Pacific Gas & Electric Co. (NYSE:PCG) to Issue $0.03 Quarterly Dividend

Pacific Gas & Electric Co. (NYSE:PCG) announced a quarterly dividend on Friday, September 19th, RTT News reports. Shareholders of record on Tuesday, September 30th will be paid a dividend of 0.025 per share by the utilities provider on Wednesday, October 15th. This represents a c) annualized dividend and a dividend yield of 0.7%. The ex-dividend date of this dividend is Tuesday, September 30th.

Pacific Gas & Electric has a dividend payout ratio of 6.1% indicating that its dividend is sufficiently covered by earnings. Research analysts expect Pacific Gas & Electric to earn $1.63 per share next year, which means the company should continue to be able to cover its $0.10 annual dividend with an expected future payout ratio of 6.1%.

Pacific Gas & Electric Price Performance

PCG opened at $14.96 on Friday. The company has a quick ratio of 0.89, a current ratio of 0.94 and a debt-to-equity ratio of 1.81. Pacific Gas & Electric has a 12 month low of $12.97 and a 12 month high of $21.72. The company has a fifty day simple moving average of $14.86 and a 200 day simple moving average of $15.58. The stock has a market cap of $40.03 billion, a P/E ratio of 13.72, a P/E/G ratio of 1.11 and a beta of 0.57.

Pacific Gas & Electric (NYSE:PCG) last announced its earnings results on Thursday, July 31st. The utilities provider reported $0.31 earnings per share for the quarter, missing analysts’ consensus estimates of $0.33 by ($0.02). The company had revenue of $5.90 billion during the quarter, compared to analyst estimates of $6.37 billion. Pacific Gas & Electric had a return on equity of 10.13% and a net margin of 9.95%.Pacific Gas & Electric’s revenue for the quarter was down 1.5% on a year-over-year basis. During the same period in the previous year, the company posted $0.31 earnings per share. Pacific Gas & Electric has set its FY 2025 guidance at 1.480-1.520 EPS. On average, research analysts expect that Pacific Gas & Electric will post 1.49 EPS for the current year.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Costello Asset Management INC purchased a new stake in shares of Pacific Gas & Electric during the 1st quarter valued at approximately $31,000. Deseret Mutual Benefit Administrators grew its holdings in shares of Pacific Gas & Electric by 45.0% during the 1st quarter. Deseret Mutual Benefit Administrators now owns 2,173 shares of the utilities provider’s stock valued at $37,000 after purchasing an additional 674 shares during the last quarter. Safe Harbor Fiduciary LLC bought a new position in shares of Pacific Gas & Electric during the 1st quarter valued at $39,000. Larson Financial Group LLC boosted its position in Pacific Gas & Electric by 198.1% during the 1st quarter. Larson Financial Group LLC now owns 3,050 shares of the utilities provider’s stock valued at $52,000 after buying an additional 2,027 shares during the period. Finally, Financial Network Wealth Advisors LLC boosted its position in Pacific Gas & Electric by 57.7% during the 1st quarter. Financial Network Wealth Advisors LLC now owns 3,445 shares of the utilities provider’s stock valued at $59,000 after buying an additional 1,260 shares during the period. 78.56% of the stock is currently owned by hedge funds and other institutional investors.

Pacific Gas & Electric Company Profile

PG&E Corp. operates as a holding company, which engages in generation, transmission, and distribution of electricity and natural gas to customers. It specializes in energy, utility, power, gas, electricity, solar and sustainability. The company was founded in 1995 and is headquartered in Oakland, CA.