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SRE, PCG, and EIX: Is Leverage Concerning?

Vincent Kruger
SRE, PCG, and EIX: Is Leverage Concerning?

At the end of Q2 2018, PG&E (PCG) had net debt of $18.7 billion, while Sempra Energy (SRE) had net debt of $25.8 billion. Sempra Energy’s debt has significantly increased in the last couple of quarters due in part to its Oncor acquisition. Edison International’s (EIX) debt was $14.5 billion as of June 30. Utilities generally have a large amount of debt on their books because of their heavy capex needs.