PG&E Co. (NYSE:PCG) Plans Quarterly Dividend of $0.01

PG&E Co. (NYSE:PCG) announced a quarterly dividend on Friday, May 17th, RTT News reports. Shareholders of record on Friday, June 28th will be paid a dividend of 0.01 per share by the utilities provider on Monday, July 15th. This represents a $0.04 dividend on an annualized basis and a yield of 0.22%.

PG&E has a payout ratio of 2.7% meaning its dividend is sufficiently covered by earnings. Analysts expect PG&E to earn $1.47 per share next year, which means the company should continue to be able to cover its $0.04 annual dividend with an expected future payout ratio of 2.7%.

PG&E Stock Up 0.8 %

Shares of NYSE:PCG opened at $18.60 on Friday. The company has a debt-to-equity ratio of 2.08, a quick ratio of 0.93 and a current ratio of 0.99. PG&E has a 52-week low of $14.71 and a 52-week high of $18.62. The company has a market capitalization of $53.55 billion, a PE ratio of 16.61 and a beta of 1.26. The company has a fifty day moving average of $16.90 and a 200-day moving average of $17.06.

PG&E (NYSE:PCG) last announced its quarterly earnings results on Thursday, April 25th. The utilities provider reported $0.37 EPS for the quarter, beating analysts’ consensus estimates of $0.35 by $0.02. PG&E had a return on equity of 11.32% and a net margin of 10.05%. The firm had revenue of $5.86 billion for the quarter, compared to analyst estimates of $6.60 billion. During the same period last year, the firm posted $0.29 earnings per share. The business’s revenue for the quarter was down 5.6% on a year-over-year basis. On average, equities analysts predict that PG&E will post 1.35 EPS for the current fiscal year.

Analysts Set New Price Targets

PCG has been the subject of several analyst reports. StockNews.com raised shares of PG&E from a “sell” rating to a “hold” rating in a research note on Thursday, February 1st. Mizuho lifted their target price on PG&E from $21.00 to $23.00 and gave the stock a “buy” rating in a report on Friday. The Goldman Sachs Group started coverage on PG&E in a research note on Wednesday, April 10th. They issued a “buy” rating and a $21.00 price target for the company. JPMorgan Chase & Co. lifted their price objective on PG&E from $18.00 to $19.00 and gave the stock a “neutral” rating in a research note on Tuesday, April 23rd. Finally, Barclays raised their price target on shares of PG&E from $20.00 to $21.00 and gave the stock an “overweight” rating in a report on Friday, April 26th. Four research analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. According to data from MarketBeat, PG&E currently has a consensus rating of “Moderate Buy” and an average price target of $19.44.

Insider Transactions at PG&E

In other PG&E news, CEO Patricia K. Poppe sold 59,000 shares of the firm’s stock in a transaction that occurred on Tuesday, April 30th. The stock was sold at an average price of $17.08, for a total value of $1,007,720.00. Following the completion of the sale, the chief executive officer now owns 1,515,777 shares of the company’s stock, valued at $25,889,471.16. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 0.15% of the company’s stock.

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.