Insider Selling: Pacific Gas & Electric (NYSE:PCG) EVP Sells $582,001.66 in Stock

Pacific Gas & Electric Co. (NYSE:PCG) EVP Carla Peterman sold 31,786 shares of the firm’s stock in a transaction dated Monday, March 16th. The shares were sold at an average price of $18.31, for a total transaction of $582,001.66. Following the completion of the sale, the executive vice president owned 195,091 shares of the company’s stock, valued at approximately $3,572,116.21. The trade was a 14.01% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink.

Pacific Gas & Electric Stock Performance

NYSE PCG opened at $18.18 on Thursday. The company has a current ratio of 0.97, a quick ratio of 0.92 and a debt-to-equity ratio of 1.84. The business’s 50 day moving average is $17.00 and its two-hundred day moving average is $16.19. Pacific Gas & Electric Co. has a 12-month low of $12.97 and a 12-month high of $19.16. The stock has a market capitalization of $39.95 billion, a price-to-earnings ratio of 15.40, a PEG ratio of 0.70 and a beta of 0.33.

Pacific Gas & Electric (NYSE:PCG) last issued its earnings results on Wednesday, February 11th. The utilities provider reported $0.36 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.36. Pacific Gas & Electric had a return on equity of 11.28% and a net margin of 10.84%.The business had revenue of $6.80 billion during the quarter, compared to the consensus estimate of $7.05 billion. During the same period in the prior year, the business posted $0.31 EPS. Research analysts expect that Pacific Gas & Electric Co. will post 1.49 EPS for the current year.

Pacific Gas & Electric Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, April 15th. Stockholders of record on Tuesday, March 31st will be paid a dividend of $0.05 per share. The ex-dividend date of this dividend is Tuesday, March 31st. This represents a $0.20 dividend on an annualized basis and a dividend yield of 1.1%. Pacific Gas & Electric’s dividend payout ratio is 16.95%.

Wall Street Analysts Forecast Growth

Several research analysts have weighed in on the stock. UBS Group upgraded shares of Pacific Gas & Electric from a “neutral” rating to a “buy” rating in a research report on Monday, March 9th. Jefferies Financial Group lowered their price target on Pacific Gas & Electric from $21.00 to $20.00 and set a “buy” rating on the stock in a report on Wednesday, January 28th. TD Cowen reaffirmed a “buy” rating on shares of Pacific Gas & Electric in a research note on Thursday, December 4th. Wells Fargo & Company lifted their price objective on Pacific Gas & Electric from $23.00 to $24.00 and gave the stock an “overweight” rating in a report on Tuesday, January 20th. Finally, Morgan Stanley set a $23.00 target price on Pacific Gas & Electric in a research report on Friday, February 20th. Eight equities research analysts have rated the stock with a Buy rating, five have given a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $21.36.

Institutional Trading of Pacific Gas & Electric

Several institutional investors and hedge funds have recently modified their holdings of PCG. Root Financial Partners LLC acquired a new stake in shares of Pacific Gas & Electric in the third quarter valued at approximately $27,000. Tobam acquired a new position in shares of Pacific Gas & Electric during the 4th quarter worth approximately $30,000. Versant Capital Management Inc raised its position in shares of Pacific Gas & Electric by 826.2% during the 3rd quarter. Versant Capital Management Inc now owns 1,945 shares of the utilities provider’s stock worth $29,000 after purchasing an additional 1,735 shares during the last quarter. Torren Management LLC purchased a new stake in Pacific Gas & Electric in the 4th quarter valued at approximately $33,000. Finally, Modus Advisors LLC acquired a new stake in Pacific Gas & Electric during the 4th quarter valued at $36,000. Hedge funds and other institutional investors own 78.56% of the company’s stock.

About Pacific Gas & Electric

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.