Patricia K. Poppe Sells 59,000 Shares of PG&E Co. (NYSE:PCG) Stock

PG&E Co. (NYSE:PCG) CEO Patricia K. Poppe sold 59,000 shares of the firm’s stock in a transaction that occurred on Tuesday, April 30th. The stock was sold at an average price of $17.08, for a total transaction of $1,007,720.00. Following the sale, the chief executive officer now owns 1,515,777 shares in the company, valued at approximately $25,889,471.16. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink.

PG&E Price Performance

PCG opened at $17.53 on Friday. The company has a fifty day simple moving average of $16.64 and a 200 day simple moving average of $16.93. The firm has a market cap of $37.46 billion, a price-to-earnings 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 current ratio of 0.99, a quick ratio of 0.93 and a debt-to-equity ratio of 2.08.

PG&E (NYSE:PCG) last released its quarterly earnings results on Thursday, April 25th. The utilities provider reported $0.37 earnings per share for the quarter, beating analysts’ consensus estimates of $0.35 by $0.02. The business had revenue of $5.86 billion during the quarter, compared to analyst estimates of $6.60 billion. PG&E had a net margin of 10.05% and a return on equity of 11.32%. The business’s revenue was down 5.6% on a year-over-year basis. During the same period last year, the business earned $0.29 EPS. Equities research analysts expect that PG&E Co. will post 1.35 EPS for the current fiscal year.

PG&E Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, April 15th. Investors of record on Thursday, March 28th were issued a dividend of $0.01 per share. This represents a $0.04 dividend on an annualized basis and a yield of 0.23%. The ex-dividend date was Wednesday, March 27th. PG&E’s payout ratio is 3.57%.

Analysts Set New Price Targets

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

Institutional Investors Weigh In On PG&E

Large investors have recently added to or reduced their stakes in the company. Planned Solutions Inc. acquired a new position in PG&E during the 4th quarter worth $37,000. Vima LLC acquired a new position in PG&E during the 4th quarter worth $41,000. CVA Family Office LLC acquired a new position in PG&E during the 4th quarter worth $43,000. Millburn Ridgefield Corp acquired a new position in PG&E during the 3rd quarter worth $44,000. Finally, Catalyst Capital Advisors LLC acquired a new position in PG&E during the 3rd quarter worth $44,000. 78.56% of the stock is owned by institutional investors and hedge funds.

About PG&E

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.