Investors Purchase High Volume of Put Options on PG&E (PCG)

PG&E Co. (NYSE:PCG) was the recipient of some unusual options trading activity on Thursday. Traders acquired 18,967 put options on the company. This represents an increase of 1,127% compared to the typical daily volume of 1,546 put options.

In related news, VP David S. Thomason sold 700 shares of PG&E stock in a transaction on Wednesday, November 15th. The shares were sold at an average price of $56.82, for a total value of $39,774.00. Following the transaction, the vice president now directly owns 6,657 shares in the company, valued at approximately $378,250.74. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Company insiders own 0.15% of the company’s stock.

Several large investors have recently added to or reduced their stakes in the company. Blair William & Co. IL raised its stake in shares of PG&E by 7.4% during the 2nd quarter. Blair William & Co. IL now owns 4,315 shares of the utilities provider’s stock worth $286,000 after buying an additional 298 shares during the last quarter. Piedmont Investment Advisors LLC increased its position in PG&E by 0.9% during the 3rd quarter. Piedmont Investment Advisors LLC now owns 110,358 shares of the utilities provider’s stock worth $7,514,000 after purchasing an additional 1,022 shares in the last quarter. Parallel Advisors LLC increased its position in PG&E by 15.5% during the 2nd quarter. Parallel Advisors LLC now owns 8,573 shares of the utilities provider’s stock worth $580,000 after purchasing an additional 1,150 shares in the last quarter. Calamos Advisors LLC increased its position in PG&E by 2.7% during the 2nd quarter. Calamos Advisors LLC now owns 64,545 shares of the utilities provider’s stock worth $4,284,000 after purchasing an additional 1,673 shares in the last quarter. Finally, Xact Kapitalforvaltning AB increased its position in PG&E by 5.4% during the 3rd quarter. Xact Kapitalforvaltning AB now owns 41,992 shares of the utilities provider’s stock worth $2,859,000 after purchasing an additional 2,148 shares in the last quarter. 81.07% of the stock is owned by institutional investors and hedge funds.

PCG has been the subject of a number of recent analyst reports. Zacks Investment Research raised PG&E from a “hold” rating to a “buy” rating and set a $63.00 target price for the company in a report on Monday, November 6th. Morgan Stanley reissued a “buy” rating on shares of PG&E in a report on Monday, October 16th. Wells Fargo & Co downgraded PG&E from an “outperform” rating to a “market perform” rating in a report on Monday, December 18th. Deutsche Bank reissued a “buy” rating and issued a $61.00 target price on shares of PG&E in a report on Thursday. Finally, J P Morgan Chase & Co raised their target price on PG&E from $74.00 to $76.00 and gave the company an “overweight” rating in a report on Thursday, October 12th. Eight equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. PG&E presently has a consensus rating of “Buy” and a consensus price target of $65.38.

PG&E (NYSE PCG) opened at $44.57 on Friday. The stock has a market capitalization of $22,960.00, a price-to-earnings ratio of 10.25, a PEG ratio of 2.82 and a beta of 0.14. The company has a debt-to-equity ratio of 0.86, a quick ratio of 0.79 and a current ratio of 0.85. PG&E has a one year low of $41.61 and a one year high of $71.57.

PG&E (NYSE:PCG) last released its quarterly earnings results on Thursday, November 2nd. The utilities provider reported $1.12 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.94 by $0.18. The business had revenue of $4.52 billion during the quarter, compared to the consensus estimate of $4.82 billion. PG&E had a return on equity of 11.94% and a net margin of 12.59%. The business’s revenue was down 6.1% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.94 EPS. research analysts forecast that PG&E will post 3.69 earnings per share for the current fiscal year.

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PG&E Company Profile

PG&E Corporation is a holding company. The Company’s primary operating subsidiary is Pacific Gas and Electric Company (the Utility), which operates in northern and central California. The Utility is engaged in the sale and delivery of electricity and natural gas to customers. The Utility generates electricity and provides electricity transmission and distribution services throughout its service territory in northern and central California to residential, commercial, industrial, and agricultural customers.

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