Key Points
- Insider sale: Director Kerry Whorton Cooper sold 2,500 shares on March 17 at an average price of $18.68 for about $46,700, reducing her stake to 73,141 shares (a 3.31% decrease), per an SEC filing.
- Earnings and dividend: PG&E reported Q results with EPS of $0.36 (meeting estimates) but revenue of $6.80B (below the $7.05B estimate), and declared a quarterly dividend of $0.05 per share (ex-dividend March 31, pay April 15), equal to a $0.20 annualized payout (yield ~1.1%).
- Analyst outlook and valuation: Analysts are mostly positive (consensus "Moderate Buy" with an average price target of $21.09) while the stock trades around $18.38 with a P/E of about 15.6 and a market cap near $40.4 billion.
Pacific Gas & Electric Co. (NYSE:PCG - Get Free Report) Director Kerry Whorton Cooper sold 2,500 shares of the business's stock in a transaction on Tuesday, March 17th. The stock was sold at an average price of $18.68, for a total value of $46,700.00. Following the completion of the transaction, the director directly owned 73,141 shares of the company's stock, valued at approximately $1,366,273.88. This trade represents a 3.31% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website.
Pacific Gas & Electric Stock Down 0.4%
PCG opened at $18.38 on Wednesday. The firm has a market cap of $40.39 billion, a P/E ratio of 15.57, a PEG ratio of 0.71 and a beta of 0.33. The business's fifty day simple moving average is $16.95 and its 200 day simple moving average is $16.18. Pacific Gas & Electric Co. has a 52 week low of $12.97 and a 52 week high of $19.16. The company has a quick ratio of 0.92, a current ratio of 0.97 and a debt-to-equity ratio of 1.84.
Pacific Gas & Electric (NYSE:PCG - Get Free Report) last released its earnings results on Wednesday, February 11th. The utilities provider reported $0.36 earnings per share (EPS) for the quarter, meeting analysts' consensus estimates of $0.36. Pacific Gas & Electric had a net margin of 10.84% and a return on equity of 11.28%. The company had revenue of $6.80 billion for the quarter, compared to analyst estimates of $7.05 billion. During the same period in the prior year, the firm earned $0.31 EPS. As a group, equities research analysts anticipate that Pacific Gas & Electric Co. will post 1.49 EPS for the current fiscal year.
Pacific Gas & Electric Dividend Announcement
The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 15th. Investors of record on Tuesday, March 31st will be paid a dividend of $0.05 per share. The ex-dividend date of this dividend is Tuesday, March 31st. This represents a $0.20 annualized dividend and a dividend yield of 1.1%. Pacific Gas & Electric's dividend payout ratio is presently 16.95%.
Analysts Set New Price Targets
Several research analysts have weighed in on PCG shares. Barclays boosted their price target on Pacific Gas & Electric from $21.00 to $23.00 and gave the company an "overweight" rating in a report on Wednesday, February 18th. TD Cowen reiterated a "buy" rating on shares of Pacific Gas & Electric in a research report on Thursday, December 4th. UBS Group raised Pacific Gas & Electric from a "neutral" rating to a "buy" rating in a research note on Monday, March 9th. Jefferies Financial Group dropped their price objective on shares of Pacific Gas & Electric from $21.00 to $20.00 and set a "buy" rating for the company in a research note on Wednesday, January 28th. Finally, Morgan Stanley set a $23.00 target price on shares of Pacific Gas & Electric in a research report on Friday, February 20th. Eight analysts have rated the stock with a Buy rating, five have issued a Hold rating and one has issued a Sell rating to the company's stock. According to MarketBeat, Pacific Gas & Electric has a consensus rating of "Moderate Buy" and a consensus price target of $21.09.
Get Our Latest Analysis on PCG
Institutional Inflows and Outflows
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Root Financial Partners LLC acquired a new position in shares of Pacific Gas & Electric in the 3rd quarter valued at about $27,000. Versant Capital Management Inc lifted its position in Pacific Gas & Electric by 826.2% during the 3rd quarter. Versant Capital Management Inc now owns 1,945 shares of the utilities provider's stock worth $29,000 after acquiring an additional 1,735 shares in the last quarter. Tobam purchased a new position in Pacific Gas & Electric in the 4th quarter worth approximately $30,000. Torren Management LLC acquired a new stake in Pacific Gas & Electric in the fourth quarter valued at approximately $33,000. Finally, Cornerstone Planning Group LLC grew its position in Pacific Gas & Electric by 3,240.8% in the third quarter. Cornerstone Planning Group LLC now owns 2,372 shares of the utilities provider's stock valued at $36,000 after acquiring an additional 2,301 shares in the last quarter. Institutional investors and hedge funds own 78.56% of the company's stock.
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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