PG&E Corporation (PCG) Releases Earnings Results, Misses Expectations By $-0.26 EPS

PG&E Corporation (PCG) reported quarterly earnings results on Thursday, Jul-28-2016. The company reported $0.66 earnings per share for the quarter, missing the analyst consensus estimate by $-0.26. Analysts had a consensus of $0.92. The company posted revenue of $4169.00 million in the period, compared to analysts expectations of $4331.47 million. The company’s revenue was down -1.1% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.91 EPS.

Many Wall Street Analysts have commented on PG&E Corporation. Company shares were Upgraded by RBC Capital Mkts on Jul 15, 2016 to ” Outperform”, Firm has raised the Price Target to $ 71 from a previous price target of $60 .Company shares were Reiterated by Mizuho on Jun 29, 2016 to “Buy”, Firm has raised the Price Target to $ 67 from a previous price target of $64 .Company shares were Reiterated by Mizuho on May 24, 2016 to “Buy”, Firm has raised the Price Target to $ 64 from a previous price target of $56 .

PG&E Corporation closed down -0.2 points or -0.31% at $63.75 with 25,11,903 shares getting traded on Thursday. Post opening the session at $64.09, the shares hit an intraday low of $62.9 and an intraday high of $64.09 and the price fluctuated in this range throughout the day.Shares ended Thursday session in Red.

In a different news, on Mar 8, 2016, Kent M Harvey (SVP, Finance) sold 17,920 shares at $56.24 per share price. According to the SEC, on Mar 8, 2016, Hyun Park (SVP and General Counsel) sold 6,807 shares at $56.35 per share price. On Mar 8, 2016, John R Simon (EVP-CorpSvcs & Human Resources) sold 3,899 shares at $56.34 per share price, according to the Form-4 filing with the securities and exchange commission.

PG&E Corporation is a holding company. The Company’s primary operating subsidiary is Pacific Gas and Electric Company (the Utility). The Utility’s operations include electric utility operations and natural gas utility operations. It operates in northern and central California. The Utility generates electricity and provides electricity transmission and distribution services throughout its service territory in northern and central California to residential commercial industrial and agricultural customers. The Utility provides natural gas transportation services to customers which include small commercial and residential customers and to non-core customers which include industrial commercial and natural gas-fired electric generation facilities that are connected to the Utility’s gas system in its service territory.

PG&E Corporation

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