PG&E (NYSE:PCG) Shares Gap Down - What's Next?

Shares of PG&E Co. (NYSE:PCG - Get Free Report) gapped down prior to trading on Friday . The stock had previously closed at $19.25, but opened at $17.97. PG&E shares last traded at $17.75, with a volume of 8,956,799 shares.

Analyst Upgrades and Downgrades

A number of research firms have issued reports on PCG. UBS Group cut their price target on PG&E from $26.00 to $24.00 and set a "buy" rating on the stock in a report on Thursday, December 19th. Jefferies Financial Group began coverage on shares of PG&E in a research note on Monday, October 14th. They set a "buy" rating and a $24.00 target price on the stock. Mizuho lifted their price target on shares of PG&E from $24.00 to $26.00 and gave the company an "outperform" rating in a research note on Wednesday, November 27th. 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 report on Wednesday, September 25th. Finally, Barclays decreased their target price on PG&E from $25.00 to $24.00 and set an "overweight" rating for the company in a research report on Tuesday, December 17th. Two research analysts have rated the stock with a hold rating and nine have given a buy rating to the company's stock. According to data from MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus price target of $22.80.

PG&E Stock Performance

The company has a 50-day moving average of $20.35 and a 200-day moving average of $19.48. The company has a market cap of $44.98 billion, a PE ratio of 13.44, a PEG ratio of 1.51 and a beta of 0.98. The company has a quick ratio of 0.99, a current ratio of 1.04 and a debt-to-equity ratio of 2.02.

PG&E (NYSE:PCG - Get Free Report) last posted its earnings results on Thursday, November 7th. The utilities provider reported $0.37 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.32 by $0.05. PG&E had a net margin of 11.11% and a return on equity of 12.51%. The firm had revenue of $5.94 billion during the quarter, compared to analyst estimates of $6.58 billion. During the same quarter in the prior year, the business posted $0.24 EPS. The business's revenue was up .9% compared to the same quarter last year. As a group, analysts anticipate that PG&E Co. will post 1.36 earnings per share for the current year.

PG&E Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, January 15th. Shareholders of record on Tuesday, December 31st will be given a dividend of $0.025 per share. The ex-dividend date is Tuesday, December 31st. This represents a $0.10 annualized dividend and a dividend yield of 0.58%. This is a boost from PG&E's previous quarterly dividend of $0.01. PG&E's dividend payout ratio (DPR) is currently 7.81%.

Insider Activity

In other news, CEO Patricia K. Poppe sold 55,555 shares of the stock in a transaction that occurred on Monday, December 2nd. The shares were sold at an average price of $20.66, for a total transaction of $1,147,766.30. Following the completion of the transaction, the chief executive officer now directly owns 1,460,222 shares of the company's stock, valued at $30,168,186.52. This represents a 3.67 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 0.15% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On PG&E

Several institutional investors and hedge funds have recently bought and sold shares of the company. Versant Capital Management Inc lifted its position in shares of PG&E by 68.3% during the 4th quarter. Versant Capital Management Inc now owns 1,543 shares of the utilities provider's stock valued at $31,000 after buying an additional 626 shares during the last quarter. Commerce Bank increased its stake in shares of PG&E by 1.5% in the third quarter. Commerce Bank now owns 47,051 shares of the utilities provider's stock worth $930,000 after purchasing an additional 712 shares in the last quarter. Baker Tilly Wealth Management LLC raised its position in shares of PG&E by 4.6% in the fourth quarter. Baker Tilly Wealth Management LLC now owns 16,337 shares of the utilities provider's stock valued at $330,000 after purchasing an additional 715 shares during the period. Continuum Advisory LLC lifted its stake in shares of PG&E by 11.4% during the 3rd quarter. Continuum Advisory LLC now owns 7,501 shares of the utilities provider's stock valued at $157,000 after buying an additional 769 shares in the last quarter. Finally, Alta Advisers Ltd boosted its holdings in PG&E by 19.5% in the 2nd quarter. Alta Advisers Ltd now owns 4,900 shares of the utilities provider's stock worth $86,000 after buying an additional 800 shares during the period. 78.56% of the stock is owned by institutional investors.

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.