PG&E Corp. Up Over 36% on Hope of Rescue From Wildfire-Related Liabilities -- Data Talk
November 16 2018 - 12:08PM
Dow Jones News
PG&E Corp. (PCG) is currently at $24.27, up $6.53 or
36.81%
-- Would be largest percent increase on record (Based on
available data back to Jan. 21, 1972)
-- Snaps a six-day losing streak
-- On Thursday, California's top energy regulator pledged a
review of the company, including exploring a breakup of the
utility, expanding an existing probe into its safety practices.
Public Utilities Commission President Michael Picker also indicated
in an interview that he did not believe a bankruptcy of PG&E
would be good for California citizens, and expressed an openness to
work to let the company pass on some wildfire-related lawsuit costs
to its customers
-- Earlier Friday, Benzinga reported that Morgan Stanley cut its
rating on PG&E to equal-weight from overweight and cut its
price target to $31.00/share from $67.00/share. Citigroup raised
PG&E to buy from neutral, and Argus cut its price target on the
company to $36.00/share from $54.00/share, Benzinga reported
-- Down 48.15% month-to-date
-- Down 45.86% year-to-date; on pace for worst year on record
(Based on available data back to Jan. 21, 1972)
-- Down 55.06% from 52 weeks ago (Nov. 17, 2017), when it closed
at $54.00
-- Up 36.81% from its 52-week closing low of $17.74 on Nov. 15,
2018
-- Best performer in the S&P 500 today
-- Third most active stock in the S&P 500 today
All data as of 11:19:45 AM
Source: Dow Jones Market Data, FactSet
(END) Dow Jones Newswires
November 16, 2018 11:53 ET (16:53 GMT)
Copyright (c) 2018 Dow Jones & Company, Inc.
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