John Larsen Purchases 7,500 Shares of Pacific Gas & Electric (NYSE:PCG) Stock

Pacific Gas & Electric Co. (NYSE:PCG) Director John Larsen acquired 7,500 shares of the company’s stock in a transaction that occurred on Tuesday, November 4th. The stock was purchased at an average price of $15.96 per share, for a total transaction of $119,700.00. Following the acquisition, the director directly owned 18,111 shares of the company’s stock, valued at $289,051.56. The trade was a 70.68% increase in their position. The purchase was disclosed in a filing with the SEC, which is available through the SEC website.

Pacific Gas & Electric Price Performance

NYSE PCG opened at $16.34 on Friday. The company has a quick ratio of 0.89, a current ratio of 0.94 and a debt-to-equity ratio of 1.81. The stock has a market capitalization of $35.91 billion, a PE ratio of 13.73, a price-to-earnings-growth ratio of 0.66 and a beta of 0.59. Pacific Gas & Electric Co. has a 12-month low of $12.97 and a 12-month high of $21.72. The company has a 50 day moving average price of $15.68 and a two-hundred day moving average price of $15.42.

Pacific Gas & Electric (NYSE:PCG) last released its quarterly earnings results on Monday, May 15th. The utilities provider reported $0.30 earnings per share for the quarter. Pacific Gas & Electric had a net margin of 10.93% and a return on equity of 11.10%. The business had revenue of $5.80 billion for the quarter. As a group, equities analysts predict that Pacific Gas & Electric Co. will post 1.49 earnings per share for the current fiscal year.

Pacific Gas & Electric Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, October 15th. Shareholders of record on Tuesday, September 30th were given a $0.025 dividend. The ex-dividend date of this dividend was Tuesday, September 30th. This represents a $0.10 dividend on an annualized basis and a dividend yield of 0.6%. Pacific Gas & Electric’s payout ratio is currently 8.40%.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in PCG. Root Financial Partners LLC acquired a new position in shares of Pacific Gas & Electric during the third quarter worth approximately $27,000. Versant Capital Management Inc increased its position in Pacific Gas & Electric by 826.2% during the third quarter. Versant Capital Management Inc now owns 1,945 shares of the utilities provider’s stock worth $29,000 after acquiring an additional 1,735 shares during the period. Costello Asset Management INC acquired a new position in Pacific Gas & Electric during the 1st quarter valued at $31,000. Cornerstone Planning Group LLC boosted its holdings in Pacific Gas & Electric by 3,240.8% in the 3rd quarter. Cornerstone Planning Group LLC now owns 2,372 shares of the utilities provider’s stock valued at $36,000 after purchasing an additional 2,301 shares during the period. Finally, Safe Harbor Fiduciary LLC acquired a new stake in Pacific Gas & Electric in the 1st quarter worth $39,000. 78.56% of the stock is owned by institutional investors.

Analysts Set New Price Targets

PCG has been the topic of a number of analyst reports. Wall Street Zen raised Pacific Gas & Electric from a “hold” rating to a “buy” rating in a report on Saturday, November 1st. Jefferies Financial Group upped their target price on Pacific Gas & Electric from $20.00 to $21.00 and gave the stock a “buy” rating in a research report on Wednesday, October 22nd. Weiss Ratings reiterated a “hold (c-)” rating on shares of Pacific Gas & Electric in a report on Wednesday, October 8th. Morgan Stanley set a $21.00 price objective on shares of Pacific Gas & Electric and gave the stock an “outperform” rating in a research note on Wednesday, October 22nd. Finally, Wells Fargo & Company raised shares of Pacific Gas & Electric to a “strong-buy” rating in a report on Tuesday, October 28th. Two analysts have rated the stock with a Strong Buy rating, seven have given a Buy rating and six have issued a Hold rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $20.64.

Pacific Gas & Electric Company Profile

PG&E Corp. operates as a holding company, which engages in generation, transmission, and distribution of electricity and natural gas to customers. It specializes in energy, utility, power, gas, electricity, solar and sustainability. The company was founded in 1995 and is headquartered in Oakland, CA.