|Bid||63.30 x 28000|
|Ask||63.31 x 1200|
|Day's Range||63.03 - 63.31|
|52 Week Range||50.81 - 65.11|
|PE Ratio (TTM)||N/A|
|YTD Daily Total Return||22.42%|
|Beta (3Y Monthly)||0.22|
|Expense Ratio (net)||0.13%|
Shares of PG&E Corp. rocketed 21% in active afternoon trading Wednesday, enough to pace all NYSE-listed gainers, after Bloomberg reported the California-based utility was near a deal to pay out $13.5 billion to wildfire victims. Trading volume jumped to over 38.5 million shares, compared with the full-day average of 24.9 million shares. The Bloomberg report, which cited people familiar with the matter, said half of the payout would be in cash, upfront in a lump sum, and the other half would be in stock, to be paid over 18 months. A settlement would help resolve the utility's bankruptcy. Despite the rally, the stock has still lost 57% year to date, while the SPDR Utilities Select Sector ETF has gained 20% and the S&P 500 has advanced 24%.
The first quarter was a breeze as Powell pivoted, and China seemed eager to reach a deal with Trump. Both the S&P 500 and Russell 2000 delivered very strong gains as a result, with the Russell 2000, which is composed of smaller companies, outperforming the large-cap stocks slightly during the first quarter. Unfortunately sentiment shifted […]
Shares of PG&E Corp. sank 3.2% in premarket trading Wednesday, after the San Francisco-based utility company said it will begin shutting off power to about 150,000 customers in 18 counties in an effort to reduce fire risk. The shutoffs will be in portions of the Sierra Foothills, the North Bay and the North Valley, and are scheduled to begin as early as 6:00 a.m. local time on Wednesday. "The decision was based on weather forecasts indicating the potential for high winds and dry conditions leading to increased fire risk," PG&E said in a statement. The company said the expectation is that the weather will clear around mid-morning on Thursday. The stock has tumbled 71.2% year to date through Tuesday, while the SPDR Utilities Select Sector ETF has rallied 18.7% and the S&P 500 has gained 24.5%.
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Shares of PG&E Corp. sank 3.5% in premarket trading Thursday after the utility swung to a large third-quarter loss, citing charges for claims related to wildfires and raised its outlook for full-year charges, but also beat earnings expectations when excluding those charges. The electric and natural gas utility reported a net loss of $1.62 billion, or $3.06 a share, after net income of $564 million, or $1.09 a share, in the year-ago period. Excluding "items impacting comparability" (IIC), such as a $2.5 billion charge for wildfire-related claims, adjusted earnings per share fell to $1.11 from $1.13, above the FactSet consensus of $1.03. Adjusted EPS declined primarily because of vegetation management costs, resolution of 2018 regulatory items and an increase in shares outstanding. Revenue rose to $4.43 billion from $4.38 billion. The utility said it was not providing earnings guidance for 2019, given continuing uncertainty related to the 2017 Northern California wildfires, the 2018 Camp fire, the 2019 Kincade fire and Chapter 11 proceedings. The company raised its 2019 IIC guidance to $6.2 billion to $6.3 billion from guidance provided in August of $5.20 billion to $5.66 billion. The stock has plummeted 61.9% over the past three months through Wednesday, while the SPDR Utilities Select Sector ETF gained 4.5% and the S&P 500 advanced 6.7%.
The fate of the 'phase 1' U.S.-China trade deal remains uncertain. In such a situation, we highlight some ETF strategies to ride out the trade volatility.
Thanks to a combination of low-interest rates and investors’ preference for higher-yielding defensive assets, the Utilities Select Sector SPDR (XLU) , the largest utilities sector ETF, has been a solid sector-level performer this year while currently offering an impressive dividend yield of almost 3%. The utilities sector is one of this year’s best-performing groups, underscoring the notion that many investors will embrace utilities stocks and ETFs during favorable interest rate environments. The Federal Reserve recently obliged by lowering interest rates last week for the second time this year and another rate cut is possible before the end of this year.
The S&P 500's real-estate sector Tuesday notched its worst day in three months, as investors sold shares considered defensive, including utilities and bought banks and energy names. The decline in real estate, down 1.7%, and utilities , down 1%, representing the worst declines among the S&P 500 index's 11 sectors on the session, contributing to the broad-market benchmark's first loss in the past three sessions. Real estate, as represented by the Real Estate Select Sector SPDR Fund , notched its sharpest decline since Aug. 5, according to FactSet data. The moves come as the Dow Jones Industrial Average and the Nasdaq Composite Index logged their second all-time closing highs in as many sessions, with investors viewing the drop in real estate and utilities as perhaps partly a move for investors out of areas that tend to perform well in an economic slowdown and toward those that have been underloved, inculding banks and and energy shares .
Dividend ETFs have staged a rally this year, raising overvaluation concerns. Investors thus can have a look at these low P/E dividend ETFs.
Despite rising the success of traditional dividend-paying sectors, such stocks as a whole are relatively cheap.
Shares of PG&E Corp. plummeted 20% toward a record low in very active trading, again, as investors grow increasingly concerned of negative impact of the Kincade fire raging in wine country in Sonoma County, Calif. Trading volume topped 27.6 million shares, already nearly double the full-day average. On Friday, the stock had plunged 30.6% on volume of 69.5 million shares after Citigroup analyst Praful Mehta warned that Kincade "increases the probability of a zero share price." The stock has now lost 44% in two days and 51.2% in three days, the worst 3-day stretch for investors since mid-January, when the company said it was preparing to file for bankruptcy. The stock has now shed 91.4% over the past 12 months, while the SPDR Utilities Select Sector ETF has hiked up 19.3% and the S&P 500 has gained 10.0%.
Shares of PG&E Corp. plummeted on heavy volume to a record low Friday, after Citigroup warned that the latest California wildfire, which the utility may have helped start, could render them worthless.
While U.S. markets are hovering near record highs, high net-worth investors are wary of what the future may hold and are getting more defensive. ETF investors can also shift their portfolios into a more defensive posture through sector-specific strategies.