Ultime notizie per PG&E (NYSE:PCG) Azioni

PG&E

PG&E is a holding company whose main subsidiary is Pacific Gas and Electric, a regulated utility operating in Central and Northern California that serves 5.3 million electricity customers and 4.6 million gas customers in 47 of the state's 58 counties. PG&E operated under bankruptcy court supervision between January 2019 and June 2020. In 2004, PG&E sold its unregulated assets as part of an earlier postbankruptcy reorganization.

PG&E Corp

Litman Gregory Funds Trust Polen Capital Global Growth ETF

PC Group Inc

Pacific Gas & Electric Co. 6% Preferred Stock

Pacific Gas & Electric Co

Pacific Gas & Electric Co. 5 1/2% Preferred Stock

Pacific Gas & Electric Co. 5% 1st Preferred Stock

Pacific Gas & Electric Co. 5% 1st Red. Preferred Stock

Pacific Gas & Electric Co. 5% 1st A Preferred Stock

Pacific Gas & Electric Co. 4.80% 1st Preferred Stock

Pacific Gas & Electric Co. 4.50% 1st Preferred Stock

Pacific Gas & Electric Co. 4.36% 1st Preferred Stock

Barclays analyst Nicholas Campanella maintains PG&amp;E (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/PCG#NYSE">PCG</a>) with a Overweight and raises the price target from $24 to $25.

News

Price Target

Analyst Ratings

Barclays Maintains Overweight on PG&E, Raises Price Target to $25

PG&amp;E (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/PCG#NYSE">PCG</a>) has outperformed the market over the past 5 years by 5.85% on an annualized basis producing an average annual return of 20.21%. Currently, PG&amp;E has a market capitalization of $53.04 billion. 
Buying $1000 In PCG: If an investor had bought $1000 of PCG stock 5 years ago, it would be worth $2,528.61 today based on a price of $20.28 for PCG at the time of writing.
<h3>PG&amp;E's Performance Over Last 5 Years</h3>
<img src="https://www.benzinga.com/files/images/story/2024/1729272769_0.png" alt="comp_fig" />
Finally -- what's the point of all this? The key insight to take from this article is to note how much of a difference compounded returns can make in your cash growth over a period of time.
This article was generated by Benzinga's automated content engine and reviewed by an editor.

Trading Ideas

Here's How Much $1000 Invested In PG&E 5 Years Ago Would Be Worth Today

Another billionaire investor is rooting for Republican presidential candidate Donald Trump&#8217;s victory in the Nov. 5 election and has accordingly positioned his portfolio. The call comes on the heels of former hedge fund manager Stanley Druckenmiller&#8216;s<a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/10/41375637/market-very-convinced-of-a-trump-win-says-stanley-druckenmiller-why-billionaire-inv"> similar prediction.</a>
What&#8217;s In Store In Political Arena: &#8220;We believe that the likelihood of a Republican victory in the White House has increased, which would have a positive impact on certain sectors and the market overall,&#8221; said hedge fund Third Point founder and CEO Daniel Loeb said in the firm&#8217;s third-quarter investor letter. 
The hedge fund manager said the &#8220;America First&#8221; tariffs will increase domestic manufacturing, infrastructure spending, and prices of certain materials and commodities. He also said a potential reduction in regulation in the activist antitrust stance of the Biden-Harris administration would unleash productivity and a wave of corporate activity.
&#8220;Accordingly, we have increased certain positions that could benefit from such a scenario via both stock and option purchases and continue to shift our portfolio away from companies that will not,&#8221; the hedge fund manager said. A study of Senate races will likely see Republicans establishing a majority, thus precluding a &#8220;Blue Sweep&#8221; if Kamala Harris wins the race to the White House, according to the hedge-fund manager.
He warned of a &#8220;Blue sweep&#8221; theoretically ushering in crushing taxes, stifling regulations, and a headwind to growth.
See Also:<a href="https://www.benzinga.com/money/cyclical-stocks"> What Are Cyclical Stocks</a>
Economic Outlook: Loeb reassured investors regarding the economy. &#8220;In the economy, we see no evidence of recession, slowing inflation, and a real interest rate that still needs to come down,&#8221; he said.
The hedge fund manager also sees healthy consumer spending, and active levels of individual investing, providing a liquidity backdrop to sustain market levels. The setup is good for event-driven investing, he said, adding that &#8220;the potential for risk arbitrage transactions and corporate activity could usher in a golden age for the strategy.&#8221;
Third Point&#8217;s Q3 Winners &amp; Losers: Third Point Offshore Fund generated a return of 3.9%, taking the annualized net returns to 13.1%. The third-quarter returns of the fund, however, paled before the S&amp;P 500&#8217;s 5.9% gain and the MSCI World Index&#8217;s 6.5% rise.
Loeb noted that the global market gains continued in the third quarter but the rally broadened out in the quarter, with the Magnificent 7 trailing the broader market for the first time since the fourth quarter of 2022. Rate-sensitive stocks and cyclicals outperformed as the market looked ahead to the easing cycle, he added.
The top gainers and decliners of the fund are as follows:
Gainers
<ul>
<li>Privately-held R2 Semiconductor</li>
<li>PG&amp;E Corporation&#8217;s (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/PCG#NYSE">PCG</a>) Pacific Gas and Electric Company&nbsp;subsidiary</li>
<li>Utility Vistra Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/VST#NYSE">VST</a>)</li>
<li>KB Home (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/KBH#NYSE">KBH</a>)</li>
<li>Lifesciences and diagnostics company Danaher Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DHR#NYSE">DHR</a>)</li>
</ul>
Losers:
<ul>
<li>Bath &amp; Body Works, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BBWI#NYSE">BBWI</a>)</li>
<li>Amazon.com, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AMZN#NASDAQ">AMZN</a>)</li>
<li>Advance Auto Parts, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/AAP#NYSE">AAP</a>)</li>
<li>Alphabet Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GOOG#NASDAQ">GOOG</a>) (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GOOGL#NASDAQ">GOOGL</a>)</li>
<li>Microsoft Corporation (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MSFT#NASDAQ">MSFT</a>)</li>
</ul>
Loeb also said his fund initiated a position in Danish freight forwarder DSV. &#8220;We believe DSV can earn more than 100 DKK per share in 2027 and see significant upside for one of Europe's best companies,&#8221; he said.
The SPDR S&amp;P 500 ETF Trust (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SPY#NYSE">SPY</a>), an exchange-traded fund that tracks the performance of the S&amp;P 500 Index, traded up 0.25% to $583.78&nbsp;in premarket trading on Friday, according to<a href="https://benzinga.grsm.io/register174"> Benzinga Pro data.</a>
Read Next: 
<ul>
<li><a href="https://www.benzinga.com/markets/equities/24/10/41374232/amid-nvidias-stratospheric-rally-billionaire-investor-druckenmiller-regrets-cashing-out-of-ai-st">Amid Nvidia&#8217;s Stratospheric Rally, Billionaire Investor Druckenmiller Regrets Cashing Out Of AI Stalwart&#8217;s Stock: &#8216;I&#8217;m Licking My Wounds From A Bad Sale&#8217;</a></li>
</ul>
Image via Flickr

