PG&E Co. (PCG) to Issue Quarterly Dividend of $0.03 on January 15th

PG&E Co. (NYSE:PCG) announced a quarterly dividend on Saturday, November 2nd,NASDAQ Dividends reports. Stockholders of record on Tuesday, December 31st will be paid a dividend of 0.025 per share by the utilities provider on Wednesday, January 15th. This represents a $0.10 dividend on an annualized basis and a dividend yield of 0.50%. The ex-dividend date of this dividend is Tuesday, December 31st. This is a boost from PG&E’s previous quarterly dividend of $0.01.

PG&E has a payout ratio of 6.7% meaning its dividend is sufficiently covered by earnings. Equities analysts expect PG&E to earn $1.49 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 6.7%.

PG&E Price Performance

PCG stock traded down $0.07 during mid-day trading on Friday, reaching $20.14. The company’s stock had a trading volume of 10,354,215 shares, compared to its average volume of 14,302,234. The stock has a market cap of $52.67 billion, a PE ratio of 15.73, a P/E/G ratio of 1.51 and a beta of 1.01. The company’s 50 day moving average is $20.49 and its two-hundred day moving average is $19.37. PG&E has a fifty-two week low of $15.94 and a fifty-two week high of $21.72. The company has a current ratio of 1.04, a quick ratio of 0.99 and a debt-to-equity ratio of 2.02.

PG&E (NYSE:PCG) last announced its quarterly earnings data on Thursday, November 7th. The utilities provider reported $0.37 EPS for the quarter, topping analysts’ consensus estimates of $0.32 by $0.05. The firm had revenue of $5.94 billion for the quarter, compared to the consensus estimate of $6.58 billion. PG&E had a return on equity of 12.51% and a net margin of 11.11%. The firm’s revenue was up .9% compared to the same quarter last year. During the same quarter last year, the business posted $0.24 earnings per share. Equities research analysts expect that PG&E will post 1.36 EPS for the current year.

Insider Transactions at PG&E

In other news, CEO Patricia K. Poppe sold 55,555 shares of PG&E stock in a transaction on Monday, December 2nd. The stock was sold at an average price of $20.66, for a total transaction of $1,147,766.30. Following the completion of the transaction, the chief executive officer now owns 1,460,222 shares of the company’s stock, valued at $30,168,186.52. The trade was a 3.67 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Corporate insiders own 0.15% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts have recently weighed in on the company. Jefferies Financial Group started coverage on PG&E in a research report on Monday, October 14th. They set a “buy” rating and a $24.00 price objective on the stock. Morgan Stanley upped their target price on shares of PG&E from $19.00 to $20.00 and gave the company an “equal weight” rating in a report on Wednesday, September 25th. UBS Group cut their price target on PG&E from $26.00 to $24.00 and set a “buy” rating for the company in a research note on Thursday, December 19th. Bank of America assumed coverage on shares of PG&E in a research note on Thursday, September 12th. They issued a “buy” rating and a $24.00 price objective on the stock. Finally, Mizuho raised their target price on shares of PG&E from $24.00 to $26.00 and gave the stock an “outperform” rating in a research note on Wednesday, November 27th. Two equities research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, PG&E has an average rating of “Moderate Buy” and an average target price of $22.80.

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.