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

Pacific Gas & Electric Co. (NYSE:PCG) was the target of some unusual options trading on Tuesday. Investors purchased 52,975 call options on the stock. This represents an increase of approximately 79% compared to the typical volume of 29,656 call options.

Pacific Gas & Electric Stock Down 0.6%

PCG stock traded down $0.08 during mid-day trading on Tuesday, hitting $15.11. 8,722,545 shares of the company were exchanged, compared to its average volume of 21,445,035. 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 firm has a market cap of $33.20 billion, a P/E ratio of 12.70, a P/E/G ratio of 0.57 and a beta of 0.38. The firm’s 50 day simple moving average is $15.64 and its 200 day simple moving average is $15.41. Pacific Gas & Electric has a 1-year low of $12.97 and a 1-year high of $17.95.

Pacific Gas & Electric Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, January 15th. Investors of record on Wednesday, December 31st were given a $0.05 dividend. This is an increase 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%. The ex-dividend date of this dividend was Wednesday, December 31st. Pacific Gas & Electric’s dividend payout ratio (DPR) is presently 16.81%.

Analysts Set New Price Targets

PCG has been the subject of several recent research reports. Mizuho set a $21.00 target price on shares of Pacific Gas & Electric in a research note on Wednesday, January 21st. Wall Street Zen raised Pacific Gas & Electric from a “hold” rating to a “buy” rating in a research note on Saturday, January 17th. TD Cowen restated a “buy” rating on shares of Pacific Gas & Electric in a research report on Thursday, December 4th. Wells Fargo & Company upped their price target on shares of Pacific Gas & Electric from $23.00 to $24.00 and gave the stock an “overweight” rating in a research note on Tuesday, January 20th. Finally, BMO Capital Markets raised their price target on Pacific Gas & Electric from $23.00 to $25.00 and gave the stock an “outperform” rating in a research note on Tuesday, October 14th. Seven analysts have rated the stock with a Buy rating, six have given a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, Pacific Gas & Electric has an average rating of “Hold” and an average price target of $20.64.

Insider Activity

In other news, Director John O. Larsen bought 7,500 shares of Pacific Gas & Electric stock in a transaction dated Tuesday, November 4th. The stock was acquired at an average cost of $15.96 per share, with a total value of $119,700.00. Following the acquisition, the director 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 legal filing with the SEC, which is accessible through this link. Insiders own 0.15% of the company’s stock.

Institutional Trading of Pacific Gas & Electric

Several institutional investors and hedge funds have recently added to or reduced their stakes in PCG. Root Financial Partners LLC acquired a new stake in shares of Pacific Gas & Electric during the third quarter worth $27,000. Versant Capital Management Inc raised its holdings in shares of Pacific Gas & Electric by 826.2% in the 3rd quarter. Versant Capital Management Inc now owns 1,945 shares of the utilities provider’s stock worth $29,000 after acquiring an additional 1,735 shares during the last quarter. Cornerstone Planning Group LLC grew its holdings in 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 buying an additional 2,301 shares in the last quarter. Quent Capital LLC bought a new position in shares of Pacific Gas & Electric during the 3rd quarter worth approximately $44,000. Finally, Sentry Investment Management LLC purchased a new stake in shares of Pacific Gas & Electric during the second quarter valued at approximately $96,000. 78.56% of the stock is owned by institutional investors.

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.