Stock Traders Purchase Large Volume of PG&E Put Options (NYSE:PCG)

PG&E Co. (NYSE:PCG) was the target of some unusual options trading on Wednesday. Stock traders purchased 37,894 put options on the stock. This is an increase of approximately 87% compared to the typical volume of 20,282 put options.

PG&E Stock Up 0.2 %

PCG stock traded up $0.04 during trading hours on Wednesday, hitting $15.82. The company’s stock had a trading volume of 8,190,217 shares, compared to its average volume of 28,480,477. PG&E has a 12 month low of $14.99 and a 12 month high of $21.72. The stock has a 50 day moving average price of $18.31 and a two-hundred day moving average price of $19.28. The company has a market capitalization of $41.36 billion, a PE ratio of 12.36, a price-to-earnings-growth ratio of 1.09 and a beta of 0.99. The company has a quick ratio of 0.99, a current ratio of 1.04 and a debt-to-equity ratio of 2.02.

Insider Buying and Selling at PG&E

In other news, CEO Patricia K. Poppe sold 55,555 shares of the business’s 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 sale, the chief executive officer now owns 1,460,222 shares in the company, valued at approximately $30,168,186.52. The trade was a 3.67 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 0.15% of the stock is currently owned by corporate insiders.

Institutional Trading of PG&E

A number of hedge funds have recently bought and sold shares of the stock. Versant Capital Management Inc boosted its position 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. raised its position in shares of PG&E by 61.5% during the 4th quarter. UMB Bank n.a. now owns 3,956 shares of the utilities provider’s stock valued at $80,000 after acquiring an additional 1,506 shares during the last quarter. Blue Trust Inc. lifted its stake in PG&E by 77.7% in the third quarter. Blue Trust Inc. now owns 4,195 shares of the utilities provider’s stock valued at $83,000 after buying an additional 1,834 shares during the period. Catalyst Capital Advisors LLC raised its position in shares of PG&E by 98.5% in the 3rd quarter. Catalyst Capital Advisors LLC now owns 4,340 shares of the utilities provider’s stock valued at $86,000 after acquiring an additional 2,154 shares during the period. Finally, Huntington National Bank boosted its position 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 purchasing an additional 1,195 shares in the last quarter. 78.56% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

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

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.