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PCG

PG&E

$21.45

0.435 (2.07%)

18:52
04/22/19
04/22
18:52
04/22/19
18:52

PG&E submits updated financing proposal for safety, reliability investments

Pacific Gas and Electric Company filed its Cost of Capital proposal with the California Public Utilities Commission designed to make sure PG&E is meeting the energy needs of its customers by attracting the critical funding necessary to invest in and increase the safety and reliability of its energy system, while also addressing the heightened risks of California's year-round wildfire season. Over the next four years, PG&E expects to fund up to $28B in energy infrastructure investments. Among the critical investments the Cost of Capital would support: $21B towards electric and gas safety and reliability and increased system hardening; $4B towards new gas pipelines and electric powerlines; $1B toward power generation, and; $2B toward information technology, equipment, and other facilities. The company is working with regulators, policymakers and other stakeholders to develop shared solutions to address the current financial impacts of extreme weather and wildfires facing all Californians. PG&E understands that any increase to customers' rates can be significant and that this approach is neither the best nor preferred solution to the current crisis. The Governor recently issued a report including key principles intended to preserve the financial health of California's energy companies and safeguard the state's energy future, while the Commission on Wildfire Cost and Recovery is expected to release specific recommendations by July 1 on how to more equitably assign the financial risks associated with wildfire. "PG&E is committed to working collaboratively with all parties to reach a sustainable, and equitable, policy solution to the current situation," the company said. "If such a solution is reached, PG&E is committed to amending its application with an updated Cost of Capital, decreasing the impact on customer bills." The Cost of Capital is how much a company is allowed to charge in rates as a return on invested capital and is subject to an open and transparent public review and approval by the CPUC, the company said. PG&E added it strongly supports and encourages its customers to provide feedback and participate in this important process which will help shape customer rates and California's energy future. If approved by the CPUC, PG&E's proposal would update the current return on equity from 10.25% to 16%. PG&E is proposing a $1.2B increase in its currently approved Cost of Capital, based on a 16% return on equity. Approval of the request would result in a monthly bill increase for the average residential electric non-CARE customer of $7.85, or an increase of 7%. For the average residential gas customer, the monthly bill impact would be $4.25, or a 7.7% increase. If approved, the change in customer bills would be effective Jan. 1, 2020.

PCG PG&E
$21.45

0.435 (2.07%)

04/15/19
SBSH
04/15/19
NO CHANGE
SBSH
Citi reiterates Buy ratings on PG&E, Edison after strike team report
Governor Newsom's press conference and the strike team report unveiled on Friday gives confidence that California will "get something constructive accomplished by July," Citi analyst Praful Mehta tells investors in a research note. The Governor highlighted that a solution requires participation from everybody including investors, insurers, attorneys and tax payers, adds the analyst. He finds this statement "extremely important" and reiterates Buy ratings on both PG&E (PFE) and Edison International (EIX).
02/26/19
ARGS
02/26/19
UPGRADE
ARGS
Hold
PG&E upgraded to Hold from Sell at Argus
02/19/19
02/19/19
UPGRADE

Fly Intel: Top five analyst upgrades
Catch up on today's top five analyst upgrades with this list compiled by The Fly: 1. McDonald's (MCD) upgraded to Overweight from Equal Weight at Stephens with analyst Will Slabaugh saying McDonald's core U.S. business is accelerating and positioned to show upside to consensus estimates for Q1 and fiscal 2019. 2. PG&E (PCG) upgraded to Buy from Neutral at Citi with analyst Praful Mehta saying recent comments by California Governor Gavin Newsom indicate an "increasingly likelihood of legislative action." 3. PepsiCo (PEP) upgraded to Outperform from Neutral at Macquarie with analyst Caroline Levy saying new CEO Ramon Laguarta "moved decisively" to reset for sustained 4%-6% sales growth by stepping up marketing and capital spending. 4. Freeport McMoRan (FCX) upgraded to Buy from Neutral at Citi while Southern Copper (SCCO) was double upgraded to Buy from Sell. 5. Cosan (CZZ) upgraded to Overweight from Neutral at JPMorgan with analyst Lucas Ferreira saying the shares trade at an "excessive" 40% discount to net asset value, in the upper part of the 30%-40% range where the stock should be trading. This list is just a portion of The Fly's full analyst coverage. To see The Fly's full Street Research coverage, click here.
02/19/19
SBSH
02/19/19
UPGRADE
Target $31
SBSH
Buy
PG&E upgraded to Buy from Neutral at Citi
Citi analyst Praful Mehta upgraded PG&E to Buy with a $31 price target. Recent comments by California Governor Gavin Newsom indicate an "increasingly likelihood of legislative action," Mehta tells investors in a research note. The analyst believes legislation could limit PG&E's future wildfire risk and unlock "significant upside" in the shares. While Mehta expects legislative action, he "conservatively" assumes "some liabilities" from 2019 fires. PG&E in premarket trading is up 8%, or $1.20, to $16.68.

