|Bid||0.00 x 1400|
|Ask||0.00 x 1400|
|Day's Range||66.95 - 68.43|
|52 Week Range||57.63 - 83.38|
|PE Ratio (TTM)||52.89|
|Earnings Date||Oct 29, 2018|
|Forward Dividend & Yield||2.42 (3.54%)|
|1y Target Est||71.00|
In this part, we’ll discuss California utilities’ total returns. Sempra Energy (SRE) returned 3%, while utilities at large (XLU) returned 2% in the past year. In comparison, PG&E (PCG) and Edison International (EIX) returned -33% and -12%, respectively, during the same period. Total returns consider the dividend payments and stock appreciation in a particular period.
NOTE: On September 12, 2018, the press release was corrected as follows: In the list of downgrades, added SCE Trust III: Pref. Stock Preferred Stock, Downgraded to Baa2 from Baa1 and SCE Trust V: Preference Stock Preference Stock, Downgraded to Baa2 from Baa1".
A California bill allowing investor-owned utilities to pass on wildfires-related costs to ratepayers could be signed this week by Gov. Jerry Brown.
As part of its ongoing efforts to protect customers and communities from the growing risk of wildfires, Southern California Edison proposed additional wildfire safety measures in a filing today with the California Public Utilities Commission (CPUC). The proposed $582 million Grid Safety and Resiliency Program (GS&RP) aligns with the wildfire mitigation plans required by Senate Bill 901, one of the wildfire bills passed by the legislature last month and currently awaiting the Governor’s signature. “The devastation caused by the 2017 and 2018 wildfires leaves no doubt that wildfire risk has increased to the point where California needs to reassess the way we collectively prepare for and prevent wildfires,” said Phil Herrington, SCE senior vice president of Transmission & Distribution.
NOTE: On September 7, 2018, the press release was corrected as follows: The fourth line of the debt list under Southern California Edison Company was changed to Preferred Shelf, Downgraded to (P)Baa2 from (P)Baa1. New York, September 06, 2018 -- Moody's Investors Service ("Moody's") today downgraded Southern California Edison Company's (SCE) senior unsecured rating to A3 from A2 and its commercial paper rating to Prime-2 from Prime-1.
PG&E Corp. and Edison International rose after California lawmakers passed legislation designed to help the utilities pay for billions of dollars in potential liabilities from wildfires that ravaged the state last year. The state Assembly and Senate approved a wide-ranging plan late last week that includes directing regulators to allow the utilities to sell bonds backed by customer bills to cover fire costs that are deemed reasonable. In addition, the measure directs regulators to limit how much utility shareholders would cover from the 2017 fires that killed dozens of people.
Two of the biggest utilities in California will gain relief from damages incurred when their power lines ignite blazes.
Southern California Edison commented today on Senate Bill 901 (Dodd, D-Napa), as approved Tuesday by the Wildfire Preparedness and Response Legislative Conference Committee. Pedro Pizarro, president and CEO of Edison International, the parent company of SCE, said: “Wildfire policy is a complex topic and we appreciate the committee’s attention to this critical issue. While the bill includes some constructive elements, further work is required to adequately reform policies on how the state addresses wildfire prevention, response and liability that are essential to protecting Californians in the future.
Beginning immediately, Southern California Edison customers will see rate reductions reflected in their bills following the July 26 approval by the California Public Utilities Commission of a modified settlement resolving costs and what customers are owed associated with the closure of the San Onofre nuclear plant. “We have been on a path with an eye toward customer bill reductions for many months now,” said SCE President Ron Nichols.
Focus on strengthening transmission and distribution line will enable Edison International (EIX) to serve its customers efficiently, consequently, bolstering performance.
Electric utilities are pouring billions of dollars into a race to prevent terrorists or enemy governments from shutting down the power grid and everything that depends on electricity in America's hyper-connected society. The U.S. Department of Homeland Security detailed last month how Russian hackers have targeted the nation's energy grid. The concern over cyber-threats comes as power companies shift focus to pursue extensive upgrades in software, switches and wires to enable a much more flexible distribution of electricity.
The Board of Directors of Edison International (EIX) today declared a quarterly common stock dividend of $0.605 per share, payable on October 31, 2018, to shareholders of record on September 28, 2018. A quarterly dividend on the Series G preference stock, which would result in a distribution of $0.31875 per security on SCE Trust II’s 5.10% Trust Preference Securities, payable on September 15, 2018, to the shareholder of record on September 14, 2018. A quarterly dividend on the Series H preference stock, which would result in a distribution of $0.359375 per security on SCE Trust III’s 5.75% Trust Preference Securities, payable on September 15, 2018, to the shareholder of record on September 14, 2018.
The San Onofre Community Engagement Panel will discuss transportation of used nuclear fuel and preparations to decommission the San Onofre nuclear plant Thursday during its quarterly meeting in Oceanside.
The settlement of issues and costs related to the closure of the San Onofre nuclear plant was finalized today when parties notified the California Public Utilities Commission that they accept the commission’s request that they remove a provision that would have funded university-conducted greenhouse gas research. The action concludes the commission’s San Onofre proceeding and sets the stage for Southern California Edison, majority owner of San Onofre, to give customers rate reductions. The timing of the rate reductions depends on the commission’s review of SCE’s upcoming filing regarding the rate calculations.
Pacific Gas and Electric Company (or PG&E) (PCG), California’s once-largest utility by market capitalization, has an upside potential of ~7% going forward. It has a mean price target of $48.07 against its current market price of $44.70.
On a per-share basis, the Rosemead, California-based company said it had profit of 84 cents. The results beat Wall Street expectations. The average estimate of six analysts surveyed by Zacks Investment ...
Edison International today reported second quarter 2018 net income of $276 million, or $0.85 per share, compared to net income of $278 million, or $0.85 per share, in the second quarter 2017.
Lined up for assessment this morning are these four stocks: Duke Energy Corp. (NYSE: DUK), Centrais Eletricas Brasileiras S.A. - Eletrobras (NYSE: EBR), Edison International (NYSE: EIX), and Enel Americas S.A. (NYSE: ENIA). All you have to do is sign up today for this free limited time offer by clicking the link below. On Wednesday, shares in Charlotte, North Carolina headquartered Duke Energy Corp. rose slightly by 0.36%, ending the day at $80.18.
American Electric Power (AEP) surpasses second-quarter earnings and revenues estimates, courtesy of its investment to strengthen operations and favorable weather, which is thereby driving demand.
California utility giants PG&E Corp. and Edison International are one step closer to changing a state law that has exposed them to billions of dollars in wildfire liabilities. Late Tuesday, California Governor Jerry Brown proposed a bill that would require a court to consider whether a utility acted “reasonably” when deciding whether it should end up on the hook for fire damages. Brown said the proposal wouldn’t affect the potential liabilities PG&E and Edison face for blazes that devastated the state in 2017.
Edison International (EIX) surpassed the Zacks Consensus Estimate in two of the trailing four quarters, with an average surprise of 3.67%.