Insider Selling: Pacific Gas & Electric (NYSE:PCG) EVP Sells $2,848,500.00 in Stock

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

Pacific Gas & Electric Stock Up 3.6%

NYSE:PCG traded up $0.64 during trading hours on Tuesday, hitting $18.23. The company’s stock had a trading volume of 8,671,612 shares, compared to its average volume of 20,859,313. Pacific Gas & Electric Co. has a 52-week low of $13.31 and a 52-week high of $19.16. The company has a current ratio of 1.22, a quick ratio of 1.15 and a debt-to-equity ratio of 1.90. The stock has a market capitalization of $48.87 billion, a P/E ratio of 13.24, a price-to-earnings-growth ratio of 1.16 and a beta of 0.27. The stock has a fifty day moving average of $16.91 and a 200-day moving average of $17.00.

Pacific Gas & Electric (NYSE:PCG) last announced its quarterly earnings results on Thursday, July 23rd. The utilities provider reported $0.40 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.36 by $0.04. The company had revenue of $5.90 billion during the quarter, compared to the consensus estimate of $6.20 billion. Pacific Gas & Electric had a return on equity of 12.48% and a net margin of 12.25%.Pacific Gas & Electric’s revenue for the quarter was up .1% on a year-over-year basis. During the same period in the previous year, the business earned $0.31 EPS. Pacific Gas & Electric has set its FY 2026 guidance at 1.640-1.660 EPS. On average, equities analysts forecast 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 declared a quarterly dividend, which was paid on Wednesday, July 15th. Investors of record on Tuesday, June 30th were issued a $0.05 dividend. This represents a $0.20 dividend on an annualized basis and a yield of 1.1%. The ex-dividend date of this dividend was Tuesday, June 30th. Pacific Gas & Electric’s dividend payout ratio is 14.49%.

Institutional Investors Weigh In On Pacific Gas & Electric

Institutional investors and hedge funds have recently made changes to their positions in the business. SG Americas Securities LLC grew its holdings in shares of Pacific Gas & Electric by 366.6% during the first quarter. SG Americas Securities LLC now owns 2,984,809 shares of the utilities provider’s stock worth $52,443,000 after buying an additional 2,345,120 shares during the last quarter. Pinebridge Investments LLC acquired a new stake in Pacific Gas & Electric during the 4th quarter worth approximately $28,967,000. Geode Capital Management LLC grew its stake in shares of Pacific Gas & Electric by 1.9% in the 4th quarter. Geode Capital Management LLC now owns 62,134,132 shares of the utilities provider’s stock valued at $1,019,297,000 after purchasing an additional 1,132,249 shares during the last quarter. BI Asset Management Fondsmaeglerselskab A S increased its holdings in shares of Pacific Gas & Electric by 499.7% in the second quarter. BI Asset Management Fondsmaeglerselskab A S now owns 433,064 shares of the utilities provider’s stock valued at $6,037,000 after purchasing an additional 360,845 shares during the period. Finally, Harrison Street Private Wealth LLC purchased a new stake in shares of Pacific Gas & Electric during the first quarter worth approximately $3,643,000. 78.56% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several analysts have recently weighed in on the stock. Wall Street Zen downgraded shares of Pacific Gas & Electric from a “buy” rating to a “hold” rating in a research report on Saturday. Truist Financial cut their price target on shares of Pacific Gas & Electric from $23.00 to $22.00 and set a “buy” rating on the stock in a research note on Monday, May 18th. JPMorgan Chase & Co. dropped their price objective on Pacific Gas & Electric from $24.00 to $23.00 and set an “overweight” rating on the stock in a report on Friday, May 15th. Morgan Stanley set a $22.00 target price on Pacific Gas & Electric in a research report on Thursday, May 21st. Finally, Wells Fargo & Company reissued an “overweight” rating and issued a $25.00 target price on shares of Pacific Gas & Electric in a report on Tuesday, April 21st. Seven investment analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $22.30.

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.