Pacific Gas & Electric (NYSE:PCG) Hits New 52-Week Low – Should You Sell?

Pacific Gas & Electric Co. (NYSE:PCG)’s stock price hit a new 52-week low during mid-day trading on Friday . The stock traded as low as $13.34 and last traded at $13.48, with a volume of 1345299 shares changing hands. The stock had previously closed at $13.54.

Analyst Ratings Changes

PCG has been the topic of several recent analyst reports. BMO Capital Markets cut their target price on shares of Pacific Gas & Electric from $23.00 to $22.00 and set an “outperform” rating on the stock in a research note on Monday, April 14th. Guggenheim boosted their target price on shares of Pacific Gas & Electric from $16.00 to $17.00 and gave the company a “neutral” rating in a research note on Friday, April 25th. Jefferies Financial Group boosted their target price on shares of Pacific Gas & Electric from $20.00 to $22.00 and gave the company a “buy” rating in a research note on Wednesday, April 23rd. Mizuho boosted their target price on shares of Pacific Gas & Electric from $20.00 to $21.00 and gave the company an “outperform” rating in a research note on Monday, May 19th. Finally, Morgan Stanley set a $18.00 price target on shares of Pacific Gas & Electric and gave the stock an “underweight” rating in a research note on Thursday, May 22nd. One analyst has rated the stock with a sell rating, four have issued a hold rating and seven have given a buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $20.73.

Pacific Gas & Electric Price Performance

The stock has a market capitalization of $35.88 billion, a P/E ratio of 12.30, a PEG ratio of 0.95 and a beta of 0.55. The stock’s fifty day moving average is $15.46 and its 200-day moving average is $16.39. The company has a debt-to-equity ratio of 1.79, a current ratio of 0.95 and a quick ratio of 0.90.

Pacific Gas & Electric (NYSE:PCG) last released its quarterly earnings results on Thursday, April 24th. The utilities provider reported $0.33 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.35 by ($0.02). Pacific Gas & Electric had a net margin of 9.81% and a return on equity of 10.35%. The firm had revenue of $5.98 billion for the quarter, compared to the consensus estimate of $6.23 billion. During the same quarter last year, the company earned $0.37 earnings per share. The firm’s revenue was up 2.1% on a year-over-year basis. On average, equities analysts anticipate that Pacific Gas & Electric Co. will post 1.49 earnings per share for the current year.

Pacific Gas & Electric Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, July 15th. Investors of record on Monday, June 30th will be paid a $0.025 dividend. This represents a $0.10 annualized dividend and a dividend yield of 0.75%. The ex-dividend date is Monday, June 30th. Pacific Gas & Electric’s payout ratio is presently 9.17%.

Insider Buying and Selling at Pacific Gas & Electric

In related news, EVP Carla J. Peterman sold 32,519 shares of the stock in a transaction dated Tuesday, April 29th. The shares were sold at an average price of $17.30, for a total value of $562,578.70. Following the completion of the transaction, the executive vice president owned 151,116 shares of the company’s stock, valued at $2,614,306.80. This represents a 17.71% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Insiders own 0.14% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in the business. Proficio Capital Partners LLC acquired a new stake in shares of Pacific Gas & Electric during the fourth quarter worth approximately $2,175,000. Raymond James Financial Inc. acquired a new stake in shares of Pacific Gas & Electric during the fourth quarter worth approximately $24,770,000. PNC Financial Services Group Inc. increased its holdings in shares of Pacific Gas & Electric by 8.1% during the fourth quarter. PNC Financial Services Group Inc. now owns 98,655 shares of the utilities provider’s stock worth $1,991,000 after buying an additional 7,366 shares in the last quarter. HighTower Advisors LLC increased its holdings in shares of Pacific Gas & Electric by 5.1% during the fourth quarter. HighTower Advisors LLC now owns 151,670 shares of the utilities provider’s stock worth $3,061,000 after buying an additional 7,322 shares in the last quarter. Finally, Sequoia Financial Advisors LLC increased its holdings in shares of Pacific Gas & Electric by 16.5% during the fourth quarter. Sequoia Financial Advisors LLC now owns 40,332 shares of the utilities provider’s stock worth $814,000 after buying an additional 5,703 shares in the last quarter. Institutional investors and hedge funds own 78.56% of the company’s stock.

About Pacific Gas & Electric

PG&E Corp. operates as a holding company, which engages in generation, transmission, and distribution of electricity and natural gas to customers. It specializes in energy, utility, power, gas, electricity, solar and sustainability. The company was founded in 1995 and is headquartered in Oakland, CA.