Insider Selling: Pacific Gas & Electric (NYSE:PCG) EVP Sells 4,393 Shares of Stock

Pacific Gas & Electric Co. (NYSE:PCG) EVP John Simon sold 4,393 shares of the company’s stock in a transaction dated Wednesday, February 18th. The shares were sold at an average price of $18.01, for a total transaction of $79,117.93. Following the transaction, the executive vice president owned 437,910 shares in the company, valued at $7,886,759.10. This represents a 0.99% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this link.

Pacific Gas & Electric Stock Up 1.1%

Pacific Gas & Electric stock traded up $0.19 during midday trading on Thursday, reaching $18.07. The stock had a trading volume of 20,969,664 shares, compared to its average volume of 22,922,998. The company has a fifty day moving average price of $15.93 and a two-hundred day moving average price of $15.73. Pacific Gas & Electric Co. has a 12 month low of $12.97 and a 12 month high of $18.38. 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 company has a market capitalization of $39.73 billion, a P/E ratio of 15.32, a PEG ratio of 0.69 and a beta of 0.36.

Pacific Gas & Electric (NYSE:PCG) last announced its quarterly earnings data on Wednesday, February 11th. The utilities provider reported $0.36 EPS for the quarter, meeting 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 firm had revenue of $6.80 billion during the quarter, compared to analysts’ expectations of $7.05 billion. During the same quarter last year, the firm posted $0.31 earnings per share. As a group, equities analysts expect that Pacific Gas & Electric Co. will post 1.49 EPS for the current fiscal year.

Pacific Gas & Electric Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, January 15th. Stockholders of record on Wednesday, December 31st were issued 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 dividend yield of 1.1%. The ex-dividend date was Wednesday, December 31st. Pacific Gas & Electric’s dividend payout ratio is 16.95%.

Analyst Ratings Changes

A number of equities analysts have issued reports on PCG shares. Mizuho set a $21.00 price target on Pacific Gas & Electric in a research note on Wednesday, January 21st. Morgan Stanley restated an “underperform” rating on shares of Pacific Gas & Electric in a report on Wednesday, January 21st. Barclays upped their price target on Pacific Gas & Electric from $21.00 to $23.00 and gave the stock an “overweight” rating in a report on Wednesday. TD Cowen reissued a “buy” rating on shares of Pacific Gas & Electric in a research report on Thursday, December 4th. Finally, Wells Fargo & Company raised their price objective on Pacific Gas & Electric from $23.00 to $24.00 and gave the company an “overweight” rating in a research note on Tuesday, January 20th. Seven investment analysts have rated the stock with a Buy rating, six have assigned a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $20.73.

Hedge Funds Weigh In On Pacific Gas & Electric

Several institutional investors have recently bought and sold shares of PCG. Root Financial Partners LLC bought a new stake in shares of Pacific Gas & Electric in the third quarter valued at $27,000. Versant Capital Management Inc increased its holdings in 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 worth $29,000 after acquiring an additional 1,735 shares during the last quarter. Torren Management LLC bought a new stake in Pacific Gas & Electric in the 4th quarter valued at about $33,000. Cornerstone Planning Group LLC lifted its holdings 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 valued at $36,000 after purchasing an additional 2,301 shares during the last quarter. Finally, Modus Advisors LLC purchased a new stake in Pacific Gas & Electric during the fourth quarter valued at about $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.