John Simon Sells 45,607 Shares of Pacific Gas & Electric (NYSE:PCG) Stock

Pacific Gas & Electric Co. (NYSE:PCG) EVP John Simon sold 45,607 shares of Pacific Gas & Electric stock in a transaction on Thursday, February 19th. The stock was sold at an average price of $18.00, for a total value of $820,926.00. Following the sale, the executive vice president directly owned 392,303 shares of the company’s stock, valued at $7,061,454. This represents a 10.41% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink.

Pacific Gas & Electric Stock Performance

Shares of PCG stock traded up $0.19 on Thursday, hitting $18.07. The company’s stock had a trading volume of 20,969,664 shares, compared to its average volume of 22,922,998. Pacific Gas & Electric Co. has a fifty-two week low of $12.97 and a fifty-two week high of $18.38. The company has a market capitalization of $39.73 billion, a PE ratio of 15.32, a PEG ratio of 0.69 and a beta of 0.36. The stock’s 50 day moving average is $15.93 and its 200-day moving average is $15.73. The company has a debt-to-equity ratio of 1.84, a quick ratio of 0.92 and a current ratio of 0.97.

Pacific Gas & Electric (NYSE:PCG) last posted its quarterly earnings data 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 firm had revenue of $6.80 billion during the quarter, compared to the consensus estimate of $7.05 billion. During the same quarter in the previous year, the firm posted $0.31 EPS. Equities research analysts expect that Pacific Gas & Electric Co. will post 1.49 earnings per share for the current fiscal year.

Pacific Gas & Electric Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, January 15th. Investors of record on Wednesday, December 31st were given a dividend of $0.05 per share. This is an increase from Pacific Gas & Electric’s previous quarterly dividend of $0.03. This represents a $0.20 dividend on an annualized basis and a yield of 1.1%. The ex-dividend date of this dividend was Wednesday, December 31st. Pacific Gas & Electric’s dividend payout ratio (DPR) is currently 16.95%.

Wall Street Analysts Forecast Growth

PCG has been the subject of a number of recent analyst reports. TD Cowen reiterated a “buy” rating on shares of Pacific Gas & Electric in a research report on Thursday, December 4th. Wall Street Zen cut Pacific Gas & Electric from a “buy” rating to a “hold” rating in a research report on Saturday, February 14th. Mizuho set a $21.00 price objective on shares of Pacific Gas & Electric in a research report on Wednesday, January 21st. Wells Fargo & Company increased their price objective 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. Finally, Barclays raised their target price on shares of Pacific Gas & Electric from $21.00 to $23.00 and gave the company an “overweight” rating in a report on Wednesday. Seven analysts have rated the stock with a Buy rating, six have assigned a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $20.73.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Root Financial Partners LLC acquired a new position in Pacific Gas & Electric during the third quarter worth about $27,000. Versant Capital Management Inc boosted its stake in shares of Pacific Gas & Electric by 826.2% in the 3rd quarter. Versant Capital Management Inc now owns 1,945 shares of the utilities provider’s stock valued at $29,000 after purchasing an additional 1,735 shares in the last quarter. Torren Management LLC bought a new stake in shares of Pacific Gas & Electric during the 4th quarter valued at approximately $33,000. Cornerstone Planning Group LLC grew its holdings in shares of Pacific Gas & Electric by 3,240.8% during the 3rd quarter. Cornerstone Planning Group LLC now owns 2,372 shares of the utilities provider’s stock valued at $36,000 after purchasing an additional 2,301 shares during the last quarter. Finally, Modus Advisors LLC acquired a new position in Pacific Gas & Electric during the 4th quarter worth approximately $36,000. Institutional investors own 78.56% of the company’s stock.

Pacific Gas & Electric Company Profile

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.