Pacific Gas & Electric Co. (NYSE:PCG - Get Free Report) was the recipient of some unusual options trading activity on Monday. Stock traders acquired 86,727 call options on the company. This is an increase of 69% compared to the average daily volume of 51,303 call options.
Insider Activity
In related news, EVP Marlene Santos sold 158,250 shares of Pacific Gas & Electric stock in a transaction that occurred on Wednesday, July 22nd. The shares were sold at an average price of $18.00, for a total value of $2,848,500.00. Following the sale, the executive vice president owned 230,885 shares of the company's stock, valued at approximately $4,155,930. The trade was a 40.67% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 0.22% of the stock is currently owned by insiders.
Institutional Trading of Pacific Gas & Electric
Several institutional investors and hedge funds have recently modified their holdings of the business. Geode Capital Management LLC grew its holdings in shares of Pacific Gas & Electric by 1.9% during the fourth quarter. Geode Capital Management LLC now owns 62,134,132 shares of the utilities provider's stock worth $1,019,297,000 after purchasing an additional 1,132,249 shares in the last quarter. Gallagher Fiduciary Advisors LLC bought a new stake in Pacific Gas & Electric during the second quarter valued at approximately $300,895,000. Legal & General Group Plc bought a new stake in Pacific Gas & Electric during the second quarter valued at approximately $398,915,000. Canada Pension Plan Investment Board purchased a new position in Pacific Gas & Electric in the 2nd quarter worth approximately $320,820,000. Finally, Barrow Hanley Mewhinney & Strauss LLC purchased a new position in Pacific Gas & Electric in the 2nd quarter worth approximately $314,855,000. Hedge funds and other institutional investors own 78.56% of the company's stock.
Wall Street Analyst Weigh In
PCG has been the subject of a number of recent research reports. BMO Capital Markets decreased their target price on Pacific Gas & Electric from $28.00 to $27.00 and set an "outperform" rating for the company in a research report on Friday, July 24th. JPMorgan Chase & Co. dropped their price target on Pacific Gas & Electric from $24.00 to $23.00 and set an "overweight" rating on the stock in a research report on Friday, May 15th. Weiss Ratings downgraded Pacific Gas & Electric from a "hold (c+)" rating to a "hold (c)" rating in a research note on Thursday, June 4th. Morgan Stanley decreased their price objective on Pacific Gas & Electric from $23.00 to $22.00 and set an "equal weight" rating for the company in a report on Friday. Finally, UBS Group restated a "buy" rating on shares of Pacific Gas & Electric in a research note on Tuesday, August 18th. Seven analysts have rated the stock with a Buy rating and three have given a Hold rating to the company's stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $22.20.
Check Out Our Latest Stock Analysis on PCG
Pacific Gas & Electric Stock Performance
Shares of NYSE PCG traded up $0.50 during mid-day trading on Monday, hitting $18.10. The company had a trading volume of 17,821,869 shares, compared to its average volume of 21,619,965. The company has a current ratio of 1.22, a quick ratio of 1.15 and a debt-to-equity ratio of 1.90. Pacific Gas & Electric has a 1 year low of $14.34 and a 1 year high of $19.16. The company has a market capitalization of $48.50 billion, a price-to-earnings ratio of 13.11, a P/E/G ratio of 1.14 and a beta of 0.28. The stock's 50-day moving average price is $17.28 and its 200-day moving average price is $17.28.
Pacific Gas & Electric (NYSE:PCG - Get Free Report) last issued its quarterly earnings data on Thursday, July 23rd. The utilities provider reported $0.40 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.36 by $0.04. Pacific Gas & Electric had a return on equity of 12.48% and a net margin of 12.25%.The business had revenue of $5.90 billion for the quarter, compared to analysts' expectations of $6.20 billion. During the same quarter in the prior year, the firm posted $0.31 EPS. The firm's quarterly revenue was up .1% on a year-over-year basis. Pacific Gas & Electric has set its FY 2026 guidance at 1.640-1.660 EPS. On average, sell-side analysts forecast that Pacific Gas & Electric will post 1.65 earnings per share for the current year.
About Pacific Gas & Electric
(
Get Free Report)
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.
Further Reading
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