PG&E Co. (NYSE:PCG) Announces Quarterly Dividend of $0.03

PG&E Co. (NYSE:PCG) declared 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 dividend on an annualized basis and a yield of 0.50%. The ex-dividend date is Tuesday, December 31st. This is a boost from PG&E’s previous quarterly dividend of $0.01.

PG&E has a dividend payout ratio of 6.7% indicating that 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 50-day moving average of $20.49 and a two-hundred day moving average of $19.37. The stock has a market cap of $52.67 billion, a P/E ratio of 15.73, a PEG ratio of 1.51 and a beta of 1.01. PG&E has a 1-year low of $15.94 and a 1-year high of $21.72.

PG&E (NYSE:PCG) last posted its quarterly earnings data on Thursday, November 7th. The utilities provider reported $0.37 earnings per share for the quarter, beating analysts’ consensus estimates of $0.32 by $0.05. The company had revenue of $5.94 billion during the quarter, compared to analysts’ expectations of $6.58 billion. PG&E had a net margin of 11.11% and a return on equity of 12.51%. The firm’s revenue for the quarter was up .9% on a year-over-year basis. During the same period in the prior year, the company posted $0.24 EPS. On average, research analysts expect that PG&E will post 1.36 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on PCG. Morgan Stanley upped 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 note on Wednesday, September 25th. Barclays cut their target price on shares of PG&E from $25.00 to $24.00 and set an “overweight” rating on the stock in a research note on Tuesday, December 17th. Mizuho upped their target price on shares of PG&E from $24.00 to $26.00 and gave the company an “outperform” rating in a research note on Wednesday, November 27th. UBS Group cut their target price on shares of PG&E from $26.00 to $24.00 and set a “buy” rating on the stock in a research note on Thursday, December 19th. Finally, Bank of America began coverage on shares of PG&E in a research note on Thursday, September 12th. They issued a “buy” rating and a $24.00 target price on the stock. 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, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $22.80.

Insider Activity at PG&E

In other PG&E news, CEO Patricia K. Poppe sold 55,555 shares of the stock in a transaction that occurred on Monday, December 2nd. The shares were sold at an average price of $20.66, for a total value 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. This represents a 3.67 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.15% of the stock is owned by insiders.

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.