PG&E (NYSE:PCG) Updates FY24 Earnings Guidance

PG&E (NYSE:PCG) issued an update on its FY24 earnings guidance on Monday morning. The company provided EPS guidance of $1.34-1.37 for the period, compared to the consensus EPS estimate of $1.36. PG&E also updated its FY25 guidance to $1.47-1.51 EPS.

Wall Street Analyst Weigh In

A number of equities research analysts have commented on PCG shares. UBS Group increased 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 raised their price target on PG&E from $19.00 to $20.00 and gave the company an “equal weight” rating in a research note on Wednesday, September 25th. Mizuho upped their price objective on PG&E from $24.00 to $26.00 and gave the stock an “outperform” rating in a research report on Wednesday, November 27th. Jefferies Financial Group assumed coverage on shares of PG&E in a research report on Monday, October 14th. They issued a “buy” rating and a $24.00 price target for the company. Finally, Bank of America started coverage on shares of PG&E in a research report on Thursday, September 12th. They set a “buy” rating and a $24.00 target price on the stock. Two investment analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $23.10.

PG&E Trading Down 5.0 %

NYSE PCG opened at $20.56 on Tuesday. The company has a quick ratio of 0.99, a current ratio of 1.04 and a debt-to-equity ratio of 2.02. The stock has a market capitalization of $53.76 billion, a P/E ratio of 16.06, a P/E/G ratio of 1.66 and a beta of 1.01. PG&E has a 52-week low of $15.94 and a 52-week high of $21.72. The firm has a 50-day moving average price of $20.45 and a 200 day moving average price of $19.16.

PG&E (NYSE:PCG) last issued its earnings results on Thursday, November 7th. The utilities provider reported $0.37 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.32 by $0.05. PG&E had a return on equity of 12.51% and a net margin of 11.11%. The business had revenue of $5.94 billion during the quarter, compared to the consensus estimate of $6.58 billion. During the same period in the prior year, the business posted $0.24 EPS. The company’s revenue for the quarter was up .9% on a year-over-year basis. Equities research analysts expect that PG&E will post 1.36 EPS for the current year.

PG&E Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, October 15th. Investors of record on Monday, September 30th were paid a $0.01 dividend. This represents a $0.04 annualized dividend and a dividend yield of 0.19%. The ex-dividend date was Monday, September 30th. PG&E’s dividend payout ratio (DPR) is 3.13%.

Insiders Place Their Bets

In other PG&E news, CEO Patricia K. Poppe sold 55,555 shares of the firm’s stock in a transaction on Monday, December 2nd. The stock was sold at an average price of $20.66, for a total transaction of $1,147,766.30. Following the completion of the transaction, the chief executive officer now owns 1,460,222 shares of the company’s stock, valued at approximately $30,168,186.52. This trade represents a 3.67 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. 0.15% of the stock is currently owned by company insiders.

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.