Pacific Gas & Electric (NYSE:PCG) Director Acquires 7,500 Shares of Stock

Pacific Gas & Electric Co. (NYSE:PCG) Director John Larsen bought 7,500 shares of Pacific Gas & Electric stock in a transaction that occurred on Wednesday, September 30th. The stock was bought at an average cost of $12.20 per share, with a total value of $91,500.00. Following the completion of the purchase, the director owned 36,685 shares in the company, valued at approximately $447,557. This trade represents a 25.70% increase in their position. The acquisition was disclosed in a filing with the SEC, which is accessible through this link.

Pacific Gas & Electric Stock Down 0.7%

PCG stock traded down $0.09 during trading hours on Thursday, reaching $12.16. 31,506,360 shares of the stock were exchanged, compared to its average volume of 26,232,674. The firm’s 50-day moving average is $15.62 and its 200-day moving average is $16.54. Pacific Gas & Electric Co. has a 12 month low of $11.77 and a 12 month high of $19.16. The company has a market cap of $32.59 billion, a price-to-earnings ratio of 8.81, a PEG ratio of 0.98 and a beta of 0.24. 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 (NYSE:PCG) last issued its quarterly earnings results on Thursday, July 23rd. The utilities provider reported $0.40 EPS for the quarter, beating analysts’ consensus estimates of $0.36 by $0.04. The company had revenue of $5.90 billion for the quarter, compared to analyst estimates of $6.20 billion. Pacific Gas & Electric had a return on equity of 12.48% and a net margin of 12.25%.The company’s quarterly revenue was up .1% compared to the same quarter last year. During the same period in the previous year, the company posted $0.31 earnings per share. Pacific Gas & Electric has set its FY 2026 guidance at 1.640-1.660 EPS. On average, equities research analysts expect that Pacific Gas & Electric Co. will post 1.65 earnings per share for the current year.

Pacific Gas & Electric Dividend Announcement

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

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in PCG. Keating Financial Advisory Services Inc. bought a new stake in shares of Pacific Gas & Electric during the 2nd quarter worth approximately $28,000. Tobam bought a new position in shares of Pacific Gas & Electric in the fourth quarter valued at $30,000. Modus Advisors LLC acquired a new position in Pacific Gas & Electric during the fourth quarter worth $36,000. Transamerica Financial Advisors LLC acquired a new position in Pacific Gas & Electric during the second quarter worth $57,000. Finally, CoreCap Advisors LLC raised its position in Pacific Gas & Electric by 13.1% during the second quarter. CoreCap Advisors LLC now owns 5,843 shares of the utilities provider’s stock worth $98,000 after acquiring an additional 677 shares in the last quarter. Institutional investors and hedge funds own 78.56% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages have recently weighed in on PCG. Wells Fargo & Company cut shares of Pacific Gas & Electric from an “overweight” rating to a “buy” rating in a research note on Monday, August 31st. Barclays cut their price objective on shares of Pacific Gas & Electric from $23.00 to $18.00 and set an “overweight” rating on the stock in a research report on Thursday, September 3rd. Morgan Stanley reduced their target price on shares of Pacific Gas & Electric from $22.00 to $20.00 and set an “equal weight” rating for the company in a report on Friday, September 18th. Truist Financial downgraded shares of Pacific Gas & Electric from a “buy” rating to a “hold” rating and decreased their target price for the company from $21.00 to $17.00 in a research report on Thursday, September 3rd. Finally, Weiss Ratings reiterated a “hold (c)” rating on shares of Pacific Gas & Electric in a research note on Tuesday, September 1st. Three analysts have rated the stock with a Buy rating and nine have assigned a Hold rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $17.55.

Pacific Gas & Electric Company Profile

Pacific Gas and Electric Corporation, through its principal subsidiary Pacific Gas and Electric Company, is a regulated energy utility serving customers in Northern and Central California. The company delivers electricity and natural gas to residential, commercial, industrial and agricultural customers across its service territory.

PG&E’s operations include the transmission and distribution of electricity, natural gas distribution, and the maintenance and modernization of the infrastructure used to provide these services.