PG&E Co. (PCG) to Issue Quarterly Dividend of $0.01 on October 15th

PG&E Co. (NYSE:PCG) announced a quarterly dividend on Friday, September 20th, NASDAQ reports. Investors of record on Monday, September 30th will be given a dividend of 0.01 per share by the utilities provider on Tuesday, October 15th. This represents a $0.04 annualized dividend and a dividend yield of 0.20%. The ex-dividend date is Monday, September 30th.

PG&E has a payout ratio of 2.7% indicating that its dividend is sufficiently covered by earnings. Equities analysts expect PG&E to earn $1.47 per share next year, which means the company should continue to be able to cover its $0.04 annual dividend with an expected future payout ratio of 2.7%.

PG&E Stock Up 2.4 %

PG&E stock opened at $20.08 on Friday. The firm has a market cap of $57.82 billion, a price-to-earnings ratio of 17.93, a P/E/G ratio of 1.53 and a beta of 1.01. The company has a debt-to-equity ratio of 1.99, a current ratio of 0.90 and a quick ratio of 0.86. PG&E has a fifty-two week low of $14.71 and a fifty-two week high of $20.65. The firm has a fifty day moving average price of $18.82 and a two-hundred day moving average price of $17.87.

PG&E (NYSE:PCG) last posted its quarterly earnings data on Thursday, July 25th. The utilities provider reported $0.31 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.30 by $0.01. PG&E had a net margin of 10.22% and a return on equity of 11.76%. The company had revenue of $5.99 billion for the quarter, compared to the consensus estimate of $5.86 billion. During the same quarter in the previous year, the firm posted $0.23 EPS. The business’s revenue was up 13.2% compared to the same quarter last year. As a group, analysts forecast that PG&E will post 1.36 earnings per share for the current year.

Insiders Place Their Bets

In other news, VP Stephanie N. Williams sold 38,601 shares of the firm’s stock in a transaction that occurred on Thursday, August 15th. The shares were sold at an average price of $18.32, for a total transaction of $707,170.32. Following the completion of the sale, the vice president now owns 19,114 shares of the company’s stock, valued at $350,168.48. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Insiders own 0.15% of the company’s stock.

Wall Street Analyst Weigh In

PCG has been the topic of several research reports. Wells Fargo & Company boosted their price objective on shares of PG&E from $21.00 to $22.00 and gave the stock an “overweight” rating in a report on Friday, July 26th. Citigroup boosted their price objective on shares of PG&E from $19.00 to $21.00 and gave the stock a “buy” rating in a report on Friday, June 14th. JPMorgan Chase & Co. upgraded shares of PG&E from a “neutral” rating to an “overweight” rating and boosted their price objective for the stock from $19.00 to $22.00 in a report on Monday, June 10th. Bank of America assumed coverage on shares of PG&E in a report on Thursday, September 12th. They set a “buy” rating and a $24.00 price objective on the stock. Finally, Barclays upped their target price on shares of PG&E from $22.00 to $23.00 and gave the company an “overweight” rating in a research note on Tuesday, July 30th. Three investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, PG&E presently has a consensus rating of “Moderate Buy” and an average target price of $21.45.

About PG&E

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.