PG&E Co. (PCG) to Issue Quarterly Dividend of $0.01 on October 15th

by · The Markets Daily

PG&E Co. (NYSE:PCG – Get Free Report) declared a quarterly dividend on Thursday, September 19th, NASDAQ reports. Shareholders of record on Monday, September 30th will be given a dividend of 0.01 per share by the utilities provider on Tuesday, October 15th. This represents a $0.04 dividend on an annualized basis and a yield of 0.20%. The ex-dividend date is Monday, September 30th.

PG&E has a dividend payout ratio of 2.7% meaning its dividend is sufficiently covered by earnings. Equities research 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 Performance

Shares of PCG stock opened at $19.82 on Friday. The firm’s 50 day moving average is $18.99 and its 200 day moving average is $17.96. The company has a current ratio of 0.90, a quick ratio of 0.86 and a debt-to-equity ratio of 1.99. The stock has a market capitalization of $57.07 billion, a P/E ratio of 17.70, a PEG ratio of 1.54 and a beta of 1.01. PG&E has a 12 month low of $14.71 and a 12 month high of $20.65.

PG&E (NYSE:PCG – Get Free Report) last posted its earnings results on Thursday, July 25th. The utilities provider reported $0.31 earnings per share for the quarter, topping analysts’ consensus estimates of $0.30 by $0.01. The business had revenue of $5.99 billion for the quarter, compared to analyst estimates of $5.86 billion. PG&E had a net margin of 10.22% and a return on equity of 11.76%. PG&E’s revenue was up 13.2% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.23 EPS. On average, sell-side analysts anticipate that PG&E will post 1.36 earnings per share for the current year.

Insider Transactions at PG&E

In other news, VP Stephanie N. Williams sold 38,601 shares of the firm’s stock in a transaction dated 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 approximately $350,168.48. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Corporate insiders own 0.15% of the company’s stock.

Analyst Ratings Changes

PCG has been the topic of a number of analyst reports. Barclays upped their target price on shares of PG&E from $22.00 to $23.00 and gave the stock an “overweight” rating in a report on Tuesday, July 30th. Bank of America began coverage on shares of PG&E in a research note on Thursday, September 12th. They issued a “buy” rating and a $24.00 price objective for the company. Morgan Stanley upped their price objective on shares of PG&E from $19.00 to $20.00 and gave the company an “equal weight” rating in a research note on Wednesday. UBS Group upped their price objective on shares of PG&E from $24.00 to $26.00 and gave the company a “buy” rating in a research note on Tuesday, September 3rd. Finally, Wells Fargo & Company upped their price objective on shares of PG&E from $21.00 to $22.00 and gave the company an “overweight” rating in a research note on Friday, July 26th. Three analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $21.55.

View Our Latest Report on PCG

PG&E Company Profile

(Get Free Report)

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.

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