PG&E (NYSE:PCG) announced its earnings results on Thursday. The utilities provider reported $1.11 EPS for the quarter, beating analysts’ consensus estimates of $1.01 by $0.10, Fidelity Earnings reports. The firm had revenue of $4.43 billion for the quarter, compared to analysts’ expectations of $4.39 billion. PG&E had a positive return on equity of 15.16% and a negative net margin of 53.07%.
Shares of PCG stock traded up $0.46 during mid-day trading on Friday, hitting $6.48. 15,330,147 shares of the company’s stock were exchanged, compared to its average volume of 15,338,995. PG&E has a fifty-two week low of $3.55 and a fifty-two week high of $44.58. The stock has a 50-day simple moving average of $8.43 and a two-hundred day simple moving average of $15.40. The company has a quick ratio of 1.92, a current ratio of 2.03 and a debt-to-equity ratio of 0.20. The stock has a market cap of $4.23 billion, a price-to-earnings ratio of 1.62, a PEG ratio of 0.91 and a beta of 0.32.
PCG has been the topic of a number of analyst reports. ValuEngine upgraded PG&E from a “strong sell” rating to a “sell” rating in a report on Wednesday, October 2nd. Evercore ISI set a $25.00 target price on PG&E and gave the company a “hold” rating in a report on Monday, August 12th. Citigroup cut PG&E from a “neutral” rating to a “sell” rating and lowered their target price for the company from $12.00 to $5.00 in a report on Friday, October 11th. UBS Group decreased their price objective on PG&E from $13.00 to $10.00 and set a “neutral” rating on the stock in a report on Friday, October 11th. Finally, Wells Fargo & Co restated a “hold” rating on shares of PG&E in a report on Monday, October 28th. Three investment analysts have rated the stock with a sell rating, twelve have issued a hold rating and one has issued a buy rating to the company. The stock currently has an average rating of “Hold” and a consensus price target of $16.70.
PG&E Corporation, through its subsidiary, Pacific Gas and Electric Company, engages in the sale and delivery of electricity and natural gas to residential, commercial, industrial, and agricultural customers in northern and central California, the United States. The company's electricity distribution network consists of approximately 107,000 circuit miles of distribution lines, 50 transmission switching substations, and 769 distribution substations; and electricity transmission network comprises approximately 18,000 circuit miles of interconnected transmission lines and 84 electric transmission substations.
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