PG&E Co. (PCG) to Distribute Quarterly Dividend of $0.03 on April 15th

PG&E Co. (NYSE:PCG) declared a quarterly dividend on Friday, February 21st, RTT News reports. Investors of record on Monday, March 31st will be paid a dividend of 0.025 per share by the utilities provider on Tuesday, April 15th. This represents a $0.10 dividend on an annualized basis and a yield of 0.63%.

PG&E has a payout ratio of 6.1% indicating that its dividend is sufficiently covered by earnings. Analysts expect PG&E to earn $1.63 per share next year, which means the company should continue to be able to cover its $0.10 annual dividend with an expected future payout ratio of 6.1%.

PG&E Trading Up 1.6 %

Shares of PCG opened at $15.94 on Friday. The business’s 50-day moving average price is $17.50 and its 200 day moving average price is $19.11. The stock has a market capitalization of $42.57 billion, a P/E ratio of 13.86, a P/E/G ratio of 1.09 and a beta of 0.99. PG&E has a 1-year low of $14.99 and a 1-year high of $21.72. The company has a current ratio of 1.05, a quick ratio of 1.00 and a debt-to-equity ratio of 1.86.

PG&E (NYSE:PCG) last issued its quarterly earnings results on Thursday, February 13th. The utilities provider reported $0.31 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.31. PG&E had a return on equity of 10.94% and a net margin of 10.27%. The firm had revenue of $6.63 billion for the quarter, compared to analysts’ expectations of $7.29 billion. During the same quarter last year, the business posted $0.47 EPS. Analysts expect that PG&E will post 1.49 earnings per share for the current year.

Insider Buying and Selling

In related news, Director Arno Lockheart Harris bought 6,389 shares of PG&E stock in a transaction that occurred on Thursday, February 20th. The stock was purchased at an average cost of $15.66 per share, for a total transaction of $100,051.74. Following the acquisition, the director now owns 14,864 shares in the company, valued at $232,770.24. This trade represents a 75.39 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CEO Patricia K. Poppe sold 55,555 shares of the business’s stock in a transaction that occurred 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 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 disclosure for this sale can be found here. Corporate insiders own 0.15% of the company’s stock.

Analyst Ratings Changes

A number of brokerages have commented on PCG. Morgan Stanley lowered PG&E from an “equal weight” rating to an “underweight” rating and decreased their price objective for the stock from $20.00 to $16.50 in a research report on Friday, February 14th. Mizuho raised 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. UBS Group decreased 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 decreased their price objective on PG&E from $24.00 to $23.00 and set an “overweight” rating for the company in a research report on Monday, January 27th. Finally, Guggenheim lowered PG&E from a “buy” rating to a “neutral” rating in a report on Tuesday, February 18th. One research analyst has rated the stock with a sell rating, one has assigned a hold rating and ten have given a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $22.23.

About PG&E

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.