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

PG&E Co. (NYSE:PCG) announced a quarterly dividend on Friday, September 20th, NASDAQ reports. Stockholders 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 dividend yield of 0.20%. The ex-dividend date of this dividend is Monday, September 30th.

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

PCG opened at $20.08 on Friday. PG&E has a one year low of $14.71 and a one year high of $20.65. The company has a debt-to-equity ratio of 1.99, a current ratio of 0.90 and a quick ratio of 0.86. The company’s 50 day simple moving average is $18.82 and its 200-day simple moving average is $17.87. The stock has a market capitalization of $57.82 billion, a P/E ratio of 17.93, a price-to-earnings-growth ratio of 1.53 and a beta of 1.01.

PG&E (NYSE:PCG) last released its quarterly earnings results 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 net margin of 10.22% and a return on equity of 11.76%. The business had revenue of $5.99 billion for the quarter, compared to analysts’ expectations of $5.86 billion. During the same period in the prior year, the firm earned $0.23 earnings per share. PG&E’s revenue was up 13.2% compared to the same quarter last year. Sell-side analysts anticipate that PG&E will post 1.36 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

PCG has been the topic of a number of recent research reports. Citigroup raised their price objective on shares of PG&E from $19.00 to $21.00 and gave the company a “buy” rating in a research note on Friday, June 14th. Morgan Stanley raised their price objective on shares of PG&E from $18.00 to $19.00 and gave the company an “equal weight” rating in a research note on Friday, August 23rd. Barclays raised their price objective on shares of PG&E from $22.00 to $23.00 and gave the company an “overweight” rating in a research note on Tuesday, July 30th. JPMorgan Chase & Co. raised shares of PG&E from a “neutral” rating to an “overweight” rating and raised their price objective for the company from $19.00 to $22.00 in a research note on Monday, June 10th. Finally, UBS Group raised their price objective on shares of PG&E from $24.00 to $26.00 and gave the company a “buy” rating in a research note on Tuesday, September 3rd. Three equities research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. According to MarketBeat, PG&E has an average rating of “Moderate Buy” and a consensus target price of $21.45.

Insider Transactions at PG&E

In other news, VP Stephanie N. Williams sold 38,601 shares of PG&E stock in a transaction 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 transaction, the vice president now directly owns 19,114 shares of the company’s stock, valued at $350,168.48. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Insiders own 0.15% of the company’s stock.

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.