Analyst Color

Economics

Markets

AMZN

BBWI

GOOG

GOOGL

MSFT

Hedge Fund Billionaire Daniel Loeb Bets On Trump Win, Singles Out This Recent Buy As Having 'Significant Upside Potential'

Commodities

General

Given The Forecasted Strong Northerly Winds And Current Dry Vegetation Conditions, Pacific Gas And Electric Has Sent Advanced Notifications To Customers In Targeted Areas Where Power May Need To Be Proactively Shut Off For Safety To Reduce Wildfire Risk.

PG&amp;E Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/PCG#NYSE">PCG</a>) announced today that effective October 31, 2024, current Board Chair Robert Flexon is taking a Chief Executive Officer role at another utility company and consequently will be leaving the PG&amp;E Corporation and Utility Boards. He has been on both PG&amp;E boards since 2020 and earlier served as President and Chief Executive Officer at Dynegy Inc.&nbsp;&nbsp;

Management

Kerry Cooper To Succeed Robert Flexon As Chair Of PG&E Corporation Board Of Directors, Effective October 31, 2024

WIIM

PG&E shares are trading higher after Jeffries issued a Buy rating on the stock with a price target of $24.

Top Wall Street analysts changed their outlook on these top names. For a complete view of all analyst rating changes, including upgrades and downgrades, please see our <a href="https://www.benzinga.com/analyst-stock-ratings">analyst ratings page</a>.
<ul>
<li>UBS analyst Michael Goldsmith initiated coverage on NETSTREIT Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/NTST#NYSE">NTST</a>) with a Buy rating and announced a price target of $19. Netstreit shares closed at $15.70 on Friday. <a href="https://www.benzinga.com/quote/NTST/analyst-ratings">See how other analysts view this stock</a>.</li>
<li>Seaport Global analyst Michael Harrison initiated coverage on Element Solutions Inc (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ESI#NYSE">ESI</a>) with a Buy rating and announced a price target of $33. Element Solutions shares closed at $25.98 on Friday. <a href="https://www.benzinga.com/quote/ESI/analyst-ratings">See how other analysts view this stock</a>.</li>
<li>Citigroup analyst Kyle Menges initiated coverage on The Timken Company (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/TKR#NYSE">TKR</a>) with a Neutral rating and announced a price target of $90. Timken shares closed at $84.04 on Friday. <a href="https://www.benzinga.com/quote/TKR/analyst-ratings">See how other analysts view this stock</a>.</li>
<li>Wells Fargo analyst Praneeth Satish initiated coverage on Shoals Technologies Group, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SHLS#NASDAQ">SHLS</a>) with an Equal-Weight rating and announced a price target of $46. Shoals Technologies shares closed at $5.31 on Friday. <a href="https://www.benzinga.com/quote/SHLS/analyst-ratings">See how other analysts view this stock</a>.</li>
<li>Jefferies analyst Julien Dumoulin-Smith initiated coverage on PG&amp;E Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/PCG#NYSE">PCG</a>) with a Buy rating and announces Price Target of $24. PG&amp;E shares closed at $19.63 on Friday. <a href="https://www.benzinga.com/quote/PCG/analyst-ratings">See how other analysts view this stock.</a></li>
</ul>
Considering buying PCG stock? Here&#8217;s what analysts think:
<figure class="wp-block-image size-large is-resized"><img loading="lazy" decoding="async" width="1024" height="522" src="https://editorial-assets.benzinga.com/wp-content/uploads/2024/10/14094412/image-100-1024x522.png" alt="" class="wp-image-593945" style="width:632px;height:auto" srcset="https://editorial-assets.benzinga.com/wp-content/uploads/2024/10/14094412/image-100-1024x522.png 1024w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/10/14094412/image-100-300x153.png 300w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/10/14094412/image-100-768x392.png 768w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/10/14094412/image-100.png 1327w" sizes="(max-width: 1024px) 100vw, 1024px" /></figure>
Read More: 
<ul>
<li><a href="https://www.benzinga.com/news/24/10/41308141/this-analyst-with-85-accuracy-rate-sees-around-20-upside-in-amd-here-are-5-stock-picks-for-last-week">This Analyst With 85% Accuracy Rate Sees Around 20% Upside In AMD &#8211; Here Are 5 Stock Picks For Last Week From Wall Street&#8217;s Most Accurate Analysts</a></li>
</ul>

Initiation

NTST

SHLS

This PG&E Analyst Begins Coverage On A Bullish Note; Here Are Top 5 Initiations For Monday

Jefferies analyst Julien Dumoulin-Smith initiates coverage on PG&amp;E (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/PCG#NYSE">PCG</a>) with a Buy rating and announces Price Target of $24.

Jefferies Initiates Coverage On PG&E with Buy Rating, Announces Price Target of $24

