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

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

PG&E has a dividend payout ratio of 6.1% meaning its dividend is sufficiently covered by earnings. 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 Price Performance

Shares of NYSE PCG traded down $0.11 during mid-day trading on Wednesday, reaching $16.95. The company had a trading volume of 4,304,008 shares, compared to its average volume of 16,429,379. The firm has a market cap of $45.34 billion, a price-to-earnings ratio of 14.73, a PEG ratio of 1.09 and a beta of 0.63. The business's 50-day simple moving average is $17.06 and its 200 day simple moving average is $17.78. PG&E has a one year low of $14.99 and a one year high of $21.72. The company has a debt-to-equity ratio of 1.86, a quick ratio of 1.00 and a current ratio of 1.05.

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

Wall Street Analyst Weigh In

A number of equities research analysts have weighed in on PCG shares. UBS Group downgraded PG&E from a "buy" rating to a "neutral" rating and reduced their target price for the company from $22.00 to $19.00 in a report on Wednesday, March 19th. Evercore ISI upped their price objective on PG&E from $15.00 to $17.00 and gave the stock an "in-line" rating in a research report on Monday, April 28th. Mizuho lifted their target price on PG&E from $20.00 to $21.00 and gave the company an "outperform" rating in a research report on Monday, May 19th. Jefferies Financial Group lifted their price target on shares of PG&E from $20.00 to $22.00 and gave the company a "buy" rating in a report on Wednesday, April 23rd. Finally, Guggenheim increased their price objective on shares of PG&E from $16.00 to $17.00 and gave the company a "neutral" rating in a research note on Friday, April 25th. One research analyst has rated the stock with a sell rating, three have given a hold rating and eight have given a buy rating to the company. Based on data from MarketBeat, PG&E has an average rating of "Moderate Buy" and a consensus price target of $20.75.

Insider Activity

In other news, EVP Carla J. Peterman sold 32,519 shares of the business's stock in a transaction that occurred on Tuesday, April 29th. The shares were sold at an average price of $17.30, for a total value of $562,578.70. Following the sale, the executive vice president now owns 151,116 shares of the company's stock, valued at $2,614,306.80. The trade was a 17.71% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Insiders own 0.14% of the company's stock.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in PCG. Woodline Partners LP boosted its position in shares of 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 grew its holdings in shares of PG&E by 93.0% during the first quarter. Focus Partners Wealth now owns 83,816 shares of the utilities provider's stock worth $1,440,000 after purchasing an additional 40,380 shares in the last quarter. Empowered Funds LLC increased its position in shares of PG&E by 16.4% in the first quarter. Empowered Funds LLC now owns 46,936 shares of the utilities provider's stock worth $806,000 after purchasing an additional 6,601 shares during the last quarter. Finally, Dynamic Technology Lab Private Ltd purchased a new stake in PG&E in the first quarter valued at approximately $203,000. Hedge funds and other institutional investors own 78.56% of the company's stock.

PG&E 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.