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

PG&E Co. (NYSE:PCG) declared a quarterly dividend on Friday, February 21st, RTT News reports. Stockholders 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 dividend yield of 0.63%.

PG&E has a dividend payout ratio of 6.1% indicating that its dividend is sufficiently covered by earnings. Equities 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 Trading Up 1.6 %

Shares of NYSE PCG opened at $15.94 on Friday. PG&E has a fifty-two week low of $14.99 and a fifty-two week high of $21.72. The firm has a market capitalization of $42.57 billion, a P/E ratio of 13.86, a P/E/G ratio of 1.09 and a beta of 0.99. 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 company’s 50 day simple moving average is $17.50 and its 200 day simple moving average is $19.10.

PG&E (NYSE:PCG) last posted its quarterly earnings results on Thursday, February 13th. The utilities provider reported $0.31 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.31. PG&E had a return on equity of 10.94% and a net margin of 10.27%. The company had revenue of $6.63 billion for the quarter, compared to the consensus estimate of $7.29 billion. During the same quarter in the prior year, the business posted $0.47 EPS. On average, analysts predict that PG&E will post 1.49 EPS for the current year.

Insider Transactions at PG&E

In other news, CEO Patricia K. Poppe sold 55,555 shares of the stock in a transaction that occurred on Monday, December 2nd. The stock was sold at an average price of $20.66, for a total value of $1,147,766.30. Following the completion of the sale, the chief executive officer now owns 1,460,222 shares of the company’s stock, valued at approximately $30,168,186.52. This represents a 3.67 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Arno Lockheart Harris bought 6,389 shares of the firm’s stock in a transaction that occurred on Thursday, February 20th. The stock was purchased at an average cost of $15.66 per share, with a total value of $100,051.74. Following the completion of the purchase, the director now directly owns 14,864 shares of the company’s stock, valued at $232,770.24. This represents a 75.39 % increase in their position. The disclosure for this purchase can be found here. 0.15% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

Several equities analysts have recently issued reports on PCG shares. Barclays decreased their target price on PG&E from $24.00 to $23.00 and set an “overweight” rating for the company in a research report on Monday, January 27th. JPMorgan Chase & Co. restated an “overweight” rating and set a $22.00 price objective on shares of PG&E in a report on Wednesday, February 12th. BMO Capital Markets increased their target price on shares of PG&E from $21.00 to $23.00 and gave the stock an “outperform” rating in a report on Tuesday. Mizuho boosted their price target on shares of PG&E from $24.00 to $26.00 and gave the company an “outperform” rating in a report on Wednesday, November 27th. Finally, Guggenheim cut shares of PG&E from a “buy” rating to a “neutral” rating in a research report on Tuesday. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating and ten have assigned a buy rating to the company. According to MarketBeat, PG&E presently has an average rating of “Moderate Buy” and a consensus price target of $22.23.

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.