Pacific Gas & Electric (NYSE:PCG) Hits New 12-Month Low – Here’s What Happened

Pacific Gas & Electric Co. (NYSE:PCG)’s share price hit a new 52-week low on Wednesday . The company traded as low as $12.47 and last traded at $12.5560, with a volume of 3834909 shares changing hands. The stock had previously closed at $12.88.

Wall Street Analysts Forecast Growth

PCG has been the topic of several recent research reports. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Pacific Gas & Electric in a report on Tuesday, September 1st. UBS Group restated a “neutral” rating and set a $14.00 price objective (down from $19.00) on shares of Pacific Gas & Electric in a report on Tuesday. Wells Fargo & Company cut Pacific Gas & Electric from an “overweight” rating to a “buy” rating in a research note on Monday, August 31st. JPMorgan Chase & Co. cut their price target on Pacific Gas & Electric from $25.00 to $18.00 and set an “overweight” rating on the stock in a report on Wednesday, September 2nd. Finally, Bank of America reiterated a “neutral” rating and set a $13.00 price objective (down from $24.00) on shares of Pacific Gas & Electric in a report on Tuesday, September 1st. Three equities research analysts have rated the stock with a Buy rating and nine have assigned a Hold rating to the company’s stock. According to MarketBeat, Pacific Gas & Electric presently has an average rating of “Hold” and a consensus target price of $17.55.

Pacific Gas & Electric Price Performance

The firm has a 50-day simple moving average of $16.26 and a two-hundred day simple moving average of $16.79. The company has a market capitalization of $33.62 billion, a price-to-earnings ratio of 9.09, a P/E/G ratio of 1.04 and a beta of 0.24. The company has a current ratio of 1.22, a quick ratio of 1.15 and a debt-to-equity ratio of 1.90.

Pacific Gas & Electric (NYSE:PCG) last issued its quarterly earnings data on Thursday, July 23rd. The utilities provider reported $0.40 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.36 by $0.04. Pacific Gas & Electric had a return on equity of 12.48% and a net margin of 12.25%.The business had revenue of $5.90 billion during the quarter, compared to analysts’ expectations of $6.20 billion. During the same quarter in the previous year, the firm posted $0.31 EPS. The company’s revenue for the quarter was up .1% on a year-over-year basis. Pacific Gas & Electric has set its FY 2026 guidance at 1.640-1.660 EPS. As a group, analysts predict that Pacific Gas & Electric Co. will post 1.65 earnings per share for the current fiscal year.

Pacific Gas & Electric Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, October 15th. Investors of record on Wednesday, September 30th will be given a dividend of $0.05 per share. This represents a $0.20 annualized dividend and a yield of 1.6%. The ex-dividend date is Wednesday, September 30th. Pacific Gas & Electric’s dividend payout ratio (DPR) is presently 14.49%.

Insiders Place Their Bets

In related news, Director William Fugate sold 6,500 shares of the business’s stock in a transaction dated Friday, September 4th. The shares were sold at an average price of $13.76, for a total value of $89,440.00. Following the sale, the director directly owned 73,530 shares in the company, valued at approximately $1,011,772.80. The trade was a 8.12% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Marlene Santos sold 158,250 shares of the business’s stock in a transaction on Wednesday, July 22nd. The shares were sold at an average price of $18.00, for a total value of $2,848,500.00. Following the completion of the sale, the executive vice president owned 230,885 shares in the company, valued at $4,155,930. This represents a 40.67% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 166,000 shares of company stock worth $2,960,440 in the last 90 days. Company insiders own 0.22% of the company’s stock.

Institutional Trading of Pacific Gas & Electric

Several institutional investors and hedge funds have recently added to or reduced their stakes in PCG. CoreCap Advisors LLC increased its holdings in Pacific Gas & Electric by 13.1% in the second quarter. CoreCap Advisors LLC now owns 5,843 shares of the utilities provider’s stock valued at $98,000 after buying an additional 677 shares in the last quarter. Fifth Third Wealth Advisors LLC raised its stake in Pacific Gas & Electric by 5.7% during the first quarter. Fifth Third Wealth Advisors LLC now owns 16,368 shares of the utilities provider’s stock worth $288,000 after purchasing an additional 885 shares during the period. Versant Capital Management Inc lifted its stake in shares of Pacific Gas & Electric by 19.6% in the 2nd quarter. Versant Capital Management Inc now owns 6,636 shares of the utilities provider’s stock valued at $112,000 after purchasing an additional 1,088 shares in the last quarter. Keating Financial Advisory Services Inc. purchased a new position in Pacific Gas & Electric in the second quarter valued at about $28,000. Finally, Tobam purchased a new position in shares of Pacific Gas & Electric in the fourth quarter valued at $30,000. 78.56% of the stock is owned by hedge funds and other institutional investors.

Pacific Gas & Electric Company Profile

Pacific Gas & Electric Corporation (NYSE: PCG) is an energy holding company whose principal subsidiary, Pacific Gas and Electric Company, provides regulated electricity and natural gas services. The utility delivers electricity through its transmission and distribution networks and supplies natural gas to residential, commercial, industrial and agricultural customers.

Pacific Gas and Electric Company serves a large portion of Northern and Central California, including the San Francisco Bay Area and the Central Valley.