PG&E (NYSE:PCG) Updates FY 2024 Earnings Guidance

PG&E (NYSE:PCG - Get Free Report) updated its FY 2024 earnings guidance on Thursday. The company provided EPS guidance of 1.340-1.370 for the period, compared to the consensus EPS estimate of 1.360. The company issued revenue guidance of -. PG&E also updated its FY 2025 guidance to 1.470-1.510 EPS.

Wall Street Analysts Forecast Growth

A number of research analysts have commented on the stock. Bank of America initiated coverage on shares of PG&E in a research report on Thursday, September 12th. They issued a "buy" rating and a $24.00 target price on the stock. Barclays increased their price objective 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. Jefferies Financial Group initiated coverage on PG&E in a report on Monday, October 14th. 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, Wells Fargo & Company increased their price target on shares of PG&E from $21.00 to $22.00 and gave the stock an "overweight" rating in a research report on Friday, July 26th. Two investment analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. Based on data from MarketBeat.com, PG&E currently has an average rating of "Moderate Buy" and a consensus price target of $22.80.

PG&E Trading Up 0.4 %

PCG stock traded up $0.08 during midday trading on Thursday, hitting $20.33. The stock had a trading volume of 9,176,126 shares, compared to its average volume of 13,782,585. PG&E has a 12-month low of $15.94 and a 12-month high of $20.93. The firm has a market cap of $53.17 billion, a PE ratio of 17.31, a price-to-earnings-growth ratio of 1.53 and a beta of 1.03. The company's 50-day moving average price is $19.99 and its 200 day moving average price 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 Dividend Announcement

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

Insider Activity at PG&E

In related news, VP Stephanie N. Williams sold 38,601 shares of the stock in a transaction that occurred on Thursday, August 15th. The shares were sold at an average price of $18.32, for a total transaction of $707,170.32. Following the completion of the sale, the vice president now owns 19,114 shares of the company's stock, valued at approximately $350,168.48. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.15% of the stock is owned by insiders.

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.