89.71 -0.02 (-0.02%)
After hours: 4:02PM EDT
|Bid||86.00 x 1100|
|Ask||89.37 x 800|
|Day's Range||87.18 - 90.26|
|52 Week Range||45.43 - 90.26|
|Beta (3Y Monthly)||1.10|
|PE Ratio (TTM)||22.21|
|Earnings Date||Oct 31, 2019|
|Forward Dividend & Yield||N/A (N/A)|
|1y Target Est||85.50|
(Bloomberg) -- Parts of California will go dark Wednesday afternoon in a mass blackout that could eventually leave more than a million people without power. And more shutoffs could come over the weekend.PG&E Corp. will begin cutting power to 179,000 customers in 17 northern and central California counties on Wednesday afternoon in an attempt to keep its power lines from sparking wildfires amid hot, dry winds. In Southern California, Edison International is warning that it may cut service to another 308,000, and Sempra Energy is considering a shutoff in the San Diego area. In all, about 1.5 million people may be affected.The threat of widespread shutoffs is hitting just two weeks after PG&E carried out the biggest planned blackout in California history, plunging about 2 million people into darkness, knocking out traffic lights and forcing businesses to shut. The outages have ignited a debate over how far California and its utilities are willing to go to avoid catastrophic fires.PG&E’s cutoffs are scheduled to start around 2 p.m. in the Sierra Foothills, and they are expected to spread into other areas through early Thursday. The worst of the winds are forecast to slow by noon Thursday. Meanwhile, high winds could return over the weekend, and into next week, according to the National Weather Service. PG&E has warned that there’s an “elevated risk” of shutoffs in eight of of its nine geographical zones starting Sunday. It said that storm may prove even bigger and stronger. “A small shift in the track will make a big difference,” said Spencer Tangen, a weather service meteorologist in Monterey, California. “There is a pretty high threat Saturday night into Sunday and possibly Sunday night into Monday and it is looking like they could be stronger than what we are seeing with this current one.”The threat of wildfires was listed as critical across the state Wednesday with dry winds set to “ramp up considerably” with Thursday forecast to be the worse day for storms across Southern California, the weather service said.Edison didn’t say when it may decide on a shutoff Wednesday.The blackout had one entirely predictable effect: Generac Holdings Inc., which provides back-up generators and saw a spike in demand during the last California blackout, rising as much as 3.7% to a record $90.26.Other businesses were affected more negatively: Pipeline giant Kinder Morgan Inc. said it’s halting flows on a major fuel line between California and Nevada because of the cuts. The segment will restart when power returns, the Houston-based company said.The state’s largest power company has been taking more extreme measures to prevent fires since its equipment was identified as the cause of blazes that devastated California in 2017 and 2018. That saddled the utility with an estimated $30 billion in liabilities, forcing it into bankruptcy.The Camp Fire in November 2018, which killed 86 people and destroyed an entire town, was among the tragedies sparked by power lines.Once the storm is over, the utility will have to inspect and repair lines before restoring service. It has a goal of returning power to the vast majority of customers within 48 hours of the weather passing -- potentially just in time for another wind storm to hit.Early next week, winds are expected to restrengthen after a relatively mundane weekend as a new front rushes in, according to Bob Oravec, a senior branch forecaster at the U.S. Weather Prediction Center in College Park, Maryland. “The threat is going to be there,” Oravec said.Meanwhile, PG&E Chief Executive Officer Bill Johnson said late Tuesday that he didn’t want to get too far ahead “when we’ve got tomorrow to think about.”The blackout threat has spurred a debate between California Governor Gavin Newsom and the utility over who should make the call on shutoffs. In a letter to Newsom last week, PG&E Chief Executive Officer Bill Johnson said California should discuss the idea of a state agency deciding when to carry out widespread outages.Late Tuesday, Newsom shot down the idea, saying transferring control of the decision-making would be a “bailout” for PG&E.The PG&E blackout that struck earlier this month drew outrage from residents and state officials who accused the utility of cutting service to more customers than necessary and failing to properly communicate its plans.(Adds Edison estimate in second paragraph and Generac shares in eighth paragraph)\--With assistance from Robert Tuttle.To contact the reporters on this story: Mark Chediak in San Francisco at email@example.com;David R. Baker in San Francisco at firstname.lastname@example.org;Brian K. Sullivan in Boston at email@example.comTo contact the editors responsible for this story: Tina Davis at firstname.lastname@example.org, Reg Gale, Lynn DoanFor more articles like this, please visit us at bloomberg.com©2019 Bloomberg L.P.
