PG&E (NYSE:PCG – Get Free Report) updated its FY 2024 earnings guidance on Thursday. The company provided EPS guidance of 1.340-1.370 for the period, compared to the consensus EPS estimate of 1.360. The company issued revenue guidance of -. PG&E also updated its FY 2025 guidance to 1.470-1.510 EPS.
Wall Street Analyst Weigh In
Several research firms recently weighed in on PCG. UBS Group upped their price objective on shares of PG&E from $24.00 to $26.00 and gave the stock a “buy” rating in a research report on Tuesday, September 3rd. Bank of America assumed coverage on shares of PG&E in a report on Thursday, September 12th. They set a “buy” rating and a $24.00 price target for the company. Jefferies Financial Group initiated coverage on shares of PG&E in a research note on Monday, October 14th. They issued a “buy” rating and a $24.00 price objective on the stock. Morgan Stanley boosted their price objective on shares of PG&E from $19.00 to $20.00 and gave the company an “equal weight” rating in a research report on Wednesday, September 25th. Finally, Wells Fargo & Company raised their target price on PG&E from $21.00 to $22.00 and gave the company an “overweight” rating in a report on Friday, July 26th. Two investment analysts have rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. Based on data from MarketBeat, PG&E currently has a consensus rating of “Moderate Buy” and an average price target of $22.80.
Get Our Latest Analysis on PCG
PG&E Stock Up 0.1 %
PG&E Announces Dividend
The company also recently declared a quarterly dividend, which was paid on Tuesday, October 15th. Stockholders of record on Monday, September 30th were paid a dividend of $0.01 per share. This represents a $0.04 dividend on an annualized basis and a dividend yield of 0.20%. The ex-dividend date of this dividend was Monday, September 30th. PG&E’s payout ratio is 3.42%.
Insider Activity
In related news, VP Stephanie N. Williams sold 38,601 shares of PG&E stock in a transaction that occurred on Thursday, August 15th. The shares were sold at an average price of $18.32, for a total transaction of $707,170.32. Following the sale, the vice president now directly owns 19,114 shares in the company, valued at $350,168.48. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at 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.
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