PG&E Co. (NYSE:PCG) Announces Dividend Increase – $0.03 Per Share

PG&E Co. (NYSE:PCGGet Free Report) announced a quarterly dividend on Saturday, November 2nd,NASDAQ Dividends reports. Shareholders of record on Tuesday, December 31st will be given a dividend of 0.025 per share by the utilities provider on Wednesday, January 15th. This represents a $0.10 annualized dividend and a yield of 0.50%. The ex-dividend date of this dividend is Tuesday, December 31st. This is a positive change from PG&E’s previous quarterly dividend of $0.01.

PG&E has a payout ratio of 6.7% meaning its dividend is sufficiently covered by earnings. Equities research analysts expect PG&E to earn $1.49 per share next year, which means the company should continue to be able to cover its $0.10 annual dividend with an expected future payout ratio of 6.7%.

PG&E Stock Performance

NYSE PCG opened at $20.14 on Friday. 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 firm has a market capitalization of $52.67 billion, a price-to-earnings ratio of 15.73, a P/E/G ratio of 1.51 and a beta of 1.01. The company’s fifty day moving average is $20.49 and its two-hundred day moving average is $19.37. PG&E has a 52-week low of $15.94 and a 52-week high of $21.72.

PG&E (NYSE:PCGGet Free Report) last issued its earnings results on Thursday, November 7th. The utilities provider reported $0.37 earnings per share for the quarter, beating the consensus estimate of $0.32 by $0.05. PG&E had a net margin of 11.11% and a return on equity of 12.51%. The business had revenue of $5.94 billion for the quarter, compared to analyst estimates of $6.58 billion. During the same period in the previous year, the business earned $0.24 EPS. The firm’s revenue was up .9% on a year-over-year basis. Equities research analysts forecast that PG&E will post 1.36 EPS for the current year.

Wall Street Analysts Forecast Growth

Several analysts have recently weighed in on PCG shares. Morgan Stanley lifted their target price on shares of PG&E from $19.00 to $20.00 and gave the company an “equal weight” rating in a research report on Wednesday, September 25th. Bank of America started coverage on shares of PG&E in a research report on Thursday, September 12th. They set a “buy” rating and a $24.00 target price on the stock. Barclays cut their price target on shares of PG&E from $25.00 to $24.00 and set an “overweight” rating for the company in a report on Tuesday, December 17th. UBS Group cut their price target on shares of PG&E from $26.00 to $24.00 and set a “buy” rating for the company in a report on Thursday, December 19th. Finally, Mizuho lifted their price target on shares of PG&E from $24.00 to $26.00 and gave the company an “outperform” rating in a report on Wednesday, November 27th. Two equities research analysts have rated the stock with a hold rating and nine have given a buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $22.80.

Check Out Our Latest Stock Report on PCG

Insiders Place Their Bets

In other news, CEO Patricia K. Poppe sold 55,555 shares of PG&E stock in a transaction that occurred on 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 owns 1,460,222 shares in the company, valued at $30,168,186.52. The trade was a 3.67 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Insiders own 0.15% of the company’s stock.

About PG&E

(Get Free Report)

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.

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Dividend History for PG&E (NYSE:PCG)

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