PG&E Co. (NYSE:PCG) to Issue $0.01 Quarterly Dividend

PG&E Co. (NYSE:PCG) announced a quarterly dividend on Thursday, September 19th, NASDAQ reports. Shareholders of record on Monday, September 30th will be given a dividend of 0.01 per share by the utilities provider on Tuesday, October 15th. This represents a $0.04 annualized dividend and a yield of 0.20%. The ex-dividend date is Monday, September 30th.

PG&E has a payout ratio of 2.7% meaning its dividend is sufficiently covered by earnings. Equities 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 Performance

Shares of PCG stock opened at $19.82 on Friday. The company’s fifty day simple moving average is $19.03 and its 200-day simple moving average is $17.98. The company has a current ratio of 0.90, a quick ratio of 0.86 and a debt-to-equity ratio of 1.99. PG&E has a 52 week low of $14.71 and a 52 week high of $20.65. The company has a market cap of $51.83 billion, a PE ratio of 17.70, a P/E/G ratio of 1.52 and a beta of 1.01.

PG&E (NYSE:PCG) last released its quarterly earnings data on Thursday, July 25th. The utilities provider reported $0.31 EPS for the quarter, beating the consensus estimate of $0.30 by $0.01. PG&E had a return on equity of 11.76% and a net margin of 10.22%. The company had revenue of $5.99 billion for the quarter, compared to analyst estimates of $5.86 billion. During the same period last year, the company posted $0.23 earnings per share. The firm’s revenue was up 13.2% compared to the same quarter last year. As a group, equities research analysts anticipate that PG&E will post 1.36 EPS for the current year.

Analyst Upgrades and Downgrades

Several analysts have issued reports on the stock. Wells Fargo & Company increased their price objective on shares of PG&E from $21.00 to $22.00 and gave the company an “overweight” rating in a research report on Friday, July 26th. JPMorgan Chase & Co. raised shares of PG&E from a “neutral” rating to an “overweight” rating and raised their price target for the company from $19.00 to $22.00 in a report on Monday, June 10th. 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 report on Tuesday, September 3rd. Bank of America began coverage on PG&E in a research note on Thursday, September 12th. They set a “buy” rating and a $24.00 target price for the company. Finally, Citigroup boosted their price target on PG&E from $19.00 to $21.00 and gave the stock a “buy” rating in a research note on Friday, June 14th. Three research analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. According to MarketBeat, PG&E has an average rating of “Moderate Buy” and an average price target of $21.55.

Insider Buying and Selling at PG&E

In related news, VP Stephanie N. Williams sold 38,601 shares of the firm’s stock in a transaction on Thursday, August 15th. The stock was sold at an average price of $18.32, for a total transaction of $707,170.32. Following the transaction, the vice president now directly owns 19,114 shares in the company, valued at $350,168.48. The sale was disclosed in a document filed 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.