Utility companies&mdash;those that provide electricity, water, natural gas, and other essential services for residential and commercial customers&mdash;have had a banner year. The benchmark Utilities Select Sector SPDR Fund (ARCA: XLU) has climbed by about 31% in the last year, with the bulk of those gains having occurred in the last six months.
Many investors have flocked to utility stocks in recent months in anticipation of the Federal Reserve&#39;s first rate cut in several years, which was confirmed at the Federal Open Market Committee meeting in September. With inflation dropping and a cooling jobs market, cautious investors unsure of the impact of the rate cut seek out utility stocks for their defensive capabilities.
Because of their essential nature, utility stocks tend to remain steady even in times of market turmoil. Many also have a strong history of paying out dividends. However, the rapid rise of the AI industry has prompted a surge in electricity demand, with Goldman Sachs estimating data center power demand will grow by 160% through 2030. This marks a major boon for many utility firms as well.
<h2>DTE: Strong Financial Position, Infrastructure Investment</h2>
DTE Energy Co. (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/dte#NYSE">DTE</a>) provides electricity and gas service to customers in Michigan and conducts an energy trading business. Despite its limited geographical range, DTE&#39;s target area is fast-growing, and demand for power is increasing alongside rapid population and economic growth.
DTE maintains a solid financial position, with operating EPS climbing by 44.4% year-over-year in the most recent quarter, driven by its electricity business. Analysts expect earnings growth to continue, and the company also offers an impressive 15-year history of dividend increases and a solid dividend yield of 3.23%.
This firm is also expanding strategically in terms of its preexisting electricity and gas infrastructure&mdash;it has already invested $2 billion in this area this year, with at least another $2 billion to come by the end of the year&mdash;and in a burgeoning solar operation. The company broke ground in September on a solar farm that is expected to generate power for 40,000 homes.
<h2>PCG: Well-Positioned for Data Center Demand Increase</h2>
PG&amp;E Corp. (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/pcg#NYSE">PCG</a>) serves the northern and central regions of California, traditionally a hotspot for tech firms and data center demand. Indeed, in a June investor update, the company noted that data center capacity totaling 3.5GW&mdash;enough to power about three million homes&mdash;is due to come online by 2030.
Between 2023 and 2040, PG&amp;E expects its overall load to grow by 2-4%, with about half of that coming from data center usage.
Coupled with the anticipated increase in demand is PG&amp;E&#39;s relative undervaluing compared with other utility companies. The firm has a forward P/E ratio of 14.6, and analysts have noted an average price target of $21.55, which is almost 9% higher than the current share price.
Together, this makes PG&amp;E both a strong defensive play in case of market upheaval as well as a strategic bet on the growth of AI and cloud computing needs.
<h2>VST: Deserving of the Hype?</h2>
Vistra Corp. (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/vst#NYSE">VST</a>) has drawn attention this year as the top-performing stock in the S&amp;P 500, beating out even the likes of chip manufacturing super-stock NVIDIA Corp. with 1-year returns of nearly 250%. Despite this massive rally, many analysts still rate Vistra as a &quot;Buy,&quot; seeing room for additional growth based on the strength of data center demand and the company&#39;s acquisition history.
Vistra serves electricity and natural gas customers across the U.S. It is positioned to benefit from growing electricity demand among data center operators through its growing nuclear business.
Vistra recently completed the acquisition of its remaining 15% non-controlling interest in Vistra Vision, its nuclear generation, energy storage, and renewables subsidiary.
With firms like Constellation Energy Corp. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/ceg#NASDAQ">CEG</a>) planning to focus on nuclear energy to meet data center demand, Vistra&#39;s acquisition sets it up to thrive in this space.
<h2>Buy-and-Hold Opportunity</h2>
Utility stocks like those above represent a buy-and-hold opportunity for investors looking to capitalize on dividends for passive income. Entering positions in utility stocks now may also provide investors access to firms on the cusp of major growth thanks to a wave of new demand requests for electricity to power a fast-growing AI industry.
The article &quot;<a href="https://www.marketbeat.com/stock-ideas/ai-boom-and-rate-cuts-boost-utility-stocks-best-growth-picks/">AI Boom and Rate Cuts Boost Utility Stocks: Best Growth Picks</a>&quot; first appeared on MarketBeat.

