Pacific Gas & Electric Co. (PCG) to Release Earnings on Thursday
Pacific Gas & Electric Co. (NYSE:PCG) is scheduled to post its quarterly earnings results before the market opens on Thursday, November 2nd. Analysts expect Pacific Gas & Electric Co. to post earnings of $0.94 per share for the quarter.
Pacific Gas & Electric Co. (NYSE:PCG) last posted its earnings results on Thursday, July 27th. The utilities provider reported $0.86 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.79 by $0.07. Pacific Gas & Electric Co. had a net margin of 11.48% and a return on equity of 11.63%. The firm had revenue of $4.25 billion for the quarter, compared to analysts’ expectations of $4.34 billion. During the same quarter last year, the firm earned $0.66 EPS. The company’s quarterly revenue was up 1.9% compared to the same quarter last year. On average, analysts expect Pacific Gas & Electric Co. to post $3.67 EPS for the current fiscal year and $3.82 EPS for the next fiscal year.
Pacific Gas & Electric Co. (PCG) opened at 56.68 on Thursday. The company has a market cap of $29.07 billion, a PE ratio of 13.97 and a beta of 0.22. The firm’s 50 day moving average is $66.02 and its 200 day moving average is $67.27. Pacific Gas & Electric Co. has a 52-week low of $49.83 and a 52-week high of $71.57.
The company also recently declared a quarterly dividend, which was paid on Sunday, October 15th. Stockholders of record on Friday, September 29th were issued a dividend of $0.53 per share. This represents a $2.12 dividend on an annualized basis and a dividend yield of 3.74%. The ex-dividend date of this dividend was Thursday, September 28th. Pacific Gas & Electric Co.’s payout ratio is 52.35%.
In other Pacific Gas & Electric Co. news, COO Nickolas Stavropoulos sold 1,101 shares of the stock in a transaction that occurred on Tuesday, August 22nd. The shares were sold at an average price of $69.43, for a total value of $76,442.43. Following the transaction, the chief operating officer now directly owns 63,661 shares in the company, valued at $4,419,983.23. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Roger H. Kimmel purchased 4,000 shares of the firm’s stock in a transaction on Tuesday, September 5th. The stock was acquired at an average price of $69.68 per share, for a total transaction of $278,720.00. The disclosure for this purchase can be found here. Insiders sold 4,915 shares of company stock worth $340,377 over the last quarter. Insiders own 0.15% of the company’s stock.
A number of equities research analysts have recently commented on the stock. Evercore ISI cut their price target on shares of Pacific Gas & Electric Co. from $66.00 to $61.00 in a report on Monday, October 16th. Wells Fargo & Company cut their price target on shares of Pacific Gas & Electric Co. from $79.00 to $67.00 and set an “outperform” rating on the stock in a report on Monday, October 16th. Bank of America Corporation began coverage on shares of Pacific Gas & Electric Co. in a report on Tuesday. They set a “neutral” rating and a $59.00 price target on the stock. Royal Bank Of Canada restated a “buy” rating and set a $70.00 price objective on shares of Pacific Gas & Electric Co. in a research report on Tuesday, August 15th. Finally, BMO Capital Markets restated a “hold” rating and set a $69.00 price objective on shares of Pacific Gas & Electric Co. in a research report on Thursday, July 13th. Five equities research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company’s stock. Pacific Gas & Electric Co. currently has a consensus rating of “Buy” and an average price target of $67.85.
Pacific Gas & Electric Co. Company Profile
PG&E Corporation is a holding company. The Company’s primary operating subsidiary is Pacific Gas and Electric Company (the Utility), which operates in northern and central California. The Utility is engaged in the sale and delivery of electricity and natural gas to customers. The Utility generates electricity and provides electricity transmission and distribution services throughout its service territory in northern and central California to residential, commercial, industrial, and agricultural customers.
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