PG&E Co. (NYSE:PCG) Declares $0.03 Quarterly Dividend

PG&E Co. (NYSE:PCG - Get Free Report) declared a quarterly dividend on Friday, May 23rd, RTT News reports. Stockholders of record on Monday, June 30th will be given a dividend of 0.025 per share by the utilities provider on Tuesday, July 15th. This represents a $0.10 dividend on an annualized basis and a dividend yield of 0.59%.

PG&E has a payout ratio of 6.1% meaning its dividend is sufficiently covered by earnings. Equities 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 Trading Down 1.9%

Shares of PG&E stock opened at $17.07 on Friday. The company's 50-day moving average price is $17.07 and its 200-day moving average price is $17.87. The company has a current ratio of 1.05, a quick ratio of 1.00 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 company has a market cap of $45.67 billion, a price-to-earnings ratio of 14.84, a PEG ratio of 1.09 and a beta of 0.63.

PG&E (NYSE:PCG - Get Free Report) last posted its earnings results on Thursday, April 24th. The utilities provider reported $0.33 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.35 by ($0.02). PG&E had a return on equity of 10.94% and a net margin of 10.27%. The firm had revenue of $5.98 billion during the quarter, compared to analysts' expectations of $6.23 billion. During the same quarter in the prior year, the company earned $0.37 earnings per share. The business's revenue for the quarter was up 2.1% compared to the same quarter last year. On average, equities analysts expect that PG&E will post 1.49 earnings per share for the current fiscal year.

Insider Activity

In other PG&E news, EVP Carla J. Peterman sold 32,521 shares of the business's stock in a transaction on Tuesday, March 4th. The shares were sold at an average price of $16.37, for a total transaction of $532,368.77. Following the completion of the sale, the executive vice president now directly owns 183,635 shares in the company, valued at approximately $3,006,104.95. The trade was a 15.05% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 0.15% of the company's stock.

Institutional Trading of PG&E

Several large investors have recently modified their holdings of the company. Woodline Partners LP lifted its holdings in PG&E by 41.2% in the first quarter. Woodline Partners LP now owns 185,324 shares of the utilities provider's stock valued at $3,184,000 after acquiring an additional 54,033 shares during the period. Focus Partners Wealth increased its position in shares of PG&E by 93.0% during the 1st quarter. Focus Partners Wealth now owns 83,816 shares of the utilities provider's stock valued at $1,440,000 after purchasing an additional 40,380 shares during the last quarter. Empowered Funds LLC increased its position in shares of PG&E by 16.4% during the 1st quarter. Empowered Funds LLC now owns 46,936 shares of the utilities provider's stock valued at $806,000 after purchasing an additional 6,601 shares during the last quarter. Finally, Dynamic Technology Lab Private Ltd bought a new position in shares of PG&E in the 1st quarter worth approximately $203,000. Institutional investors own 78.56% of the company's stock.

Wall Street Analyst Weigh In

Several brokerages have issued reports on PCG. Morgan Stanley set a $18.00 target price on shares of PG&E and gave the company an "underweight" rating in a research report on Thursday. Guggenheim increased their target price on PG&E from $16.00 to $17.00 and gave the company a "neutral" rating in a research note on Friday, April 25th. Wells Fargo & Company restated an "overweight" rating and set a $24.00 price target on shares of PG&E in a research report on Friday, April 25th. Barclays cut their price objective on PG&E from $23.00 to $22.00 and set an "overweight" rating for the company in a report on Wednesday, April 9th. Finally, JPMorgan Chase & Co. restated an "overweight" rating and issued a $22.00 target price on shares of PG&E in a research report on Wednesday, February 12th. One analyst has rated the stock with a sell rating, three have assigned a hold rating and eight have assigned a buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus target price of $20.75.

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.

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