Zacks: Analysts Anticipate PG&E Co. (NYSE:PCG) Will Announce Earnings of $0.26 Per Share

Equities research analysts expect PG&E Co. (NYSE:PCGGet Rating) to announce earnings per share (EPS) of $0.26 for the current fiscal quarter, according to Zacks. Two analysts have provided estimates for PG&E’s earnings. The lowest EPS estimate is $0.25 and the highest is $0.26. PG&E reported earnings of $0.23 per share during the same quarter last year, which indicates a positive year over year growth rate of 13%. The business is scheduled to issue its next earnings report before the market opens on Monday, January 1st.

According to Zacks, analysts expect that PG&E will report full-year earnings of $1.09 per share for the current fiscal year, with EPS estimates ranging from $1.07 to $1.10. For the next year, analysts expect that the company will post earnings of $1.22 per share, with EPS estimates ranging from $1.17 to $1.25. Zacks’ earnings per share calculations are an average based on a survey of sell-side research analysts that that provide coverage for PG&E.

PG&E (NYSE:PCGGet Rating) last released its earnings results on Thursday, February 10th. The utilities provider reported $0.28 earnings per share for the quarter, hitting the Zacks’ consensus estimate of $0.28. PG&E had a negative net margin of 0.45% and a positive return on equity of 10.07%. The firm had revenue of $5.25 billion for the quarter, compared to analyst estimates of $5.32 billion. During the same period in the prior year, the firm earned $0.21 earnings per share. The business’s quarterly revenue was up 10.5% compared to the same quarter last year.

A number of brokerages recently issued reports on PCG. StockNews.com began coverage on PG&E in a report on Thursday, March 31st. They issued a “hold” rating for the company. Mizuho upped their price target on PG&E from $16.00 to $18.00 in a report on Tuesday, April 12th. Finally, Morgan Stanley upped their price target on PG&E from $12.00 to $13.00 and gave the company an “equal weight” rating in a report on Tuesday, March 22nd. Four investment analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, PG&E currently has an average rating of “Hold” and an average price target of $14.25.

In related news, major shareholder Pg&E Fire Victim Trust sold 40,000,000 shares of the stock in a transaction on Monday, January 31st. The stock was sold at an average price of $12.09, for a total transaction of $483,600,000.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 0.07% of the stock is currently owned by corporate insiders.

Hedge funds and other institutional investors have recently modified their holdings of the stock. Geode Capital Management LLC raised its position in PG&E by 1.7% in the third quarter. Geode Capital Management LLC now owns 18,808,073 shares of the utilities provider’s stock worth $180,775,000 after acquiring an additional 322,300 shares in the last quarter. Guggenheim Capital LLC raised its position in PG&E by 36.5% in the third quarter. Guggenheim Capital LLC now owns 133,424 shares of the utilities provider’s stock worth $1,281,000 after acquiring an additional 35,705 shares in the last quarter. Vident Investment Advisory LLC raised its position in PG&E by 20.8% in the third quarter. Vident Investment Advisory LLC now owns 108,189 shares of the utilities provider’s stock worth $1,039,000 after acquiring an additional 18,644 shares in the last quarter. Balentine LLC increased its position in shares of PG&E by 8.5% in the fourth quarter. Balentine LLC now owns 18,055 shares of the utilities provider’s stock valued at $219,000 after buying an additional 1,417 shares in the last quarter. Finally, Coastal Investment Advisors Inc. increased its position in shares of PG&E by 11.0% in the fourth quarter. Coastal Investment Advisors Inc. now owns 58,822 shares of the utilities provider’s stock valued at $714,000 after buying an additional 5,843 shares in the last quarter. 78.38% of the stock is owned by hedge funds and other institutional investors.

Shares of PCG stock traded down $0.10 during trading hours on Monday, reaching $12.20. 133,686 shares of the stock were exchanged, compared to its average volume of 18,591,176. The business’s fifty day moving average is $11.66 and its two-hundred day moving average is $11.82. The company has a debt-to-equity ratio of 1.80, a current ratio of 0.64 and a quick ratio of 0.60. PG&E has a 12-month low of $8.24 and a 12-month high of $13.19. The firm has a market capitalization of $30.07 billion, a P/E ratio of -135.65, a P/E/G ratio of 4.50 and a beta of 1.33.

PG&E Company Profile (Get Rating)

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.

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