PG&E Target of Unusually High Options Trading (NYSE:PCG)

PG&E Co. (NYSE:PCG) was the recipient of some unusual options trading on Wednesday. Traders acquired 37,894 put options on the company. This represents an increase of 87% compared to the average daily volume of 20,282 put options.

Analyst Upgrades and Downgrades

A number of equities analysts recently commented on PCG shares. JPMorgan Chase & Co. reiterated an “overweight” rating and set a $22.00 price target on shares of PG&E in a report on Wednesday. BMO Capital Markets started coverage on PG&E in a research report on Monday, January 13th. They issued an “outperform” rating and a $21.00 price objective for the company. Mizuho increased their price target on PG&E from $24.00 to $26.00 and gave the company an “outperform” rating in a research note on Wednesday, November 27th. Barclays cut their price target on PG&E from $24.00 to $23.00 and set an “overweight” rating for the company in a report on Monday, January 27th. Finally, UBS Group decreased their price objective on shares of PG&E from $24.00 to $22.00 and set a “buy” rating on the stock in a report on Thursday, January 30th. One equities research analyst has rated the stock with a hold rating and ten have given a buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $22.36.

Insider Buying and Selling at PG&E

In other news, CEO Patricia K. Poppe sold 55,555 shares of PG&E stock in a transaction dated Monday, December 2nd. The shares were 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 of the company’s stock, valued at $30,168,186.52. This trade represents a 3.67 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Corporate insiders own 0.15% of the company’s stock.

Hedge Funds Weigh In On PG&E

Several hedge funds and other institutional investors have recently modified their holdings of the business. Versant Capital Management Inc boosted its stake in PG&E by 68.3% in the fourth 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 in the last quarter. UMB Bank n.a. lifted its stake in PG&E by 61.5% in the 4th quarter. UMB Bank n.a. now owns 3,956 shares of the utilities provider’s stock valued at $80,000 after purchasing an additional 1,506 shares during the last quarter. Blue Trust Inc. lifted its stake in PG&E by 77.7% in the 3rd quarter. Blue Trust Inc. now owns 4,195 shares of the utilities provider’s stock valued at $83,000 after purchasing an additional 1,834 shares during the last quarter. Catalyst Capital Advisors LLC boosted its position in PG&E by 98.5% in the third quarter. Catalyst Capital Advisors LLC now owns 4,340 shares of the utilities provider’s stock valued at $86,000 after buying an additional 2,154 shares in the last quarter. Finally, Huntington National Bank increased its holdings in shares of PG&E by 32.9% during the third quarter. Huntington National Bank now owns 4,831 shares of the utilities provider’s stock worth $96,000 after buying an additional 1,195 shares in the last quarter. Institutional investors own 78.56% of the company’s stock.

PG&E Stock Down 0.8 %

Shares of NYSE PCG opened at $15.90 on Friday. The stock has a market capitalization of $41.57 billion, a P/E ratio of 12.42, a PEG ratio of 1.09 and a beta of 0.99. The stock’s fifty day moving average is $18.12 and its 200 day moving average is $19.24. PG&E has a 52 week low of $14.99 and a 52 week high of $21.72. The company has a debt-to-equity ratio of 2.02, a quick ratio of 0.99 and a current ratio of 1.04.

PG&E (NYSE:PCG) last issued its quarterly earnings results on Thursday, February 13th. The utilities provider reported $0.31 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.31. PG&E had a net margin of 11.11% and a return on equity of 12.51%. During the same quarter in the prior year, the firm posted $0.47 earnings per share. Sell-side analysts forecast that PG&E will post 1.36 earnings per share for the current fiscal year.

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.