PG&E (NYSE:PCG) issued its earnings results on Monday. The utilities provider reported $1.13 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.14 by ($0.01), MarketWatch Earnings reports. The company had revenue of $4.38 billion during the quarter, compared to analyst estimates of $4.77 billion. PG&E had a net margin of 0.80% and a return on equity of 10.20%. The business’s revenue for the quarter was down 3.0% compared to the same quarter last year. During the same quarter last year, the company posted $1.12 EPS.
PCG opened at $48.71 on Tuesday. The stock has a market cap of $24.53 billion, a P/E ratio of 13.24, a price-to-earnings-growth ratio of 3.57 and a beta of -0.09. PG&E has a fifty-two week low of $37.30 and a fifty-two week high of $57.11. The company has a current ratio of 0.65, a quick ratio of 0.60 and a debt-to-equity ratio of 0.92.
A number of equities research analysts have recently issued reports on PCG shares. Morgan Stanley restated a “buy” rating on shares of PG&E in a research note on Monday, August 27th. Bank of America upped their target price on shares of PG&E from $43.00 to $50.00 and gave the company a “neutral” rating in a research note on Monday, July 9th. Wells Fargo & Co upped their target price on shares of PG&E from $46.00 to $48.00 and gave the company a “market perform” rating in a research note on Friday, July 27th. Evercore ISI upgraded shares of PG&E from an “in-line” rating to an “outperform” rating and upped their target price for the company from $50.00 to $52.00 in a research note on Tuesday, September 4th. Finally, Citigroup set a $48.00 target price on shares of PG&E and gave the company a “hold” rating in a research note on Monday, October 8th. One investment analyst has rated the stock with a sell rating, nine have issued a hold rating and seven have given a buy rating to the company. The stock currently has a consensus rating of “Hold” and a consensus target price of $51.51.
In related news, COO Nickolas Stavropoulos sold 1,161 shares of the stock in a transaction dated Wednesday, August 22nd. The shares were sold at an average price of $44.79, for a total transaction of $52,001.19. Following the sale, the chief operating officer now owns 78,223 shares in the company, valued at $3,503,608.17. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 0.14% of the stock is owned by corporate insiders.
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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 107,200 circuit miles of distribution lines, 59 transmission switching substations, and 605 distribution substations; and electricity transmission network comprises approximately 19,200 circuit miles of interconnected transmission lines and 92 electric transmission substations.
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