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

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

Insiders Place Their Bets

In related news, Director John O. Larsen purchased 7,500 shares of the firm’s stock in a transaction on Tuesday, November 4th. The stock was bought 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 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 filing with the SEC, which is accessible through the SEC website. Corporate insiders own 0.15% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of the business. Miller Howard Investments Inc. NY lifted its position in Pacific Gas & Electric by 4.4% during the fourth quarter. Miller Howard Investments Inc. NY now owns 81,575 shares of the utilities provider’s stock worth $1,311,000 after buying an additional 3,423 shares in the last quarter. Farther Finance Advisors LLC raised its stake in Pacific Gas & Electric by 80.3% during the fourth quarter. Farther Finance Advisors LLC now owns 81,917 shares of the utilities provider’s stock worth $1,316,000 after purchasing an additional 36,480 shares during the period. Transcend Capital Advisors LLC boosted its holdings in Pacific Gas & Electric by 45.7% in the 4th quarter. Transcend Capital Advisors LLC now owns 71,081 shares of the utilities provider’s stock valued at $1,142,000 after purchasing an additional 22,298 shares during the last quarter. SG Americas Securities LLC grew its stake in shares of Pacific Gas & Electric by 3,875.9% in the 4th quarter. SG Americas Securities LLC now owns 639,689 shares of the utilities provider’s stock valued at $10,280,000 after buying an additional 623,600 shares during the period. Finally, GAMMA Investing LLC increased its holdings in shares of Pacific Gas & Electric by 11.0% during the 4th quarter. GAMMA Investing LLC now owns 16,409 shares of the utilities provider’s stock worth $264,000 after buying an additional 1,625 shares during the last quarter. 78.56% of the stock is owned by hedge funds and other institutional investors.

Pacific Gas & Electric Stock Down 1.6%

Shares of PCG opened at $14.93 on Thursday. The stock has a 50 day moving average price of $15.60 and a 200 day moving average price of $15.42. Pacific Gas & Electric has a one year low of $12.97 and a one year high of $17.95. The company has a debt-to-equity ratio of 1.81, a quick ratio of 0.89 and a current ratio of 0.94. The stock has a market capitalization of $32.80 billion, a price-to-earnings ratio of 12.54, a PEG ratio of 0.58 and a beta of 0.38.

Pacific Gas & Electric Increases Dividend

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

Analyst Upgrades and Downgrades

Several equities analysts recently issued reports on PCG shares. UBS Group boosted their target price on shares of Pacific Gas & Electric from $17.00 to $18.00 and gave the company a “neutral” rating in a research note on Friday, October 24th. Jefferies Financial Group cut their price target on Pacific Gas & Electric from $21.00 to $20.00 and set a “buy” rating for the company in a research note on Wednesday. Barclays upped their price target on Pacific Gas & Electric from $20.00 to $21.00 and gave the stock an “overweight” rating in a report on Wednesday, October 1st. BMO Capital Markets raised their price objective on Pacific Gas & Electric from $23.00 to $25.00 and gave the company an “outperform” rating in a report on Tuesday, October 14th. Finally, JPMorgan Chase & Co. reduced their target price 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. Seven investment analysts have rated the stock with a Buy rating, six have issued a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $20.55.

About Pacific Gas & Electric

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.