Pacific Gas & Electric Target of Unusually High Options Trading (NYSE:PCG)

Pacific Gas & Electric Co. (NYSE:PCG) was the recipient of some unusual options trading on Tuesday. Stock traders acquired 242,817 call options on the stock. This is an increase of approximately 199% compared to the typical daily volume of 81,290 call options.

Institutional Inflows and Outflows

A number of large investors have recently bought and sold shares of the stock. Root Financial Partners LLC purchased a new stake in shares of Pacific Gas & Electric in the third quarter valued at approximately $27,000. Costello Asset Management INC purchased a new stake in shares of Pacific Gas & Electric during the first quarter worth about $31,000. Versant Capital Management Inc increased its stake in shares of Pacific Gas & Electric by 826.2% during the third quarter. Versant Capital Management Inc now owns 1,945 shares of the utilities provider’s stock worth $29,000 after purchasing an additional 1,735 shares in the last quarter. Safe Harbor Fiduciary LLC purchased a new stake in shares of Pacific Gas & Electric during the first quarter worth about $39,000. Finally, Cornerstone Planning Group LLC increased its stake in shares of Pacific Gas & Electric by 3,240.8% during the third quarter. Cornerstone Planning Group LLC now owns 2,372 shares of the utilities provider’s stock worth $36,000 after purchasing an additional 2,301 shares in the last quarter. 78.56% of the stock is owned by institutional investors and hedge funds.

Pacific Gas & Electric Trading Up 1.6%

Shares of NYSE:PCG opened at $16.17 on Wednesday. Pacific Gas & Electric has a 52-week low of $12.97 and a 52-week high of $21.72. The business has a 50-day moving average price of $15.63 and a 200-day moving average price of $15.41. The company has a quick ratio of 0.89, a current ratio of 0.94 and a debt-to-equity ratio of 1.81. The stock has a market cap of $35.53 billion, a price-to-earnings ratio of 13.58, a PEG ratio of 0.66 and a beta of 0.58.

Pacific Gas & Electric (NYSE:PCG) last posted its earnings results on Monday, May 15th. The utilities provider reported $0.30 earnings per share (EPS) for the quarter. The company had revenue of $5.80 billion during the quarter. Pacific Gas & Electric had a net margin of 10.93% and a return on equity of 11.10%. Equities analysts predict that Pacific Gas & Electric will post 1.49 EPS for the current year.

Pacific Gas & Electric Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, October 15th. Shareholders of record on Tuesday, September 30th were issued a $0.025 dividend. The ex-dividend date of this dividend was Tuesday, September 30th. This represents a $0.10 dividend on an annualized basis and a yield of 0.6%. Pacific Gas & Electric’s payout ratio is presently 8.40%.

Wall Street Analysts Forecast Growth

Several equities analysts have commented on the company. Weiss Ratings reaffirmed a “hold (c-)” rating on shares of Pacific Gas & Electric in a research note on Wednesday, October 8th. Cowen assumed coverage on Pacific Gas & Electric in a research report on Wednesday, October 15th. They set a “buy” rating on the stock. TD Cowen assumed coverage on Pacific Gas & Electric in a research report on Thursday, October 16th. They set a “buy” rating and a $21.00 price target on the stock. Barclays increased their price target on Pacific Gas & Electric from $20.00 to $21.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 1st. Finally, UBS Group increased their price target on Pacific Gas & Electric from $17.00 to $18.00 and gave the stock a “neutral” rating in a research report on Friday, October 24th. Two investment analysts have rated the stock with a Strong Buy rating, seven have given a Buy rating and six have assigned a Hold rating to the company. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $20.64.

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.