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

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

PG&E has a dividend payout ratio of 2.7% indicating that 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 Trading Up 0.8 %

PG&E stock opened at $18.60 on Friday. The firm has a market cap of $53.55 billion, a price-to-earnings ratio of 16.61 and a beta of 1.26. PG&E has a 1 year low of $14.71 and a 1 year high of $18.62. The firm’s 50 day moving average price is $16.90 and its two-hundred day moving average price is $17.06. 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 (NYSE:PCGGet Free Report) last issued its earnings results on Thursday, April 25th. The utilities provider reported $0.37 earnings per share (EPS) for the quarter, topping 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 business had revenue of $5.86 billion for the quarter, compared to analysts’ expectations of $6.60 billion. During the same period in the previous year, the firm posted $0.29 EPS. The company’s quarterly revenue was down 5.6% on a year-over-year basis. On average, research analysts predict that PG&E will post 1.35 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

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

Check Out Our Latest Stock Report on PG&E

Insider Buying and Selling at PG&E

In other news, CEO Patricia K. Poppe sold 59,000 shares of the company’s stock in a transaction dated Tuesday, April 30th. The stock was sold at an average price of $17.08, for a total transaction of $1,007,720.00. Following the completion of the sale, the chief executive officer now owns 1,515,777 shares in the company, valued at approximately $25,889,471.16. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Corporate insiders own 0.15% of the company’s stock.

About PG&E

(Get Free Report)

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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Dividend History for PG&E (NYSE:PCG)

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