PG&E (NYSE:PCG) Posts Quarterly Earnings Results, Hits Estimates

PG&E (NYSE:PCG) released its quarterly earnings results on Thursday. The utilities provider reported $0.31 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.31, RTT News reports. PG&E had a return on equity of 12.51% and a net margin of 11.11%. During the same quarter in the prior year, the company posted $0.47 earnings per share.

PG&E Price Performance

Shares of NYSE PCG opened at $15.83 on Friday. The company has a debt-to-equity ratio of 2.02, a quick ratio of 0.99 and a current ratio of 1.04. The firm’s 50-day simple moving average is $18.12 and its 200 day simple moving average is $19.24. The stock has a market cap of $41.41 billion, a price-to-earnings ratio of 12.38, a PEG ratio of 1.09 and a beta of 0.99. PG&E has a fifty-two week low of $14.99 and a fifty-two week high of $21.72.

Insider Activity

In other news, CEO Patricia K. Poppe sold 55,555 shares of the company’s stock in a transaction that occurred on Monday, December 2nd. The stock was sold at an average price of $20.66, for a total value of $1,147,766.30. Following the completion of the transaction, the chief executive officer now directly owns 1,460,222 shares of the company’s stock, valued at $30,168,186.52. This represents a 3.67 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Corporate insiders own 0.15% of the company’s stock.

Analyst Upgrades and Downgrades

PCG has been the topic of several research analyst reports. JPMorgan Chase & Co. reissued an “overweight” rating and issued a $22.00 price objective on shares of PG&E in a research report on Wednesday. UBS Group cut their target price on PG&E from $24.00 to $22.00 and set a “buy” rating for the company in a research report on Thursday, January 30th. Mizuho increased their price objective on shares of PG&E from $24.00 to $26.00 and gave the stock an “outperform” rating in a research note on Wednesday, November 27th. Barclays cut their price target on shares of PG&E from $24.00 to $23.00 and set an “overweight” rating for the company in a report on Monday, January 27th. Finally, BMO Capital Markets started coverage on shares of PG&E in a research report on Monday, January 13th. They set an “outperform” rating and a $21.00 price objective for the company. One research analyst has rated the stock with a sell rating and ten have issued a buy rating to the company. According to MarketBeat, PG&E has an average rating of “Moderate Buy” and a consensus price target of $22.05.

About PG&E

PG&E Corp. operates as a holding company, which engages in generation, transmission, and distribution of electricity and natural gas to customers. It specializes in energy, utility, power, gas, electricity, solar and sustainability. The company was founded in 1995 and is headquartered in Oakland, CA.