PG&E Target of Unusually High Options Trading (NYSE:PCG)

PG&E Co. (NYSE:PCGGet Free Report) was the recipient of some unusual options trading on Tuesday. Traders bought 95,469 call options on the stock. This is an increase of approximately 671% compared to the average daily volume of 12,386 call options.

PG&E Stock Performance

PCG stock remained flat at $16.22 on Tuesday. 46,705,987 shares of the company traded hands, compared to its average volume of 34,341,066. The company has a current ratio of 1.04, a quick ratio of 0.99 and a debt-to-equity ratio of 2.02. PG&E has a 1 year low of $15.94 and a 1 year high of $21.72. The firm’s 50-day simple moving average is $20.28 and its 200 day simple moving average is $19.49. The stock has a market capitalization of $42.42 billion, a PE ratio of 12.67, a price-to-earnings-growth ratio of 1.51 and a beta of 0.98.

PG&E (NYSE:PCGGet Free Report) last announced its earnings results on Thursday, November 7th. The utilities provider reported $0.37 earnings per share for the quarter, beating the consensus estimate of $0.32 by $0.05. PG&E had a return on equity of 12.51% and a net margin of 11.11%. The company had revenue of $5.94 billion for the quarter, compared to the consensus estimate of $6.58 billion. During the same period last year, the business posted $0.24 EPS. The company’s revenue was up .9% on a year-over-year basis. As a group, equities analysts forecast that PG&E will post 1.36 EPS for the current fiscal year.

PG&E Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, January 15th. Stockholders of record on Tuesday, December 31st will be paid a $0.025 dividend. This represents a $0.10 annualized dividend and a dividend yield of 0.62%. The ex-dividend date is Tuesday, December 31st. This is a boost from PG&E’s previous quarterly dividend of $0.01. PG&E’s dividend payout ratio (DPR) is 7.81%.

Wall Street Analyst Weigh In

A number of research firms have commented on PCG. Barclays reduced their target price on PG&E from $25.00 to $24.00 and set an “overweight” rating on the stock in a research report on Tuesday, December 17th. Morgan Stanley boosted their price target on shares of PG&E from $19.00 to $20.00 and gave the company an “equal weight” rating in a research note on Wednesday, September 25th. UBS Group dropped their target price on shares of PG&E from $26.00 to $24.00 and set a “buy” rating for the company in a report on Thursday, December 19th. BMO Capital Markets began coverage on PG&E in a research report on Monday. They set an “outperform” rating and a $21.00 price target for the company. Finally, Mizuho boosted their price objective on PG&E from $24.00 to $26.00 and gave the company an “outperform” rating in a report on Wednesday, November 27th. Two equities research analysts have rated the stock with a hold rating and ten have given a buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $22.64.

Check Out Our Latest Stock Report on PCG

Insider Activity at PG&E

In other news, CEO Patricia K. Poppe sold 55,555 shares of the firm’s stock in a transaction that occurred on Monday, December 2nd. The shares were sold at an average price of $20.66, for a total transaction of $1,147,766.30. Following the completion of the sale, the chief executive officer now owns 1,460,222 shares in the company, valued at $30,168,186.52. This trade represents a 3.67 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 0.15% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in the company. State Street Corp increased its position in PG&E by 5.0% during the 3rd quarter. State Street Corp now owns 108,953,808 shares of the utilities provider’s stock worth $2,155,093,000 after purchasing an additional 5,191,463 shares during the period. Czech National Bank raised its position in PG&E by 8.9% in the fourth quarter. Czech National Bank now owns 474,013 shares of the utilities provider’s stock worth $9,566,000 after acquiring an additional 38,590 shares in the last quarter. Tokio Marine Asset Management Co. Ltd. boosted its position in shares of PG&E by 259.6% during the 3rd quarter. Tokio Marine Asset Management Co. Ltd. now owns 61,850 shares of the utilities provider’s stock worth $1,223,000 after purchasing an additional 44,650 shares in the last quarter. Scientech Research LLC acquired a new position in shares of PG&E during the 2nd quarter worth $1,122,000. Finally, Creative Planning increased its holdings in shares of PG&E by 39.6% in the 2nd quarter. Creative Planning now owns 111,358 shares of the utilities provider’s stock valued at $1,944,000 after purchasing an additional 31,573 shares in the last quarter. 78.56% of the stock is currently owned by institutional investors and hedge funds.

About PG&E

(Get Free Report)

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.

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