Pacific Gas & Electric (NYSE:PCG) Stock Crosses Below 50 Day Moving Average - Time to Sell?

Key Points

• PG&E shares fell below their 50-day moving average, trading as low as $12.85 versus the $13.06 average, and were last quoted at $12.965.
• Analysts have a consensus “Hold” rating and an average price target of $17.21; seven rate the stock Buy and nine Hold.
• The company’s latest quarter missed estimates, reporting EPS of $0.41 versus $0.42 expected and revenue of $6.19 billion versus $6.82 billion expected. PG&E also pays a quarterly dividend of $0.05, a 1.5% annualized yield.

Pacific Gas & Electric Co. (NYSE:PCG - Get Free Report)'s share price crossed below its 50-day moving average during trading on Thursday. The stock has a 50-day moving average of $13.06 and traded as low as $12.85. Pacific Gas & Electric shares last traded at $12.9650, with a volume of 21,393,629 shares.

Analysts Set New Price Targets

A number of equities research analysts recently commented on PCG shares. Bank of America upped their price objective on Pacific Gas & Electric from $13.00 to $14.00 in a report on Tuesday, September 8th. Mizuho reduced their target price on Pacific Gas & Electric from $16.00 to $14.00 and set a "neutral" rating on the stock in a report on Thursday, September 3rd. The Goldman Sachs Group set a $20.00 target price on Pacific Gas & Electric in a report on Thursday, October 15th. Weiss Ratings lowered Pacific Gas & Electric from a "hold (c)" rating to a "hold (c-)" rating in a research report on Friday, October 23rd. Finally, Morgan Stanley upped their price target on Pacific Gas & Electric from $20.00 to $21.00 and gave the company an "equal weight" rating in a research note on Wednesday, October 21st. Seven equities research analysts have rated the stock with a Buy rating and nine have assigned a Hold rating to the company. According to data from MarketBeat.com, Pacific Gas & Electric currently has a consensus rating of "Hold" and a consensus target price of $17.21.

Pacific Gas & Electric Trading Down 1.0%

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 market capitalization of $34.75 billion, a P/E ratio of 9.60, a price-to-earnings-growth ratio of 1.05 and a beta of 0.17. The company has a fifty day simple moving average of $13.06 and a two-hundred day simple moving average of $16.13.

Pacific Gas & Electric (NYSE:PCG - Get Free Report) last released its quarterly earnings results on Thursday, October 22nd. The utilities provider reported $0.41 EPS for the quarter, missing analysts' consensus estimates of $0.42 by ($0.01). Pacific Gas & Electric had a return on equity of 11.49% and a net margin of 12.00%. The business had revenue of $6.19 billion for the quarter, compared to analyst estimates of $6.82 billion. During the same period in the prior year, the business earned $0.50 EPS. The company's revenue for the quarter was down 1.0% compared to the same quarter last year. On average, 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 business also recently disclosed a quarterly dividend, which was paid on Thursday, October 15th. Investors 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 payout ratio is currently 14.81%.

Insiders Place Their Bets

In related news, Director William Fugate sold 6,500 shares of the company's stock in a transaction on Friday, September 4th. The shares were sold at an average price of $13.76, for a total value of $89,440.00. Following the completion of the transaction, the director directly owned 73,530 shares of the company's stock, valued at approximately $1,011,772.80. This represents a 8.12% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director John Larsen bought 7,500 shares of the stock in a transaction on Wednesday, September 30th. The shares were purchased at an average price of $12.20 per share, with a total value of $91,500.00. Following the acquisition, the director owned 36,685 shares in the company, valued at approximately $447,557. This represents a 25.70% increase in their position. The SEC filing for this purchase provides additional information. 0.22% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Pacific Gas & Electric

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

About Pacific Gas & Electric

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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