|Bid||46.82 x 900|
|Ask||47.57 x 900|
|Day's Range||46.73 - 46.95|
|52 Week Range||37.30 - 69.67|
|PE Ratio (TTM)||200.17|
|Forward Dividend & Yield||N/A (N/A)|
|1y Target Est||N/A|
Sempra Energy (SRE) has a median target price of $124.40—compared to its current market price of $118.87, which indicates an upside potential of ~5% for the next 12 months. Morgan Stanley increased Sempra Energy’s target price from $120.0 to $121.0 last week.
These billionaire investors are buying up shares of United Technologies, PG&E, and Berkshire Hathaway. Here's why you might want to consider them as well.
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.
Let’s take a look at utility stocks (XLU) with attractive upside potentials for the next 12 months. PG&E (PCG) stock has a median target price of $51.9—compared to its current market price of $47.0, which indicates an upside potential of more than 10% for the next year.
At large, utilities underperformed broader markets last week. The Utilities Select Sector SPDR ETF (XLU), a representative of the S&P 500 Utilities, rose 0.4%. Broader markets continued to increase and rose more than 1% for the week ending September 14. Despite the Fed’s aggressive stance about the rate hike this year, utilities—one of the most vulnerable sectors to rate hikes—showed strong growth in the last few months due to trade war concerns.
It wasn’t a screaming bullish finish to the week, but it didn’t matter. The S&P 500’s 0.03% gain on Friday translated into a 1.1% advance for the five-day span. The close of 2,904.98 was the second-best close ever.
The investigation into the fatal explosions that ripped through several towns outside Boston on Thursday has barely begun. As of Friday lunchtime in New York, NiSource stock was down almost 10 percent, its biggest drop since January 2009, when the market was still trying to find a floor amid the financial crisis. The obvious analogy here is PG&E Corp. and the September 2010 explosion of its gas pipeline in San Bruno, California.
Almost all utility stocks currently offer unattractive upside potentials due to their recent rallies. Among the S&P 500 utilities, PG&E Corporation (PCG) has a relatively handsome upside potential of almost 12% over the next 12 months. Wall Street analysts have given it a median price target of $51.7 compared to its current market price of $46.3.
A California bill allowing investor-owned utilities to pass on wildfires-related costs to ratepayers could be signed this week by Gov. Jerry Brown.
If you want to know who really controls PG&E Corporation (NYSE:PCG), then you’ll have to look at the makeup of its share registry. Insiders often own a large chunk ofRead More...
Moody's Investors Service ("Moody's") affirmed the Baa1 rating assigned to the senior secured debt of Topaz Solar Farms LLC (Topaz Solar) due 2039 and also changed the rating outlook to negative from positive. Today's rating action is driven entirely by the weakened credit profile of Pacific Gas & Electric Company (PG&E: Baa1, negative) that was downgraded to Baa1 with a negative outlook on September 6th, 2018. PG&E's credit quality serves as a cap to Topaz Solar's rating since the project derives all of its revenue and cash flow under a long-term power purchase and sales agreement (PPA) with PG&E that expires in October 2039.
NOTE: On September 7, 2018, the press release was corrected as follows: The second and third lines of the debt list under PG&E Corporation were changed to Preferred Shelf, Downgraded to (P)Ba1 from (P)Baa3 and Preferred Non-Cumulative Shelf, Downgraded to (P)Ba1 from (P)Baa3, respectively. New York, September 06, 2018 -- Moody's Investors Service (Moody's) downgraded the ratings of Pacific Gas & Electric Company (PG&E), and its parent company, PG&E Corporation (PCG or Corp).
The state of California last week passed SB 901, a piece of legislation that includes language that reduced the wildfire liability risk for PG&E Corporation (NYSE: PCG). Bank of America analyst Julien Dumoulin-Smith upgraded PG&E from Neutral to Buy and raised her price target from $48 to $56.
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.
Currently, the Utilities Select Sector SPDR ETF (XLU) is trading at $53.5—nearly 1% and 4% above its 50-day and 200-day moving average levels, respectively. These simple moving averages showed a “golden cross” pattern early this month and continue to look strong. The levels around $52.83 and $51.33 could likely act as a support for XLU in the short term.
Trade worries never seem to go away, and that has stocks trading lower this morning. Talks with Canada remained in a tough spot, while tariffs on $200 billion of Chinese goods could be put in place as soon as Thursday. S&P 500 futures have declined 0.1%, while Dow Jones Industrial Average futures have dropped 73 points, or 0.3%. Nasdaq Composite futures have fallen 0.3%.
At large, utilities trended lower and lost 0.5% last week. At the same time, broader markets continued to increase and rose ~1% during the week. Utilities have seen a decent uptrend in the last few months amid trade war tensions.
A last-minute measure by California lawmakers to rescue the state’s largest utility from a potential bankruptcy sets up a contentious process whereby its customers could foot the bill for billions in liability costs it faces following the state’s catastrophic 2017 wildfires. The bill passed Friday night in the final hours of California’s legislative session would give PG&E Corp. a path to pass on to ratepayers legal damages and other costs stemming from fires that swept California’s wine country in October. Democratic California Gov. Jerry Brown is expected to sign the measure, addressing a broad array of wildfire-related issues, into law.
SACRAMENTO, Calif. (AP) — Lawmakers voted to give a reprieve to Pacific Gas & Electric Co., take steps toward reducing years of secrecy surrounding police misconduct and push back school start times in the frenzied final hours of the two-year legislative session.
SACRAMENTO, Calif. (AP) — The California Legislature voted Friday to allow power companies to raise electric bills to cover the cost of lawsuits from last year's deadly wildfires amid fears that Pacific Gas & Electric Co., would otherwise face financial ruin.
California lawmakers approved legislation late Friday night to rescue the state’s largest utility by letting it bill ratepayers for some of the billions in liability it faces following 2017’s catastrophic wildfires. Corp. a path to securitize the potential billions of dollars in legal damages and other costs stemming from the deadly blazes that swept California’s wine country last October, killing more than 40, and destroying or damaging around 21,000 homes and 2,800 businesses. State investigators have concluded that equipment from PG&E’s Pacific Gas & Electric Co. unit caused 16 of those blazes so far, and the utility has said it expects to incur losses related to at least 14 of them.
California lawmakers passed legislation to help utility giant PG&E Corp. pay for billions of dollars in potential liabilities from wildfires that ravaged Northern California wine country last year. The state Assembly and Senate approved a wide-ranging plan Friday that includes directing regulators to limit how much PG&E shareholders would cover from the 2017 fires that killed dozens of people. The bill now heads to the desk of Governor Jerry Brown, who has supported helping PG&E dodge fiscal distress.
The company -- which provides electricity and gas to 16 million people -- faces billions of dollars in liabilities from last year’s wildfires, and legislators have until midnight Friday to pass a bill that would direct regulators to limit how much PG&E shareholders would pay to cover the costs. The outcome is critical for PG&E, which may owe as much as $17.3 billion from the blazes, JPMorgan Chase & Co. estimated. “This is the state acting like PG&E is too big to fail,” said Mark Toney, executive director of the Utility Reform Network, a consumer advocacy group.