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T

AT&T

$31.79

0.17 (0.54%)

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Comcast

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Sony

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DIS

Disney

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Viacom

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Viacom

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Ford

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Fiat Chrysler

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Ford

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Fiat Chrysler

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GM

General Motors

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RMD

ResMed

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GOOGL

Alphabet Class A

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Alphabet

$1,161.89

-16.89 (-1.43%)

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Google suspends some business with Huawei, Reuters reports »

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GOOGL

Alphabet Class A

$1,168.28

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GOOG

Alphabet

$1,161.89

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BA

Boeing

$354.99

0.5 (0.14%)

13:28
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Boeing says simulator software of 737 Max jets corrected, Reuters says »

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XOM

Exxon Mobil

$75.91

-0.44 (-0.58%)

13:17
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Exxon evacuates all foreign staff from Iraqi oilfield, Reuters says »

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TSN

Tyson Foods

$82.50

-0.48 (-0.58%)

, MCD

McDonald's

$199.20

-0.71 (-0.36%)

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Meat prices set to climb amid swine fever, WSJ reports »

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TSN

Tyson Foods

$82.50

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MCD

McDonald's

$199.20

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SPX

S&P 500

$0.00

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SPDR S&P 500 ETF Trust

$285.98

-1.87 (-0.65%)

13:02
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Deutsche Bank staff saw suspicious activity in Trump account, NYTimes says »

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S&P 500

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SPY

SPDR S&P 500 ETF Trust

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DB

Deutsche Bank

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MDCO

The Medicines Co.

$33.01

-0.19 (-0.57%)

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ACAD

Acadia

$24.97

-0.69 (-2.69%)

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Acadia presents Phase 2 CLARITY results for Pimavanserin »

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PINS

Pinterest

$26.69

0.68 (2.61%)

08:37
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KSHB

KushCo Holdings

$0.00

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08:32
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Pot paraphernalia companies taking hit from tariffs, Barron's says »

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JWN

Nordstrom

$37.09

0.16 (0.43%)

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NTDOY

Nintendo

$0.00

(0.00%)

, TTWO

Take-Two

$106.76

-0.81 (-0.75%)

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Take-Two 'winning the game,' Barron's says »

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NTDOY

Nintendo

$0.00

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TTWO

Take-Two

$106.76

-0.81 (-0.75%)

DIS

Disney

$135.04

-0.46 (-0.34%)

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TPR

Tapestry

$30.78

-0.56 (-1.79%)

, REGN

Regeneron

$304.81

-4.69 (-1.52%)

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TPR

Tapestry

$30.78

-0.56 (-1.79%)

REGN

Regeneron

$304.81

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SCHW

Charles Schwab

$43.21

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BWA

BorgWarner

$36.27

-0.375 (-1.02%)

AMAT

Applied Materials

$42.72

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MT

ArcelorMittal

$16.37

-0.485 (-2.88%)

, CLF

Cleveland-Cliffs

$10.02

-0.08 (-0.79%)

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On The Fly
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MT

ArcelorMittal

$16.37

-0.485 (-2.88%)

CLF

Cleveland-Cliffs

$10.02

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SCHN

Schnitzer Steel

$23.16

0.42 (1.85%)

BRSS

Global Brass and Copper

$43.09

-0.01 (-0.02%)

LXFR

Luxfer

$25.41

-0.44 (-1.70%)

MTRN

Materion

$66.36

0.155 (0.23%)

DDAIF

Daimler AG

$0.00

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FCAU

Fiat Chrysler

$14.84

-0.01 (-0.07%)

F

Ford

$10.29

-0.1 (-0.96%)

