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

PG&E (NYSE:PCG) updated its FY 2024 earnings guidance on Thursday. The company provided earnings per share guidance of 1.330-1.370 for the period, compared to the consensus earnings per share estimate of 1.350. The company issued revenue guidance of -.

Analyst Ratings Changes

A number of research analysts recently commented on the company. StockNews.com raised PG&E from a sell rating to a hold rating in a research note on Thursday, February 1st. The Goldman Sachs Group started coverage on PG&E in a research report on Wednesday, April 10th. They issued a buy rating and a $21.00 target price on the stock. JPMorgan Chase & Co. lifted their target price on PG&E from $18.00 to $19.00 and gave the company a neutral rating in a research report on Tuesday. Finally, Barclays decreased their target price on PG&E from $20.00 to $19.00 and set an overweight rating on the stock in a research report on Monday, January 22nd. Four equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of Moderate Buy and a consensus price target of $18.89.

PG&E Stock Performance

NYSE:PCG opened at $17.00 on Thursday. The stock has a market cap of $36.33 billion, a P/E ratio of 16.19 and a beta of 1.32. The company has a current ratio of 0.83, a quick ratio of 0.78 and a debt-to-equity ratio of 2.04. The stock’s 50-day moving average is $16.56 and its 200-day moving average is $16.88. PG&E has a 1-year low of $14.71 and a 1-year high of $18.32.

PG&E (NYSE:PCG) last posted its quarterly earnings data on Thursday, February 22nd. The utilities provider reported $0.47 EPS for the quarter, topping analysts’ consensus estimates of $0.46 by $0.01. The company had revenue of $7.04 billion for the quarter, compared to analyst estimates of $6.43 billion. PG&E had a return on equity of 10.84% and a net margin of 9.24%. During the same period in the previous year, the firm earned $0.26 earnings per share. Equities research analysts anticipate that PG&E will post 1.35 earnings per share for the current year.

PG&E Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, April 15th. Shareholders of record on Thursday, March 28th were paid a $0.01 dividend. This represents a $0.04 annualized dividend and a yield of 0.24%. The ex-dividend date of this dividend was Wednesday, March 27th. PG&E’s dividend payout ratio (DPR) is presently 3.81%.

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.