Key Points
- EVP Carla Peterman sold 31,786 shares at an average price of $18.31 for roughly $582,001.66, trimming her position by 14.01% to 195,091 shares, according to an SEC filing.
- PG&E announced a quarterly dividend of $0.05, payable April 15 with an ex-dividend/record date of March 31, representing a $0.20 annualized payout and a ~1.1% yield.
- Quarterly results showed $0.36 EPS (in line) but revenue of $6.80B missed the $7.05B estimate, while analysts show a consensus "Moderate Buy" and an average target price of $21.09.
Pacific Gas & Electric Co. (NYSE:PCG - Get Free Report) EVP Carla Peterman sold 31,786 shares of the company's stock in a transaction that occurred on Monday, March 16th. The shares were sold at an average price of $18.31, for a total value of $582,001.66. Following the completion of the sale, the executive vice president directly owned 195,091 shares in the company, valued at approximately $3,572,116.21. The trade was a 14.01% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink.
Pacific Gas & Electric Price Performance
Shares of NYSE:PCG opened at $18.45 on Tuesday. The company has a debt-to-equity ratio of 1.84, a quick ratio of 0.92 and a current ratio of 0.97. The business's fifty day moving average price is $16.90 and its two-hundred day moving average price is $16.16. The stock has a market cap of $40.55 billion, a PE ratio of 15.64, a price-to-earnings-growth ratio of 0.69 and a beta of 0.33. Pacific Gas & Electric Co. has a one year low of $12.97 and a one year high of $19.16.
Pacific Gas & Electric (NYSE:PCG - Get Free Report) last released its quarterly earnings results on Wednesday, February 11th. The utilities provider reported $0.36 earnings per share for the quarter, hitting analysts' consensus estimates of $0.36. Pacific Gas & Electric had a return on equity of 11.28% and a net margin of 10.84%.The company had revenue of $6.80 billion during the quarter, compared to analysts' expectations of $7.05 billion. During the same period in the previous year, the firm posted $0.31 earnings per share. On average, analysts forecast that Pacific Gas & Electric Co. will post 1.49 EPS for the current fiscal year.
Pacific Gas & Electric Dividend Announcement
The company also recently announced a quarterly dividend, which will be paid on Wednesday, April 15th. Investors of record on Tuesday, March 31st will be paid a $0.05 dividend. The ex-dividend date of this dividend is Tuesday, March 31st. This represents a $0.20 annualized dividend and a yield of 1.1%. Pacific Gas & Electric's payout ratio is presently 16.95%.
Hedge Funds Weigh In On Pacific Gas & Electric
Several large investors have recently added to or reduced their stakes in the business. Titleist Asset Management LLC boosted its stake in Pacific Gas & Electric by 2.1% in the 3rd quarter. Titleist Asset Management LLC now owns 43,832 shares of the utilities provider's stock worth $661,000 after buying an additional 882 shares during the last quarter. FreeGulliver LLC lifted its holdings in shares of Pacific Gas & Electric by 7.9% during the 3rd quarter. FreeGulliver LLC now owns 13,482 shares of the utilities provider's stock worth $203,000 after acquiring an additional 987 shares during the period. Commerzbank Aktiengesellschaft FI lifted its holdings in shares of Pacific Gas & Electric by 2.7% during the 4th quarter. Commerzbank Aktiengesellschaft FI now owns 42,734 shares of the utilities provider's stock worth $687,000 after acquiring an additional 1,142 shares during the period. Fifth Third Wealth Advisors LLC boosted its position in shares of Pacific Gas & Electric by 8.1% in the third quarter. Fifth Third Wealth Advisors LLC now owns 17,195 shares of the utilities provider's stock worth $259,000 after acquiring an additional 1,283 shares during the last quarter. Finally, Covestor Ltd boosted its position in shares of Pacific Gas & Electric by 20.6% in the third quarter. Covestor Ltd now owns 9,029 shares of the utilities provider's stock worth $136,000 after acquiring an additional 1,544 shares during the last quarter. 78.56% of the stock is currently owned by hedge funds and other institutional investors.
Analyst Ratings Changes
Several equities research analysts have issued reports on the stock. Wells Fargo & Company raised their price target on shares of Pacific Gas & Electric from $23.00 to $24.00 and gave the stock an "overweight" rating in a research note on Tuesday, January 20th. Weiss Ratings reissued a "hold (c)" rating on shares of Pacific Gas & Electric in a research report on Monday, December 29th. Jefferies Financial Group reduced their price objective on shares of Pacific Gas & Electric from $21.00 to $20.00 and set a "buy" rating on the stock in a research note on Wednesday, January 28th. Morgan Stanley set a $23.00 target price on shares of Pacific Gas & Electric in a research report on Friday, February 20th. Finally, Wall Street Zen cut shares of Pacific Gas & Electric from a "buy" rating to a "hold" rating in a research note on Saturday, February 14th. Eight research analysts have rated the stock with a Buy rating, five have issued a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, Pacific Gas & Electric has an average rating of "Moderate Buy" and a consensus target price of $21.09.
Check Out Our Latest Analysis on Pacific Gas & Electric
About Pacific Gas & Electric
(
Get Free Report)
Pacific Gas & Electric (NYSE: PCG) is an investor-owned utility holding company whose principal operating subsidiary, Pacific Gas and Electric Company, provides electricity and natural gas service in northern and central California. The company's core activities include the generation, procurement, transmission and distribution of electric power, as well as the transmission and distribution of natural gas. PG&E serves a broad mix of residential, commercial, and industrial customers across urban and rural communities within its California service territory.
PG&E's operations encompass utility infrastructure planning and construction, grid operations, customer service and energy procurement.
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