Earnings

Large Cap

Dividends

AI Boom and Rate Cuts Boost Utility Stocks: Best Growth Picks

Morgan Stanley analyst Stephen Byrd maintains PG&amp;E (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/PCG#NYSE">PCG</a>) with a Equal-Weight and raises the price target from $19 to $20.

Morgan Stanley Maintains Equal-Weight on PG&E, Raises Price Target to $20

PG&E Awarded $34.5M In Federal Grants For 19 Hydroelectric Projects

On CNBC's &#8220;Mad Money Lightning Round,&#8221; Jim Cramer said Wells Fargo &amp; Company (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/WFC#NYSE">WFC</a>) is going to go higher, adding that <a href="https://www.benzinga.com/quote/WFC">it's a &#8220;winner.&#8221;</a>
On Sept. 17, the San Francisco-based bank launched specialized Application Programming Interfaces (APIs) for its Commercial Banking clients, expanding its API portfolio. 
These APIs offer real-time data access aimed at boosting sales, improving liquidity, reducing credit risk, and cutting expenses for floorplan and channel finance clients <a href="https://www.benzinga.com/markets/equities/24/09/40903846/wells-fargo-launches-new-apis-to-boost-efficiency-and-productivity-details">across several industries.</a>
&#8220;It's had too big a move up,&#8221; Cramer said when asked about Iron Mountain Incorporated (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/IRM#NYSE">IRM</a>). &#8220;Let's move on.&#8221;
On Aug. 1, Iron Mountain reported better-than-expected second-quarter financial results and issued FY24 AFFO guidance above estimates. Also, the company increased its quarterly dividend.
Palantir Technologies Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/PLTR#NYSE">PLTR</a>) is a &#8220;cold&#8221; stock, Cramer said.
On Sept. 17, the company inked a multi-year, multi-million-dollar contract with Nebraska Medicine. As per the deal, Palantir will utilize its Artificial Intelligence Platform (AIP) to enhance healthcare through <a href="https://www.benzinga.com/markets/equities/24/09/40898997/palantirs-ai-powers-nebraska-medicine-inks-multi-million-dollar-deal-to-advance-patient-care">transformative technologies</a>.
The &#8220;Mad Money&#8221; host recommended buying PG&amp;E Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/PCG#NYSE">PCG</a>). &#8220;That stock is a good one, rate increase or no,&#8221; he added.
On Sept. 12, B of A Securities analyst Ross Fowler reinstated PG&amp;E with a Buy and announced a $24 price target.
Price Action:
<ul>
<li>Iron Mountain shares gained 0.5% to settle at $116.45 on Wednesday.</li>
<li>Wells Fargo shares fell 0.5% to close at $54.26 during the session.</li>
<li>Palantir shares fell 0.2% to close at $36.38 during Wednesday's session.</li>
<li>PG&amp;E shares fell 1.8% to settle at $19.51.</li>
</ul>
Read Next: 
<ul>
<li><a href="https://www.benzinga.com/markets/24/09/40927530/coinbase-global-electronic-arts-and-2-other-stocks-executives-are-selling">Coinbase Global, Electronic Arts And 2 Other Stocks Executives Are Selling</a></li>
</ul>
Image: Wikimedia Commons

Long Ideas

Media

PLTR

Jim Cramer: This Utilities Stock Is A Buy, Calls Wells Fargo A 'Winner'

PG&amp;E Customers Can Access, Understand, and Make Informed Decisions about their Electricity Usage from the Home App on iPhone, iPad, Mac and Apple Watch
OAKLAND, Calif., Sept. 16, 2024 /PRNewswire/ -- With the release of Apple&#39;s latest software updates, residential Pacific Gas and Electric Company (PG&amp;E) electric customers with an iPhone, iPad, Mac, and Apple Watch now have access to new electricity usage features within the Home app. Customers can now connect their PG&amp;E account to the Home app, enabling them to access, understand, and make informed decisions about electricity use.

