PG&E (PCG) Scheduled to Post Earnings on Thursday

PG&E (NYSE:PCGGet Rating) is scheduled to be announcing its earnings results before the market opens on Thursday, April 28th. Analysts expect the company to announce earnings of $0.27 per share for the quarter. PG&E has set its FY22 guidance at $1.07-$1.13 EPS and its FY 2022 guidance at $1.070-$1.130 EPS.Investors that wish to register for the company’s conference call can do so using this link.

PG&E (NYSE:PCGGet Rating) last issued its quarterly earnings data on Thursday, February 10th. The utilities provider reported $0.28 earnings per share (EPS) for the quarter, hitting the Zacks’ consensus estimate of $0.28. PG&E had a positive return on equity of 10.07% and a negative net margin of 0.45%. The company had revenue of $5.25 billion for the quarter, compared to the consensus estimate of $5.32 billion. During the same quarter last year, the business posted $0.21 earnings per share. The firm’s revenue was up 10.5% compared to the same quarter last year. On average, analysts expect PG&E to post $1 EPS for the current fiscal year and $1 EPS for the next fiscal year.

Shares of PCG stock opened at $12.40 on Thursday. The company has a debt-to-equity ratio of 1.80, a quick ratio of 0.60 and a current ratio of 0.64. PG&E has a 52-week low of $8.24 and a 52-week high of $13.19. The company has a market capitalization of $30.57 billion, a PE ratio of -137.76, a price-to-earnings-growth ratio of 4.50 and a beta of 1.33. The business’s fifty day moving average is $11.68 and its 200 day moving average is $11.85.

In other PG&E news, major shareholder Pg&E Fire Victim Trust sold 60,000,000 shares of PG&E stock in a transaction that occurred on Thursday, April 14th. The stock was sold at an average price of $12.04, for a total transaction of $722,400,000.00. Following the sale, the insider now directly owns 377,743,590 shares of the company’s stock, valued at approximately $4,548,032,823.60. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. 0.07% of the stock is owned by company insiders.

Institutional investors have recently bought and sold shares of the business. Toroso Investments LLC bought a new stake in PG&E during the 4th quarter valued at approximately $266,000. Cetera Investment Advisers boosted its position in PG&E by 46.8% during the 4th quarter. Cetera Investment Advisers now owns 26,980 shares of the utilities provider’s stock valued at $328,000 after acquiring an additional 8,605 shares in the last quarter. Metropolitan Life Insurance Co NY bought a new stake in shares of PG&E in the 4th quarter worth approximately $366,000. Millennium Management LLC boosted its position in shares of PG&E by 108.8% in the 3rd quarter. Millennium Management LLC now owns 51,360 shares of the utilities provider’s stock worth $493,000 after purchasing an additional 634,124 shares in the last quarter. Finally, JustInvest LLC boosted its position in shares of PG&E by 366.8% in the 4th quarter. JustInvest LLC now owns 47,762 shares of the utilities provider’s stock worth $580,000 after purchasing an additional 37,531 shares in the last quarter. 78.38% of the stock is currently owned by institutional investors and hedge funds.

A number of equities research analysts have weighed in on the company. Mizuho raised their price target on PG&E from $16.00 to $18.00 in a research report on Tuesday, April 12th. Morgan Stanley lifted their price objective on PG&E from $13.00 to $14.00 and gave the stock an “equal weight” rating in a report on Wednesday. Finally, started coverage on PG&E in a report on Thursday, March 31st. They issued a “hold” rating on the stock. Four analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat, PG&E currently has an average rating of “Hold” and an average target price of $14.42.

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.

See Also

Earnings History for PG&E (NYSE:PCG)

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