PG&E (NYSE:PCG – Get Free Report) updated its FY24 earnings guidance on Thursday. The company provided earnings per share guidance of $1.33-1.37 for the period, compared to the consensus earnings per share estimate of $1.35. PG&E also updated its FY 2024 guidance to 1.330-1.370 EPS.
Analysts Set New Price Targets
A number of research firms recently weighed in on PCG. 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 report on Tuesday. Barclays boosted their price target on PG&E from $20.00 to $21.00 and gave the company an overweight rating in a research note on Friday. The Goldman Sachs Group initiated coverage on PG&E in a research note 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 research note on Thursday, February 1st. Four investment 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, PG&E currently has an average rating of Moderate Buy and a consensus target price of $19.11.
Read Our Latest Stock Report on PCG
PG&E Price Performance
PG&E (NYSE:PCG – Get Free Report) last released its earnings results on Thursday, April 25th. The utilities provider reported $0.37 earnings per share for the quarter, beating analysts’ consensus estimates of $0.35 by $0.02. The firm had revenue of $5.86 billion during the quarter, compared to the consensus estimate of $6.60 billion. PG&E had a return on equity of 11.48% and a net margin of 10.05%. The company’s revenue was down 5.6% compared to the same quarter last year. During the same period in the prior year, the company posted $0.29 EPS. As a group, sell-side analysts predict that PG&E will post 1.35 earnings per share for the current year.
PG&E Dividend Announcement
The business also recently announced a quarterly dividend, which was paid on Monday, April 15th. Stockholders of record on Thursday, March 28th were given a dividend of $0.01 per share. The ex-dividend date was Wednesday, March 27th. This represents a $0.04 dividend on an annualized basis and a dividend yield of 0.23%. PG&E’s payout ratio is 3.57%.
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.
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