Pacific Gas & Electric Co. (NYSE:PCG - Get Free Report) EVP Jason Glickman sold 47,264 shares of the company's stock in a transaction dated Tuesday, April 28th. The stock was sold at an average price of $16.35, for a total value of $772,766.40. Following the sale, the executive vice president owned 136,433 shares of the company's stock, valued at approximately $2,230,679.55. This trade represents a 25.73% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink.
Pacific Gas & Electric Price Performance
Shares of NYSE:PCG opened at $16.28 on Wednesday. The business has a 50 day moving average price of $17.86 and a 200 day moving average price of $16.63. Pacific Gas & Electric Co. has a twelve month low of $12.97 and a twelve month high of $19.16. The company has a market cap of $35.77 billion, a price-to-earnings ratio of 12.62, a PEG ratio of 0.63 and a beta of 0.34. The company has a quick ratio of 1.13, a current ratio of 1.20 and a debt-to-equity ratio of 1.88.
Pacific Gas & Electric (NYSE:PCG - Get Free Report) last posted its quarterly earnings results on Thursday, April 23rd. The utilities provider reported $0.43 EPS for the quarter, beating the consensus estimate of $0.39 by $0.04. The firm had revenue of $6.88 billion during the quarter, compared to analysts' expectations of $6.20 billion. Pacific Gas & Electric had a return on equity of 11.95% and a net margin of 11.44%.The company's revenue for the quarter was up 15.0% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.33 EPS. Pacific Gas & Electric has set its FY 2026 guidance at 1.640-1.660 EPS. Research analysts predict that Pacific Gas & Electric Co. will post 1.65 earnings per share for the current year.
Pacific Gas & Electric Dividend Announcement
The company also recently declared a quarterly dividend, which was paid on Wednesday, April 15th. Shareholders of record on Tuesday, March 31st were issued a $0.05 dividend. The ex-dividend date of this dividend was Tuesday, March 31st. This represents a $0.20 annualized dividend and a yield of 1.2%. Pacific Gas & Electric's dividend payout ratio is 15.50%.
Hedge Funds Weigh In On Pacific Gas & Electric
A number of hedge funds have recently modified their holdings of PCG. SG Americas Securities LLC raised its holdings in shares of Pacific Gas & Electric by 366.6% in the 1st quarter. SG Americas Securities LLC now owns 2,984,809 shares of the utilities provider's stock worth $52,443,000 after buying an additional 2,345,120 shares in the last quarter. Pinebridge Investments LLC bought a new stake in Pacific Gas & Electric during the 4th quarter worth approximately $28,967,000. Geode Capital Management LLC boosted its stake in Pacific Gas & Electric by 1.9% in the fourth quarter. Geode Capital Management LLC now owns 62,134,132 shares of the utilities provider's stock worth $1,019,297,000 after purchasing an additional 1,132,249 shares in the last quarter. BI Asset Management Fondsmaeglerselskab A S boosted its stake in Pacific Gas & Electric by 499.7% in the second quarter. BI Asset Management Fondsmaeglerselskab A S now owns 433,064 shares of the utilities provider's stock worth $6,037,000 after purchasing an additional 360,845 shares in the last quarter. Finally, Mediolanum International Funds Ltd boosted its stake in Pacific Gas & Electric by 49.9% in the third quarter. Mediolanum International Funds Ltd now owns 947,127 shares of the utilities provider's stock worth $14,264,000 after purchasing an additional 315,133 shares in the last quarter. 78.56% of the stock is owned by institutional investors and hedge funds.
Wall Street Analysts Forecast Growth
PCG has been the subject of several recent research reports. Mizuho set a $21.00 price target on Pacific Gas & Electric in a report on Wednesday, January 21st. JPMorgan Chase & Co. upped their price target on Pacific Gas & Electric from $21.00 to $24.00 and gave the company an "overweight" rating in a report on Wednesday, March 18th. Truist Financial initiated coverage on Pacific Gas & Electric in a report on Monday, April 20th. They issued a "buy" rating and a $23.00 price target for the company. Morgan Stanley set a $23.00 price target on Pacific Gas & Electric in a report on Friday, February 20th. Finally, Jefferies Financial Group reiterated a "hold" rating and issued a $19.00 price objective (down from $20.00) on shares of Pacific Gas & Electric in a research note on Monday, March 23rd. One analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating, four have issued a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, Pacific Gas & Electric presently has an average rating of "Moderate Buy" and an average target price of $22.40.
Check Out Our Latest Stock Analysis on PCG
Trending Headlines about Pacific Gas & Electric
Here are the key news stories impacting Pacific Gas & Electric this week:
Pacific Gas & Electric Company Profile
(
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.
Further Reading
This instant news alert was generated by narrative science technology and financial data from InsiderTrades.com in order to provide readers with the fastest and most accurate reporting. Please send any questions or comments about this story to [email protected].
