PG&E (NYSE:PCG) Issues FY24 Earnings Guidance

PG&E (NYSE:PCG - Get Free Report) issued an update on its FY24 earnings guidance on Thursday morning. The company provided earnings per share (EPS) guidance of $1.34-1.37 for the period, compared to the consensus estimate of $1.36. PG&E also updated its FY 2024 guidance to 1.340-1.370 EPS.

Analyst Upgrades and Downgrades

PCG has been the topic of several recent research reports. Morgan Stanley increased their price objective on shares of PG&E from $19.00 to $20.00 and gave the stock an "equal weight" rating in a research note on Wednesday, September 25th. Wells Fargo & Company boosted their price objective on shares of PG&E from $21.00 to $22.00 and gave the company an "overweight" rating in a research report on Friday, July 26th. Jefferies Financial Group assumed coverage on PG&E in a report on Monday, October 14th. They issued a "buy" rating and a $24.00 target price on the stock. Bank of America started coverage on PG&E in a research report on Thursday, September 12th. They set a "buy" rating and a $24.00 target price on the stock. Finally, UBS Group upped their price target on PG&E from $24.00 to $26.00 and gave the stock a "buy" rating in a research report on Tuesday, September 3rd. Two analysts have rated the stock with a hold rating and nine have given a buy rating to the company's stock. According to MarketBeat, PG&E currently has a consensus rating of "Moderate Buy" and an average target price of $22.80.

PG&E Price Performance

Shares of NYSE:PCG traded up $0.13 during trading on Thursday, hitting $20.38. 14,357,944 shares of the company's stock were exchanged, compared to its average volume of 13,806,571. The business's 50-day simple moving average is $19.99 and its 200 day simple moving average is $18.70. 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 52-week low of $15.94 and a 52-week high of $20.93. The company has a market cap of $53.30 billion, a price-to-earnings ratio of 17.31, a PEG ratio of 1.53 and a beta of 1.03.

PG&E Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, October 15th. Investors of record on Monday, September 30th were given a dividend of $0.01 per share. The ex-dividend date was Monday, September 30th. This represents a $0.04 dividend on an annualized basis and a dividend yield of 0.20%. PG&E's dividend payout ratio is 3.42%.

Insiders Place Their Bets

In other news, VP Stephanie N. Williams sold 38,601 shares of the firm's stock in a transaction dated Thursday, August 15th. The stock was sold at an average price of $18.32, for a total transaction of $707,170.32. Following the completion of the transaction, the vice president now owns 19,114 shares in the company, valued at $350,168.48. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Corporate insiders own 0.15% of the company's stock.

PG&E Company Profile

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.