After several tireless days we have finished crunching the numbers from nearly 750 13F filings issued by the elite hedge funds and other investment firms that we track at Insider Monkey, which disclosed those firms' equity portfolios as of June 28. The results of that effort will be put on display in this article, as […]
WAUKESHA, Wis., Oct. 17, 2019 -- Generac Holdings Inc. ("Generac") (NYSE: GNRC), a leading global designer and manufacturer of energy solutions and other power products, today.
Aaron Jagdfeld became the CEO of Generac Holdings Inc. (NYSE:GNRC) in 2008. First, this article will compare CEO...
The fire-prone weather prompted (PCG) which filed for bankruptcy in January to manage the staggering costs of wildfires caused by its equipment, to pull the plug on 750,000 central and northern California customers. The news of outages sparked a rally in shares of (GNRC) which rallied nearly 10% on Wednesday, while the S&P 500 index was up 1.1%. Generac estimates that it sells more than 75% of U.S. residential backup generators, and 25% to 30% of portable generators.
With the preemptive California power shutoff affecting a reported 800,000 people, Wisconsin generator manufacturers are preparing for increased productivity out west.
WAUKESHA, Wis., Sept. 23, 2019 /PRNewswire/ -- Generac Power Systems (GNRC), the market leader in residential backup power systems, has announced its move into Clean Energy. The company that single-handedly created the billion-dollar home standby generator market will now draw on its best-in-class technology and extensive engineering expertise to offer a complete ecosystem of new energy storage and management products. Following the acquisitions of Neurio Technology, Inc., a maker of innovative home energy management systems, and Pika Energy, Inc., a manufacturer of advanced residential and commercial solar energy storage systems, Generac will design, manufacture, market and sell environmentally-responsible solar energy storage systems and home energy management tools.
Enphase Energy stock had a solid week, gaining more than 20%. Its recovery is notable after its ~25% correction since its all-time high late last month.
Does Generac Holdings (GNRC) have what it takes to be a top stock pick for momentum investors? Let's find out.
Short-seller Citron Research noted that Generac Holdings could challenge solar microinverter makers Enphase Energy and SolarEdge's duopoly.
The most you can lose on any stock (assuming you don't use leverage) is 100% of your money. But when you pick a...
WAUKESHA, Wis., Sept. 5, 2019 /PRNewswire/ -- As National Preparedness Month begins, Hurricane Dorian is threatening the United States, and California residents continue to brace for a long wildfire season of Public Safety Power Shutoffs (PSPS). During this year's National Preparedness Month, Generac (GNRC) reminds homeowners it only takes a minute to begin preparing for the extended power outages. The time between mid-August and mid-October is the most active part of hurricane season, according to historical data logged by the National Hurricane Center.
“Having a [generator] really makes a massive difference in whether you can stay in your home or whether you have to seek shelter somewhere else,” Generac CEO Aaron Jagdfeld said.
U.S. stocks are poised on a razor's edge, as the U.S.-China trade war and the sour relations between President Trump and the Fed escalated to new levels, raising doubts about the continuation of what seemed to be a fledgling rebound in stocks, explains Dr. Joe Duarte, editor of In the Money Options.
R.W. Baird has listed its top industrial-stock ideas for the balance of 2019. The picks are sorted for growth and value investors.
Generac Holdings Inc. ("Generac") (GNRC), a leading global designer and manufacturer of energy solutions and other power products, today announced that it will be providing a webcast of the formal presentation during its upcoming 2019 Investor Day held in New York City. Generac will be holding the Investor Day on Wednesday, September 4, 2019, where Aaron Jagdfeld, President and CEO, and other members of the Company’s management team will provide further details into Generac’s strategies, growth drivers and other key investment highlights. The Company will simultaneously webcast its Investor Day presentation beginning at 8:30 a.m. EDT that day and should conclude at approximately 12:30 p.m. EDT. A link to the live webcast will be available prior to the scheduled presentation time on Generac's website (http://www.generac.com), under the Investor Relations link, along with a link to the presentation slides.
EVP Industrial, Americas of Generac Holdings Inc (30-Year Financial, Insider Trades) Erik Wilde (insider trades) sold 7,587 shares of GNRC on 08/06/2019 at an average price of $71.44 a share. Continue reading...