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

PG&E Co. (NYSE:PCG - Get Free Report) announced a quarterly dividend on Friday, May 17th, RTT News reports. Investors of record on Friday, June 28th will be given a dividend of 0.01 per share by the utilities provider on Monday, July 15th. This represents a $0.04 dividend on an annualized basis and a yield of 0.22%.

PG&E has a dividend payout ratio of 2.7% indicating that its dividend is sufficiently covered by earnings. Equities research analysts expect PG&E to earn $1.46 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

PCG traded up $0.15 during trading hours on Friday, reaching $18.60. The company's stock had a trading volume of 12,617,126 shares, compared to its average volume of 15,148,429. PG&E has a 52 week low of $14.71 and a 52 week high of $18.62. The company's 50-day moving average is $16.90 and its 200-day moving average is $17.06. The company has a debt-to-equity ratio of 2.08, a quick ratio of 0.93 and a current ratio of 0.99. The firm has a market cap of $53.55 billion, a PE ratio of 16.61 and a beta of 1.26.

PG&E (NYSE:PCG - Get Free Report) last posted its quarterly earnings results on Thursday, April 25th. The utilities provider reported $0.37 earnings per share for the quarter, beating analysts' consensus estimates of $0.35 by $0.02. The business had revenue of $5.86 billion for the quarter, compared to analysts' expectations of $6.60 billion. PG&E had a return on equity of 11.32% and a net margin of 10.05%. The firm's revenue for the quarter was down 5.6% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.29 EPS. On average, equities analysts forecast that PG&E will post 1.35 EPS for the current year.

Insider Activity at PG&E

In related news, CEO Patricia K. Poppe sold 59,000 shares of the firm's stock in a transaction dated Tuesday, April 30th. The stock was sold at an average price of $17.08, for a total value of $1,007,720.00. Following the sale, the chief executive officer now directly owns 1,515,777 shares of the company's stock, valued at $25,889,471.16. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. 0.15% of the stock is currently owned by insiders.

Analysts Set New Price Targets

Several research firms have weighed in on PCG. Barclays increased their price objective on PG&E from $20.00 to $21.00 and gave the stock an "overweight" rating in a research report on Friday, April 26th. JPMorgan Chase & Co. increased their target price on PG&E from $18.00 to $19.00 and gave the stock a "neutral" rating in a report on Tuesday, April 23rd. StockNews.com raised PG&E from a "sell" rating to a "hold" rating in a report on Thursday, February 1st. Mizuho increased their target price on PG&E from $21.00 to $23.00 and gave the stock a "buy" rating in a report on Friday. Finally, The Goldman Sachs Group started coverage on PG&E in a report on Wednesday, April 10th. They set a "buy" rating and a $21.00 target price on the stock. Four investment analysts have rated the stock with a hold rating and four have given a buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $19.44.

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.