Brokers Offer Predictions for PG&E Co.’s FY2024 Earnings (NYSE:PCG)

PG&E Co. (NYSE:PCG) – Equities researchers at Seaport Res Ptn lifted their FY2024 EPS estimates for PG&E in a research report issued to clients and investors on Wednesday, April 24th. Seaport Res Ptn analyst A. Storozynski now expects that the utilities provider will earn $1.37 per share for the year, up from their previous estimate of $1.36. The consensus estimate for PG&E’s current full-year earnings is $1.35 per share. Seaport Res Ptn also issued estimates for PG&E’s FY2026 earnings at $1.62 EPS.

PCG has been the topic of a number of other research reports. JPMorgan Chase & Co. raised their price target on PG&E from $18.00 to $19.00 and gave the stock a “neutral” rating in a research report on Tuesday. StockNews.com upgraded PG&E from a “sell” rating to a “hold” rating in a research report on Thursday, February 1st. The Goldman Sachs Group started coverage on shares of PG&E in a research note on Wednesday, April 10th. They set a “buy” rating and a $21.00 target price for the company. Finally, Barclays lowered their price objective on PG&E from $20.00 to $19.00 and set an “overweight” rating for the company in a research report on Monday, January 22nd. Four research analysts have rated the stock with a hold rating and four have issued a buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $18.89.

PG&E Trading Up 0.2 %

PCG stock opened at $17.10 on Friday. The stock has a market cap of $36.54 billion, a price-to-earnings ratio of 16.25 and a beta of 1.32. The company has a fifty day moving average price of $16.57 and a two-hundred day moving average price of $16.88. PG&E has a one year low of $14.71 and a one year high of $18.32. The company has a debt-to-equity ratio of 2.04, a current ratio of 0.83 and a quick ratio of 0.78.

PG&E (NYSE:PCG) last issued its earnings results on Thursday, April 25th. The utilities provider reported $0.37 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.35 by $0.02. PG&E had a net margin of 9.24% and a return on equity of 10.84%. The company had revenue of $5.86 billion for the quarter, compared to analysts’ expectations of $6.60 billion. During the same period in the prior year, the firm earned $0.29 EPS. PG&E’s quarterly revenue was down 5.6% compared to the same quarter last year.

Hedge Funds Weigh In On PG&E

A number of hedge funds and other institutional investors have recently modified their holdings of PCG. Planned Solutions Inc. bought a new stake in PG&E in the fourth quarter worth about $37,000. Vima LLC purchased a new position in PG&E in the fourth quarter valued at approximately $41,000. CVA Family Office LLC bought a new position in PG&E during the fourth quarter valued at $43,000. Millburn Ridgefield Corp purchased a new stake in PG&E in the third quarter worth $44,000. Finally, Catalyst Capital Advisors LLC purchased a new position in shares of PG&E during the 3rd quarter valued at $44,000. Hedge funds and other institutional investors own 78.56% of the company’s stock.

PG&E Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, April 15th. Shareholders of record on Thursday, March 28th were paid a $0.01 dividend. The ex-dividend date of this dividend was Wednesday, March 27th. This represents a $0.04 annualized dividend and a yield of 0.23%. PG&E’s dividend payout ratio (DPR) is 3.81%.

About PG&E

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.