PG&E Co. (NYSE:PCG) Declares $0.03 Quarterly Dividend

PG&E Co. (NYSE:PCG) declared a quarterly dividend on Thursday, February 20th, RTT News reports. Shareholders 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 annualized dividend and a yield of 0.59%. The ex-dividend date is Monday, March 31st.

PG&E has a payout ratio of 6.1% meaning its dividend is sufficiently covered by earnings. Research 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 Stock Performance

Shares of PCG stock opened at $16.98 on Friday. The company has a debt-to-equity ratio of 1.86, a current ratio of 1.05 and a quick ratio of 1.00. The firm has a 50-day moving average of $16.21 and a 200-day moving average of $18.68. PG&E has a one year low of $14.99 and a one year high of $21.72. The company has a market cap of $45.35 billion, a P/E ratio of 14.76, a P/E/G ratio of 1.09 and a beta of 1.04.

PG&E (NYSE:PCG) last posted its quarterly earnings data on Thursday, February 13th. The utilities provider reported $0.31 EPS for the quarter, meeting the consensus estimate of $0.31. PG&E had a net margin of 10.27% and a return on equity of 10.94%. The firm had revenue of $6.63 billion during the quarter, compared to analyst estimates of $7.29 billion. During the same quarter last year, the business posted $0.47 EPS. Equities research analysts forecast that PG&E will post 1.49 EPS for the current fiscal year.

Insider Transactions at PG&E

In other news, Director Arno Lockheart Harris purchased 6,389 shares of the stock in a transaction dated Thursday, February 20th. The shares were purchased at an average cost of $15.66 per share, with a total value of $100,051.74. Following the completion of the acquisition, the director now owns 14,864 shares in the company, valued at $232,770.24. This represents a 75.39 % increase in their position. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, EVP Carla J. Peterman sold 32,521 shares of the firm’s stock in a transaction that occurred on Tuesday, March 4th. The shares were sold at an average price of $16.37, for a total transaction of $532,368.77. Following the completion of the transaction, the executive vice president now owns 183,635 shares of the company’s stock, valued at $3,006,104.95. This trade represents a 15.05 % 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.

Analysts Set New Price Targets

A number of brokerages have issued reports on PCG. BMO Capital Markets upped their price objective on PG&E from $21.00 to $23.00 and gave the company an “outperform” rating in a research note on Tuesday, February 18th. Barclays decreased their price objective on shares of PG&E from $24.00 to $23.00 and set an “overweight” rating for the company in a report on Monday, January 27th. JPMorgan Chase & Co. reiterated an “overweight” rating and issued a $22.00 target price on shares of PG&E in a research note on Wednesday, February 12th. Guggenheim lowered shares of PG&E from a “buy” rating to a “neutral” rating in a research note on Tuesday, February 18th. Finally, Morgan Stanley upped their price objective on PG&E from $16.50 to $17.50 and gave the company an “underweight” rating in a research note on Thursday, March 20th. One investment analyst has rated the stock with a sell rating, two have given a hold rating and nine have given a buy rating to the company. According to data from MarketBeat.com, PG&E presently has a consensus rating of “Moderate Buy” and a consensus price target of $22.05.

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.