PG&E (PCG) Set to Announce Earnings on Thursday

PG&E (NYSE:PCG) is scheduled to be issuing its quarterly earnings data before the market opens on Thursday, April 25th. Analysts expect the company to announce earnings of $0.35 per share for the quarter. PG&E has set its FY 2024 guidance at 1.330-1.370 EPS and its FY24 guidance at $1.33-$1.37 EPS.Parties that wish to register for the company’s conference call can do so using this link.

PG&E (NYSE:PCG) last announced its quarterly earnings data on Thursday, February 22nd. The utilities provider reported $0.47 EPS for the quarter, beating the consensus estimate of $0.46 by $0.01. The business had revenue of $7.04 billion during the quarter, compared to analyst estimates of $6.43 billion. PG&E had a return on equity of 10.84% and a net margin of 9.24%. During the same quarter last year, the firm posted $0.26 earnings per share. On average, analysts expect PG&E to post $1 EPS for the current fiscal year and $1 EPS for the next fiscal year.

PG&E Stock Performance

Shares of PG&E stock opened at $16.44 on Thursday. The company has a current ratio of 0.83, a quick ratio of 0.78 and a debt-to-equity ratio of 2.04. The firm has a market capitalization of $35.13 billion, a P/E ratio of 15.66 and a beta of 1.32. The business has a fifty day simple moving average of $16.51 and a two-hundred day simple moving average of $16.83. PG&E has a 12 month low of $14.71 and a 12 month high of $18.32.

PG&E Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, April 15th. Stockholders of record on Thursday, March 28th were given a $0.01 dividend. This represents a $0.04 annualized dividend and a dividend yield of 0.24%. The ex-dividend date of this dividend was Wednesday, March 27th. PG&E’s dividend payout ratio is presently 3.81%.

Wall Street Analysts Forecast Growth

Several research firms have recently issued reports on PCG. Barclays lowered their price target on PG&E from $20.00 to $19.00 and set an “overweight” rating for the company in a research report on Monday, January 22nd. The Goldman Sachs Group started coverage on PG&E in a research report on Wednesday, April 10th. They issued a “buy” rating and a $21.00 price target for the company. Finally, StockNews.com upgraded PG&E from a “sell” rating to a “hold” rating in a report on Thursday, February 1st. Four analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $18.78.

Hedge Funds Weigh In On PG&E

Several hedge funds have recently bought and sold shares of the business. Vanguard Group Inc. grew its position in PG&E by 3.1% in the 4th quarter. Vanguard Group Inc. now owns 276,696,522 shares of the utilities provider’s stock valued at $4,988,838,000 after acquiring an additional 8,288,828 shares during the last quarter. BlackRock Inc. grew its position in PG&E by 12.8% in the 1st quarter. BlackRock Inc. now owns 134,314,990 shares of the utilities provider’s stock valued at $2,171,873,000 after acquiring an additional 15,210,198 shares during the last quarter. JPMorgan Chase & Co. grew its position in PG&E by 43.6% in the 1st quarter. JPMorgan Chase & Co. now owns 62,502,105 shares of the utilities provider’s stock valued at $1,010,660,000 after acquiring an additional 18,984,092 shares during the last quarter. Price T Rowe Associates Inc. MD grew its position in PG&E by 3.0% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 50,328,088 shares of the utilities provider’s stock valued at $813,807,000 after acquiring an additional 1,475,235 shares during the last quarter. Finally, Capital International Investors grew its position in PG&E by 13.3% in the 1st quarter. Capital International Investors now owns 47,300,517 shares of the utilities provider’s stock valued at $564,768,000 after acquiring an additional 5,534,131 shares during the last quarter. Institutional investors own 78.56% of the company’s stock.

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.