PG&E Co. to Post FY2023 Earnings of $1.21 Per Share, Seaport Res Ptn Forecasts (NYSE:PCG)

Posted by on Jun 26th, 2023

PG&E Co. (NYSE:PCG – Get Rating) – Equities research analysts at Seaport Res Ptn dropped their FY2023 earnings estimates for PG&E in a research report issued on Friday, June 23rd. Seaport Res Ptn analyst A. Storozynski now anticipates that the utilities provider will post earnings per share of $1.21 for the year, down from their previous estimate of $1.22. The consensus estimate for PG&E’s current full-year earnings is $1.21 per share. Seaport Res Ptn also issued estimates for PG&E’s FY2024 earnings at $1.33 EPS, FY2025 earnings at $1.45 EPS and FY2026 earnings at $1.58 EPS.

PCG has been the subject of a number of other reports. Morgan Stanley raised their price objective on PG&E from $13.00 to $15.00 and gave the stock an “equal weight” rating in a research report on Thursday, April 20th. Royal Bank of Canada upped their price objective on shares of PG&E from $20.00 to $21.00 in a report on Tuesday, May 30th. LADENBURG THALM/SH SH began coverage on shares of PG&E in a report on Monday, April 3rd. They issued a “buy” rating and a $20.50 target price for the company. Finally, StockNews.com began coverage on PG&E in a research note on Thursday, May 18th. They set a “hold” rating on the stock. Four investment analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. Based on data from MarketBeat, PG&E has an average rating of “Moderate Buy” and a consensus target price of $18.28.

PG&E Price Performance

NYSE:PCG opened at $16.89 on Monday. PG&E has a 52 week low of $9.66 and a 52 week high of $17.68. The stock’s fifty day moving average is $16.98 and its two-hundred day moving average is $16.30. The company has a market capitalization of $41.78 billion, a P/E ratio of 18.98, a P/E/G ratio of 5.56 and a beta of 1.14. The company has a quick ratio of 0.77, a current ratio of 0.83 and a debt-to-equity ratio of 2.06.

PG&E (NYSE:PCG – Get Rating) last announced its quarterly earnings results on Friday, May 5th. The utilities provider reported $0.29 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.29. PG&E had a net margin of 8.64% and a return on equity of 10.21%. The business had revenue of $6.21 billion during the quarter, compared to the consensus estimate of $6.19 billion. During the same quarter last year, the firm earned $0.30 EPS. The business’s revenue was up 7.1% compared to the same quarter last year.

Institutional Trading of PG&E

Several hedge funds have recently modified their holdings of PCG. Clear Street Markets LLC acquired a new stake in PG&E in the 4th quarter valued at about $26,000. Tucker Asset Management LLC purchased a new position in PG&E in the first quarter worth approximately $28,000. Ameritas Advisory Services LLC acquired a new position in PG&E during the 1st quarter worth approximately $32,000. CI Investments Inc. grew its holdings in PG&E by 770.6% during the 3rd quarter. CI Investments Inc. now owns 2,159 shares of the utilities provider’s stock worth $27,000 after acquiring an additional 1,911 shares in the last quarter. Finally, BOKF NA purchased a new stake in shares of PG&E in the 1st quarter valued at approximately $36,000. 77.09% of the stock is currently owned by institutional investors and hedge funds.

PG&E Company Profile

(Get Rating)

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.

Featured Articles

Earnings History and Estimates for PG&E (NYSE:PCG)

Receive News & Ratings for PG&E Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for PG&E and related companies with MarketBeat.com's FREE daily email newsletter.