Pacific Gas & Electric Sees Unusually High Options Volume (NYSE:PCG)

Pacific Gas & Electric Co. (NYSE:PCG) was the recipient of unusually large options trading activity on Tuesday. Investors bought 52,975 call options on the company. This represents an increase of 79% compared to the typical volume of 29,656 call options.

Pacific Gas & Electric Stock Performance

Shares of PCG opened at $15.16 on Wednesday. The business has a 50-day simple moving average of $15.62 and a two-hundred day simple moving average of $15.42. The company has a quick ratio of 0.89, a current ratio of 0.94 and a debt-to-equity ratio of 1.81. Pacific Gas & Electric has a 52 week low of $12.97 and a 52 week high of $17.95. The stock has a market cap of $33.33 billion, a price-to-earnings ratio of 12.74, a PEG ratio of 0.58 and a beta of 0.38.

Pacific Gas & Electric Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, January 15th. Stockholders of record on Wednesday, December 31st were paid a $0.05 dividend. This represents a $0.20 dividend on an annualized basis and a dividend yield of 1.3%. This is a boost from Pacific Gas & Electric’s previous quarterly dividend of $0.03. The ex-dividend date of this dividend was Wednesday, December 31st. Pacific Gas & Electric’s dividend payout ratio is currently 16.81%.

Wall Street Analyst Weigh In

A number of equities research analysts have weighed in on PCG shares. BMO Capital Markets boosted their target price on shares of Pacific Gas & Electric from $23.00 to $25.00 and gave the company an “outperform” rating in a research note on Tuesday, October 14th. Mizuho set a $21.00 price objective on Pacific Gas & Electric in a research report on Wednesday, January 21st. Weiss Ratings reissued a “hold (c)” rating on shares of Pacific Gas & Electric in a research report on Monday, December 29th. JPMorgan Chase & Co. cut their price target on Pacific Gas & Electric from $22.00 to $21.00 and set an “overweight” rating for the company in a research note on Friday, December 12th. Finally, UBS Group increased their price objective on shares of Pacific Gas & Electric from $17.00 to $18.00 and gave the stock a “neutral” rating in a research note on Friday, October 24th. Seven research analysts have rated the stock with a Buy rating, six have assigned a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $20.64.

Insider Buying and Selling at Pacific Gas & Electric

In related news, Director John O. Larsen acquired 7,500 shares of the firm’s stock in a transaction dated Tuesday, November 4th. The stock was purchased at an average cost of $15.96 per share, with a total value of $119,700.00. Following the completion of the acquisition, the director directly owned 18,111 shares of the company’s stock, valued at approximately $289,051.56. This trade represents a 70.68% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is accessible through the SEC website. 0.15% of the stock is owned by insiders.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of PCG. Root Financial Partners LLC purchased a new position in shares of Pacific Gas & Electric in the third quarter valued at about $27,000. Versant Capital Management Inc raised its stake in 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 purchasing an additional 1,735 shares during the period. Cornerstone Planning Group LLC lifted its holdings in 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 worth $36,000 after purchasing an additional 2,301 shares in the last quarter. Quent Capital LLC bought a new position in Pacific Gas & Electric in the 3rd quarter worth approximately $44,000. Finally, Sentry Investment Management LLC purchased a new stake in Pacific Gas & Electric during the 2nd quarter valued at approximately $96,000. Institutional investors own 78.56% of the company’s stock.

Pacific Gas & Electric Company Profile

Pacific Gas & Electric (NYSE: PCG) is an investor-owned utility holding company whose principal operating subsidiary, Pacific Gas and Electric Company, provides electricity and natural gas service in northern and central California. The company’s core activities include the generation, procurement, transmission and distribution of electric power, as well as the transmission and distribution of natural gas. PG&E serves a broad mix of residential, commercial, and industrial customers across urban and rural communities within its California service territory.

PG&E’s operations encompass utility infrastructure planning and construction, grid operations, customer service and energy procurement.