AAPL

Residential PG&E Customers Can Now Easily Access Electricity Usage Data From Apple Home App

BofA Securities analyst Ross Fowler reinstated the Buy rating on Edison International (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/EIX#NYSE">EIX</a>), Pacific Gas &amp; Electric Co. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/PCG#NYSE">PCG</a>) and Sempra (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SRE#NYSE">SRE</a>).
The analyst writes that the companies are trading at discounts due to past wildfire concerns. Despite higher customer rates and concerns over affordability, California&#8217;s mechanisms for managing wildfire risks are among the best in the country, and recent developments create a favorable entry point for investors, adds the analyst.
Last month, the Park fire, the largest wildfire currently burning in the U.S., ravaged over 426,000 acres in Northern California, <a target="_blank" href="https://www.benzinga.com/markets/equities/24/08/40266751/the-park-fire-rages-on-which-companies-could-be-affected-by-californias-fourth-largest-wildfire-" rel="noreferrer noopener">particularly within Lassen National Forest</a>.
The fire spread rapidly due to hot, dry conditions and dense vegetation. Due to the region's rugged terrain, firefighters face difficulties in managing the fire. This fire has become the fourth largest in California history and could surpass the third-largest Mendocino Complex fire.
Read: <a target="_blank" href="https://www.benzinga.com/24/08/40224567/as-tropical-storm-debby-hits-south-carolina-bettors-predict-an-aggressive-hurricane-season-will-it-b" rel="noreferrer noopener">As Tropical Storm Debby Hits South Carolina, Bettors Predict An Aggressive Hurricane Season: Will It Be The Worst Ever?</a>
EIX: The analyst reinstates the Buy rating <a target="_blank" href="https://www.benzinga.com/quote/EIX/analyst-ratings" rel="noreferrer noopener">with a $95 price target</a>.
Fowler writes that the proposed settlement covering ~60% of wildfire liabilities could positively impact recovery from Woolsey fire expenses. The analyst adds that as an electric-only California utility, EIX is well-positioned to benefit from the state&#8217;s electrification policy.
The analyst expects project EPS of $4.97 (vs. consensus: $4.94) for 2024, $5.63 (same as consensus) for 2025, and $6.09 (street view: $5.99) for 2026.
PCG: Fowler reinstates the <a target="_blank" href="https://www.benzinga.com/quote/pcg/analyst-ratings" rel="noreferrer noopener">Buy rating with a price target of $24</a>.
The analyst writes that management has effectively cleaned up the company post-emergence, and PCG is evolving into a more regulated utility.
Customer rates are high, but the analyst expects the company to resemble peers by 2026.
Projected EPS are $1.37 (vs. consensus: $1.36) for 2024, $1.50 (vs. consensus: $1.49) for 2025, and $1.62 (vs. street view of $1.61) for 2026.
SRE: Fowler reinstates the Buy rating with a <a target="_blank" href="https://www.benzinga.com/quote/sre/analyst-ratings" rel="noreferrer noopener">price target of $94</a>.
The analyst says that SRE&#8217;s performance is often overshadowed by LNG headlines, though the regulated utilities in California and Texas drive value.
Capital plans shift earnings toward regulated sectors, and future LNG projects offer equity sell-down opportunities, adds the analyst.
Fowler projects EPS of $4.80 (vs. cons.: $4.77) for 2024, $5.16 (vs. $5.15 street view) for 2025 and $5.67 (vs. analyst cons. of $5.53) for 2026.
Image via Shutterstock
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</ul>

Equities

Mid Cap

California Utilities EIX, PCG, And SRE Offer Strong Buy Opportunities Despite Past Wildfire Concerns, Says BofA Analyst

B of A Securities analyst Ross Fowler reinstates PG&amp;E (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/PCG#NYSE">PCG</a>) with a Buy and announces $24 price target.

