PG&E (NYSE:PCG) Releases Earnings Results, Meets Estimates

PG&E (NYSE:PCG) issued its earnings results 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%. The business had revenue of $6.63 billion during the quarter, compared to analysts’ expectations of $7.29 billion. During the same period in the prior year, the firm posted $0.47 EPS.

PG&E Trading Down 3.5 %

Shares of NYSE PCG traded down $0.56 during midday trading on Friday, hitting $15.30. The stock had a trading volume of 28,221,341 shares, compared to its average volume of 32,168,314. The company’s 50-day simple moving average is $17.93 and its 200 day simple moving average is $19.19. The firm has a market cap of $40.00 billion, a P/E ratio of 11.95, a price-to-earnings-growth ratio of 1.09 and a beta of 0.99. PG&E has a fifty-two week low of $14.99 and a fifty-two week high of $21.72. The company has a debt-to-equity ratio of 2.02, a current ratio of 1.04 and a quick ratio of 0.99.

Insider Activity

In other news, CEO Patricia K. Poppe sold 55,555 shares of PG&E 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 of the company’s stock, valued at approximately $30,168,186.52. This trade represents a 3.67 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 0.15% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts have recently issued reports on the company. JPMorgan Chase & Co. reissued an “overweight” rating and issued a $22.00 target price on shares of PG&E in a report on Wednesday. Morgan Stanley cut PG&E from an “equal weight” rating to an “underweight” rating and dropped their target price for the stock from $20.00 to $16.50 in a report on Friday. BMO Capital Markets began coverage on PG&E in a report on Monday, January 13th. They issued an “outperform” rating and a $21.00 target price for the company. UBS Group dropped their price target on PG&E from $24.00 to $22.00 and set a “buy” rating for the company in a report on Thursday, January 30th. Finally, Barclays dropped their price target on PG&E from $24.00 to $23.00 and set an “overweight” rating for the company in a report on Monday, January 27th. One equities research analyst has rated the stock with a sell rating and ten have given a buy rating to the company. According to MarketBeat, PG&E currently has a consensus rating of “Moderate Buy” and an average target price of $22.05.

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.