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

Key Points

• Director John Larsen purchased 7,500 PCG shares at an average price of $12.20, investing $91,500 and increasing his direct stake by 25.7% to 36,685 shares.
• PCG shares recently traded at $12.16, near their 12-month low of $11.77, while the company reported quarterly EPS of $0.40, exceeding analysts’ $0.36 estimate.
• PG&E declared a quarterly dividend of $0.05 per share, representing a 1.6% yield; analysts maintain a consensus “Hold” rating with a $17.55 target price.

Pacific Gas & Electric Co. (NYSE:PCG - Get Free Report) Director John Larsen bought 7,500 shares of Pacific Gas & Electric stock in a transaction dated Wednesday, September 30th. The stock was acquired at an average cost of $12.20 per share, for a total transaction of $91,500.00. Following the purchase, the director directly owned 36,685 shares in the company, valued at approximately $447,557. The trade was a 25.70% increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link.

Pacific Gas & Electric Trading Down 0.7%

Shares of PCG traded down $0.09 on Thursday, reaching $12.16. 31,506,360 shares of the company's stock were exchanged, compared to its average volume of 26,232,674. 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 $32.59 billion, a P/E ratio of 8.81, a price-to-earnings-growth ratio of 0.98 and a beta of 0.24. The business has a 50 day moving average price of $15.62 and a two-hundred day moving average price of $16.54. 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 - Get Free Report) last announced its quarterly earnings data on Thursday, July 23rd. The utilities provider reported $0.40 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.36 by $0.04. Pacific Gas & Electric had a net margin of 12.25% and a return on equity of 12.48%. The firm had revenue of $5.90 billion for the quarter, compared to analysts' expectations of $6.20 billion. During the same period last year, the firm earned $0.31 earnings per share. The business's revenue for the quarter was up .1% on a year-over-year basis. Pacific Gas & Electric has set its FY 2026 guidance at 1.640-1.660 EPS. Research analysts anticipate that Pacific Gas & Electric Co. will post 1.65 earnings per share for the current year.

Pacific Gas & Electric Dividend Announcement

The business 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 of this dividend is Wednesday, September 30th. This represents a $0.20 annualized dividend and a yield of 1.6%. Pacific Gas & Electric's dividend payout ratio is presently 14.49%.

Wall Street Analysts Forecast Growth

PCG has been the subject of several analyst reports. Wall Street Zen lowered Pacific Gas & Electric from a "buy" rating to a "hold" rating in a research report on Saturday, July 25th. Bank of America reiterated a "neutral" rating and issued a $13.00 price target (down from $24.00) on shares of Pacific Gas & Electric in a research report on Tuesday, September 1st. BMO Capital Markets reiterated a "market perform" rating and issued a $21.00 target price (down from $28.00) on shares of Pacific Gas & Electric in a report on Monday, August 31st. Wells Fargo & Company cut shares of Pacific Gas & Electric from an "overweight" rating to a "buy" rating in a research report on Monday, August 31st. Finally, UBS Group reissued a "neutral" rating and issued a $14.00 price target (down from $19.00) on shares of Pacific Gas & Electric in a report on Tuesday, September 22nd. Three analysts have rated the stock with a Buy rating and nine have assigned a Hold rating to the company's stock. According to MarketBeat.com, the company has a consensus rating of "Hold" and a consensus target price of $17.55.

Hedge Funds Weigh In On Pacific Gas & Electric

Several institutional investors have recently modified their holdings of the business. Gallagher Fiduciary Advisors LLC bought a new stake in Pacific Gas & Electric during the 2nd quarter worth approximately $300,895,000. Legal & General Group Plc acquired a new stake in Pacific Gas & Electric during the 2nd quarter worth approximately $398,915,000. Canada Pension Plan Investment Board bought a new position in Pacific Gas & Electric in the second quarter valued at approximately $320,820,000. Barrow Hanley Mewhinney & Strauss LLC bought a new position in Pacific Gas & Electric in the second quarter valued at approximately $314,855,000. Finally, Man Group plc acquired a new position in shares of Pacific Gas & Electric in the second quarter valued at approximately $188,513,000. Institutional investors own 78.56% of the company's stock.

About Pacific Gas & Electric

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.

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