|Bid||41.50 x 2900|
|Ask||42.88 x 900|
|Day's Range||41.81 - 42.87|
|52 Week Range||37.30 - 71.57|
|PE Ratio (TTM)||14.54|
|Earnings Date||Jul 25, 2018 - Jul 30, 2018|
|Forward Dividend & Yield||N/A (N/A)|
|1y Target Est||49.21|
Moody's Investors Service affirmed Panoche Energy Center, LLC's (Panoche) Baa3 rating on its senior secured bonds due 2029. Panoche's Baa3 senior secured bond rating reflects stable cash flows generated pursuant to a 20-year PPA with Pacific Gas & Electric Company (PG&E: A3 negative) and the importance of the project in both meeting the utility's peak energy needs and supporting the system's increasing intermittency challenges from an increasing renewable base in California. Based on the 2018 budget, Panoche's DSCR is expected to remain near 1.3x given the higher level of emission allowances to be surrendered during the year.
PG&E Corp. suffered another legal setback with a judge saying he won’t release the company from a key legal claim over the most destructive wildfires in California history. PG&E has been challenging a California law allowing private property owners to hold the utility 100 percent responsible for any losses caused by its equipment or power lines even if it didn’t act negligently. Edison International, owner of the dominant utility in southern California, is also facing the prospect of multibillion-dollar payouts under the same law over a record-setting blaze near Los Angeles.
As part of its Respond, Rebuild, Resilience commitment to meeting the challenges of extreme weather resulting from climate change, Pacific Gas and Electric Company (PG&E) today announced it will double new construction energy efficiency incentives for residential and business customers who lost their homes or businesses in the October 2017 Northern California wildfires. The enhanced incentives under the California Advanced Homes Program and Savings By Design program will be available for customers across Butte, Lake, Mendocino, Napa, Nevada, Plumas, Santa Cruz, Solano, Sonoma, and Yuba counties.
Now let’s look at PG&E (PCG). The stock showed a decent recovery later in the first quarter after a significant correction to its California wildfire woes. How did institutional investors play out with PCG during the quarter?
Moody's Investors Service has assigned a first-time Baa2 Issuer Rating to Marin Clean Energy (CA) (MCE). MCE is a not-for-profit community choice aggregator (CCA) with an established operating record as a California Joint Powers Authority (JPA). The Baa2 Issuer Rating reflects the strength of the California Joint Power Agency (JPA) statute and the MCE JPA agreement which together underpin MCE's creation and business model, and help fortify the ongoing stability of its existing customer base.
According to Wall Street analysts’ consensus, PG&E Corporation (PCG) has a mean price target of $49.0 compared to its current market price of $43.2. This difference indicates a potential gain of 13.5% for the stock over the next year.
US utility stocks continued to drag last week on concerns of higher Treasury yields. Utilities at large fell more than 2%, while broader markets soared 2.6% in the week.
PG&E Corp. said it has signed its first so-called community solar project, which allows customers who can’t install panels on their roofs the option of buying solar energy from a nearby facility.
Pacific Gas and Electric Company (PG&E) today announced it has signed on the first community solar project for its Regional Renewable Choice program with the renewable energy developer ForeFront Power. The program allows all customers, including renters and those who can’t install solar, the option of purchasing up to 100 percent solar energy without having to install private rooftop solar panels. Approximately half of U.S. households and businesses are unable to install rooftop solar due to space, lack of sun exposure or ownership limitations.1 The Regional Renewable Choice program gives residential and business customers – including those who rent – an easy way to participate in solar without installing or maintaining solar panels.
The California Energy Commission in a unanimous vote Wednesday approved a mandate requiring that all new housing in the state built after 2020 come with installed solar power.
California regulators Wednesday approved a historic plan to mandate rooftop solar panels on most new single-family homes built in the state. The California Energy Commission's action is expected to add on average about $9,500 to the cost of building new houses. The solar mandate, which goes into effect in 2020, received the support of homebuilder and solar trade associations as well as several large utilities.
In preparation for the 2018 wildfire season, Pacific Gas and Electric Company (PG&E) has opened its new Wildfire Safety Operations Center. The center, which will be staffed 24/7, will monitor potential fire threats across PG&E’s service area in real time and coordinate with first responders and public safety officials to respond to any emerging threats and help keep communities safe. The Wildfire Safety Operations Center is part of PG&E’s Community Wildfire Safety Program, launched in March as an additional precautionary measure intended to reduce wildfire threats and strengthen communities for the future.
AES generates total revenues of $2,740 million in the first quarter, which misses the Zacks Consensus Estimate of $3,446 million by 0.5%.
US utility stocks might continue to be dull going forward. Rising inflation suggests the economy is strengthening, which hints that the pace of rate hikes may eventually increase. The ten-year Treasury yields continued to trade at elevated levels and closed at 3.0% last week. Utilities at large fell 0.4%, while broader markets sank by 0.2% last week.
Continuing to invest in its communities’ youth and their future, Pacific Gas and Electric Company (PG&E) today announced it is increasing its financial support for Oakland Promise and Stockton Scholars. The programs provide students with educational opportunities to help them pursue their dreams and build a better California. PG&E’s support is through its Better Together: Investing in California’s Youth initiative, which is focused on providing students opportunities through scholarships, mentorships, internships and career development.
CenterPoint Energy's (CNP) first quarter top-line upside was driven by higher contribution from Natural Gas Distribution, Energy Services as well as Electric Transmission & Distribution segments.
Consolidated Edison's (ED) cash and temporary cash investments as of Mar 31, 2018 was $651 million compared with $797 million as of Dec 31, 2017.
California’s chief utility regulator is warning that the state could find itself in the throes of another energy crisis if it doesn’t address the droves of customers defecting from utilities. The state is going to find it increasingly difficult to ensure it has enough electricity to keep the lights on as more Californians leave utilities to buy their power directly from resources like rooftop solar panels and so-called community choice aggregators that contract directly with generators, California Public Utilities Commission President Michael Picker said. As much as a quarter of the state’s energy demand may be sourced outside of utilities by the end of this year, he said.
PG&E Corporation’s news release disclosing its first-quarter 2018 financial results has been furnished this morning to the U.S. Securities and Exchange Commission and is now available on PG&E Corporation’s website at http://www.pgecorp.com.
On a per-share basis, the San Francisco-based company said it had profit of 86 cents. Earnings, adjusted for non-recurring costs, were 91 cents per share. The results missed Wall Street expectations. The ...