Analysts Issue Forecasts for PG&E Co.'s Q4 2024 Earnings (NYSE:PCG)

PG&E Co. (NYSE:PCG - Free Report) - Investment analysts at Zacks Research dropped their Q4 2024 earnings per share estimates for shares of PG&E in a research report issued to clients and investors on Thursday, May 16th. Zacks Research analyst A. Dutta now anticipates that the utilities provider will post earnings per share of $0.42 for the quarter, down from their previous forecast of $0.45. The consensus estimate for PG&E's current full-year earnings is $1.35 per share. Zacks Research also issued estimates for PG&E's Q1 2025 earnings at $0.37 EPS, Q2 2025 earnings at $0.36 EPS, Q3 2025 earnings at $0.27 EPS, Q4 2025 earnings at $0.48 EPS and FY2025 earnings at $1.48 EPS.

PG&E (NYSE:PCG - Get Free Report) last announced its quarterly earnings results on Thursday, April 25th. The utilities provider reported $0.37 EPS for the quarter, beating 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 company had revenue of $5.86 billion during the quarter, compared to analysts' expectations of $6.60 billion. During the same period in the prior year, the business posted $0.29 EPS. PG&E's revenue was down 5.6% on a year-over-year basis.

A number of other equities research analysts have also commented on PCG. StockNews.com raised PG&E from a "sell" rating to a "hold" rating in a research report on Thursday, February 1st. JPMorgan Chase & Co. upped their price target on shares of PG&E from $18.00 to $19.00 and gave the company a "neutral" rating in a report on Tuesday, April 23rd. Barclays boosted their price objective on shares of PG&E from $20.00 to $21.00 and gave the company an "overweight" rating in a research report on Friday, April 26th. Mizuho lifted their price target on PG&E from $21.00 to $23.00 and gave the company a "buy" rating in a research note on Friday. Finally, 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 objective for the company. Four investment analysts have rated the stock with a hold rating and four have given a buy rating to the company. According to MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus price target of $19.44.

PG&E Trading Up 0.8 %

Shares of PCG stock traded up $0.15 on Friday, hitting $18.60. The stock had a trading volume of 12,617,079 shares, compared to its average volume of 15,148,429. The firm has a market cap of $53.55 billion, a P/E ratio of 16.47 and a beta of 1.26. PG&E has a twelve month low of $14.71 and a twelve month high of $18.62. The company has a current ratio of 0.99, a quick ratio of 0.93 and a debt-to-equity ratio of 2.08. The company has a fifty day moving average price of $16.86 and a two-hundred day moving average price of $17.05.

Institutional Trading of PG&E

A number of hedge funds have recently made changes to their positions in the business. Axxcess Wealth Management LLC lifted its holdings in PG&E by 3.5% during the 1st quarter. Axxcess Wealth Management LLC now owns 18,217 shares of the utilities provider's stock valued at $305,000 after purchasing an additional 614 shares during the last quarter. Raymond James Trust N.A. lifted its stake in shares of PG&E by 4.2% during the 4th quarter. Raymond James Trust N.A. now owns 17,013 shares of the utilities provider's stock worth $307,000 after buying an additional 680 shares during the last quarter. Bleakley Financial Group LLC boosted its holdings in shares of PG&E by 1.5% during the 4th quarter. Bleakley Financial Group LLC now owns 45,332 shares of the utilities provider's stock worth $817,000 after buying an additional 691 shares during the period. Global Retirement Partners LLC grew its stake in PG&E by 8.0% in the 1st quarter. Global Retirement Partners LLC now owns 9,275 shares of the utilities provider's stock valued at $155,000 after buying an additional 691 shares during the last quarter. Finally, Parallel Advisors LLC grew its stake in PG&E by 2.1% in the 4th quarter. Parallel Advisors LLC now owns 35,427 shares of the utilities provider's stock valued at $639,000 after buying an additional 712 shares during the last quarter. 78.56% of the stock is owned by institutional investors and hedge funds.

Insider Activity at PG&E

In related news, CEO Patricia K. Poppe sold 59,000 shares of the business's stock in a transaction on Tuesday, April 30th. The shares were sold at an average price of $17.08, for a total transaction of $1,007,720.00. Following the transaction, the chief executive officer now directly owns 1,515,777 shares in the company, valued at $25,889,471.16. The sale was disclosed in a filing with the SEC, which is available through this link. Insiders own 0.15% of the company's stock.

PG&E Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, July 15th. Investors of record on Friday, June 28th will be issued a dividend of $0.01 per share. This represents a $0.04 annualized dividend and a yield of 0.22%. PG&E's payout ratio is presently 3.57%.

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.