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

PG&E Co. (NYSE:PCG) announced a quarterly dividend on Saturday, November 2nd,NASDAQ Dividends reports. Stockholders of record on Tuesday, December 31st will be given a dividend of 0.025 per share by the utilities provider on Wednesday, January 15th. This represents a $0.10 dividend on an annualized basis and a dividend yield of 0.50%. The ex-dividend date of this dividend is Tuesday, December 31st. This is a boost from PG&E’s previous quarterly dividend of $0.01.

PG&E has a dividend payout ratio of 6.7% meaning its dividend is sufficiently covered by earnings. Analysts expect PG&E to earn $1.49 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 6.7%.

PG&E Trading Down 0.3 %

Shares of NYSE PCG traded down $0.07 during trading hours on Friday, hitting $20.14. The company’s stock had a trading volume of 10,354,215 shares, compared to its average volume of 14,302,234. The company has a debt-to-equity ratio of 2.02, a quick ratio of 0.99 and a current ratio of 1.04. The stock has a market cap of $52.67 billion, a price-to-earnings ratio of 15.73, a P/E/G ratio of 1.51 and a beta of 1.01. The business has a 50-day simple moving average of $20.49 and a 200-day simple moving average of $19.37. PG&E has a 12 month low of $15.94 and a 12 month high of $21.72.

PG&E (NYSE:PCG) last announced its earnings results on Thursday, November 7th. The utilities provider reported $0.37 EPS for the quarter, beating analysts’ consensus estimates of $0.32 by $0.05. PG&E had a net margin of 11.11% and a return on equity of 12.51%. The firm 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 business posted $0.24 EPS. The company’s quarterly revenue was up .9% on a year-over-year basis. On average, analysts anticipate that PG&E will post 1.36 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several research firms have recently issued reports on PCG. Morgan Stanley lifted their price target on PG&E from $19.00 to $20.00 and gave the stock an “equal weight” rating in a research report on Wednesday, September 25th. Bank of America began coverage on PG&E in a report on Thursday, September 12th. They issued a “buy” rating and a $24.00 target price on the stock. Jefferies Financial Group started coverage on shares of PG&E in a research report on Monday, October 14th. They set a “buy” rating and a $24.00 price objective for the company. Barclays reduced their target price on shares of PG&E from $25.00 to $24.00 and set an “overweight” rating for the company in a report on Tuesday, December 17th. Finally, UBS Group lowered their price objective on PG&E from $26.00 to $24.00 and set a “buy” rating on the stock in a research report on Thursday, December 19th. Two research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. According to data from MarketBeat.com, PG&E presently has a consensus rating of “Moderate Buy” and a consensus target price of $22.80.

Insider Activity at PG&E

In related news, CEO Patricia K. Poppe sold 55,555 shares of the firm’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 transaction 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 sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 0.15% of the stock is currently owned by insiders.

PG&E Company Profile

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.