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

Key Points

• Director Mark Ferguson III sold 8,675 PG&E shares at an average of $13.22, totaling $114,683.50; the sale reduced his holdings by 81.26% to 2,000 shares.
• PG&E shares rose 2.2% to $13.26 in Friday midday trading. Its latest quarterly results missed estimates, with EPS of $0.41 versus $0.42 expected and revenue of $6.19 billion versus $6.82 billion forecast.
• Analysts’ consensus rating is Hold, with an average price target of $17.21; the company also pays a quarterly dividend of $0.05 per share.

Pacific Gas & Electric Co. (NYSE:PCG - Get Free Report) 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 transaction, the director owned 2,000 shares in the company, valued at approximately $26,440. The trade was a 81.26% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link.

Pacific Gas & Electric Stock Up 2.2%

Shares of Pacific Gas & Electric stock traded up $0.29 during midday trading on Friday, hitting $13.26. The company's stock had a trading volume of 20,064,931 shares, compared to its average volume of 26,841,955. Pacific Gas & Electric Co. has a 1-year low of $11.77 and a 1-year high of $19.16. The firm has a market capitalization of $35.53 billion, a P/E ratio of 9.82, a PEG ratio of 1.05 and a beta of 0.17. 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 stock has a 50-day simple moving average of $13.06 and a 200-day simple moving average of $16.13.

Pacific Gas & Electric (NYSE:PCG - Get Free Report) last issued its earnings results on Thursday, October 22nd. The utilities provider reported $0.41 earnings per share for the quarter, missing analysts' consensus estimates of $0.42 by ($0.01). The business had revenue of $6.19 billion during the quarter, compared to analyst estimates of $6.82 billion. Pacific Gas & Electric had a net margin of 12.00% and a return on equity of 11.49%. Pacific Gas & Electric's revenue for the quarter was down 1.0% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.50 EPS. As a group, sell-side analysts expect that Pacific Gas & Electric Co. will post 1.65 earnings per share for the current year.

Pacific Gas & Electric Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, October 15th. Shareholders of record on Wednesday, September 30th were given a $0.05 dividend. This represents a $0.20 annualized dividend and a yield of 1.5%. The ex-dividend date of this dividend was Wednesday, September 30th. Pacific Gas & Electric's dividend payout ratio is presently 14.81%.

Hedge Funds Weigh In On Pacific Gas & Electric

A number of institutional investors have recently modified their holdings of PCG. Keating Financial Advisory Services Inc. acquired a new stake in shares of Pacific Gas & Electric during the 2nd quarter worth approximately $28,000. Performa Ltd US LLC acquired a new position in Pacific Gas & Electric in the third quarter valued at approximately $43,000. Transamerica Financial Advisors LLC acquired a new position in Pacific Gas & Electric in the second quarter valued at approximately $57,000. CoreCap Advisors LLC boosted its stake in Pacific Gas & Electric by 13.1% in the second quarter. CoreCap Advisors LLC now owns 5,843 shares of the utilities provider's stock valued at $98,000 after acquiring an additional 677 shares during the last quarter. Finally, Versant Capital Management Inc boosted its stake in Pacific Gas & Electric by 19.6% in the second quarter. Versant Capital Management Inc now owns 6,636 shares of the utilities provider's stock valued at $112,000 after acquiring an additional 1,088 shares during the last quarter. 78.56% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several analysts have commented 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, July 25th. Truist Financial downgraded shares of Pacific Gas & Electric from a "buy" rating to a "hold" rating and decreased their price objective for the stock from $21.00 to $17.00 in a report on Thursday, September 3rd. Morgan Stanley upped their price target on shares of Pacific Gas & Electric from $20.00 to $21.00 and gave the company an "equal weight" rating in a report on Wednesday, October 21st. Weiss Ratings lowered Pacific Gas & Electric from a "hold (c)" rating to a "hold (c-)" rating in a report on Friday, October 23rd. Finally, BMO Capital Markets upped their target price on shares of Pacific Gas & Electric from $21.00 to $22.00 and gave the company a "market perform" rating in a research note on Monday, October 26th. 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 stock presently has an average rating of "Hold" and an average price target of $17.21.

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.

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