PG&E (NYSE:PCG) Sees Large Volume Increase – Should You Buy?

Shares of PG&E Co. (NYSE:PCG) saw unusually-strong trading volume on Friday . Approximately 8,820,336 shares traded hands during trading, a decline of 38% from the previous session’s volume of 14,296,628 shares.The stock last traded at $19.46 and had previously closed at $19.42.

Analyst Upgrades and Downgrades

A number of research analysts recently issued reports on the stock. Bank of America began coverage on shares of PG&E in a report on Thursday, September 12th. They set a “buy” rating and a $24.00 price objective for the company. Jefferies Financial Group started coverage on shares of PG&E in a report on Monday, October 14th. They issued a “buy” rating and a $24.00 price objective on the stock. Morgan Stanley increased their price objective on shares of PG&E from $19.00 to $20.00 and gave the stock an “equal weight” rating in a research note on Wednesday, September 25th. Mizuho boosted their price target on PG&E from $24.00 to $26.00 and gave the stock an “outperform” rating in a research report on Wednesday, November 27th. Finally, UBS Group dropped their price target on shares of PG&E from $26.00 to $24.00 and set a “buy” rating on the stock in a research report on Thursday. Two equities research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $22.80.

PG&E Price Performance

The firm has a 50 day moving average price of $20.51 and a 200 day moving average price of $19.28. The company has a current ratio of 1.04, a quick ratio of 0.99 and a debt-to-equity ratio of 2.02. The stock has a market capitalization of $51.76 billion, a PE ratio of 15.46, a price-to-earnings-growth ratio of 1.51 and a beta of 1.01.

PG&E (NYSE:PCG) last released its earnings results on Thursday, November 7th. The utilities provider reported $0.37 EPS for the quarter, topping analysts’ consensus estimates of $0.32 by $0.05. The company had revenue of $5.94 billion for the quarter, compared to analysts’ expectations of $6.58 billion. PG&E had a net margin of 11.11% and a return on equity of 12.51%. The firm’s revenue was up .9% compared to the same quarter last year. During the same quarter last year, the business earned $0.24 EPS. Research analysts anticipate that PG&E Co. will post 1.36 earnings per share for the current year.

PG&E Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, January 15th. Shareholders of record on Tuesday, December 31st will be paid a $0.025 dividend. This represents a $0.10 dividend on an annualized basis and a yield of 0.51%. The ex-dividend date of this dividend is Tuesday, December 31st. This is a positive change from PG&E’s previous quarterly dividend of $0.01. PG&E’s dividend payout ratio is presently 7.81%.

Insider Activity

In related news, CEO Patricia K. Poppe sold 55,555 shares of PG&E stock in a transaction dated Monday, December 2nd. The stock was sold at an average price of $20.66, for a total value of $1,147,766.30. Following the completion of the transaction, the chief executive officer now owns 1,460,222 shares in the company, valued at approximately $30,168,186.52. This trade represents a 3.67 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Company insiders own 0.15% of the company’s stock.

Hedge Funds Weigh In On PG&E

A number of institutional investors and hedge funds have recently modified their holdings of the stock. Rothschild Investment LLC purchased a new stake in shares of PG&E in the second quarter worth approximately $30,000. UMB Bank n.a. boosted its stake in shares of PG&E by 84.7% during the second quarter. UMB Bank n.a. now owns 2,204 shares of the utilities provider’s stock valued at $38,000 after purchasing an additional 1,011 shares during the period. Blue Trust Inc. grew its holdings in shares of PG&E by 77.0% in the second quarter. Blue Trust Inc. now owns 2,361 shares of the utilities provider’s stock worth $40,000 after purchasing an additional 1,027 shares during the last quarter. Plato Investment Management Ltd purchased a new position in PG&E in the 2nd quarter worth about $44,000. Finally, Crewe Advisors LLC raised its stake in shares of PG&E by 243.0% during the second quarter. Crewe Advisors LLC now owns 4,041 shares of the utilities provider’s stock valued at $71,000 after acquiring an additional 2,863 shares in the last quarter. Hedge funds and other institutional investors own 78.56% of the company’s stock.

PG&E Company Profile

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.