What is Zacks Research’s Estimate for PG&E FY2024 Earnings?

PG&E Co. (NYSE:PCG) – Investment analysts at Zacks Research increased their FY2024 earnings per share estimates for PG&E in a research note issued on Thursday, November 28th. Zacks Research analyst A. Dutta now anticipates that the utilities provider will post earnings per share of $1.36 for the year, up from their previous estimate of $1.35. The consensus estimate for PG&E’s current full-year earnings is $1.36 per share. Zacks Research also issued estimates for PG&E’s Q4 2024 earnings at $0.31 EPS, Q3 2025 earnings at $0.36 EPS, FY2025 earnings at $1.49 EPS, Q1 2026 earnings at $0.37 EPS, Q2 2026 earnings at $0.36 EPS, Q3 2026 earnings at $0.37 EPS and FY2026 earnings at $1.63 EPS.

Other equities research analysts also recently issued reports about the stock. Mizuho boosted their price target on shares of PG&E from $24.00 to $26.00 and gave the company an “outperform” rating in a research note on Wednesday, November 27th. Morgan Stanley raised their price target on PG&E from $19.00 to $20.00 and gave the stock an “equal weight” rating in a research report on Wednesday, September 25th. Bank of America initiated coverage on PG&E in a report on Thursday, September 12th. They issued a “buy” rating and a $24.00 price objective on the stock. UBS Group lifted their target price on PG&E from $24.00 to $26.00 and gave the company a “buy” rating in a research report on Tuesday, September 3rd. Finally, Barclays increased their price target on shares of PG&E from $24.00 to $25.00 and gave the stock an “overweight” rating in a research report on Monday, October 21st. Two equities research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $23.10.

PG&E Stock Up 1.5 %

NYSE PCG opened at $20.85 on Monday. The business’s fifty day simple moving average is $20.47 and its 200-day simple moving average is $19.17. The company has a quick ratio of 0.99, a current ratio of 1.04 and a debt-to-equity ratio of 2.02. The firm has a market cap of $54.53 billion, a PE ratio of 16.29, a P/E/G ratio of 1.57 and a beta of 1.01. PG&E has a 52 week low of $15.94 and a 52 week high of $21.72.

PG&E (NYSE:PCG) last posted its quarterly earnings data on Thursday, November 7th. The utilities provider reported $0.37 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.32 by $0.05. PG&E had a return on equity of 12.51% and a net margin of 11.11%. The company had revenue of $5.94 billion for the quarter, compared to analysts’ expectations of $6.58 billion. PG&E’s revenue was up .9% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.24 EPS.

Institutional Trading of PG&E

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Janus Henderson Group PLC boosted its holdings in shares of PG&E by 8.6% in the 1st quarter. Janus Henderson Group PLC now owns 271,703 shares of the utilities provider’s stock valued at $4,550,000 after purchasing an additional 21,483 shares during the last quarter. Cetera Advisors LLC acquired a new position in PG&E in the first quarter valued at $503,000. Transcend Capital Advisors LLC grew its position in PG&E by 6.9% during the second quarter. Transcend Capital Advisors LLC now owns 17,188 shares of the utilities provider’s stock valued at $300,000 after acquiring an additional 1,116 shares during the period. GAMMA Investing LLC increased its stake in PG&E by 101.6% during the second quarter. GAMMA Investing LLC now owns 14,197 shares of the utilities provider’s stock worth $248,000 after acquiring an additional 7,154 shares during the last quarter. Finally, Massmutual Trust Co. FSB ADV raised its holdings in shares of PG&E by 48.8% in the 2nd quarter. Massmutual Trust Co. FSB ADV now owns 3,596 shares of the utilities provider’s stock worth $63,000 after purchasing an additional 1,179 shares during the period. Hedge funds and other institutional investors own 78.56% of the company’s stock.

Insiders Place Their Bets

In other PG&E news, CEO Patricia K. Poppe sold 55,555 shares of the firm’s stock in a transaction dated Monday, December 2nd. The shares were sold at an average price of $20.66, for a total transaction of $1,147,766.30. Following the sale, the chief executive officer now directly owns 1,460,222 shares of the company’s stock, valued at $30,168,186.52. This trade represents a 3.67 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 0.15% of the stock is currently owned by company insiders.

PG&E Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, January 15th. Stockholders of record on Tuesday, December 31st will be paid a dividend of $0.025 per share. This represents a $0.10 annualized dividend and a dividend yield of 0.48%. The ex-dividend date of this dividend is Tuesday, December 31st. This is an increase from PG&E’s previous quarterly dividend of $0.01. PG&E’s payout ratio is 3.13%.

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.