B of A Securities Reinstates Buy on PG&E, Announces $24 Price Target

As of Aug 30, 2024, three stocks in the utilities sector could be flashing a real warning to investors who value momentum as a key criteria in their trading decisions.
The RSI is a momentum indicator, which compares a stock&#8217;s strength on days when prices go up to its strength on days when prices go down. When compared to a stock&#8217;s price action, it can give traders a better sense of how a stock may perform in the short term. An asset is typically considered overbought when the <a href="https://www.benzinga.com/topic/rsi">RSI is above 70</a>, according to <a href="https://pro.benzinga.com/">Benzinga Pro</a>. 
Here's the latest list of major overbought players in this sector.
<h3 class="wp-block-heading">Eco Wave Power Global AB (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/WAVE#NASDAQ">WAVE</a>)</h3>
<ul>
<li>On Aug. 8, Eco Wave Power received green light for the repurchase of 10% of its American Depositary Shares. The company's stock gained around 40% over the past month and has a <a href="https://www.benzinga.com/quote/WAVE">52-week high of $4.94</a>.</li>
<li>RSI Value: 70.67&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</li>
<li>WAVE Price Action: Shares of Eco Wave Power Global gained 1.5% to close at $4.16 on Thursday.</li>
</ul>
<h3 class="wp-block-heading">WEC Energy Group Inc (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/WEC#NYSE">WEC</a>)</h3>
<ul>
<li>On July 31, WEC Energy posted better-than-expected quarterly earnings. &#8220;Despite the warmest winter on record, we&#8217;re delivering solid results, and we&#8217;re firmly on track for a strong 2024,&#8221; said Scott Lauber, president and CEO. &#8220;We&#8217;re focused on the fundamentals of our business — financial discipline, customer satisfaction and operating efficiency.&#8221; The company's stock gained around 8% over the past month and <a href="https://www.benzinga.com/quote/WEC">has a 52-week high</a> of $93.78.</li>
<li>RSI Value: 75.32</li>
<li>WEC Price Action: Shares of WEC Energy fell 0.02% to close at $92.77 on Thursday.</li>
</ul>
<h3 class="wp-block-heading">PG&amp;E Corp (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/PCG#NYSE">PCG</a>)</h3>
<ul>
<li>On July 25, PG&amp;E posted better-than-expected quarterly earnings. &#8220;We&#8217;re delivering for our customers and hometowns today through a foundation of safe operations, wildfire risk reduction and solid financial progress. We also see a bright future where we lower average household energy costs, including from transportation, and further cut carbon emissions,&#8221; said PG&amp;E Corporation CEO Patti Poppe. The company's stock gained around 7% over the past month and has a <a href="https://www.benzinga.com/quote/PCG">52-week high</a> of $19.84.</li>
<li>RSI Value: 75.64</li>
<li>PCG Price Action: Shares of PG&amp;E gained 3.7% to close at $19.60 on Thursday.</li>
</ul>
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Morgan Stanley analyst Stephen Byrd maintains PG&amp;E (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/PCG#NYSE">PCG</a>) with a Equal-Weight and raises the price target from $18 to $19.

