PG&E (NYSE:PCG) Releases FY24 Earnings Guidance

PG&E (NYSE:PCG) updated its FY24 earnings guidance on Thursday. The company provided earnings per share (EPS) guidance of $1.33-1.37 for the period, compared to the consensus estimate of $1.35. PG&E also updated its FY 2024 guidance to 1.330-1.370 EPS.

Analyst Ratings Changes

Several equities research analysts recently weighed in on the company. StockNews.com upgraded PG&E from a sell rating to a hold rating in a research note on Thursday, February 1st. The Goldman Sachs Group assumed coverage on PG&E in a research note on Wednesday, April 10th. They set a buy rating and a $21.00 target price for the company. JPMorgan Chase & Co. boosted their target price on PG&E from $18.00 to $19.00 and gave the stock a neutral rating in a research note on Tuesday. Finally, Barclays decreased their target price on PG&E from $20.00 to $19.00 and set an overweight rating for the company in a research note on Monday, January 22nd. Four analysts have rated the stock with a hold rating and four have given a buy rating to the stock. According to MarketBeat, PG&E presently has an average rating of Moderate Buy and an average target price of $18.89.

PG&E Trading Down 0.6 %

NYSE:PCG opened at $16.90 on Thursday. The firm has a market cap of $36.12 billion, a P/E ratio of 16.19 and a beta of 1.32. 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 stock’s 50 day simple moving average is $16.56 and its 200-day simple moving average is $16.88. PG&E has a 12-month low of $14.71 and a 12-month high of $18.32.

PG&E (NYSE:PCG) last announced its quarterly earnings data on Thursday, February 22nd. The utilities provider reported $0.47 earnings per share for the quarter, topping analysts’ consensus estimates of $0.46 by $0.01. PG&E had a return on equity of 10.84% and a net margin of 9.24%. The firm had revenue of $7.04 billion for the quarter, compared to analyst estimates of $6.43 billion. During the same quarter in the prior year, the company posted $0.26 earnings per share. Equities analysts anticipate that PG&E will post 1.35 EPS for the current year.

PG&E Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, April 15th. Investors of record on Thursday, March 28th were issued a dividend of $0.01 per share. This represents a $0.04 dividend on an annualized basis and a 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%.

PG&E Company Profile

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.