PG&E (NYSE:PCG) Announces Quarterly Earnings Results, Hits Estimates

PG&E (NYSE:PCG) released its earnings results on Thursday. The utilities provider reported $0.31 earnings per share for the quarter, meeting the consensus estimate 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 in the prior year, the firm earned $0.47 EPS.

PG&E Trading Down 3.5 %

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

Wall Street Analysts Forecast Growth

A number of equities research analysts have commented on the company. Barclays decreased their price target on PG&E from $24.00 to $23.00 and set an “overweight” rating on the stock in a report on Monday, January 27th. Morgan Stanley cut PG&E from an “equal weight” rating to an “underweight” rating and decreased their price target for the company from $20.00 to $16.50 in a report on Friday. JPMorgan Chase & Co. reissued an “overweight” rating and set a $22.00 price target on shares of PG&E in a report on Wednesday. UBS Group decreased their price target on PG&E from $24.00 to $22.00 and set a “buy” rating on the stock in a report on Thursday, January 30th. Finally, Mizuho raised their price target on PG&E from $24.00 to $26.00 and gave the company an “outperform” rating in a report on Wednesday, November 27th. One equities research analyst has rated the stock with a sell rating and ten have given a buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $22.05.

Insider Activity at PG&E

In related news, CEO Patricia K. Poppe sold 55,555 shares of the stock in a transaction that occurred on Monday, December 2nd. The stock was sold at an average price of $20.66, for a total value of $1,147,766.30. Following the transaction, the chief executive officer now owns 1,460,222 shares of the company’s stock, valued at $30,168,186.52. This represents a 3.67 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 0.15% of the stock is owned by company 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.