PG&E (NYSE:PCG) Sees Unusually-High Trading Volume

PG&E Co. (NYSE:PCG) shares saw unusually-high trading volume on Wednesday . Approximately 9,683,314 shares changed hands during mid-day trading, a decline of 42% from the previous session’s volume of 16,665,641 shares.The stock last traded at $16.59 and had previously closed at $16.27.

Analysts Set New Price Targets

Several equities research analysts recently commented on the stock. Barclays cut their price target on shares of PG&E from $20.00 to $19.00 and set an “overweight” rating on the stock in a research note on Monday, January 22nd. StockNews.com upgraded PG&E from a “sell” rating to a “hold” rating in a research report on Thursday, February 1st. Four equities research analysts have rated the stock with a hold rating and four have given a buy rating to the stock. According to data from MarketBeat, PG&E has a consensus rating of “Moderate Buy” and a consensus target price of $18.72.

PG&E Stock Performance

The stock has a fifty day moving average of $16.54 and a 200-day moving average of $16.86. The company has a quick ratio of 0.78, a current ratio of 0.83 and a debt-to-equity ratio of 2.04. The stock has a market cap of $43.74 billion, a PE ratio of 15.95, a price-to-earnings-growth ratio of 4.93 and a beta of 1.32.

PG&E (NYSE:PCG) last released its earnings results on Thursday, February 22nd. The utilities provider reported $0.47 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.46 by $0.01. PG&E had a return on equity of 10.84% and a net margin of 9.24%. The business had revenue of $7.04 billion for the quarter, compared to analyst estimates of $6.43 billion. During the same quarter in the previous year, the company posted $0.26 earnings per share. On average, equities analysts forecast that PG&E Co. will post 1.35 EPS for the current year.

PG&E Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, April 15th. Stockholders of record on Thursday, March 28th will be paid a dividend of $0.01 per share. The ex-dividend date is Wednesday, March 27th. This represents a $0.04 dividend on an annualized basis and a dividend yield of 0.24%. PG&E’s dividend payout ratio (DPR) is 3.81%.

Institutional Investors Weigh In On PG&E

Institutional investors have recently added to or reduced their stakes in the business. Clear Street Markets LLC purchased a new stake in shares of PG&E in the fourth quarter valued at approximately $26,000. Quarry LP purchased a new stake in shares of PG&E during the 2nd quarter worth $34,000. Toth Financial Advisory Corp acquired a new position in shares of PG&E during the 3rd quarter worth $35,000. Planned Solutions Inc. purchased a new position in shares of PG&E in the 4th quarter valued at about $37,000. Finally, AdvisorNet Financial Inc lifted its stake in shares of PG&E by 470.6% in the third quarter. AdvisorNet Financial Inc now owns 2,442 shares of the utilities provider’s stock valued at $39,000 after purchasing an additional 2,014 shares during the period. Hedge funds and other institutional investors own 78.56% of the company’s stock.

About PG&E

PG&E Corporation, through its subsidiary, Pacific Gas and Electric Company, engages in the sale and delivery of electricity and natural gas to customers in northern and central California, the United States. It generates electricity using nuclear, hydroelectric, fossil fuel-fired, fuel cell, and photovoltaic sources.