Morgan Stanley Maintains Equal-Weight on PG&E, Raises Price Target to $19

The Nasdaq 100 closed higher by around 0.1% during Friday's session. Investors, meanwhile, focused on some notable insider trades.
When insiders sell shares, it could be a preplanned sale, or could indicate their concern in the company's prospects or that they view the stock as being overpriced. Insider sales should not be taken as the only indicator for making an investment or trading decision. At best, it can lend conviction to a selling decision.
Below is a look at a few recent notable insider sales. For more, check out <a href="https://www.benzinga.com/sec/insider-trades/">Benzinga&#8217;s insider transactions</a> platform.
<h3 class="wp-block-heading">CrowdStrike</h3>
<ul>
<li>The Trade: CrowdStrike Holdings, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CRWD#NASDAQ">CRWD</a>) Chief Security Officer Shawn Henry s<a href="https://www.benzinga.com/sec/insider-trades/">old a total of 4,000 shares</a> at an average price of $260.00. The insider received around $1.04 million from selling those shares.</li>
<li>What's Happening: On Aug. 16, BMO Capital analyst Keith Bachman maintained CrowdStrike Holdings with an Outperform and lowered the price target from $410 to $290.</li>
<li>What CrowdStrike Does: CrowdStrike is a cloud-based cybersecurity company specializing in next-generation security verticals such as endpoint, cloud workload, identity, and security operations.</li>
<li>Benzinga Pro's real-time newsfeed alerted to <a href="https://bzresearch.myclickfunnels.com/benzinga-pro-content-webinar-registration/?utm_source=BZprocontent081924&amp;t=be2bearmibe3na1">latest CRWD news.</a></li>
</ul>
<figure class="wp-block-image size-full is-resized"><a href="https://bzresearch.myclickfunnels.com/benzinga-pro-content-webinar-registration/?utm_source=BZprocontent081924&amp;t=be2bearmibe3na1"><img loading="lazy" decoding="async" width="902" height="837" src="https://editorial-assets.benzinga.com/wp-content/uploads/2024/08/19060421/image-145.png" alt="" class="wp-image-501059" style="width:609px;height:auto" srcset="https://editorial-assets.benzinga.com/wp-content/uploads/2024/08/19060421/image-145.png 902w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/08/19060421/image-145-300x278.png 300w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/08/19060421/image-145-768x713.png 768w" sizes="(max-width: 902px) 100vw, 902px" /></a></figure>
<h3 class="wp-block-heading">PG&amp;E</h3>
<ul>
<li>The Trade: PG&amp;E Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/PCG#NYSE">PCG</a>) VP and Controller Stephanie N Williams <a href="https://www.benzinga.com/sec/insider-trades/">sold a total of 38,601 shares</a> at an average price of $18.32. The insider received around $707,170 from selling those shares.</li>
<li>What's Happening: On July 25, PG&amp;E posted upbeat quarterly earnings.</li>
<li>What PG&amp;E Does: PG&amp;E is a holding company whose main subsidiary is Pacific Gas and Electric, a regulated utility operating in Central and Northern California that serves 5.3 million electricity customers and 4.6 million gas customers in 47 of the state&#8217;s 58 counties.</li>
<li>Benzinga Pro&#8217;s charting tool helped identify the <a href="https://bzresearch.myclickfunnels.com/benzinga-pro-content-webinar-registration/?utm_source=BZprocontent081924&amp;t=be2bearmibe3na1">trend in PCG stock.</a></li>
</ul>
<figure class="wp-block-image size-full is-resized"><a href="https://bzresearch.myclickfunnels.com/benzinga-pro-content-webinar-registration/?utm_source=BZprocontent081924&amp;t=be2bearmibe3na1"><img loading="lazy" decoding="async" width="906" height="831" src="https://editorial-assets.benzinga.com/wp-content/uploads/2024/08/19060535/image-146.png" alt="" class="wp-image-501062" style="width:628px;height:auto" srcset="https://editorial-assets.benzinga.com/wp-content/uploads/2024/08/19060535/image-146.png 906w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/08/19060535/image-146-300x275.png 300w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/08/19060535/image-146-768x704.png 768w" sizes="(max-width: 906px) 100vw, 906px" /></a></figure>
<h3 class="wp-block-heading">Goldman Sachs</h3>
<ul>
<li>The Trade: The Goldman Sachs Group, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GS#NYSE">GS</a>) Director, Chairman of the Board and CEO David M Solomon <a href="https://www.benzinga.com/sec/insider-trades/">sold a total of 6,000 shares</a> at an average price of $500.29. The insider received around $3 million from selling those shares.</li>
<li>What's Happening: Goldman Sachs has reportedly agreed to sell Blanchardstown Centre, Ireland's largest shopping mall, to credit firm Strategic Value Partners.</li>
<li>What Goldman Sachs Does: Goldman Sachs is a leading global investment banking and asset management firm.</li>
<li>Benzinga Pro&#8217;s signals feature notified of a potential <a href="https://bzresearch.myclickfunnels.com/benzinga-pro-content-webinar-registration/?utm_source=BZprocontent081924&amp;t=be2bearmibe3na1">breakout in GS shares.</a></li>
</ul>
<figure class="wp-block-image size-full is-resized"><a href="https://bzresearch.myclickfunnels.com/benzinga-pro-content-webinar-registration/?utm_source=BZprocontent081924&amp;t=be2bearmibe3na1"><img loading="lazy" decoding="async" width="877" height="831" src="https://editorial-assets.benzinga.com/wp-content/uploads/2024/08/19060641/image-147.png" alt="" class="wp-image-501063" style="width:646px;height:auto" srcset="https://editorial-assets.benzinga.com/wp-content/uploads/2024/08/19060641/image-147.png 877w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/08/19060641/image-147-300x284.png 300w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/08/19060641/image-147-768x728.png 768w" sizes="(max-width: 877px) 100vw, 877px" /></a></figure>
<h3 class="wp-block-heading">Citigroup</h3>
<ul>
<li>The Trade: Citigroup Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/C#NYSE">C</a>) Controller &amp; Chief Acc Officer Johnbull Okpara <a href="https://www.benzinga.com/sec/insider-trades/">sold a total of 25,299 shares </a> at an average price of $60.57. The insider received around $1.5 million from selling those shares.</li>
<li>What's Happening: Recently a federal appeals court reportedly ruled that Citigroup vice president is not entitled to a portion of the $400 million civil fine the bank agreed to pay in October 2020 due to its risk management failures.</li>
<li>What Citigroup Does: Citigroup is a global financial-services company doing business in more than 100 countries and jurisdictions. </li>
<li>Benzinga Pro&#8217;s earnings calendar was used to track upcoming <a href="https://bzresearch.myclickfunnels.com/benzinga-pro-content-webinar-registration/?utm_source=BZprocontent081924&amp;t=be2bearmibe3na1">earnings reports of Citi.</a></li>
</ul>
<figure class="wp-block-image size-full is-resized"><a href="https://bzresearch.myclickfunnels.com/benzinga-pro-content-webinar-registration/?utm_source=BZprocontent081924&amp;t=be2bearmibe3na1"><img loading="lazy" decoding="async" width="881" height="828" src="https://editorial-assets.benzinga.com/wp-content/uploads/2024/08/19060827/image-148.png" alt="" class="wp-image-501065" style="width:619px;height:auto" srcset="https://editorial-assets.benzinga.com/wp-content/uploads/2024/08/19060827/image-148.png 881w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/08/19060827/image-148-300x282.png 300w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/08/19060827/image-148-768x722.png 768w" sizes="(max-width: 881px) 100vw, 881px" /></a></figure>
Check This Out:<a href="https://www.benzinga.com/markets/24/08/40420521/jim-cramer-recommends-buying-clorox-ceo-has-done-remarkable-job"> </a>
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<li><a href="https://www.benzinga.com/markets/24/08/40420521/jim-cramer-recommends-buying-clorox-ceo-has-done-remarkable-job">Jim Cramer Recommends Buying Clorox: &#8216;CEO Has Done Remarkable Job&#8217;</a></li>
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Insider Trades

