Zacks Research Comments on PG&E's FY2024 Earnings (NYSE:PCG)

PG&E Co. (NYSE:PCG - Free Report) - Equities researchers at Zacks Research raised their FY2024 earnings per share (EPS) estimates for shares of PG&E in a research report issued on Thursday, November 28th. Zacks Research analyst A. Dutta now expects that the utilities provider will post earnings of $1.36 per share for the year, up from their prior forecast of $1.35. The consensus estimate for PG&E's current full-year earnings is $1.36 per share. Zacks Research also issued estimates for PG&E's Q4 2024 earnings at $0.31 EPS, Q3 2025 earnings at $0.36 EPS, FY2025 earnings at $1.49 EPS, Q1 2026 earnings at $0.37 EPS, Q2 2026 earnings at $0.36 EPS, Q3 2026 earnings at $0.37 EPS and FY2026 earnings at $1.63 EPS.

PG&E (NYSE:PCG - Get Free Report) last released its quarterly earnings data on Thursday, November 7th. The utilities provider reported $0.37 EPS for the quarter, topping the consensus estimate of $0.32 by $0.05. PG&E had a return on equity of 12.51% and a net margin of 11.11%. The firm had revenue of $5.94 billion for the quarter, compared to the consensus estimate of $6.58 billion. During the same quarter in the previous year, the business earned $0.24 earnings per share. The company's quarterly revenue was up .9% on a year-over-year basis.

A number of other equities research analysts have also issued reports on the stock. Morgan Stanley raised their price target on shares of PG&E from $19.00 to $20.00 and gave the stock an "equal weight" rating in a report on Wednesday, September 25th. Bank of America started coverage on PG&E in a research note on Thursday, September 12th. They issued a "buy" rating and a $24.00 target price on the stock. Mizuho upped their price target on PG&E from $24.00 to $26.00 and gave the company an "outperform" rating in a research report on Wednesday, November 27th. Jefferies Financial Group initiated coverage on PG&E in a research report on Monday, October 14th. They issued a "buy" rating and a $24.00 price objective on the stock. Finally, UBS Group upped their target price on PG&E from $24.00 to $26.00 and gave the company a "buy" rating in a report on Tuesday, September 3rd. 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, the stock currently has an average rating of "Moderate Buy" and an average target price of $23.10.

PG&E Trading Down 5.0 %

Shares of PG&E stock traded down $1.07 on Monday, hitting $20.56. The stock had a trading volume of 53,332,950 shares, compared to its average volume of 13,954,567. The company has a quick ratio of 0.99, a current ratio of 1.04 and a debt-to-equity ratio of 2.02. PG&E has a one year low of $15.94 and a one year high of $21.72. The stock's 50-day simple moving average is $20.45 and its two-hundred day simple moving average is $19.16. The stock has a market cap of $53.76 billion, a price-to-earnings ratio of 16.06, a PEG ratio of 1.66 and a beta of 1.03.

PG&E Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, October 15th. Investors of record on Monday, September 30th were paid a $0.01 dividend. The ex-dividend date was Monday, September 30th. This represents a $0.04 annualized dividend and a dividend yield of 0.19%. PG&E's payout ratio is 3.13%.

Insider Buying and Selling

In other PG&E news, CEO Patricia K. Poppe sold 55,555 shares of the firm's 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 sale, 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 position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.15% of the stock is owned by company insiders.

Hedge Funds Weigh In On PG&E

Several hedge funds and other institutional investors have recently bought and sold shares of PCG. Franklin Resources Inc. increased its stake in shares of PG&E by 4.1% in the 3rd quarter. Franklin Resources Inc. now owns 17,116,725 shares of the utilities provider's stock worth $346,443,000 after purchasing an additional 681,369 shares in the last quarter. Tidal Investments LLC grew its holdings in PG&E by 4.7% during the third quarter. Tidal Investments LLC now owns 55,938 shares of the utilities provider's stock valued at $1,106,000 after purchasing an additional 2,527 shares during the period. Wilmington Savings Fund Society FSB purchased a new stake in PG&E in the third quarter worth about $349,000. Sanctuary Advisors LLC raised its stake in shares of PG&E by 21.7% in the third quarter. Sanctuary Advisors LLC now owns 87,919 shares of the utilities provider's stock worth $1,879,000 after buying an additional 15,648 shares during the period. Finally, TD Private Client Wealth LLC lifted its position in shares of PG&E by 34.5% during the 3rd quarter. TD Private Client Wealth LLC now owns 35,255 shares of the utilities provider's stock valued at $697,000 after buying an additional 9,043 shares in the last quarter. Institutional investors own 78.56% 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.