Marlene Santos Sells 158,250 Shares of Pacific Gas & Electric (NYSE:PCG) Stock

Pacific Gas & Electric Co. (NYSE:PCG) EVP Marlene Santos sold 158,250 shares of the firm’s stock in a transaction on Wednesday, July 22nd. The shares were sold at an average price of $18.00, for a total transaction of $2,848,500.00. Following the completion of the transaction, the executive vice president owned 230,885 shares in the company, valued at $4,155,930. The trade was a 40.67% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Pacific Gas & Electric Stock Performance

Shares of PCG opened at $17.75 on Thursday. The company has a market capitalization of $47.58 billion, a PE ratio of 12.87, a price-to-earnings-growth ratio of 1.16 and a beta of 0.27. The company has a debt-to-equity ratio of 1.90, a current ratio of 1.22 and a quick ratio of 1.15. Pacific Gas & Electric Co. has a one year low of $13.31 and a one year high of $19.16. The company’s fifty day moving average price is $16.97 and its 200 day moving average price is $17.03.

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

Pacific Gas & Electric Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Wednesday, July 15th. Investors of record on Tuesday, June 30th were paid a dividend of $0.05 per share. The ex-dividend date was Tuesday, June 30th. This represents a $0.20 annualized dividend and a yield of 1.1%. Pacific Gas & Electric’s dividend payout ratio is presently 14.49%.

Hedge Funds Weigh In On Pacific Gas & Electric

Several hedge funds and other institutional investors have recently modified their holdings of the stock. Dynamic Technology Lab Private Ltd acquired a new position in Pacific Gas & Electric during the first quarter worth $203,000. Empowered Funds LLC lifted its holdings in shares of Pacific Gas & Electric by 16.4% during the first quarter. Empowered Funds LLC now owns 46,936 shares of the utilities provider’s stock valued at $806,000 after acquiring an additional 6,601 shares during the period. Woodline Partners LP boosted its stake in shares of Pacific Gas & Electric by 41.2% in the 1st quarter. Woodline Partners LP now owns 185,324 shares of the utilities provider’s stock valued at $3,184,000 after purchasing an additional 54,033 shares in the last quarter. Focus Partners Wealth boosted its stake in shares of Pacific Gas & Electric by 93.0% in the 1st quarter. Focus Partners Wealth now owns 83,816 shares of the utilities provider’s stock valued at $1,440,000 after purchasing an additional 40,380 shares in the last quarter. Finally, BI Asset Management Fondsmaeglerselskab A S grew its holdings in shares of Pacific Gas & Electric by 499.7% in the 2nd quarter. BI Asset Management Fondsmaeglerselskab A S now owns 433,064 shares of the utilities provider’s stock worth $6,037,000 after purchasing an additional 360,845 shares during the last quarter. Institutional investors own 78.56% of the company’s stock.

Analyst Ratings Changes

A number of research analysts have recently commented on the company. BMO Capital Markets cut their price target on Pacific Gas & Electric from $28.00 to $27.00 and set an “outperform” rating for the company in a report on Friday, July 24th. Weiss Ratings downgraded shares of Pacific Gas & Electric from a “hold (c+)” rating to a “hold (c)” rating in a research note on Thursday, June 4th. Wells Fargo & Company restated an “overweight” rating and issued a $25.00 price objective on shares of Pacific Gas & Electric in a research note on Tuesday, April 21st. JPMorgan Chase & Co. dropped their target price on shares of Pacific Gas & Electric from $24.00 to $23.00 and set an “overweight” rating on the stock in a research report on Friday, May 15th. Finally, Truist Financial cut their target price on shares of Pacific Gas & Electric from $23.00 to $22.00 and set a “buy” rating for the company in a research note on Monday, May 18th. Seven research analysts have rated the stock with a Buy rating, three have given a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $22.30.

Pacific Gas & Electric Company Profile

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.