GM

General Motors

$37.00

-0.36 (-0.96%)

HMC

Honda

$25.64

-0.135 (-0.52%)

NSANY

Nissan

$0.00

(0.00%)

TM

Toyota

$118.40

-1.44 (-1.20%)

VWAGY

Volkswagen

$0.00

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SHOO

Steven Madden

$31.49

-0.37 (-1.16%)

GIII

G-III Apparel

$31.82

-0.35 (-1.09%)

IIVI

II-VI

$32.66

-1.64 (-4.78%)

LITE

Lumentum

$46.30

-4.15 (-8.23%)

MU

Micron

$36.06

-1.37 (-3.66%)

WDC

Western Digital

$44.62

-0.82 (-1.80%)

COHR

Coherent

$121.28

-5.22 (-4.13%)

LASR

nLight

$21.21

-1.27 (-5.65%)

VECO

Veeco

$12.50

-0.25 (-1.96%)

NPTN

NeoPhotonics

$3.83

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AAPL

Apple

$188.97

-0.93 (-0.49%)

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WMT

Walmart

$100.88

-0.56 (-0.55%)

17:59
05/17/19
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Hot Stocks
Walmart EVP Furner sells 10K shares of common stock »

In a regulatory filing,…

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XOM

Exxon Mobil

$75.91

-0.44 (-0.58%)

, REPYY

Repsol

$0.00

(0.00%)

17:56
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Periodicals
Exxon Gulf of Mexico sale gets interest from Repsol, Ineos, Bloomberg says »

Exxon Mobil (XOM) has…

XOM

Exxon Mobil

$75.91

-0.44 (-0.58%)

REPYY

Repsol

$0.00

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IEF

iShares 7-10 Year Treasury Bond ETF

$106.74

0.04 (0.04%)

, SHY

iShares 1-3 Year Treasury Bond

$84.15

0.02 (0.02%)

17:43
05/17/19
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17:43
General news
Weekly CFTC Commitment of Traders highlights »

2-YEAR U.S. TREASURY net…

IEF

iShares 7-10 Year Treasury Bond ETF

$106.74

0.04 (0.04%)

SHY

iShares 1-3 Year Treasury Bond

$84.15

0.02 (0.02%)

SPY

SPDR S&P 500 ETF Trust

$285.98

-1.87 (-0.65%)

SLV

iShares Silver Trust

$13.52

-0.14 (-1.02%)

GLD

SPDR Gold Shares

$120.64

-0.86 (-0.71%)

FXE

Euro Currency Trust

$106.35

-0.13 (-0.12%)

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SPX

S&P 500

$0.00

(0.00%)

, SPY

SPDR S&P 500 ETF Trust

$285.98

-1.87 (-0.65%)

17:39
05/17/19
05/17
17:39
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17:39
Periodicals
IMF's Lagarde: U.S.-China trade spat may be risk to global economy, Reuters says »

IMF managing director…

SPX

S&P 500

$0.00

(0.00%)

SPY

SPDR S&P 500 ETF Trust

$285.98

-1.87 (-0.65%)

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HIG

Hartford Financial

$53.58

-0.02 (-0.04%)

17:34
05/17/19
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17:34
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17:34
Syndicate
Breaking Syndicate news story on Hartford Financial »

Hartford Financial files…

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AFH

Atlas Financial

$0.91

0.0225 (2.53%)

17:33
05/17/19
05/17
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17:33
Hot Stocks
Atlas Financial receives filing delinquency notice from Nasdaq »

Atlas Financial received…

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WES

Western Gas Partners

$30.60

-0.155 (-0.50%)

17:29
05/17/19
05/17
17:29
05/17/19
17:29
Syndicate
Breaking Syndicate news story on Western Gas Partners »

Western Gas Partners…

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BA

Boeing

$354.99

0.5 (0.14%)

17:24
05/17/19
05/17
17:24
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17:24
Hot Stocks
Boeing awarded $163.91M Navy contract modification »

Boeing has been awarded a…

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LMT

Lockheed Martin

$338.10

-2.39 (-0.70%)

17:18
05/17/19
05/17
17:18
05/17/19
17:18
Hot Stocks
Lockheed Martin subsidiary awarded $1.13B Navy contract modification »

Sikorsky, a Lockheed…

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