PG&E (NYSE:PCG) Issues Earnings Results

PG&E (NYSE:PCG) released its quarterly earnings data on Thursday. The utilities provider reported $0.31 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.31, RTT News reports. PG&E had a return on equity of 12.51% and a net margin of 11.11%. During the same period in the prior year, the business posted $0.47 EPS.

PG&E Trading Down 1.5 %

PCG traded down $0.24 during trading hours on Thursday, reaching $15.80. 11,408,396 shares of the company’s stock traded hands, compared to its average volume of 28,449,863. The firm has a 50-day moving average price of $18.12 and a 200 day moving average price of $19.24. PG&E has a 52-week low of $14.99 and a 52-week high of $21.72. 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 firm has a market capitalization of $41.31 billion, a PE ratio of 12.34, a PEG ratio of 1.09 and a beta of 0.99.

Wall Street Analysts Forecast Growth

A number of analysts have issued reports on the company. UBS Group reduced their price objective on PG&E from $24.00 to $22.00 and set a “buy” rating on the stock in a research note on Thursday, January 30th. JPMorgan Chase & Co. reissued an “overweight” rating and set a $22.00 target price on shares of PG&E in a research report on Wednesday. BMO Capital Markets initiated coverage on PG&E in a research report on Monday, January 13th. They set an “outperform” rating and a $21.00 target price on the stock. Barclays cut their target price on PG&E from $24.00 to $23.00 and set an “overweight” rating on the stock in a research report on Monday, January 27th. Finally, Mizuho boosted their target price on PG&E from $24.00 to $26.00 and gave the company an “outperform” rating in a research report on Wednesday, November 27th. One investment analyst has rated the stock with a hold rating and ten have issued a buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $22.36.

Insider Activity at PG&E

In other PG&E news, CEO Patricia K. Poppe sold 55,555 shares of the company’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 completion of the sale, the chief executive officer now directly owns 1,460,222 shares in the company, valued at approximately $30,168,186.52. This represents a 3.67 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.15% of the stock is owned by company insiders.

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.