PG&E (NYSE:PCG) Announces Quarterly Earnings Results, Meets Estimates

PG&E (NYSE:PCG - Get Free Report) released its quarterly earnings data on Thursday. The utilities provider reported $0.31 EPS for the quarter, meeting analysts' consensus estimates of $0.31, RTT News reports. The business had revenue of $6.63 billion during the quarter, compared to the consensus estimate 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 prior year, the company posted $0.47 earnings per share.

PG&E Stock Down 3.5 %

Shares of NYSE:PCG traded down $0.56 during mid-day trading on Monday, reaching $15.30. 28,221,341 shares of the stock were exchanged, compared to its average volume of 32,168,314. 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 company has a market cap 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 one year low of $14.99 and a one year high of $21.72. The stock's 50 day simple moving average is $17.93 and its 200-day simple moving average is $19.21.

Insider Buying and Selling

In related news, CEO Patricia K. Poppe sold 55,555 shares of the stock in a transaction dated 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 directly owns 1,460,222 shares in the company, valued at approximately $30,168,186.52. This trade represents a 3.67 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.15% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

PCG has been the subject of a number of recent analyst reports. UBS Group dropped their price objective on PG&E from $24.00 to $22.00 and set a "buy" rating for the company in a report on Thursday, January 30th. Barclays dropped their price objective on PG&E from $24.00 to $23.00 and set an "overweight" rating for the company in a report on Monday, January 27th. BMO Capital Markets began coverage on PG&E in a report on Monday, January 13th. They issued an "outperform" rating and a $21.00 price target for the company. Morgan Stanley downgraded PG&E from an "equal weight" rating to an "underweight" rating and lowered their price target for the stock from $20.00 to $16.50 in a report on Friday. Finally, JPMorgan Chase & Co. restated an "overweight" rating and issued a $22.00 price target on shares of PG&E in a report on Wednesday, February 12th. One research analyst has rated the stock with a sell rating and ten have issued a buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus 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.