Pacific Gas & Electric Co. (NYSE:PCG) released its earnings results on Thursday. The utilities provider reported $1.12 earnings per share for the quarter, beating analysts’ consensus estimates of $0.94 by $0.18, Briefing.com reports. Pacific Gas & Electric Co. had a net margin of 12.59% and a return on equity of 12.06%. The business had revenue of $4.52 billion during the quarter, compared to the consensus estimate of $4.82 billion. During the same quarter last year, the firm earned $0.94 earnings per share. The firm’s revenue for the quarter was down 6.1% compared to the same quarter last year. Pacific Gas & Electric Co. updated its FY17 guidance to $3.55-3.75 EPS.
Shares of Pacific Gas & Electric Co. (NYSE PCG) traded down $0.44 during trading on Friday, reaching $56.80. 5,250,125 shares of the company’s stock traded hands, compared to its average volume of 9,675,817. The firm has a market cap of $29.14 billion, a price-to-earnings ratio of 12.96, a PEG ratio of 3.68 and a beta of 0.17. The company has a current ratio of 0.87, a quick ratio of 0.80 and a debt-to-equity ratio of 0.88.
The firm also recently disclosed a quarterly dividend, which was paid on Sunday, October 15th. Shareholders of record on Friday, September 29th were paid a $0.53 dividend. This represents a $2.12 annualized dividend and a yield of 3.73%. The ex-dividend date of this dividend was Thursday, September 28th. Pacific Gas & Electric Co.’s dividend payout ratio (DPR) is 48.74%.
In related news, VP David S. Thomason sold 700 shares of the company’s stock in a transaction dated Wednesday, August 23rd. The stock was sold at an average price of $69.62, for a total value of $48,734.00. Following the completion of the sale, the vice president now directly owns 7,357 shares of the company’s stock, valued at approximately $512,194.34. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, EVP John R. Simon sold 881 shares of the company’s stock in a transaction dated Tuesday, August 22nd. The shares were sold at an average price of $69.43, for a total value of $61,167.83. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 4,915 shares of company stock valued at $340,377. Insiders own 0.15% of the company’s stock.
A number of brokerages have recently commented on PCG. Bank of America Corporation began coverage on shares of Pacific Gas & Electric Co. in a research report on Tuesday, October 24th. They issued a “neutral” rating and a $59.00 price objective for the company. Morgan Stanley reissued a “buy” rating on shares of Pacific Gas & Electric Co. in a research report on Monday, October 16th. Wells Fargo & Company decreased their price objective on shares of Pacific Gas & Electric Co. from $79.00 to $67.00 and set an “outperform” rating for the company in a research report on Monday, October 16th. Evercore ISI decreased their price objective on shares of Pacific Gas & Electric Co. from $66.00 to $61.00 in a research report on Monday, October 16th. Finally, Goldman Sachs Group, Inc. (The) downgraded shares of Pacific Gas & Electric Co. from a “conviction-buy” rating to a “buy” rating and set a $65.00 price objective for the company. in a research report on Monday, October 16th. Five research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. Pacific Gas & Electric Co. has a consensus rating of “Buy” and a consensus price target of $67.85.
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About Pacific Gas & Electric Co.
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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