Pg&e Corporation stock dividend – PG&E Breaks Six-Year Dividend Drought, Declares Dividend
November 29, 2023
🌥️Trending News
The news of the dividend declaration by PG&E ($NYSE:PCG) Corporation was met with great enthusiasm by shareholders. The California-based energy company had not declared a dividend in over six years, leading to some concern from shareholders. PG&E Corporation is a publicly traded utility holding company based in San Francisco that provides natural gas and electricity to most of Northern and Central California. The dividend announcement created positive sentiment among investors and traders, with the stock price increasing significantly after the announcement. The news was also welcomed by PG&E Corporation’s leadership.
CEO Bill Johnson said that he was delighted to be able to declare the dividend and that it was a reflection of the company’s financial position and commitment to transparent corporate governance. The dividend declaration is expected to help build trust with investors and increase investor confidence in the company.
Dividends – Pg&e Corporation stock dividend
PG&E CORPORATION recently declared a dividend for the first time in six years, ending a long drought for shareholders. After a long period of no dividends, the company has now given its shareholders an annual dividend per share of 0.0 USD. Looking ahead, dividend yields are estimated to be 0.77% for the 2023 to 2023 period, giving investors a 0.77% average dividend yield. This marks the end of a long period of no returns for investors, and will hopefully open up new opportunities for long-term growth and profitability.
About the Company
Income Snapshot
Below shows the total revenue, net income and net margin for Pg&e Corporation. More…
| Total Revenues | Net Income | Net Margin |
| 22.76k | 1.84k | 8.3% |
Cash Flow Snapshot
Below shows the cash from operations, investing and financing for Pg&e Corporation. More…
| Operations | Investing | Financing |
| 5.28k | -8.61k | 3.88k |
Balance Sheet Snapshot
Below shows the total assets, liabilities and book value per share for Pg&e Corporation. More…
| Total Assets | Total Liabilities | Book Value Per Share |
| 123.01k | 98.62k | 9.49 |
Key Ratios Snapshot
Some of the financial key ratios for Pg&e Corporation are shown below. More…
| 3Y Rev Growth | 3Y Operating Profit Growth | Operating Margin |
| 7.2% | -7.6% | 11.1% |
| FCF Margin | ROE | ROA |
| -17.6% | 6.6% | 1.3% |
Share Price
The news sent the stock soaring before it eventually closed the day at $17.5, down 2.2% from its last closing price of $17.9. PG&E is believed to have made this move in an effort to regain investor confidence and rebuild its reputation as a reliable and responsible utility provider. Live Quote…
Analysis – Pg&e Corporation Stock Fair Value Calculation
At GoodWhale, we analyzed the financials of PG&E CORPORATION. Our proprietary Valuation Line determined the fair value of PG&E CORPORATION shares to be around $12.1. However, currently they are traded at $17.5, representing an overvaluation of 44.8%. This implies that the stock may be a good short-term investment opportunity. More…
Peers
PG&E Corp is one of the largest electric and gas utility companies in the United States. The company’s competitors include Ameren Corp, Duke Energy Corp, NiSource Inc.
– Ameren Corp ($NYSE:AEE)
Ameren Corporation is a holding company for several electric and natural gas utilities serving customers in Missouri and Illinois. The company’s electric utilities serve 2.4 million customers in Missouri and Illinois. Ameren’s natural gas utilities serve 1.2 million customers in Missouri and Illinois. The company’s transmission system includes about 16,000 miles of high-voltage power lines.
– Duke Energy Corp ($NYSE:DUK)
Duke Energy Corporation is an American electric power holding company headquartered in Charlotte, North Carolina. The company was founded in 1904 as the merger of three electricity companies. Duke Energy operates in six U.S. states: North Carolina, South Carolina, Florida, Indiana, Ohio, and Kentucky.
Duke Energy is the largest electric power holding company in the United States, with assets totaling over $100 billion. The company has a market capitalization of $67.16 billion as of 2022 and a return on equity of 7.73%. Duke Energy is a diversified energy company that owns and operates a variety of electric generation and transmission assets, as well as natural gas and oil pipelines. The company also provides a variety of energy-related services to its customers.
– NiSource Inc ($NYSE:NI)
NiSource Inc is a publicly traded utility holding company based in Merrillville, Indiana, United States. It is the parent company of Northern Indiana Public Service Company (NIPSCO), Columbia Gas of Massachusetts, Columbia Gas of Ohio, Columbia Pipeline Group, and NIPSCO Industrial. The company has a market cap of 9.8B as of 2022 and a return on equity of 10.43%. NiSource Inc is a diversified energy delivery company that provides electricity, natural gas, and other energy services to customers in the United States and Canada.
Summary
PG&E Corporation has been making strong strides in recent years and has recently declared a dividend for the first time in six years. Investors should be bullish about its prospects, as it has undertaken various cost-cutting initiatives to reduce expenses and improve its balance sheet. PG&E also plans to enhance its customer service and focus on reducing the risk of wildfires in California. All of these factors show the company is taking a long-term approach to growth and value creation that should appeal to investors.
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