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

PG&E Co. (NYSE:PCG) declared a quarterly dividend on Friday, September 20th, NASDAQ reports. Investors of record on Monday, September 30th will be paid a dividend of 0.01 per share by the utilities provider on Tuesday, October 15th. This represents a $0.04 dividend on an annualized basis and a yield of 0.20%. The ex-dividend date of this dividend is Monday, September 30th.

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

NYSE:PCG opened at $20.08 on Friday. The firm’s fifty day simple moving average is $18.82 and its 200-day simple moving average is $17.86. The company has a quick ratio of 0.86, a current ratio of 0.90 and a debt-to-equity ratio of 1.99. The stock has a market cap of $57.82 billion, a PE ratio of 17.93, a price-to-earnings-growth ratio of 1.53 and a beta of 1.01. PG&E has a fifty-two week low of $14.71 and a fifty-two week high of $20.65.

PG&E (NYSE:PCG) last issued its earnings results on Thursday, July 25th. The utilities provider reported $0.31 earnings per share for the quarter, topping the consensus estimate of $0.30 by $0.01. PG&E had a net margin of 10.22% and a return on equity of 11.76%. The company had revenue of $5.99 billion for the quarter, compared to analyst estimates of $5.86 billion. During the same period in the prior year, the business posted $0.23 earnings per share. The firm’s revenue for the quarter was up 13.2% compared to the same quarter last year. Analysts expect that PG&E will post 1.36 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of analysts have commented on the company. Bank of America began coverage on PG&E in a research report on Thursday, September 12th. They set a “buy” rating and a $24.00 target price on the stock. JPMorgan Chase & Co. raised shares of PG&E from a “neutral” rating to an “overweight” rating and increased their price objective for the company from $19.00 to $22.00 in a research note on Monday, June 10th. Citigroup lifted their target price on shares of PG&E from $19.00 to $21.00 and gave the stock a “buy” rating in a research report on Friday, June 14th. Morgan Stanley lifted their price objective on PG&E from $18.00 to $19.00 and gave the stock an “equal weight” rating in a research report on Friday, August 23rd. Finally, UBS Group increased their target price on PG&E from $24.00 to $26.00 and gave the company a “buy” rating in a report on Tuesday, September 3rd. Three research analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $21.45.

Insider Buying and Selling

In other news, VP Stephanie N. Williams sold 38,601 shares of the company’s stock in a transaction dated Thursday, August 15th. The shares were sold at an average price of $18.32, for a total transaction of $707,170.32. Following the completion of the transaction, the vice president now owns 19,114 shares of the company’s stock, valued at approximately $350,168.48. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. 0.15% of the stock is currently owned by company 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.