PG&E (NYSE:PCG) Releases FY24 Earnings Guidance

PG&E (NYSE:PCG) issued an update on its FY24 earnings guidance on Monday morning. The company provided EPS guidance of $1.34-1.37 for the period, compared to the consensus EPS estimate of $1.36. PG&E also updated its FY25 guidance to $1.47-1.51 EPS.

Wall Street Analysts Forecast Growth

Several equities analysts recently commented on PCG shares. Bank of America started coverage on PG&E in a research note on Thursday, September 12th. They issued a “buy” rating and a $24.00 target price for the company. Barclays lifted their price target on shares of PG&E from $24.00 to $25.00 and gave the company an “overweight” rating in a report on Monday, October 21st. Mizuho upped their price target on PG&E from $24.00 to $26.00 and gave the stock an “outperform” rating in a research note on Wednesday, November 27th. Morgan Stanley increased their target price on shares of PG&E from $19.00 to $20.00 and gave the stock an “equal weight” rating in a research report on Wednesday, September 25th. Finally, UBS Group boosted their price objective on shares of PG&E from $24.00 to $26.00 and gave the stock a “buy” rating in a research note on Tuesday, September 3rd. Two analysts have rated the stock with a hold rating and nine have given a buy rating to the company. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $23.10.

PG&E Stock Performance

PG&E stock opened at $20.56 on Tuesday. PG&E has a 12-month low of $15.94 and a 12-month 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. The company has a market capitalization of $53.76 billion, a price-to-earnings ratio of 16.06, a price-to-earnings-growth ratio of 1.66 and a beta of 1.01. The firm’s fifty day moving average price is $20.45 and its 200 day moving average price is $19.16.

PG&E (NYSE:PCG) last released its quarterly earnings results on Thursday, November 7th. The utilities provider reported $0.37 EPS for the quarter, topping the consensus estimate of $0.32 by $0.05. PG&E had a return on equity of 12.51% and a net margin of 11.11%. The business had revenue of $5.94 billion for the quarter, compared to analysts’ expectations of $6.58 billion. During the same quarter in the previous year, the firm posted $0.24 earnings per share. The company’s revenue was up .9% compared to the same quarter last year. On average, research analysts forecast that PG&E will post 1.36 EPS for the current fiscal year.

PG&E Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, October 15th. Investors of record on Monday, September 30th were paid a $0.01 dividend. The ex-dividend date was Monday, September 30th. This represents a $0.04 dividend on an annualized basis and a dividend yield of 0.19%. PG&E’s dividend payout ratio (DPR) is presently 3.13%.

Insider Buying and Selling at PG&E

In other news, CEO Patricia K. Poppe sold 55,555 shares of the company’s stock in a transaction dated Monday, December 2nd. The shares were sold at an average price of $20.66, for a total value of $1,147,766.30. Following the sale, the chief executive officer now 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 document filed with the SEC, which can be accessed through this hyperlink. 0.15% of the stock is currently owned by insiders.

About PG&E

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.