PG&E Co. (NYSE:PCG - Get Free Report) CEO Patricia K. Poppe sold 55,555 shares of the stock in a transaction on Monday, December 2nd. The shares were sold at an average price of $20.66, for a total value of $1,147,766.30. Following the completion of the transaction, the chief executive officer now owns 1,460,222 shares in the company, valued at $30,168,186.52. The trade was a 3.67 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link.
PG&E Price Performance
PG&E stock opened at $20.56 on Tuesday. The stock's fifty day moving average price is $20.45 and its two-hundred day moving average price is $19.16. The firm has a market cap of $53.76 billion, a PE ratio of 16.06, a price-to-earnings-growth ratio of 1.66 and a beta of 1.03. The company has a debt-to-equity ratio of 2.02, a current ratio of 1.04 and a quick ratio of 0.99. PG&E Co. has a one year low of $15.94 and a one year high of $21.72.
PG&E (NYSE:PCG - Get Free Report) last issued its quarterly earnings results on Thursday, November 7th. The utilities provider reported $0.37 earnings per share for the quarter, topping analysts' consensus estimates of $0.32 by $0.05. PG&E had a net margin of 11.11% and a return on equity of 12.51%. The company had revenue of $5.94 billion during the quarter, compared to the consensus estimate of $6.58 billion. During the same quarter in the prior year, the firm posted $0.24 EPS. The firm's quarterly revenue was up .9% on a year-over-year basis. As a group, research analysts expect that PG&E Co. will post 1.36 EPS for the current fiscal year.
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The business also recently declared a quarterly dividend, which was paid on Tuesday, October 15th. Stockholders of record on Monday, September 30th were issued a dividend of $0.01 per share. The ex-dividend date of this dividend was Monday, September 30th. This represents a $0.04 annualized dividend and a dividend yield of 0.19%. PG&E's dividend payout ratio (DPR) is presently 3.13%.
Institutional Trading of PG&E
Hedge funds have recently made changes to their positions in the company. Tokio Marine Asset Management Co. Ltd. raised its position in PG&E by 259.6% during the 3rd quarter. Tokio Marine Asset Management Co. Ltd. now owns 61,850 shares of the utilities provider's stock worth $1,223,000 after purchasing an additional 44,650 shares during the last quarter. Scientech Research LLC acquired a new position in shares of PG&E in the second quarter worth approximately $1,122,000. Allspring Global Investments Holdings LLC boosted its holdings in PG&E by 808.5% in the second quarter. Allspring Global Investments Holdings LLC now owns 1,243,020 shares of the utilities provider's stock valued at $21,703,000 after acquiring an additional 1,106,200 shares during the last quarter. Van ECK Associates Corp boosted its holdings in PG&E by 23.7% in the second quarter. Van ECK Associates Corp now owns 1,387,786 shares of the utilities provider's stock valued at $24,230,000 after acquiring an additional 265,694 shares during the last quarter. Finally, Creative Planning increased its position in PG&E by 39.6% during the 2nd quarter. Creative Planning now owns 111,358 shares of the utilities provider's stock valued at $1,944,000 after purchasing an additional 31,573 shares during the period. 78.56% of the stock is owned by institutional investors and hedge funds.
Wall Street Analyst Weigh In
PCG has been the subject of a number of analyst reports. Bank of America initiated coverage on shares of PG&E in a report on Thursday, September 12th. They set a "buy" rating and a $24.00 target price for the company. Barclays lifted their price objective on PG&E from $24.00 to $25.00 and gave the stock an "overweight" rating in a research note on Monday, October 21st. Mizuho increased their target price on PG&E from $24.00 to $26.00 and gave the company an "outperform" rating in a research note on Wednesday, November 27th. Morgan Stanley boosted their target price on PG&E from $19.00 to $20.00 and gave the stock an "equal weight" rating in a research report on Wednesday, September 25th. Finally, Jefferies Financial Group initiated coverage on shares of PG&E in a research report on Monday, October 14th. They issued a "buy" rating and a $24.00 price target on the stock. Two investment analysts have rated the stock with a hold rating and nine have given a buy rating to the company. According to data from MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus target price of $23.10.
Check Out Our Latest Stock Analysis on PG&E
About PG&E
(
Get Free Report)
PG&E Corporation, through its subsidiary, Pacific Gas and Electric Company, engages in the sale and delivery of electricity and natural gas to customers in northern and central California, the United States. It generates electricity using nuclear, hydroelectric, fossil fuel-fired, fuel cell, and photovoltaic sources.
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