PG&E Co. (NYSE:PCG) to Issue Quarterly Dividend of $0.03

PG&E Co. (NYSE:PCG) declared a quarterly dividend on Friday, February 21st, RTT News reports. Shareholders of record on Monday, March 31st will be paid a dividend of 0.025 per share by the utilities provider on Tuesday, April 15th. This represents a $0.10 annualized dividend and a yield of 0.63%.

PG&E has a payout ratio of 6.1% meaning its dividend is sufficiently covered by earnings. Research analysts expect PG&E to earn $1.63 per share next year, which means the company should continue to be able to cover its $0.10 annual dividend with an expected future payout ratio of 6.1%.

PG&E Stock Performance

Shares of NYSE PCG opened at $15.94 on Friday. The company has a market cap of $42.57 billion, a P/E ratio of 13.86, a P/E/G ratio of 1.09 and a beta of 0.99. The company has a quick ratio of 1.00, a current ratio of 1.05 and a debt-to-equity ratio of 1.86. PG&E has a 12 month low of $14.99 and a 12 month high of $21.72. The business’s 50 day moving average is $17.50 and its two-hundred day moving average is $19.11.

PG&E (NYSE:PCG) last released its quarterly earnings data on Thursday, February 13th. The utilities provider reported $0.31 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.31. The business had revenue of $6.63 billion for the quarter, compared to analysts’ expectations of $7.29 billion. PG&E had a return on equity of 10.94% and a net margin of 10.27%. During the same period in the previous year, the business posted $0.47 earnings per share. On average, equities analysts expect that PG&E will post 1.49 EPS for the current year.

Insiders Place Their Bets

In other PG&E news, Director Arno Lockheart Harris acquired 6,389 shares of PG&E stock in a transaction on Thursday, February 20th. The shares were bought at an average price of $15.66 per share, with a total value of $100,051.74. Following the completion of the purchase, the director now owns 14,864 shares in the company, valued at $232,770.24. This trade represents a 75.39 % increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, CEO Patricia K. Poppe sold 55,555 shares of the business’s stock in a transaction on 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 completion of the transaction, the chief executive officer now directly owns 1,460,222 shares in the company, valued at approximately $30,168,186.52. This represents a 3.67 % decrease in their position. The disclosure for this sale can be found here. Insiders own 0.15% of the company’s stock.

Analyst Ratings Changes

A number of analysts have recently issued reports on PCG shares. Barclays lowered their price objective on PG&E from $24.00 to $23.00 and set an “overweight” rating on the stock in a research report on Monday, January 27th. JPMorgan Chase & Co. restated an “overweight” rating and set a $22.00 price objective on shares of PG&E in a research report on Wednesday, February 12th. BMO Capital Markets boosted their price objective on PG&E from $21.00 to $23.00 and gave the company an “outperform” rating in a research report on Tuesday, February 18th. Guggenheim cut PG&E from a “buy” rating to a “neutral” rating in a research report on Tuesday, February 18th. Finally, UBS Group lowered their price target on PG&E from $24.00 to $22.00 and set a “buy” rating on the stock in a research report on Thursday, January 30th. One analyst has rated the stock with a sell rating, one has issued a hold rating and ten have assigned a buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $22.23.

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.