Pacific Gas & Electric (NYSE:PCG) Director Purchases $119,700.00 in Stock

Pacific Gas & Electric Co. (NYSE:PCG) Director John Larsen purchased 7,500 shares of the company’s stock in a transaction dated Tuesday, November 4th. The stock was purchased at an average price of $15.96 per share, for a total transaction of $119,700.00. Following the completion of the purchase, the director owned 18,111 shares in the company, valued at approximately $289,051.56. The trade was a 70.68% increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link.

Pacific Gas & Electric Stock Performance

Shares of PCG stock traded up $0.14 during mid-day trading on Wednesday, reaching $16.30. 33,821,416 shares of the company’s stock traded hands, compared to its average volume of 23,653,625. The firm has a market capitalization of $35.83 billion, a PE ratio of 13.70, a price-to-earnings-growth ratio of 0.66 and a beta of 0.59. The company has a debt-to-equity ratio of 1.81, a quick ratio of 0.89 and a current ratio of 0.94. The firm has a 50 day moving average price of $15.63 and a two-hundred day moving average price of $15.41. Pacific Gas & Electric Co. has a 12 month low of $12.97 and a 12 month high of $21.72.

Pacific Gas & Electric (NYSE:PCG) last issued its earnings results on Monday, May 15th. The utilities provider reported $0.30 earnings per share for the quarter. The company had revenue of $5.80 billion during the quarter. Pacific Gas & Electric had a net margin of 10.93% and a return on equity of 11.10%. On average, research analysts forecast that Pacific Gas & Electric Co. will post 1.49 EPS for the current year.

Pacific Gas & Electric Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, October 15th. Stockholders of record on Tuesday, September 30th were given a dividend of $0.025 per share. This represents a $0.10 annualized dividend and a dividend yield of 0.6%. The ex-dividend date was Tuesday, September 30th. Pacific Gas & Electric’s dividend payout ratio is currently 8.40%.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the company. Plato Investment Management Ltd lifted its position in Pacific Gas & Electric by 278.2% in the 1st quarter. Plato Investment Management Ltd now owns 86,665 shares of the utilities provider’s stock valued at $1,505,000 after purchasing an additional 63,747 shares during the last quarter. Strs Ohio grew its stake in Pacific Gas & Electric by 23.6% during the 2nd quarter. Strs Ohio now owns 1,174,404 shares of the utilities provider’s stock valued at $16,371,000 after acquiring an additional 223,904 shares in the last quarter. Silver Point Capital L.P. purchased a new position in Pacific Gas & Electric during the first quarter valued at approximately $42,091,000. Cresset Asset Management LLC grew its position in Pacific Gas & Electric by 76.6% during the first quarter. Cresset Asset Management LLC now owns 24,692 shares of the utilities provider’s stock valued at $425,000 after purchasing an additional 10,711 shares in the last quarter. Finally, Alliancebernstein L.P. grew its position in Pacific Gas & Electric by 2.0% during the first quarter. Alliancebernstein L.P. now owns 2,382,058 shares of the utilities provider’s stock valued at $40,924,000 after purchasing an additional 45,806 shares in the last quarter. 78.56% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several equities analysts recently commented on the stock. TD Cowen assumed coverage on shares of Pacific Gas & Electric in a report on Thursday, October 16th. They set a “buy” rating and a $21.00 price target on the stock. BMO Capital Markets raised their target price on shares of Pacific Gas & Electric from $23.00 to $25.00 and gave the company an “outperform” rating in a research note on Tuesday, October 14th. Barclays raised their target price on shares of Pacific Gas & Electric from $20.00 to $21.00 and gave the stock an “overweight” rating in a report on Wednesday, October 1st. Morgan Stanley set a $21.00 target price on shares of Pacific Gas & Electric and gave the company an “outperform” rating in a research report on Wednesday, October 22nd. Finally, Jefferies Financial Group lifted their target price on shares of Pacific Gas & Electric from $20.00 to $21.00 and gave the stock a “buy” rating in a research note on Wednesday, October 22nd. Two equities research analysts have rated the stock with a Strong Buy rating, seven have assigned a Buy rating and six have assigned a Hold rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $20.64.

Pacific Gas & Electric Company Profile

PG&E Corp. operates as a holding company, which engages in generation, transmission, and distribution of electricity and natural gas to customers. It specializes in energy, utility, power, gas, electricity, solar and sustainability. The company was founded in 1995 and is headquartered in Oakland, CA.