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PCG

PG&E

$10.42

-0.05 (-0.48%)

, EIX

Edison International

$73.06

0.8 (1.11%)

11:37
09/03/19
09/03
11:37
09/03/19
11:37

California AG conducting criminal probe of Woolsey Fire, VC Star reports

California's Attorney General is conducting a criminal investigation into the cause and origin of the Woolsey Fire, the Ventura County Star's Megan Diskin reported on August 30, citing court documents. California utility operators include PG&E (PCG) and Edison International (EIX). Reference Link

PCG

PG&E

$10.42

-0.05 (-0.48%)

EIX

Edison International

$73.06

0.8 (1.11%)

  • 02

    Oct

  • 10

    Nov

PCG PG&E
$10.42

-0.05 (-0.48%)

07/01/19
MZHO
07/01/19
NO CHANGE
MZHO
Buy
Mizuho views changes to California bill as 'constructive' for state utilities
Early Friday morning the California Senate released their changes to AB 1054 which addresses the wildfire risk for each of the state's utilities, Mizuho analyst Paul Fremont tells investors in a research note. The analyst views the changes as "constructive" for the California utilities. Utilities will fund $7.5B of the $18B Wildfire Mitigation fund, and will be able to get recovery, but not a return on, $5B worth of wildfire mitigation capital expenditures, the analyst points out. Further, until PG&E (PCG) emerges from bankruptcy, which is expected in March 2020, the Wildfire Mitigation Fund will only pay out 40% of allowed claims, adds Fremont. He keeps a Buy rating on Edison International (EIX) and Neutral rating on PG&E.
08/19/19
SBSH
08/19/19
DOWNGRADE
SBSH
Sell
PG&E downgraded to Sell from Buy at Citi
08/19/19
SBSH
08/19/19
DOWNGRADE
Target $4
SBSH
Sell
Citi double downgrades PG&E to Sell after Tubbs fire allowed to go to jury
As previously reported, Citi analyst Praful Mehta double downgraded PG&E, to Sell from Buy, after a U.S. Bankruptcy Court judge in San Francisco allowed PG&E to hold on to sole rights to construct a chapter 11 exit plan but also allowed the Tubbs fire to be tried in jury trial in California state court. The Tubbs fire, which could an incremental $15B in total liabilities for PG&E, is "too big" and a jury trial is "too risky," said Mehta, who slashed his price target on PG&E shares to $4 from $33, stating that the difference in target is due to now incorporating $15B of Tubbs wildfire liabilities in his estimates.
08/20/19
UBSW
08/20/19
NO CHANGE
Target $13
UBSW
Neutral
PG&E price target lowered to $13 from $24 at UBS
UBS analyst Dan Ford lowered his price target on PG&E to $13 and kept his Neutral rating after a "surprise" court ruling in California lifting a stay on individual lawsuits for 2017 Tubbs fire damages. The analyst notes that the news adds to the uncertainty around the timing and the value of the company's potential reorganization and warns that the outcome of court-ordered jury trials could vary from zero to up to $20B, with "damages up to 3-times the base".
EIX Edison International
$73.06

0.8 (1.11%)

06/04/19
UBSW
06/04/19
UPGRADE
Target $72
UBSW
Buy
Edison International upgraded to Buy from Neutral at UBS
UBS analyst Daniel Ford upgraded Edison International to Buy from Neutral and raised his price target for the shares to $72 from $67. The analyst sees improving regulatory and legislative visibility in California with progress toward wildfire legislation for 2019 and changes at the California Public Utilities Commission. While failure to pass wildfire legislation in 2019 could provide downside, shares of Edison are pricing in $7B of new equity and a 10% discount for strict liability to buffer this risk, Ford tells investors in a research note.
06/06/19
SBSH
06/06/19
NO CHANGE
SBSH
Buy
Citi found CA Assembly Utilities Committee hearing positive for PG&E
Citi analyst Praful Mehta found increased acknowledgement by a number of members that wildfire costs do need to be socialized across a number of group at yesterday's California Assembly Utilities Committee hearing. This acknowledgement, rather than a singular focus on holding the utility accountable, is a "step towards a constructive solution," Mehta tells investors in a research note. He continues to believe legislation will be passed this session and that it will "follow the path of least resistance." Mehta views the hearing as positive and remains constructive on shares of PG&E (PCG) and Edison International (EIX). He keeps a Buy rating on PG&E with a $33 price target.
06/10/19
MZHO
06/10/19
NO CHANGE
Target $75
MZHO
Buy
Edison International price target raised to $75 from $72 at Mizuho
Mizuho analyst Paul Fremont raised his price target for Edison International to $75 from $72 after "substantially increasing" his 2019-20 earnings estimates to reflect the company's earnings guidance presentation. He keeps a Buy rating on the shares.
07/01/19
MZHO
07/01/19
NO CHANGE
MZHO
Buy
Mizuho views changes to California bill as 'constructive' for state utilities
Early Friday morning the California Senate released their changes to AB 1054 which addresses the wildfire risk for each of the state's utilities, Mizuho analyst Paul Fremont tells investors in a research note. The analyst views the changes as "constructive" for the California utilities. Utilities will fund $7.5B of the $18B Wildfire Mitigation fund, and will be able to get recovery, but not a return on, $5B worth of wildfire mitigation capital expenditures, the analyst points out. Further, until PG&E (PCG) emerges from bankruptcy, which is expected in March 2020, the Wildfire Mitigation Fund will only pay out 40% of allowed claims, adds Fremont. He keeps a Buy rating on Edison International (EIX) and Neutral rating on PG&E.

