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PCG

PG&E

$17.59

-0.16 (-0.90%)

06:16
01/14/19
01/14
06:16
01/14/19
06:16

PG&E remains 'committed' to providing 'safe' natural gas, electric service

PG&E Corporation said it remains committed to providing safe natural gas and electric service to customers as it prepares to initiate voluntary reorganization proceedings under Chapter 11. The Company today provided the 15-day advance notice required by recently enacted California law that it and its wholly owned subsidiary Pacific Gas and Electric Company currently intend to file petitions to reorganize under Chapter 11 of the U.S. Bankruptcy Code on or about January 29, 2019. The Company does not expect any impact to electric or natural gas service for its customers as a result of the Chapter 11 process. PG&E remains committed to assisting the communities affected by wildfires in Northern California, and its restoration and rebuilding efforts will continue. The Company also expects that its employees will continue to receive their pay and healthcare benefits as usual. John R. Simon, PG&E Corporation Interim CEO, said, "The people affected by the devastating Northern California wildfires are our customers, our neighbors and our friends, and we understand the profound impact the fires have had on our communities and the need for PG&E to continue enhancing our wildfire mitigation efforts. We remain committed to helping them through the recovery and rebuilding process. We believe a court-supervised process under Chapter 11 will best enable PG&E to resolve its potential liabilities in an orderly, fair and expeditious fashion. We expect this process also will enable PG&E to access the capital and resources we need to continue providing our customers with safe service and investing in our systems and infrastructure. Everyone at PG&E knows that our single most important responsibility is safety, and we recognize that we must work even harder every day to demonstrate that the safety of our customers, our communities, our employees and our contractors comes first." Richard C. Kelly, Chair of the Board of Directors of PG&E Corporation, said, "Following a comprehensive review with the assistance of our outside advisors, the PG&E Board and management team have determined that initiating a Chapter 11 reorganization for both the Utility and PG&E Corporation represents the only viable option to address the Company's responsibilities to its stakeholders. Our goal will be to work collaboratively to fairly balance the interests of our many constituents-including wildfire victims, customers, employees, creditors, shareholders, the financial community and business partners-while creating a sustainable foundation for the delivery of safe service to our customers in the years ahead. The Chapter 11 process allows us to work with these many constituents in one court-supervised forum to comprehensively address our potential liabilities and to implement appropriate changes."

PCG PG&E
$17.59

-0.16 (-0.90%)

12/10/18
WELS
12/10/18
NO CHANGE
Target $47
WELS
Outperform
PG&E price target lowered to $47 from $60 at Wells Fargo
Wells Fargo analyst Neil Kalton lowered his price target for PG&E to $47 from $60 to take into account potential wildfire liabilities. The analyst reiterates an Outperform rating on the shares.
01/02/19
MSCO
01/02/19
NO CHANGE
Target $31
MSCO
Equal Weight
Recent developements for PG&E mixed, not entirely negative, says Morgan Stanley
Morgan Stanley analyst Stephen Byrd noted that PG&E shares underperformed large cap U.S. electric utility peers by about 5% in December. He does not view the numerous recent developments involving PG&E as entirely negative, as the stock move would suggest, but rather sees them as "mixed," with some positives, Byrd tells investors. He sees the CPUC Order Instituting Rulemaking regarding the "stress test" as a positive development and also believes the CPUC Scoping Memo released on December 21 is a development with both positive and negative implications for PG&E, Byrd said. There were also several legal developments in December that were a mix of negative and positive, the analyst added. On the negative side, Byrd lists the CPUC SED report into alleged PG&E falsification of records relating to PG&E's Damage Prevention Program. He maintains an Equal Weight rating on PG&E shares with a $31 price target.
01/04/19
GSCO
01/04/19
UPGRADE
Target $63
GSCO
Buy
Edison International upgraded to Buy from Neutral at Goldman Sachs
Goldman Sachs analyst Michael Lapides upgraded Edison International to Buy while lowering his price target for the shares to $63 from $71. The analyst upgrades the shares after their 15% underperformance versus peers since the 2018 wildfires. He also is more positive on longer term potential PG&E (PCG) risk/reward following its 48% underperformance. Both utilities now price in a "very bearish outcome" of the wildfires, says Lapides. He believes that recent commentary from state officials regarding keeping utility balance sheets healthy implies a potential cost sharing of recent wildfire related liabilities.
01/14/19
JPMS
01/14/19
DOWNGRADE
Target $22
JPMS
Neutral
PG&E downgraded to Neutral from Overweight at JPMorgan
JPMorgan analyst Christopher Turnure downgraded PG&E to Neutral and lowered his price target for the shares to $22 from $29. The company's options are dwindling as the California Public Utilities Commission and legislature are showing no signs of urgency, Turnure tells investors in a research note.

