PG&E Co. (NYSE:PCG) CEO Sells $1,007,720.00 in Stock

PG&E Co. (NYSE:PCG) CEO Patricia K. Poppe sold 59,000 shares of PG&E stock in a transaction on Tuesday, April 30th. The shares were sold at an average price of $17.08, for a total value of $1,007,720.00. Following the completion of the transaction, the chief executive officer now directly owns 1,515,777 shares of the company’s stock, valued at $25,889,471.16. The sale was disclosed in a legal filing with the SEC, which is available through this link.

PG&E Trading Up 0.7 %

Shares of PCG stock opened at $17.53 on Friday. The firm has a market capitalization of $37.46 billion, a P/E ratio of 15.65 and a beta of 1.26. PG&E Co. has a twelve month low of $14.71 and a twelve month high of $18.32. The company has a quick ratio of 0.93, a current ratio of 0.99 and a debt-to-equity ratio of 2.08. The stock’s fifty day simple moving average is $16.64 and its 200 day simple moving average is $16.93.

PG&E (NYSE:PCG) last issued its quarterly earnings data on Thursday, April 25th. The utilities provider reported $0.37 earnings per share for the quarter, topping analysts’ consensus estimates of $0.35 by $0.02. The business had revenue of $5.86 billion for the quarter, compared to analyst estimates of $6.60 billion. PG&E had a return on equity of 11.32% and a net margin of 10.05%. PG&E’s quarterly revenue was down 5.6% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.29 EPS. As a group, sell-side analysts predict that PG&E Co. will post 1.35 EPS for the current fiscal year.

PG&E Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, April 15th. Shareholders of record on Thursday, March 28th were given a $0.01 dividend. The ex-dividend date of this dividend was Wednesday, March 27th. This represents a $0.04 dividend on an annualized basis and a dividend yield of 0.23%. PG&E’s dividend payout ratio (DPR) is presently 3.57%.

Institutional Investors Weigh In On PG&E

Institutional investors have recently made changes to their positions in the stock. Planned Solutions Inc. bought a new stake in shares of PG&E in the 4th quarter valued at about $37,000. Vima LLC bought a new stake in shares of PG&E in the 4th quarter valued at about $41,000. CVA Family Office LLC bought a new stake in shares of PG&E in the 4th quarter valued at about $43,000. Pacific Capital Wealth Advisors Inc. bought a new stake in shares of PG&E in the 4th quarter valued at about $47,000. Finally, Millburn Ridgefield Corp bought a new stake in shares of PG&E in the 3rd quarter valued at about $44,000. Institutional investors own 78.56% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on PCG shares. Barclays lifted their price target on PG&E from $20.00 to $21.00 and gave the company an “overweight” rating in a research note on Friday, April 26th. StockNews.com upgraded PG&E from a “sell” rating to a “hold” rating in a research note on Thursday, February 1st. JPMorgan Chase & Co. lifted their price target on PG&E from $18.00 to $19.00 and gave the company a “neutral” rating in a research note on Tuesday, April 23rd. Finally, The Goldman Sachs Group started coverage on PG&E in a research note on Wednesday, April 10th. They issued a “buy” rating and a $21.00 price target on the stock. Four equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. According to data from MarketBeat.com, PG&E has an average rating of “Moderate Buy” and a consensus target price of $19.11.

PG&E Company Profile

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.