PG&E (NYSE:PCG – Get Free Report) announced its quarterly earnings results on Thursday. The utilities provider reported $0.31 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.30 by $0.01, Briefing.com reports. The company had revenue of $5.99 billion during the quarter, compared to the consensus estimate of $5.86 billion. PG&E had a return on equity of 11.91% and a net margin of 10.22%. PG&E’s revenue for the quarter was up 13.2% on a year-over-year basis. During the same period in the previous year, the company posted $0.23 earnings per share. PG&E updated its FY 2024 guidance to 1.330-1.370 EPS and its FY24 guidance to $1.33-1.37 EPS.
PG&E Stock Up 0.1 %
PCG traded up $0.01 on Friday, reaching $18.03. The company’s stock had a trading volume of 10,979,021 shares, compared to its average volume of 11,910,385. The company has a quick ratio of 0.93, a current ratio of 0.99 and a debt-to-equity ratio of 2.08. PG&E has a fifty-two week low of $14.71 and a fifty-two week high of $18.95. The stock has a 50 day moving average of $17.96 and a two-hundred day moving average of $17.24. The company has a market capitalization of $51.91 billion, a price-to-earnings ratio of 16.10 and a beta of 1.08.
PG&E Dividend Announcement
The firm also recently announced a quarterly dividend, which was paid on Monday, July 15th. Stockholders of record on Friday, June 28th were given a dividend of $0.01 per share. This represents a $0.04 annualized dividend and a dividend yield of 0.22%. The ex-dividend date of this dividend was Friday, June 28th. PG&E’s dividend payout ratio (DPR) is presently 3.57%.
Wall Street Analysts Forecast Growth
Get Our Latest Analysis on PG&E
Insiders Place Their Bets
In related news, CEO Patricia K. Poppe sold 59,000 shares of the stock in a transaction on Tuesday, April 30th. The shares were sold at an average price of $17.08, for a total value of $1,007,720.00. Following the transaction, the chief executive officer now directly owns 1,515,777 shares of the company’s stock, valued at approximately $25,889,471.16. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. 0.15% of the stock is owned by corporate insiders.
PG&E Company Profile
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.
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