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.
Wall Street Analyst Weigh In
Several research analysts have weighed in on the company. The Goldman Sachs Group assumed coverage on PG&E in a research report on Wednesday, April 10th. They issued a buy rating and a $21.00 price objective on the stock. JPMorgan Chase & Co. boosted their price objective on PG&E from $18.00 to $19.00 and gave the stock a neutral rating in a research report on Tuesday, April 23rd. StockNews.com raised PG&E from a sell rating to a hold rating in a research report on Thursday, February 1st. Finally, Barclays boosted their price objective on PG&E from $20.00 to $21.00 and gave the stock an overweight rating in a research report on Friday. Four equities research analysts have rated the stock with a hold rating and four have given a buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of Moderate Buy and a consensus price target of $19.11.
Read Our Latest Stock Analysis on PCG
PG&E Stock Performance
PG&E (NYSE:PCG – Get Free Report) last issued its earnings results on Thursday, April 25th. The utilities provider reported $0.37 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.35 by $0.02. The firm had revenue of $5.86 billion for the quarter, compared to analyst estimates of $6.60 billion. PG&E had a return on equity of 11.48% and a net margin of 10.05%. The business’s revenue was down 5.6% on a year-over-year basis. During the same period in the previous year, the company posted $0.29 earnings per share. On average, equities research analysts expect that PG&E will post 1.35 EPS for the current year.
PG&E Announces Dividend
The business also recently disclosed a quarterly dividend, which was paid on Monday, April 15th. Investors of record on Thursday, March 28th were paid a dividend of $0.01 per share. The ex-dividend date of this dividend 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%.
About PG&E
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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