PG&E (PCGU) Declares $1.38 Dividend
PG&E said on April 13, 2023 that its board of directors declared a regular quarterly dividend of $1.38 per share ($5.50 annualized). Previously, the company paid $1.38 per share.
Shares must be purchased before the ex-div date of May 12, 2023 to qualify for the dividend. Shareholders of record as of May 15, 2023 will receive the payment on May 16, 2023.
At the current share price of $148.02 / share, the stock's dividend yield is 3.72%. Looking back five years and taking a sample every week, the average dividend yield has been 4.92%, the lowest has been 3.74%, and the highest has been 6.20%. The standard deviation of yields is 0.58 (n=129).
The current dividend yield is 2.07 standard deviations below the historical average.
Additionally, the company's dividend payout ratio is 6.10. The payout ratio tells us how much of a company's income is paid out in dividends. A payout ratio of one (1.0) means 100% of the company's income is paid in a dividend. A payout ratio greater than one means the company is dipping into savings in order to maintain its dividend - not a healthy situation. Companies with few growth prospects are expected to pay out most of their income in dividends, which typically means a payout ratio between 0.5 and 1.0. Companies with good growth prospects are expected to retain some earnings in order to invest in those growth prospects, which translates to a payout ratio of zero to 0.5.
The company has not increased its dividend in the last three years.
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What is the Fund Sentiment?
There are 87 funds or institutions reporting positions in PG&E. This is a decrease of 3 owner(s) or 3.33% in the last quarter. Average portfolio weight of all funds dedicated to PCGU is 0.60%, an increase of 19.33%. Total shares owned by institutions decreased in the last three months by 1.88% to 16,102K shares.
Analyst Price Forecast Suggests 11.89% Upside
As of April 6, 2023, the average one-year price target for PG&E is $165.62. The forecasts range from a low of $113.02 to a high of $198.84. The average price target represents an increase of 11.89% from its latest reported closing price of $148.02.
See our leaderboard of companies with the largest price target upside.
The projected annual revenue for PG&E is $23,495MM, an increase of 8.37%. The projected annual non-GAAP EPS is $1.23.
What are Other Shareholders Doing?
Citadel Advisors holds 1K shares representing 0.00% ownership of the company. In it's prior filing, the firm reported owning 114K shares, representing a decrease of 7,733.06%. The firm decreased its portfolio allocation in PCGU by 84.90% over the last quarter.
Third Point holds 471K shares representing 0.02% ownership of the company. No change in the last quarter.
UBS Group holds 1K shares representing 0.00% ownership of the company. In it's prior filing, the firm reported owning 1K shares, representing an increase of 41.24%. The firm increased its portfolio allocation in PCGU by 82.85% over the last quarter.
PHYIX - PUTNAM HIGH YIELD FUND Class Y Shares holds 14K shares representing 0.00% ownership of the company. No change in the last quarter.
Css holds 666K shares representing 0.03% ownership of the company. In it's prior filing, the firm reported owning 306K shares, representing an increase of 54.03%. The firm increased its portfolio allocation in PCGU by 228.12% over the last quarter.
This story originally appeared on Fintel.