Pacific Gas & Electric Co. (NYSE:PCG) to Issue Quarterly Dividend of $0.05

by · The Markets Daily

Pacific Gas & Electric Co. (NYSE:PCG – Get Free Report) declared a quarterly dividend on Friday, December 12th. Shareholders of record on Wednesday, December 31st will be given a dividend of 0.05 per share by the utilities provider on Thursday, January 15th. This represents a c) annualized dividend and a yield of 1.3%. The ex-dividend date of this dividend is Wednesday, December 31st. This is a 100.0% increase from Pacific Gas & Electric’s previous quarterly dividend of $0.03.

Pacific Gas & Electric has a payout ratio of 6.1% meaning its dividend is sufficiently covered by earnings. Analysts expect Pacific Gas & Electric to earn $1.63 per share next year, which means the company should continue to be able to cover its $0.10 annual dividend with an expected future payout ratio of 6.1%.

Pacific Gas & Electric Stock Up 2.3%

NYSE PCG traded up $0.34 during trading on Friday, hitting $15.17. 19,120,549 shares of the company traded hands, compared to its average volume of 23,843,311. Pacific Gas & Electric has a 12 month low of $12.97 and a 12 month high of $20.43. The business has a fifty day simple moving average of $16.05 and a 200 day simple moving average of $15.19. The company has a market capitalization of $33.33 billion, a P/E ratio of 12.74, a PEG ratio of 0.63 and a beta of 0.37. The company has a current ratio of 0.94, a quick ratio of 0.89 and a debt-to-equity ratio of 1.81.

Pacific Gas & Electric (NYSE:PCG – Get Free Report) last issued its quarterly earnings data on Monday, May 15th. The utilities provider reported $0.30 EPS for the quarter. Pacific Gas & Electric had a return on equity of 11.10% and a net margin of 10.93%.The business had revenue of $5.80 billion for the quarter. As a group, sell-side analysts predict that Pacific Gas & Electric will post 1.49 EPS for the current year.

Insider Activity at Pacific Gas & Electric

In other news, Director John O. Larsen purchased 7,500 shares of the business’s stock in a transaction dated Tuesday, November 4th. The shares were acquired at an average price of $15.96 per share, with a total value of $119,700.00. Following the completion of the purchase, the director directly owned 18,111 shares of the company’s stock, valued at $289,051.56. The trade was a 70.68% increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 0.14% of the stock is owned by company insiders.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in the business. Root Financial Partners LLC bought a new stake in shares of Pacific Gas & Electric during the third quarter worth approximately $27,000. Versant Capital Management Inc raised its position in shares of Pacific Gas & Electric by 826.2% during the 3rd quarter. Versant Capital Management Inc now owns 1,945 shares of the utilities provider’s stock valued at $29,000 after acquiring an additional 1,735 shares during the last quarter. Safe Harbor Fiduciary LLC bought a new stake in shares of Pacific Gas & Electric during the 1st quarter valued at $39,000. Cornerstone Planning Group LLC lifted its stake in shares of Pacific Gas & Electric by 3,240.8% in the 3rd quarter. Cornerstone Planning Group LLC now owns 2,372 shares of the utilities provider’s stock valued at $36,000 after purchasing an additional 2,301 shares during the period. Finally, Quent Capital LLC bought a new position in shares of Pacific Gas & Electric in the 3rd quarter worth $44,000. 78.56% of the stock is currently owned by institutional investors and hedge funds.

Pacific Gas & Electric Company Profile

(Get Free Report)

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.

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