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TELL

Tellurian

$8.33

-0.1 (-1.19%)

20:44
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NEXT

NextDecade

$6.30

-0.1 (-1.56%)

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LINX

Linx S.A.

$7.74

0.22 (2.93%)

20:32
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20:25
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Conference/Events
Morgan Stanley steel analyst to hold an analyst/industry conference call »

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GIS

General Mills

$55.03

0.48 (0.88%)

20:25
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ROAD

Construction Partners

$14.39

-0.42 (-2.84%)

20:10
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Syndicate
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NVST

Envista

$0.00

(0.00%)

19:58
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09/17
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Syndicate
Envista 26.77M share IPO priced at $22.00 »

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INVH

Invitation Homes

$28.49

0.31 (1.10%)

19:51
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09/17
19:51
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19:51
Syndicate
Invitation Homes 44M share Spot Secondary priced at $28.25 »

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  • 18

    Sep

AMC

AMC Entertainment

$11.46

-0.46 (-3.86%)

, NCMI

National CineMedia

$8.35

0.25 (3.09%)

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Hot Stocks
AMC Entertainment corrects 'inaccurate' statement by National CineMedia »

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AMC Entertainment

$11.46

-0.46 (-3.86%)

NCMI

National CineMedia

$8.35

0.25 (3.09%)

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  • 09

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BA

Boeing

$384.61

5.74 (1.52%)

19:01
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Hot Stocks
House panel invites Boeing CEO to testify on 737 MAX »

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  • 02

    Oct

O

Realty Income

$75.76

1.81 (2.45%)

18:56
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09/17
18:56
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Hot Stocks
Realty Income raises monthly cash dividend to 22.7c per share from 22.65c »

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NLNK

NewLink Genetics

$1.90

-0.03 (-1.55%)

, CDW

CDW

$113.91

0.94 (0.83%)

18:54
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Fly Intel: After Hours Movers »

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NLNK

NewLink Genetics

$1.90

-0.03 (-1.55%)

CDW

CDW

$113.91

0.94 (0.83%)

TELL

Tellurian

$8.33

-0.1 (-1.19%)

NEXT

NextDecade

$6.30

-0.1 (-1.56%)

FDX

FedEx

$173.53

-0.14 (-0.08%)

XPO

XPO Logistics

$73.83

-0.76 (-1.02%)

CHWY

Chewy

$30.20

-0.2 (-0.66%)

ADBE

Adobe

$284.59

1.54 (0.54%)

IOTS

Adesto Technologies

$10.63

-0.66 (-5.85%)

PTCT

PTC Therapeutics

$43.26

0.27 (0.63%)

TBIO

Translate Bio

$11.01

0.405 (3.82%)

ACAD

Acadia

$42.60

-1.45 (-3.29%)

03/08/13
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  • 17

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  • 18

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  • 18

    Sep

YUMA

Yuma Energy

$5.08

-0.05 (-0.97%)

18:51
09/17/19
09/17
18:51
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18:51
Hot Stocks
Yuma Energy enters forbearance agreement with lender YE Investment »

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ADBE

Adobe

$284.59

1.54 (0.54%)

18:45
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Hot Stocks
Adobe CEO: We experienced growth across all of our segments »

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  • 17

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ARAY

Accuray

$3.09

-0.03 (-0.96%)

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Data in Lancet Oncology discloses lower toxicity for Accuray Cyberknife patients »

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FBK

FB Financial

$38.33

-0.36 (-0.93%)

18:29
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FB Financial acquires FNB Financial »

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  • 23

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GM

General Motors

$38.28

1.07 (2.88%)

18:28
09/17/19
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18:28
Periodicals
GM stops paying health insurance costs for union workers on strike, Reuters says »

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TOT

Total

$52.85

0.08 (0.15%)

18:25
09/17/19
09/17
18:25
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18:25
Periodicals
Total CEO says Saudi oil facility strikes will have consequences, Reuters says »

Total CEO Patrick…

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  • 24

    Sep

SMMF

Summit Financial Group

$25.96

-0.29 (-1.10%)

18:02
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18:02
Hot Stocks
Summit Financial and Cornerstone Financial sign merger agreement »

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STLD

Steel Dynamics

$30.93

-0.89 (-2.80%)

18:01
09/17/19
09/17
18:01
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18:01
Earnings
Steel Dynamics sees Q3 EPS 66c-70c, consensus 71c »

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FDX

FedEx

$173.53

-0.14 (-0.08%)

18:00
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09/17
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Hot Stocks
Breaking Hot Stocks news story on FedEx »

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  • 17

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FDX

FedEx

$173.53

-0.14 (-0.08%)

17:59
09/17/19
09/17
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Hot Stocks
FedEx says new FY20 EPS forecast assumes no further weakening in economic growth »

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  • 17

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    Nov

BTI

British American Tobacco

$36.84

0.825 (2.29%)

, PM

Philip Morris

$71.98

-0.54 (-0.74%)

17:57
09/17/19
09/17
17:57
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17:57
General News
NY State implements first-in-nation ban on flavored e-cigarettes »

Governor Andrew M. Cuomo…

BTI

British American Tobacco

$36.84

0.825 (2.29%)

PM

Philip Morris

$71.98

-0.54 (-0.74%)

MO

Altria Group

$41.31

-0.1 (-0.24%)

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  • 12

    Nov

MRK

Merck

$82.53

0.52 (0.63%)

17:57
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09/17
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17:57
Hot Stocks
Merck says FDA approves Keytruda-Lenvima combo treatment »

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ENB

Enbridge

$35.27

0.1 (0.28%)

17:56
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09/17
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Enbridge says Minnesota Supreme Court rejects L3RP FEIS appeals »

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