PG&E (NYSE:PCG) Trading Down 3.9% - Time to Sell?

PG&E Co. (NYSE:PCG - Get Free Report) shares were down 3.9% during mid-day trading on Wednesday . The company traded as low as $14.01 and last traded at $14.22. Approximately 5,848,109 shares traded hands during mid-day trading, a decline of 66% from the average daily volume of 17,168,296 shares. The stock had previously closed at $14.79.

Analyst Ratings Changes

A number of analysts have commented on the company. Jefferies Financial Group raised their price objective on PG&E from $20.00 to $22.00 and gave the stock a "buy" rating in a research report on Wednesday, April 23rd. Mizuho raised their price objective on PG&E from $20.00 to $21.00 and gave the stock an "outperform" rating in a research report on Monday, May 19th. Evercore ISI raised their price objective on PG&E from $15.00 to $17.00 and gave the stock an "in-line" rating in a research report on Monday, April 28th. Morgan Stanley set a $18.00 price objective on PG&E and gave the stock an "underweight" rating in a research report on Thursday, May 22nd. Finally, UBS Group downgraded PG&E from a "buy" rating to a "neutral" rating and reduced their price objective for the stock from $22.00 to $19.00 in a research report on Wednesday, March 19th. One analyst has rated the stock with a sell rating, three have issued a hold rating and eight have issued a buy rating to the stock. According to MarketBeat, PG&E currently has a consensus rating of "Moderate Buy" and a consensus price target of $20.75.

PG&E Trading Down 4.9%

The company has a debt-to-equity ratio of 1.86, a current ratio of 1.05 and a quick ratio of 1.00. The business has a 50 day moving average of $16.72 and a 200 day moving average of $17.28. The firm has a market capitalization of $36.39 billion, a price-to-earnings ratio of 11.83, a PEG ratio of 1.09 and a beta of 0.60.

PG&E (NYSE:PCG - Get Free Report) last announced its quarterly earnings data on Thursday, April 24th. The utilities provider reported $0.33 EPS for the quarter, missing analysts' consensus estimates of $0.35 by ($0.02). The company had revenue of $5.98 billion for the quarter, compared to analyst estimates of $6.23 billion. PG&E had a return on equity of 10.94% and a net margin of 10.27%. The firm's revenue for the quarter was up 2.1% on a year-over-year basis. During the same period last year, the firm earned $0.37 earnings per share. As a group, research analysts predict that PG&E Co. will post 1.49 earnings per share for the current fiscal year.

PG&E Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, July 15th. Shareholders of record on Monday, June 30th will be issued a dividend of $0.025 per share. The ex-dividend date is Monday, June 30th. This represents a $0.10 annualized dividend and a yield of 0.74%. PG&E's dividend payout ratio is presently 9.17%.

Insiders Place Their Bets

In other news, EVP Carla J. Peterman sold 32,519 shares of the business's stock in a transaction dated Tuesday, April 29th. The stock was sold at an average price of $17.30, for a total value of $562,578.70. Following the sale, the executive vice president now directly owns 151,116 shares in the company, valued at $2,614,306.80. The trade was a 17.71% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Corporate insiders own 0.14% of the company's stock.

Institutional Trading of PG&E

A number of institutional investors have recently modified their holdings of the company. Strs Ohio bought a new stake in shares of PG&E in the first quarter valued at about $16,330,000. GK Wealth Management LLC raised its holdings in PG&E by 11.0% during the first quarter. GK Wealth Management LLC now owns 19,046 shares of the utilities provider's stock worth $327,000 after acquiring an additional 1,895 shares in the last quarter. Intech Investment Management LLC raised its holdings in PG&E by 210.8% during the first quarter. Intech Investment Management LLC now owns 788,408 shares of the utilities provider's stock worth $13,545,000 after acquiring an additional 534,741 shares in the last quarter. Focus Partners Wealth raised its holdings in PG&E by 93.0% during the first quarter. Focus Partners Wealth now owns 83,816 shares of the utilities provider's stock worth $1,440,000 after acquiring an additional 40,380 shares in the last quarter. Finally, Glenview Trust co raised its holdings in PG&E by 28.5% during the first quarter. Glenview Trust co now owns 12,849 shares of the utilities provider's stock worth $221,000 after acquiring an additional 2,848 shares in the last quarter. 78.56% of the stock is currently owned by institutional investors.

PG&E Company Profile

PG&E Corp. operates as a holding company, which engages in generation, transmission, and distribution of electricity and natural gas to customers. It specializes in energy, utility, power, gas, electricity, solar and sustainability. The company was founded in 1995 and is headquartered in Oakland, CA.