Investors Purchase Large Volume of Call Options on PG&E (NYSE:PCG)

PG&E Co. (NYSE:PCG) was the target of unusually large options trading on Friday. Investors purchased 42,462 call options on the stock. This represents an increase of approximately 48% compared to the typical daily volume of 28,747 call options.

Analysts Set New Price Targets

A number of research analysts recently weighed in on PCG shares. Barclays dropped their price target on shares of PG&E from $23.00 to $22.00 and set an “overweight” rating on the stock in a research report on Wednesday, April 9th. Morgan Stanley reissued an “underweight” rating on shares of PG&E in a research report on Wednesday, April 23rd. Wells Fargo & Company reaffirmed an “overweight” rating and issued a $24.00 target price on shares of PG&E in a report on Friday, April 25th. BMO Capital Markets dropped their price target on PG&E from $23.00 to $22.00 and set an “outperform” rating on the stock in a report on Monday, April 14th. Finally, Jefferies Financial Group boosted their price objective on PG&E from $20.00 to $22.00 and gave the stock a “buy” rating in a research report on Wednesday, April 23rd. One research analyst has rated the stock with a sell rating, three have issued a hold rating and eight have given a buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $21.13.

PG&E Price Performance

PCG opened at $17.85 on Friday. The stock’s 50 day simple moving average is $17.00 and its 200 day simple moving average is $17.94. PG&E has a 1 year low of $14.99 and a 1 year high of $21.72. The company has a debt-to-equity ratio of 1.86, a current ratio of 1.05 and a quick ratio of 1.00. The firm has a market cap of $47.76 billion, a price-to-earnings ratio of 15.52, a PEG ratio of 1.09 and a beta of 0.63.

PG&E (NYSE:PCG) last announced its earnings results on Thursday, April 24th. The utilities provider reported $0.33 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.35 by ($0.02). PG&E had a return on equity of 10.94% and a net margin of 10.27%. The firm had revenue of $5.98 billion during the quarter, compared to the consensus estimate of $6.23 billion. During the same period in the prior year, the company posted $0.37 EPS. The firm’s revenue was up 2.1% on a year-over-year basis. As a group, analysts predict that PG&E will post 1.49 earnings per share for the current year.

PG&E Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, April 15th. Stockholders of record on Monday, March 31st were paid a $0.025 dividend. This represents a $0.10 dividend on an annualized basis and a dividend yield of 0.56%. The ex-dividend date was Monday, March 31st. PG&E’s dividend payout ratio (DPR) is 9.17%.

Insiders Place Their Bets

In other PG&E news, Director Arno Lockheart Harris bought 6,389 shares of the stock in a transaction that occurred on Thursday, February 20th. The shares were bought at an average price of $15.66 per share, for a total transaction of $100,051.74. Following the acquisition, the director now directly owns 14,864 shares of the company’s stock, valued at approximately $232,770.24. The trade was a 75.39% increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Carla J. Peterman sold 32,521 shares of PG&E stock in a transaction dated Tuesday, March 4th. The shares were sold at an average price of $16.37, for a total value of $532,368.77. Following the transaction, the executive vice president now owns 183,635 shares of the company’s stock, valued at $3,006,104.95. This trade represents a 15.05% decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 0.14% of the company’s stock.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in the business. Costello Asset Management INC purchased a new position in shares of PG&E in the first quarter worth $31,000. True Wealth Design LLC lifted its stake in PG&E by 1,233.6% in the 4th quarter. True Wealth Design LLC now owns 1,827 shares of the utilities provider’s stock worth $37,000 after purchasing an additional 1,690 shares in the last quarter. Deseret Mutual Benefit Administrators boosted its holdings in shares of PG&E by 45.0% during the 1st quarter. Deseret Mutual Benefit Administrators now owns 2,173 shares of the utilities provider’s stock valued at $37,000 after purchasing an additional 674 shares during the last quarter. Colonial Trust Co SC grew its position in shares of PG&E by 563.0% during the fourth quarter. Colonial Trust Co SC now owns 1,916 shares of the utilities provider’s stock valued at $39,000 after purchasing an additional 1,627 shares in the last quarter. Finally, Safe Harbor Fiduciary LLC purchased a new position in shares of PG&E during the first quarter valued at about $39,000. 78.56% of the stock is owned by hedge funds and other institutional investors.

About PG&E

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.