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

Pacific Gas & Electric Co. (NYSE:PCG) saw unusually large options trading activity on Tuesday. Traders acquired 114,248 call options on the stock. This represents an increase of 245% compared to the average daily volume of 33,107 call options.

Pacific Gas & Electric Stock Up 1.0%

Shares of NYSE:PCG traded up $0.17 during mid-day trading on Tuesday, hitting $16.80. 21,511,774 shares of the company traded hands, compared to its average volume of 21,570,352. The stock has a 50-day moving average price of $16.67 and a two-hundred day moving average price of $16.71. Pacific Gas & Electric has a 12-month low of $12.97 and a 12-month high of $19.16. The stock has a market cap of $45.02 billion, a P/E ratio of 13.02, a P/E/G ratio of 0.63 and a beta of 0.27. The company has a current ratio of 1.20, a quick ratio of 1.13 and a debt-to-equity ratio of 1.88.

Pacific Gas & Electric (NYSE:PCG) last issued its quarterly earnings data on Thursday, April 23rd. The utilities provider reported $0.43 earnings per share for the quarter, beating the consensus estimate of $0.39 by $0.04. Pacific Gas & Electric had a return on equity of 11.95% and a net margin of 11.44%.The business had revenue of $6.88 billion for the quarter, compared to analysts’ expectations of $6.20 billion. During the same period last year, the business earned $0.33 EPS. The business’s revenue was up 15.0% on a year-over-year basis. Pacific Gas & Electric has set its FY 2026 guidance at 1.640-1.660 EPS. On average, equities research analysts forecast that Pacific Gas & Electric will post 1.65 earnings per share for the current year.

Pacific Gas & Electric Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 15th. Shareholders of record on Tuesday, June 30th will be paid a $0.05 dividend. The ex-dividend date is Tuesday, June 30th. This represents a $0.20 annualized dividend and a yield of 1.2%. Pacific Gas & Electric’s dividend payout ratio (DPR) is 15.50%.

Insider Transactions at Pacific Gas & Electric

In other Pacific Gas & Electric news, EVP Jason M. Glickman sold 47,264 shares of the company’s stock in a transaction on Tuesday, April 28th. The shares were sold at an average price of $16.35, for a total transaction of $772,766.40. Following the sale, the executive vice president owned 136,433 shares of the company’s stock, valued at approximately $2,230,679.55. This represents a 25.73% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 0.22% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Pacific Gas & Electric

A number of hedge funds and other institutional investors have recently modified their holdings of PCG. Tobam purchased a new stake in shares of Pacific Gas & Electric during the fourth quarter valued at approximately $30,000. Torren Management LLC purchased a new stake in shares of Pacific Gas & Electric during the 4th quarter valued at $33,000. Modus Advisors LLC purchased a new stake in shares of Pacific Gas & Electric during the 4th quarter valued at $36,000. Brown Brothers Harriman & Co. raised its stake in shares of Pacific Gas & Electric by 908.8% during the 3rd quarter. Brown Brothers Harriman & Co. now owns 6,618 shares of the utilities provider’s stock worth $100,000 after purchasing an additional 5,962 shares during the period. Finally, Livforsakringsbolaget Skandia Omsesidigt raised its stake in shares of Pacific Gas & Electric by 350.0% during the 3rd quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 9,900 shares of the utilities provider’s stock worth $149,000 after purchasing an additional 7,700 shares during the period. Hedge funds and other institutional investors own 78.56% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts have weighed in on the stock. Truist Financial decreased their price target on shares of Pacific Gas & Electric from $23.00 to $22.00 and set a “buy” rating for the company in a research note on Monday, May 18th. Weiss Ratings cut Pacific Gas & Electric from a “hold (c+)” rating to a “hold (c)” rating in a research note on Thursday, June 4th. Morgan Stanley set a $22.00 target price on Pacific Gas & Electric in a research report on Thursday, May 21st. Wells Fargo & Company reiterated an “overweight” rating and issued a $25.00 target price on shares of Pacific Gas & Electric in a report on Tuesday, April 21st. Finally, Wall Street Zen upgraded shares of Pacific Gas & Electric from a “hold” rating to a “buy” rating in a research note on Saturday, June 13th. Seven analysts have rated the stock with a Buy rating, three have given a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, Pacific Gas & Electric presently has an average rating of “Moderate Buy” and a consensus target price of $22.10.

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.