PG&E (NYSE:PCG) Posts Quarterly Earnings Results

PG&E (NYSE:PCG) issued its earnings results on Thursday. The utilities provider reported $0.31 earnings per share for the quarter, hitting the consensus estimate of $0.31, RTT News reports. PG&E had a return on equity of 12.51% and a net margin of 11.11%. During the same period in the previous year, the business posted $0.47 earnings per share.

PG&E Stock Performance

Shares of PCG stock traded down $0.24 during mid-day trading on Thursday, reaching $15.80. The stock had a trading volume of 11,408,396 shares, compared to its average volume of 28,449,863. The business’s fifty day moving average is $18.12 and its 200-day moving average is $19.24. The company has a current ratio of 1.04, a quick ratio of 0.99 and a debt-to-equity ratio of 2.02. The firm has a market cap of $41.31 billion, a price-to-earnings ratio of 12.34, a PEG ratio of 1.09 and a beta of 0.99. PG&E has a 1-year low of $14.99 and a 1-year high of $21.72.

Insider Activity

In other news, CEO Patricia K. Poppe sold 55,555 shares of the company’s stock in a transaction dated 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 sale, the chief executive officer now owns 1,460,222 shares in the company, valued at $30,168,186.52. This represents a 3.67 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Corporate insiders own 0.15% of the company’s stock.

Analyst Upgrades and Downgrades

PCG has been the subject of a number of analyst reports. BMO Capital Markets initiated coverage on PG&E in a research note on Monday, January 13th. They set an “outperform” rating and a $21.00 price objective for the company. Mizuho upped their price objective on PG&E from $24.00 to $26.00 and gave the stock an “outperform” rating in a research note on Wednesday, November 27th. JPMorgan Chase & Co. restated an “overweight” rating and set a $22.00 price objective on shares of PG&E in a research note on Wednesday. UBS Group decreased their price objective on PG&E from $24.00 to $22.00 and set a “buy” rating for the company in a research note on Thursday, January 30th. Finally, Barclays decreased their price objective on PG&E from $24.00 to $23.00 and set an “overweight” rating for the company in a research note on Monday, January 27th. One equities research analyst has rated the stock with a hold rating and ten have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $22.36.

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.