Key Points
- PG&E director Mark Ferguson III sold 8,675 shares for about $114,684, reducing his direct stake by 81.26% to 2,000 shares.
- PG&E’s latest quarter fell short of expectations: earnings were $0.41 per share versus $0.42 forecast, while revenue of $6.19 billion missed the $6.82 billion consensus.
- Analysts have a consensus Hold rating and an average price target of $17.21; shares recently traded at $13.26.
Pacific Gas & Electric Co. (NYSE:PCG - Get Free Report) Director Mark Ferguson III sold 8,675 shares of Pacific Gas & Electric stock in a transaction dated Wednesday, November 11th. The stock was sold at an average price of $13.22, for a total value of $114,683.50. Following the sale, the director directly owned 2,000 shares of the company's stock, valued at $26,440. This trade represents a 81.26% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink.
Pacific Gas & Electric Stock Performance
NYSE PCG traded up $0.29 during trading hours on Friday, reaching $13.26. The stock had a trading volume of 20,064,931 shares, compared to its average volume of 29,181,124. The stock has a fifty day moving average of $13.05 and a 200 day moving average of $16.12. The stock has a market cap of $35.53 billion, a P/E ratio of 9.82, a price-to-earnings-growth ratio of 1.04 and a beta of 0.17. Pacific Gas & Electric Co. has a 52-week low of $11.77 and a 52-week high of $19.16. The company has a debt-to-equity ratio of 1.85, a quick ratio of 0.97 and a current ratio of 1.03.
Pacific Gas & Electric (NYSE:PCG - Get Free Report) last posted its quarterly earnings results on Thursday, October 22nd. The utilities provider reported $0.41 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.42 by ($0.01). Pacific Gas & Electric had a return on equity of 11.49% and a net margin of 12.00%. The business had revenue of $6.19 billion for the quarter, compared to analysts' expectations of $6.82 billion. During the same period in the prior year, the business posted $0.50 earnings per share. The business's quarterly revenue was down 1.0% compared to the same quarter last year. Sell-side analysts predict that Pacific Gas & Electric Co. will post 1.65 earnings per share for the current year.
Pacific Gas & Electric Dividend Announcement
The firm also recently disclosed a quarterly dividend, which was paid on Thursday, October 15th. Stockholders of record on Wednesday, September 30th were issued a $0.05 dividend. This represents a $0.20 annualized dividend and a dividend yield of 1.5%. The ex-dividend date of this dividend was Wednesday, September 30th. Pacific Gas & Electric's dividend payout ratio is 14.81%.
Institutional Investors Weigh In On Pacific Gas & Electric
Several hedge funds have recently bought and sold shares of the stock. Gallagher Fiduciary Advisors LLC purchased a new stake in Pacific Gas & Electric during the second quarter worth $300,895,000. Legal & General Group Plc acquired a new stake in Pacific Gas & Electric during the second quarter valued at $398,915,000. Canada Pension Plan Investment Board acquired a new stake in Pacific Gas & Electric during the second quarter valued at $320,820,000. Barrow Hanley Mewhinney & Strauss LLC purchased a new position in Pacific Gas & Electric in the second quarter valued at $314,855,000. Finally, Man Group plc purchased a new position in Pacific Gas & Electric in the second quarter valued at $188,513,000. Hedge funds and other institutional investors own 78.56% of the company's stock.
Wall Street Analyst Weigh In
A number of analysts have recently weighed in on the stock. Ladenburg Thalmann & Co. Inc. cut their price objective on shares of Pacific Gas & Electric from $22.00 to $15.50 and set a "buy" rating on the stock in a research note on Tuesday, October 6th. Bank of America boosted their target price on shares of Pacific Gas & Electric from $13.00 to $14.00 in a research report on Tuesday, September 8th. Wells Fargo & Company lowered their price target on shares of Pacific Gas & Electric from $24.00 to $14.00 and set an "equal weight" rating on the stock in a report on Friday, October 23rd. Jefferies Financial Group lowered their price target on shares of Pacific Gas & Electric from $19.00 to $14.00 in a report on Wednesday, October 21st. Finally, UBS Group increased their price target on Pacific Gas & Electric from $14.00 to $15.00 and gave the stock a "neutral" rating in a research report on Friday, October 30th. Seven investment analysts have rated the stock with a Buy rating and nine have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and an average price target of $17.21.
Get Our Latest Analysis on Pacific Gas & Electric
Pacific Gas & Electric Company Profile
(
Get Free Report)
Pacific Gas and Electric Company (PG&E) is a regulated utility that provides electricity and natural gas to homes and businesses in Northern and Central California. Its services include generating, purchasing, transmitting and distributing electricity, as well as delivering natural gas through its pipeline network. The utility is a subsidiary of PG&E Corporation, whose common stock trades on the New York Stock Exchange under the symbol PCG. The company traces its roots to California's early gas and electric utilities and was incorporated in 1905.
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