PG&E (NYSE:PCG) Issues FY24 Earnings Guidance

PG&E (NYSE:PCG) updated its FY24 earnings guidance on Monday. The company provided EPS guidance of $1.34-1.37 for the period, compared to the consensus EPS estimate of $1.36. PG&E also updated its FY25 guidance to $1.47-1.51 EPS.

Wall Street Analysts Forecast Growth

PCG has been the subject of several recent research reports. Barclays boosted their price objective on PG&E from $24.00 to $25.00 and gave the company an “overweight” rating in a research report on Monday, October 21st. 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 price target for the company. Morgan Stanley boosted their price objective 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. Mizuho increased their target price on shares of PG&E from $24.00 to $26.00 and gave the stock an “outperform” rating in a report on Wednesday, November 27th. Finally, Jefferies Financial Group assumed coverage on PG&E in a report on Monday, October 14th. They set a “buy” rating and a $24.00 price target on the stock. Two investment analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. Based on data from MarketBeat.com, PG&E has a consensus rating of “Moderate Buy” and a consensus target price of $23.10.

PG&E Stock Performance

PCG opened at $21.63 on Monday. The stock has a market cap of $56.57 billion, a PE ratio of 16.90, a PEG ratio of 1.66 and a beta of 1.03. The business has a 50 day moving average of $20.44 and a 200-day moving average of $19.14. PG&E has a 52 week low of $15.94 and a 52 week high of $21.72. The company has a quick ratio of 0.99, a current ratio of 1.04 and a debt-to-equity ratio of 2.02.

PG&E (NYSE:PCG) last announced its earnings results on Thursday, November 7th. The utilities provider reported $0.37 EPS for the quarter, beating analysts’ consensus estimates of $0.32 by $0.05. The firm had revenue of $5.94 billion for 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 company’s quarterly revenue was up .9% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.24 EPS. Equities research analysts predict that PG&E will post 1.36 earnings per share for the current fiscal year.

PG&E Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, October 15th. Shareholders of record on Monday, September 30th were paid a dividend of $0.01 per share. This represents a $0.04 dividend on an annualized basis and a dividend yield of 0.18%. The ex-dividend date of this dividend was Monday, September 30th. PG&E’s dividend payout ratio is 3.13%.

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.