PG&E (NYSE:PCG) Announces Earnings Results

PG&E (NYSE:PCG) posted its 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 last year, the company earned $0.47 earnings per share.

PG&E Stock Performance

PCG traded down $0.56 during midday trading on Friday, hitting $15.30. 28,221,341 shares of the company were exchanged, compared to its average volume of 32,168,314. The company’s 50 day simple moving average is $17.93 and its 200 day simple moving average is $19.19. The firm has a market capitalization of $40.00 billion, a price-to-earnings ratio of 11.95, a price-to-earnings-growth ratio of 1.09 and a beta of 0.99. The company has a current ratio of 1.04, a quick ratio of 0.99 and a debt-to-equity ratio of 2.02. PG&E has a 1-year low of $14.99 and a 1-year high of $21.72.

Wall Street Analysts Forecast Growth

PCG has been the subject of several analyst reports. Mizuho increased their price objective on PG&E from $24.00 to $26.00 and gave the company an “outperform” rating in a report on Wednesday, November 27th. JPMorgan Chase & Co. reiterated an “overweight” rating and set a $22.00 price objective on shares of PG&E in a report on Wednesday. UBS Group decreased their price objective on PG&E from $24.00 to $22.00 and set a “buy” rating for the company in a report on Thursday, January 30th. Morgan Stanley lowered PG&E from an “equal weight” rating to an “underweight” rating and decreased their price objective for the company from $20.00 to $16.50 in a report on Friday. Finally, BMO Capital Markets assumed coverage on PG&E in a report on Monday, January 13th. They set an “outperform” rating and a $21.00 price objective for the company. One equities research analyst has rated the stock with a sell rating and ten have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $22.05.

Insiders Place Their Bets

In other news, CEO Patricia K. Poppe sold 55,555 shares of the firm’s stock in a transaction dated Monday, December 2nd. The stock was sold at an average price of $20.66, for a total transaction of $1,147,766.30. Following the sale, the chief executive officer now directly owns 1,460,222 shares in the company, valued at $30,168,186.52. This trade represents a 3.67 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 0.15% of the stock is owned by insiders.

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.