Pacific Gas & Electric (NYSE:PCG) Director John Larsen Purchases 7,500 Shares

Pacific Gas & Electric Co. (NYSE:PCG) Director John Larsen bought 7,500 shares of the firm’s stock in a transaction on Tuesday, November 4th. The stock was acquired at an average cost of $15.96 per share, with a total value of $119,700.00. Following the completion of the transaction, the director directly owned 18,111 shares of the company’s stock, valued at approximately $289,051.56. This represents a 70.68% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which can be accessed through the SEC website.

Pacific Gas & Electric Stock Up 0.9%

PCG stock traded up $0.14 during trading hours on Wednesday, hitting $16.30. The company’s stock had a trading volume of 33,821,416 shares, compared to its average volume of 23,653,625. The company has a quick ratio of 0.89, a current ratio of 0.94 and a debt-to-equity ratio of 1.81. The company 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. Pacific Gas & Electric Co. has a 12 month low of $12.97 and a 12 month high of $21.72. The stock has a 50 day moving average price of $15.63 and a two-hundred day moving average price of $15.41.

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

Pacific Gas & Electric Announces Dividend

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

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in PCG. Root Financial Partners LLC acquired a new position in Pacific Gas & Electric during the third quarter worth $27,000. Versant Capital Management Inc raised its position in Pacific Gas & Electric by 826.2% during the third 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. Costello Asset Management INC bought a new stake in Pacific Gas & Electric during the first quarter worth $31,000. Cornerstone Planning Group LLC raised its position in Pacific Gas & Electric by 3,240.8% during the third quarter. Cornerstone Planning Group LLC now owns 2,372 shares of the utilities provider’s stock worth $36,000 after acquiring an additional 2,301 shares in the last quarter. Finally, Safe Harbor Fiduciary LLC bought a new stake in Pacific Gas & Electric during the first quarter worth $39,000. Institutional investors and hedge funds own 78.56% of the company’s stock.

Analyst Ratings Changes

Several analysts have recently weighed in on the stock. Weiss Ratings reaffirmed a “hold (c-)” rating on shares of Pacific Gas & Electric in a report on Wednesday, October 8th. Morgan Stanley set a $21.00 price target on shares of Pacific Gas & Electric and gave the stock an “outperform” rating in a research report on Wednesday, October 22nd. Wells Fargo & Company upgraded Pacific Gas & Electric to a “strong-buy” rating in a report on Tuesday, October 28th. TD Cowen started coverage on shares of Pacific Gas & Electric in a report on Thursday, October 16th. They set a “buy” rating and a $21.00 price objective for the company. Finally, BMO Capital Markets upped their price target on shares of Pacific Gas & Electric from $23.00 to $25.00 and gave the company an “outperform” rating in a report on Tuesday, October 14th. Two 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. According to MarketBeat, Pacific Gas & Electric has an average rating of “Moderate Buy” and an average target price 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.