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Revance

$18.11

-2.11 (-10.44%)

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MRTX

Mirati Therapeutics

$62.51

-2.33 (-3.59%)

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  • 17

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BREW

Craft Brew

$15.50

0.19 (1.24%)

20:45
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ROX

Castle Brands

$0.91

0.0122 (1.36%)

20:41
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PRT

PermRock Royalty Trust

$9.61

-0.39 (-3.90%)

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GBCI

Glacier Bancorp

$42.87

1.36 (3.28%)

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ERJ

Embraer

$22.81

-0.59 (-2.52%)

20:34
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Downgrade
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AICAF

Air China

$0.00

(0.00%)

20:32
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20:32
Upgrade
Air China rating change at HSBC »

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CEA

China Eastern Airlines

$28.64

-0.09 (-0.31%)

20:26
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20:26
Upgrade
China Eastern Airlines rating change at HSBC »

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MS

Morgan Stanley

$44.48

1.59 (3.71%)

, BBT

BB&T

$47.55

1.2 (2.59%)

20:25
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MS

Morgan Stanley

$44.48

1.59 (3.71%)

BBT

BB&T

$47.55

1.2 (2.59%)

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PPG

$102.58

1.58 (1.56%)

MTB

M&T Bank

$154.45

3.04 (2.01%)

KEY

KeyCorp

$16.75

0.44 (2.70%)

FAST

Fastenal

$54.11

-0.47 (-0.86%)

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  • 17

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  • 18

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FDC

First Data

$21.27

3.72 (21.20%)

20:07
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Downgrade
First Data rating change at Goldman Sachs »

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  • 03

    Mar

VEON

Veon

$2.56

-0.03 (-1.16%)

19:44
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19:44
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Veon rating change at VTB Capital »

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AMZN

Amazon.com

$1,682.84

7.84 (0.47%)

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  • 16

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GS

Goldman Sachs

$197.03

17.12 (9.52%)

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  • 03

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TSLA

Tesla

$346.03

1.78 (0.52%)

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Periodicals
CA makes up large portion of Tesla Model 3 registrations in 2018, Bloomberg says »

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  • 16

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CARS

Cars.com

$23.14

-0.26 (-1.11%)

, MNKD

MannKind

$1.32

-0.06 (-4.35%)

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MNKD

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FOLD

Amicus

$12.18

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FUL

H.B. Fuller

$43.35

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PLXS

Plexus

$54.88

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CSX

CSX

$65.36

0.27 (0.41%)

KMI

Kinder Morgan

$17.46

0.15 (0.87%)

AA

Alcoa

$29.02

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ACB

Aurora Cannabis

$7.33

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MRTX

Mirati Therapeutics

$62.51

-2.33 (-3.59%)

AAPL

Apple

$154.88

1.84 (1.20%)

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  • 16

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  • 17

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BAC

Bank of America

$28.44

1.89 (7.12%)

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BofA's global investment banking head to leave bank, FT reports »

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  • 16

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    Mar

NEWR

New Relic

$90.47

1.38 (1.55%)

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  • 23

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TME

Tencent Music

$12.99

0.57 (4.59%)

18:33
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ASCMA

Ascent Capital

$0.40

-0.0499 (-11.09%)

18:27
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CMS

CMS Energy

$50.56

0.34 (0.68%)

18:19
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  • 10

    Feb

DTE

DTE Energy

$111.73

0.48 (0.43%)

18:15
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