Stock Update (NYSE:PCG): PG&E Corporation Raises Common Stock Dividend, Highlights Progress at Annual Shareholder Meeting

[Business Wire] – PG&E Corporation today announced that it is raising its quarterly common stock dividend to 49 cents per share, an increase of 3.5 cents per share, beginning with dividends for the second quarter of 2016. Read more on this. PG&E Corporation (PCG) , with a current market cap of $28.58B, started trading this morning at $57.56. Today’s price range has been between $57.51 and $58.33 per share with its 52-week range being $47.33 to $60.09. PG&E Corporation (PCG) shares are currently priced at 15.47x this year’s forecasted earnings, which makes them relatively expensive compared to the industry’s 14.79x earnings multiple for the same period. The company pays shareholders $1.82 per share in dividend income per year, for a current yield of 3.16%. Consensus earnings for the current quarter by the 9 sell-side analysts covering the stock is an estimate of $1.04 per share, which would be $0.13 better than the year-ago quarter and a $0.02 sequential increase. Furthermore, our analysis shows the full-year EPS estimate to be $3.72, which would be a $0.60 improvement when compared to the last year’s annual results. The quarterly earnings estimate is predicated on a consensus revenue forecast of $4.59 Billion. If reported, that would be a 8.77% increase over the year-ago quarter. In terms of ratings, Goldman upgraded PCG from Neutral to Buy (Jan 27, 2016). Previously, Morgan Stanley upgraded PCG from Equal-Weight to Overweight. Given all the information above, we should disclose to readers that the average price target is $61.91, which is 7.56% above than it opened this morning. See more in (NYSE:PCG) Similar Articles: Company Update (NYSE:PCG): PG&E Corporation Releases First-Quarter 2016 Financial Results Stock Update (NYSE:PCG): PG&E Corporation Releases Full-Year and Fourth-Quarter 2015 Financial Results Company Update: PG&E Corporation (NYSE:PCG) – PG&E Corporation Schedules Fourth Quarter 2015 Earnings Release and Conference Call
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