares of PG&E stock traded down $0.21 during midday trading on Thursday, hitting $15.82. The company had a trading volume of 10,549,425 shares, compared to its average volume of 28,396,125. The business’s 50 day simple moving average is $18.12 and its two-hundred day simple moving average is $19.24. PG&E has a 1-year low of $14.99 and a 1-year high of $21.72. The company has a debt-to-equity ratio of 2.02, a current ratio of 1.04 and a quick ratio of 0.99. The stock has a market cap of $41.38 billion, a PE ratio of 12.36, a P/E/G ratio of 1.09 and a beta of 0.99.

Insider Buying and Selling at PG&E

In related news, CEO Patricia K. Poppe sold 55,555 shares of the business’s stock in a transaction on Monday, December 2nd. The stock was sold at an average price of $20.66, for a total value of $1,147,766.30. Following the sale, the chief executive officer now owns 1,460,222 shares of the company’s stock, valued at $30,168,186.52. The trade was a 3.67 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 0.15% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages have recently weighed in on PCG. Mizuho lifted their target price on shares of PG&E from $24.00 to $26.00 and gave the company an “outperform” rating in a report on Wednesday, November 27th. UBS Group cut their price objective on PG&E from $24.00 to $22.00 and set a “buy” rating for the company in a research report on Thursday, January 30th. Barclays cut their price objective on shares of PG&E from $24.00 to $23.00 and set an “overweight” rating for the company in a research report on Monday, January 27th. JPMorgan Chase & Co. restated an “overweight” rating and issued a $22.00 price target on shares of PG&E in a report on Wednesday. Finally, BMO Capital Markets began coverage on PG&E in a research report on Monday, January 13th. They issued an “outperform” rating and a $21.00 target price on the stock. One investment analyst has rated the stock with a hold rating and ten have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $22.36.

PG&E Company Profile

PG&E Corp. operates as a holding company, which engages in generation, transmission, and distribution of electricity and natural gas to customers. It specializes in energy, utility, power, gas, electricity, solar and sustainability. The company was founded in 1995 and is headquartered in Oakland, CA.