PG&E Co. (PCG) Short Interest Up 36.6% in November

PG&E Co. (NYSE:PCG) was the target of a large increase in short interest in November. As of November 30th, there was short interest totalling 9,187,359 shares, an increase of 36.6% from the November 15th total of 6,724,092 shares. Based on an average trading volume of 6,399,496 shares, the short-interest ratio is presently 1.4 days. Approximately 1.8% of the shares of the company are short sold.

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

Several hedge funds and other institutional investors have recently modified their holdings of PCG. Bank of Stockton acquired a new position in shares of PG&E during the 3rd quarter valued at about $224,000. Blair William & Co. IL increased its holdings 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 valued at $286,000 after acquiring an additional 298 shares during the last quarter. Vicus Capital acquired a new stake in PG&E in the 3rd quarter valued at approximately $342,000. Park Avenue Securities LLC acquired a new stake in PG&E in the 3rd quarter valued at approximately $415,000. Finally, Wealthsource Partners LLC acquired a new stake in PG&E in the 2nd quarter valued at approximately $420,000. 81.07% of the stock is currently owned by institutional investors and hedge funds.

Shares of PG&E (NYSE PCG) traded down $0.06 during mid-day trading on Friday, reaching $43.82. The company’s stock had a trading volume of 6,279,188 shares, compared to its average volume of 7,410,000. 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 12 month low of $41.61 and a 12 month high of $71.57. The firm has a market cap of $22,540.00, a price-to-earnings ratio of 10.07, a P/E/G ratio of 2.71 and a beta of 0.14.

PG&E (NYSE:PCG) last issued its earnings results on Thursday, November 2nd. The utilities provider reported $1.12 earnings per share for the quarter, topping the consensus estimate of $0.94 by $0.18. The company had revenue of $4.52 billion for the quarter, compared to analyst estimates 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% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.94 EPS. sell-side analysts forecast that PG&E will post 3.69 earnings per share for the current fiscal year.

A number of research analysts recently commented on PCG shares. Zacks Investment Research upgraded PG&E from a “hold” rating to a “buy” rating and set a $63.00 price objective for the company in a research note on Monday, November 6th. Morgan Stanley reissued a “buy” rating on shares of PG&E in a research note on Monday, October 16th. Wells Fargo & Co cut PG&E from an “outperform” rating to a “market perform” rating in a research note on Monday, December 18th. Deutsche Bank reaffirmed a “buy” rating and set a $61.00 target price on shares of PG&E in a report on Thursday, December 21st. Finally, JPMorgan Chase & Co. upped 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. Two investment analysts have rated the stock with a sell rating, ten have assigned a hold rating and six have given a buy rating to the company. PG&E presently has an average rating of “Hold” and an average price target of $62.62.

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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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