Pacific Gas & Electric Co. Plans Quarterly Dividend of $0.03 (NYSE:PCG)

Key Points

• Pacific Gas & Electric Co. declared a quarterly dividend of $0.03, with payment scheduled for October 15th to shareholders of record as of September 30th.
• The company's dividend payout ratio is 6.1%, suggesting earnings sufficiently cover the dividend, and analysts project earnings of $1.63 per share for the upcoming year.
• Pacific Gas & Electric has received mixed ratings from analysts, with a consensus rating of "Moderate Buy" and an average target price of $20.20.

Pacific Gas & Electric Co. (NYSE:PCG - Get Free Report) announced a quarterly dividend on Friday, September 19th, RTT News reports. Stockholders of record on Tuesday, September 30th will be given a dividend of 0.025 per share by the utilities provider on Wednesday, October 15th. This represents a c) dividend on an annualized basis and a dividend yield of 0.7%. The ex-dividend date is Tuesday, September 30th.

Pacific Gas & Electric has a payout ratio of 6.1% indicating that its dividend is sufficiently covered by earnings. Equities analysts expect Pacific Gas & Electric 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%.

Pacific Gas & Electric Stock Down 1.6%

Shares of Pacific Gas & Electric stock traded down $0.24 during midday trading on Monday, hitting $14.67. The company had a trading volume of 22,813,187 shares, compared to its average volume of 23,941,418. The company has a 50 day moving average of $14.71 and a 200 day moving average of $15.63. The stock has a market capitalization of $39.25 billion, a P/E ratio of 13.46, a P/E/G ratio of 1.11 and a beta of 0.57. Pacific Gas & Electric has a 52-week low of $12.97 and a 52-week high of $21.72. The company has a debt-to-equity ratio of 1.81, a quick ratio of 0.89 and a current ratio of 0.94.

Pacific Gas & Electric (NYSE:PCG - Get Free Report) last released its earnings results on Thursday, July 31st. The utilities provider reported $0.31 EPS for the quarter, missing analysts' consensus estimates of $0.33 by ($0.02). The company had revenue of $5.90 billion during the quarter, compared to analysts' expectations of $6.37 billion. Pacific Gas & Electric had a return on equity of 10.13% and a net margin of 9.95%.The company's revenue was down 1.5% on a year-over-year basis. During the same period in the prior year, the company posted $0.31 earnings per share. Pacific Gas & Electric has set its FY 2025 guidance at 1.480-1.520 EPS. On average, equities analysts predict that Pacific Gas & Electric will post 1.49 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several research firms recently weighed in on PCG. Barclays cut their target price on shares of Pacific Gas & Electric from $22.00 to $20.00 and set an "overweight" rating for the company in a research note on Tuesday, July 22nd. Zacks Research upgraded Pacific Gas & Electric from a "strong sell" rating to a "hold" rating in a research report on Monday, August 18th. Argus upgraded Pacific Gas & Electric to a "hold" rating in a report on Monday, June 16th. Morgan Stanley raised Pacific Gas & Electric from an "underweight" rating to an "equal weight" rating and upped their price objective for the stock from $19.00 to $20.00 in a report on Thursday. Finally, UBS Group lowered their target price on Pacific Gas & Electric from $19.00 to $17.00 and set a "neutral" rating for the company in a research report on Thursday. Six equities research analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the stock. According to data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average price target of $20.20.

About Pacific Gas & Electric

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.