Pacific Gas & Electric Co. (PCG) Declares Quarterly Dividend of $0.53
Pacific Gas & Electric Co. (NYSE:PCG) announced a quarterly dividend on Wednesday, September 20th, RTT News reports. Investors of record on Friday, September 29th will be given a dividend of 0.53 per share by the utilities provider on Sunday, October 15th. This represents a $2.12 annualized dividend and a yield of 3.06%.
Pacific Gas & Electric Co. has raised its dividend by an average of 1.3% per year over the last three years. Pacific Gas & Electric Co. has a dividend payout ratio of 57.6% indicating that its dividend is sufficiently covered by earnings. Research analysts expect Pacific Gas & Electric Co. to earn $3.81 per share next year, which means the company should continue to be able to cover its $2.12 annual dividend with an expected future payout ratio of 55.6%.
Pacific Gas & Electric Co. (NYSE:PCG) traded down 0.56% during midday trading on Wednesday, reaching $68.89. 1,883,832 shares of the company traded hands. The company has a market capitalization of $35.33 billion, a price-to-earnings ratio of 16.98 and a beta of 0.22. The stock’s 50 day moving average is $69.61 and its 200 day moving average is $67.68. Pacific Gas & Electric Co. has a one year low of $57.60 and a one year high of $71.57.
Pacific Gas & Electric Co. (NYSE:PCG) last announced its quarterly earnings data on Thursday, July 27th. The utilities provider reported $0.86 earnings per share for the quarter, beating analysts’ consensus estimates of $0.79 by $0.07. The business had revenue of $4.25 billion for the quarter, compared to analyst estimates of $4.34 billion. Pacific Gas & Electric Co. had a return on equity of 11.63% and a net margin of 11.48%. The company’s revenue was up 1.9% on a year-over-year basis. During the same period in the prior year, the company earned $0.66 earnings per share. On average, equities analysts anticipate that Pacific Gas & Electric Co. will post $3.67 earnings per share for the current year.
In other news, VP David S. Thomason sold 700 shares of the firm’s stock in a transaction that occurred on Wednesday, August 23rd. The stock was sold at an average price of $69.62, for a total value of $48,734.00. Following the transaction, the vice president now owns 7,357 shares in the company, valued at $512,194.34. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Roger H. Kimmel bought 4,000 shares of the firm’s stock in a transaction dated Tuesday, September 5th. The stock was purchased 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. In the last 90 days, insiders sold 4,915 shares of company stock worth $340,377. Company insiders own 0.15% of the company’s stock.
A number of brokerages have recently weighed in on PCG. Royal Bank Of Canada reaffirmed a “buy” rating and set a $70.00 target price on shares of Pacific Gas & Electric Co. in a report on Monday. ValuEngine raised Pacific Gas & Electric Co. from a “hold” rating to a “buy” rating in a report on Friday, September 1st. BidaskClub raised Pacific Gas & Electric Co. from a “hold” rating to a “buy” rating in a report on Tuesday, August 22nd. Jefferies Group LLC reaffirmed a “buy” rating and set a $76.00 target price on shares of Pacific Gas & Electric Co. in a report on Sunday, July 30th. Finally, BMO Capital Markets reaffirmed a “hold” rating and set a $69.00 target price on shares of Pacific Gas & Electric Co. in a report on Thursday, July 13th. Five investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. The stock presently has a consensus rating of “Buy” and an average target price of $69.60.
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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