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

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

Analyst Ratings Changes

PCG has been the subject of several research analyst reports. Jefferies Financial Group initiated coverage on shares of PG&E in a research note on Monday, October 14th. They issued a “buy” rating and a $24.00 price target for the company. UBS Group raised their price target on PG&E from $24.00 to $26.00 and gave the company a “buy” rating in a research report on Tuesday, September 3rd. Barclays upped their price objective on PG&E from $24.00 to $25.00 and gave the stock an “overweight” rating in a report on Monday, October 21st. Morgan Stanley raised their price objective on PG&E from $19.00 to $20.00 and gave the company an “equal weight” rating in a report on Wednesday, September 25th. Finally, Bank of America began coverage on PG&E in a research report on Thursday, September 12th. They issued a “buy” rating and a $24.00 target price for the company. Two research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. According to MarketBeat.com, PG&E has an average rating of “Moderate Buy” and an average price target of $23.10.

PG&E Price Performance

PCG stock opened at $21.63 on Monday. PG&E has a 1 year low of $15.94 and a 1 year high of $21.72. The firm has a 50-day moving average of $20.44 and a 200 day moving average of $19.14. 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 company has a market cap of $56.57 billion, a P/E ratio of 16.90, a PEG ratio of 1.66 and a beta of 1.03.

PG&E (NYSE:PCG) last announced its earnings results 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 business had revenue of $5.94 billion during the quarter, compared to the consensus estimate of $6.58 billion. PG&E had a net margin of 11.11% and a return on equity of 12.51%. The business’s revenue for the quarter was up .9% on a year-over-year basis. During the same quarter last year, the firm earned $0.24 earnings per share. On average, sell-side analysts forecast that PG&E will post 1.36 EPS for the current year.

PG&E Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, October 15th. Shareholders of record on Monday, September 30th were issued a $0.01 dividend. The ex-dividend date of this dividend was Monday, September 30th. This represents a $0.04 annualized dividend and a yield of 0.18%. PG&E’s dividend payout ratio (DPR) is presently 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.