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

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) declared a quarterly dividend on Friday, September 19th, RTT News reports. Stockholders of record on Tuesday, September 30th will be paid a dividend of 0.025 per share by the utilities provider on Wednesday, October 15th. This represents a c) annualized dividend and a dividend yield of 0.7%. The ex-dividend date is Tuesday, September 30th.

Pacific Gas & Electric has a dividend payout ratio of 6.1% indicating that its dividend is sufficiently covered by earnings. Research 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 Price Performance

PCG stock traded up $0.10 during trading hours on Tuesday, hitting $14.77. 7,127,538 shares of the stock traded hands, compared to its average volume of 23,847,293. The stock has a 50-day simple moving average of $14.74 and a 200 day simple moving average of $15.62. Pacific Gas & Electric has a one year low of $12.97 and a one year high of $21.72. The company has a market cap of $39.50 billion, a P/E ratio of 13.51, a P/E/G ratio of 1.11 and a beta of 0.57. The company has a current ratio of 0.94, a quick ratio of 0.89 and a debt-to-equity ratio of 1.81.

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

Wall Street Analyst Weigh In

A number of analysts recently commented on PCG shares. Zacks Research upgraded shares of Pacific Gas & Electric from a "strong sell" rating to a "hold" rating in a report on Monday, August 18th. Barclays reduced their price objective on 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. Argus raised Pacific Gas & Electric to a "hold" rating in a research note on Monday, June 16th. Morgan Stanley raised Pacific Gas & Electric from an "underweight" rating to an "equal weight" rating and upped their target price for the company from $19.00 to $20.00 in a report on Thursday, September 18th. Finally, UBS Group cut their price objective on Pacific Gas & Electric from $19.00 to $17.00 and set a "neutral" rating on the stock in a report on Thursday, September 18th. Six research analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company. According to MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $20.20.

Pacific Gas & Electric Company Profile

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.