PG&E (PCG) Scheduled to Post Earnings on Thursday

PG&E (NYSE:PCG) will be posting its quarterly earnings results before the market opens on Thursday, July 25th. Analysts expect PG&E to post earnings of $0.30 per share for the quarter. PG&E has set its FY 2024 guidance at 1.330-1.370 EPS and its FY24 guidance at $1.33-1.37 EPS.Persons that are interested in registering for the company’s earnings conference call can do so using this link.

PG&E (NYSE:PCG) last issued its earnings results on Thursday, April 25th. The utilities provider reported $0.37 EPS for the quarter, beating analysts’ consensus estimates of $0.35 by $0.02. PG&E had a net margin of 10.05% and a return on equity of 11.32%. The business had revenue of $5.86 billion during the quarter, compared to analysts’ expectations of $6.60 billion. During the same period in the prior year, the business earned $0.29 earnings per share. The company’s quarterly revenue was down 5.6% compared to the same quarter last year. On average, analysts expect PG&E to post $1 EPS for the current fiscal year and $1 EPS for the next fiscal year.

PG&E Price Performance

PG&E stock opened at $18.17 on Wednesday. PG&E has a 12-month low of $14.71 and a 12-month high of $18.95. The stock has a market cap of $52.30 billion, a P/E ratio of 16.22 and a beta of 1.08. The company has a 50-day moving average price of $17.98 and a 200 day moving average price of $17.23. The company has a current ratio of 0.99, a quick ratio of 0.93 and a debt-to-equity ratio of 2.08.

PG&E Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, July 15th. Investors of record on Friday, June 28th were given a dividend of $0.01 per share. This represents a $0.04 annualized dividend and a yield of 0.22%. The ex-dividend date was Friday, June 28th. PG&E’s payout ratio is currently 3.57%.

Wall Street Analyst Weigh In

PCG has been the subject of several research analyst reports. Morgan Stanley lowered their target price on shares of PG&E from $18.00 to $17.00 and set an “equal weight” rating for the company in a research note on Monday, June 24th. JPMorgan Chase & Co. raised shares of PG&E from a “neutral” rating to an “overweight” rating and increased their target price for the stock from $19.00 to $22.00 in a research note on Monday, June 10th. Citigroup increased their target price on shares of PG&E from $19.00 to $21.00 and gave the stock a “buy” rating in a research note on Friday, June 14th. The Goldman Sachs Group initiated coverage on shares of PG&E in a research note on Wednesday, April 10th. They set a “buy” rating and a $21.00 target price for the company. Finally, Barclays increased their target price on shares of PG&E from $21.00 to $22.00 and gave the stock an “overweight” rating in a research note on Monday. Three research analysts have rated the stock with a hold rating and six have given a buy rating to the stock. Based on data from MarketBeat, PG&E has an average rating of “Moderate Buy” and a consensus target price of $20.22.

Insider Activity

In other news, CEO Patricia K. Poppe sold 59,000 shares of the firm’s stock in a transaction that occurred on Tuesday, April 30th. The shares were sold at an average price of $17.08, for a total value of $1,007,720.00. Following the completion of the transaction, the chief executive officer now owns 1,515,777 shares of the company’s stock, valued at $25,889,471.16. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Insiders own 0.15% 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.