PG&E (NYSE:PCG) Posts Quarterly Earnings Results, Hits Expectations

PG&E (NYSE:PCG - Get Free Report) posted its quarterly earnings data on Thursday. The utilities provider reported $0.31 earnings per share for the quarter, hitting the consensus estimate of $0.31, RTT News reports. The business had revenue of $6.63 billion during the quarter, compared to analysts' expectations of $7.29 billion. PG&E had a return on equity of 12.51% and a net margin of 11.11%. During the same quarter in the previous year, the firm earned $0.47 EPS.

PG&E Price Performance

Shares of PCG traded down $0.56 during mid-day trading on Monday, reaching $15.30. The company had a trading volume of 28,221,341 shares, compared to its average volume of 32,168,314. The company has a debt-to-equity ratio of 2.02, a current ratio of 1.04 and a quick ratio of 0.99. The company has a market capitalization of $40.00 billion, a P/E ratio of 11.95, a P/E/G ratio of 1.09 and a beta of 0.99. PG&E has a twelve month low of $14.99 and a twelve month high of $21.72. The company's 50-day moving average is $17.93 and its 200-day moving average is $19.21.

Insider Activity at PG&E

In related news, CEO Patricia K. Poppe sold 55,555 shares of PG&E 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 completion of the transaction, 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 sale was disclosed in a document filed with the SEC, which is available at this hyperlink. 0.15% of the stock is owned by insiders.

Analysts Set New Price Targets

PCG has been the topic of a number of research reports. Barclays dropped their target price on shares of PG&E from $24.00 to $23.00 and set an "overweight" rating on the stock in a research report on Monday, January 27th. Morgan Stanley lowered shares of PG&E from an "equal weight" rating to an "underweight" rating and cut their price objective for the company from $20.00 to $16.50 in a research report on Friday. Mizuho increased their target price 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. UBS Group lowered their price target on PG&E from $24.00 to $22.00 and set a "buy" rating on the stock in a research note on Thursday, January 30th. Finally, JPMorgan Chase & Co. reaffirmed an "overweight" rating and issued a $22.00 price target on shares of PG&E in a report on Wednesday, February 12th. One analyst has rated the stock with a sell rating and ten have assigned a buy rating to the company's stock. Based on data from MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus target price of $22.05.

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.