Jason Glickman Sells 47,264 Shares of Pacific Gas & Electric (NYSE:PCG) Stock

Pacific Gas & Electric Co. (NYSE:PCG) EVP Jason Glickman sold 47,264 shares of the company’s stock in a transaction that occurred on Tuesday, April 28th. The stock was sold at an average price of $16.35, for a total value of $772,766.40. Following the completion of the sale, the executive vice president directly owned 136,433 shares of the company’s stock, valued at approximately $2,230,679.55. This represents a 25.73% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website.

Pacific Gas & Electric Stock Up 0.7%

Shares of PCG opened at $16.37 on Thursday. The firm has a market cap of $35.98 billion, a P/E ratio of 12.69, a P/E/G ratio of 0.63 and a beta of 0.34. The stock has a 50 day simple moving average of $17.83 and a two-hundred day simple moving average of $16.63. The company has a debt-to-equity ratio of 1.88, a current ratio of 1.20 and a quick ratio of 1.13. Pacific Gas & Electric Co. has a 1 year low of $12.97 and a 1 year high of $19.16.

Pacific Gas & Electric (NYSE:PCG) last issued its earnings results on Thursday, April 23rd. The utilities provider reported $0.43 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.39 by $0.04. The business had revenue of $6.88 billion during the quarter, compared to analyst estimates of $6.20 billion. Pacific Gas & Electric had a return on equity of 11.95% and a net margin of 11.44%.Pacific Gas & Electric’s revenue for the quarter was up 15.0% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.33 earnings per share. Pacific Gas & Electric has set its FY 2026 guidance at 1.640-1.660 EPS. On average, analysts forecast that Pacific Gas & Electric Co. will post 1.65 earnings per share for the current fiscal year.

Pacific Gas & Electric Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, April 15th. Stockholders of record on Tuesday, March 31st were issued a $0.05 dividend. The ex-dividend date was Tuesday, March 31st. This represents a $0.20 annualized dividend and a dividend yield of 1.2%. Pacific Gas & Electric’s payout ratio is currently 15.50%.

Analyst Upgrades and Downgrades

Several research firms have recently commented on PCG. Mizuho set a $21.00 price objective on Pacific Gas & Electric in a report on Wednesday, January 21st. Morgan Stanley set a $23.00 price objective on Pacific Gas & Electric in a report on Friday, February 20th. Wells Fargo & Company reiterated an “overweight” rating and issued a $25.00 price objective on shares of Pacific Gas & Electric in a report on Tuesday, April 21st. Wall Street Zen upgraded Pacific Gas & Electric from a “hold” rating to a “buy” rating in a report on Saturday, April 25th. Finally, UBS Group upgraded Pacific Gas & Electric from a “neutral” rating to a “buy” rating in a report on Monday, March 9th. One research analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating, four have issued a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $22.40.

Institutional Investors Weigh In On Pacific Gas & Electric

Large investors have recently made changes to their positions in the business. Root Financial Partners LLC bought a new stake in shares of Pacific Gas & Electric in the 3rd quarter worth approximately $27,000. Tobam bought a new stake in shares of Pacific Gas & Electric in the 4th quarter worth approximately $30,000. Versant Capital Management Inc grew its position in shares of Pacific Gas & Electric by 826.2% in the 3rd quarter. Versant Capital Management Inc now owns 1,945 shares of the utilities provider’s stock worth $29,000 after buying an additional 1,735 shares during the last quarter. Torren Management LLC bought a new stake in shares of Pacific Gas & Electric in the 4th quarter worth approximately $33,000. Finally, Modus Advisors LLC bought a new stake in shares of Pacific Gas & Electric in the 4th quarter worth approximately $36,000. 78.56% of the stock is currently owned by institutional investors.

About Pacific Gas & Electric

Pacific Gas & Electric (NYSE: PCG) is an investor-owned utility holding company whose principal operating subsidiary, Pacific Gas and Electric Company, provides electricity and natural gas service in northern and central California. The company’s core activities include the generation, procurement, transmission and distribution of electric power, as well as the transmission and distribution of natural gas. PG&E serves a broad mix of residential, commercial, and industrial customers across urban and rural communities within its California service territory.

PG&E’s operations encompass utility infrastructure planning and construction, grid operations, customer service and energy procurement.