Pacific Gas & Electric (NYSE:PCG) Hits New 12-Month Low - Here's Why

Key Points

• Pacific Gas & Electric shares hit a new 52-week low at $11.91, falling 3.2% and trading below both their 50-day and 200-day moving averages.
• Analysts have recently reduced price targets, with the stock carrying a consensus “Hold” rating and an average target of $17.55, well above its current price.
• The company beat quarterly EPS estimates but missed revenue expectations, while insiders sold 166,000 shares worth approximately $2.96 million. PG&E also declared a quarterly dividend of $0.05 per share, yielding about 1.7% annually.

Pacific Gas & Electric Co. (NYSE:PCG - Get Free Report)'s stock price hit a new 52-week low during trading on Tuesday. The stock traded as low as $11.91 and last traded at $11.9450, with a volume of 33004181 shares trading hands. The stock had previously closed at $12.34.

Analyst Ratings Changes

A number of equities analysts recently issued reports on the company. BMO Capital Markets reissued a "market perform" rating and issued a $21.00 price objective (down from $28.00) on shares of Pacific Gas & Electric in a report on Monday, August 31st. Morgan Stanley cut their target price on Pacific Gas & Electric from $22.00 to $20.00 and set an "equal weight" rating on the stock in a research note on Friday, September 18th. Wall Street Zen lowered Pacific Gas & Electric from a "buy" rating to a "hold" rating in a research report on Saturday, July 25th. Weiss Ratings reissued a "hold (c)" rating on shares of Pacific Gas & Electric in a research note on Tuesday, September 1st. Finally, Barclays lowered their price target on Pacific Gas & Electric from $23.00 to $18.00 and set an "overweight" rating on the stock in a report on Thursday, September 3rd. Three equities research analysts have rated the stock with a Buy rating and nine have assigned a Hold rating to the stock. According to MarketBeat, the stock presently has an average rating of "Hold" and an average price target of $17.55.

Pacific Gas & Electric Trading Down 3.2%

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 firm has a 50-day moving average price of $15.84 and a 200-day moving average price of $16.62. The company has a market capitalization of $32.01 billion, a price-to-earnings ratio of 8.66, a PEG ratio of 0.99 and a beta of 0.24.

Pacific Gas & Electric (NYSE:PCG - Get Free Report) last released its 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. Pacific Gas & Electric had a return on equity of 12.48% and a net margin of 12.25%.The firm had revenue of $5.90 billion for the quarter, compared to analyst estimates of $6.20 billion. During the same period in the previous year, the company earned $0.31 earnings per share. Pacific Gas & Electric's revenue was up .1% compared to the same quarter last year. Pacific Gas & Electric has set its FY 2026 guidance at 1.640-1.660 EPS. As a group, sell-side analysts predict that Pacific Gas & Electric Co. will post 1.65 EPS for the current year.

Pacific Gas & Electric Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, October 15th. Stockholders 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 dividend yield of 1.7%. Pacific Gas & Electric's payout ratio is currently 14.49%.

Insider Buying and Selling

In related news, Director William Fugate sold 6,500 shares of the firm's stock in a transaction that occurred on Friday, September 4th. The shares were sold at an average price of $13.76, for a total transaction of $89,440.00. Following the completion of the sale, the director directly owned 73,530 shares in the company, valued at approximately $1,011,772.80. This trade represents a 8.12% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Marlene Santos sold 158,250 shares of Pacific Gas & Electric stock in a transaction that occurred 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 completion of the transaction, the executive vice president owned 230,885 shares in the company, valued at approximately $4,155,930. This trade represents a 40.67% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 166,000 shares of company stock worth $2,960,440 over the last quarter. Insiders own 0.22% of the company's stock.

Institutional Investors Weigh In On Pacific Gas & Electric

A number of institutional investors and hedge funds have recently modified their holdings of PCG. Keating Financial Advisory Services Inc. acquired a new stake in Pacific Gas & Electric during the 2nd quarter worth about $28,000. Tobam acquired a new position in shares of Pacific Gas & Electric in the fourth quarter worth about $30,000. Modus Advisors LLC acquired a new position in shares of Pacific Gas & Electric in the fourth quarter worth about $36,000. Transamerica Financial Advisors LLC purchased a new position in shares of Pacific Gas & Electric in the second quarter worth approximately $57,000. Finally, CoreCap Advisors LLC increased its position in shares of Pacific Gas & Electric by 13.1% in 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.

About Pacific Gas & Electric

Pacific Gas & Electric Corporation NYSE: PCG is an energy holding company whose principal subsidiary, Pacific Gas and Electric Company, provides regulated electricity and natural gas services. The utility delivers electricity through its transmission and distribution networks and supplies natural gas to residential, commercial, industrial and agricultural customers.

Pacific Gas and Electric Company serves a large portion of Northern and Central California, including the San Francisco Bay Area and the Central Valley.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.