Pacific Gas & Electric (NYSE:PCG) Director Mark Ferguson III Sells 8,675 Shares of Stock

Pacific Gas & Electric Co. (NYSE:PCG) Director Mark Ferguson III sold 8,675 shares of Pacific Gas & Electric stock in a transaction that occurred on Wednesday, November 11th. The stock was sold at an average price of $13.22, for a total transaction of $114,683.50. Following the completion of the transaction, the director directly owned 2,000 shares in the company, valued at approximately $26,440. The trade was a 81.26% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link.

Pacific Gas & Electric Stock Up 2.2%

Shares of NYSE PCG traded up $0.29 during trading hours on Friday, hitting $13.26. 20,064,931 shares of the stock were exchanged, compared to its average volume of 29,181,124. The company has a quick ratio of 0.97, a current ratio of 1.03 and a debt-to-equity ratio of 1.85. The company has a market cap of $35.53 billion, a PE ratio of 9.82, a PEG ratio of 1.04 and a beta of 0.17. The firm has a fifty day moving average price of $13.05 and a 200-day moving average price of $16.12. Pacific Gas & Electric Co. has a 12 month low of $11.77 and a 12 month high of $19.16.

Pacific Gas & Electric (NYSE:PCG) last posted its earnings results on Thursday, October 22nd. The utilities provider reported $0.41 EPS for the quarter, missing analysts’ consensus estimates of $0.42 by ($0.01). Pacific Gas & Electric had a net margin of 12.00% and a return on equity of 11.49%. The firm had revenue of $6.19 billion for the quarter, compared to analysts’ expectations of $6.82 billion. During the same period in the previous year, the company earned $0.50 EPS. The company’s revenue was down 1.0% on a year-over-year basis. On average, sell-side analysts expect that Pacific Gas & Electric Co. will post 1.65 EPS for the current year.

Pacific Gas & Electric Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, October 15th. Stockholders of record on Wednesday, September 30th were given a $0.05 dividend. The ex-dividend date of this dividend was Wednesday, September 30th. This represents a $0.20 dividend on an annualized basis and a dividend yield of 1.5%. Pacific Gas & Electric’s dividend payout ratio (DPR) is presently 14.81%.

Analyst Upgrades and Downgrades

Several research analysts recently issued reports on PCG shares. JPMorgan Chase & Co. reduced their target price on Pacific Gas & Electric from $18.00 to $17.00 and set an “overweight” rating on the stock in a research report on Monday, October 12th. Barclays decreased their price target on Pacific Gas & Electric from $18.00 to $17.00 and set an “overweight” rating for the company in a research note on Monday, October 12th. Wells Fargo & Company lowered their price target on Pacific Gas & Electric from $24.00 to $14.00 and set an “equal weight” rating for the company in a report on Friday, October 23rd. BMO Capital Markets boosted their price target on Pacific Gas & Electric from $21.00 to $22.00 and gave the stock a “market perform” rating in a research note on Monday, October 26th. Finally, Weiss Ratings downgraded shares of Pacific Gas & Electric from a “hold (c)” rating to a “hold (c-)” rating in a report on Friday, October 23rd. Seven research analysts have rated the stock with a Buy rating and nine have given a Hold rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $17.21.

Institutional Investors Weigh In On Pacific Gas & Electric

Several institutional investors and hedge funds have recently made changes to their positions in the stock. Performa Ltd US LLC acquired a new position in shares of Pacific Gas & Electric in the 3rd quarter valued at $43,000. Fulcrum Asset Management LLP raised its stake in Pacific Gas & Electric by 4,794.5% in the 3rd quarter. Fulcrum Asset Management LLP now owns 185,795 shares of the utilities provider’s stock worth $2,263,000 after acquiring an additional 181,999 shares during the last quarter. Sterling Capital Management LLC lifted its position in Pacific Gas & Electric by 23.6% during the 3rd quarter. Sterling Capital Management LLC now owns 81,861 shares of the utilities provider’s stock worth $1,003,000 after acquiring an additional 15,622 shares during the period. Fox Hill Wealth Management acquired a new stake in Pacific Gas & Electric during the 2nd quarter worth about $1,818,000. Finally, Rakuten Investment Management Inc. acquired a new stake in Pacific Gas & Electric during the 2nd quarter worth about $6,210,000. 78.56% of the stock is currently owned by institutional investors and hedge funds.

Pacific Gas & Electric Company Profile

Pacific Gas and Electric Company (PG&E) is a regulated utility that provides electricity and natural gas to homes and businesses in Northern and Central California. Its services include generating, purchasing, transmitting and distributing electricity, as well as delivering natural gas through its pipeline network. The utility is a subsidiary of PG&E Corporation, whose common stock trades on the New York Stock Exchange under the symbol PCG. The company traces its roots to California’s early gas and electric utilities and was incorporated in 1905.