CRWD

CrowdStrike, Goldman Sachs And 2 Other Stocks Insiders Are Selling

California has faced numerous wildfires in recent memory as <a href="https://www.benzinga.com/topic/climate-change">climate change-induced weather</a> wreaks havoc on the Golden State. Which companies could be affected by the <a href="https://www.benzinga.com/markets/equities/24/08/40112086/august-heat-wave-grips-us-12-stocks-to-watch-as-blistering-temperatures-affect-nearly-150-millio">ongoing Park Fire</a> in Northern California?
Park Fire Rundown: The Park fire, the largest wildfire currently burning in the U.S., has ravaged over 426,000 acres in Northern California, particularly within Lassen National Forest, according <a href="https://www.nytimes.com/2024/08/08/us/park-fire-california.html?partner=slack&amp;smid=sl-share">to</a> the New York Times.
The fire, ignited by an arson attack on July 24 near Chico in Butte County, has destroyed hundreds of homes and structures and was 34% contained as of Wednesday. 
The fire spread rapidly due to hot, dry conditions and dense vegetation. Due to the region&#8217;s rugged terrain, firefighters face difficulties in managing the fire. This fire has become the fourth largest in California history and could surpass the third-largest Mendocino Complex fire.
Experts attribute its intensity to climate change&#8217;s impact on California&#8217;s weather conditions. The hotter, drier climate extended and worsened wildfire seasons.
The fire is in a similar region to the deadly 2018 Camp Fire in Butte County.
Market Implications: California wildfires can negatively affect several companies, including those in the insurance, utilities and logistics industries.
Hanover Insurance Group Inc (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/THG#NYSE">THG</a>) and Mercury General Corp (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/MCY#NYSE">MCY</a>) each took hits in the aftermath of the 2018 Camp Fire.
It is unclear what PG&amp;E Corp&#8216;s (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/PCG#NYSE">PCG</a>) exposure is to the Park Fire. The utility provider, which supplies electricity to the region, <a href="https://krcrtv.com/news/local/pge-restores-power-to-over-2000-customers-affected-by-the-park-fire">confirmed</a> that it left some customers without power. A failure in PG&amp;E&#8217;s electrical infrastructure caused the 2018 Camp Fire; the company <a href="https://www.benzinga.com/news/20/06/16327971/pg-e-bankruptcy-plan-gets-court-approval">later pleaded guilty</a> to the deaths of 84 victims of the fire.
Water utility firm California Water Service Group (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CWT#NYSE">CWT</a>) operates in Chico and nearby Oroville.
Union Pacific Corp (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/UNP#NYSE">UNP</a>) seemingly <a href="https://www.up.com/aboutup/reference/maps/system_map/index.htm">operates</a> railway lines close to the site of the fire. The lines connect Sacramento to the Pacific Northwest and Reno, Nevada.
Also Read:
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<li><a href="https://www.benzinga.com/24/08/40224567/as-tropical-storm-debby-hits-south-carolina-bettors-predict-an-aggressive-hurricane-season-will-it-b">As Tropical Storm Debby Hits South Carolina, Bettors Predict An Aggressive Hurricane Season: Will It Be The Worst Ever?</a></li>
</ul>

Events

The Park Fire Rages On: Which Companies Could Be Affected By California's Fourth-Largest Wildfire Ever?

PG&amp;E's (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/PCG#NYSE">PCG</a>) short percent of float has risen 3.31% since its last report. The company recently reported that it has 36.63 million shares sold short, which is 1.56% of all regular shares that are available for trading. Based on its trading volume, it would take traders 2.93 days to cover their short positions on average.
<h3>Why Short Interest Matters</h3>
Short interest is the number of shares that have been sold short but have not yet been covered or closed out. <a href="https://www.benzinga.com/money/how-to-short-a-stock/">Short selling</a> is when a trader sells shares of a company they do not own, with the hope that the price will fall. Traders make money from short selling if the price of the stock falls and they lose if it rises.
Short interest is important to track because it can act as an indicator of market sentiment towards a particular stock. An increase in short interest can signal that investors have become more bearish, while a decrease in short interest can signal they have become more bullish.
See Also: <a href="https://www.benzinga.com/short-interest">List of the most shorted stocks</a>
<h3>PG&amp;E Short Interest Graph (3 Months)</h3>
<img src="https://www.benzinga.com/files/images/story/2024/1723135513_0.png" alt="short_fig" />
As you can see from the chart above the percentage of shares that are sold short for PG&amp;E has grown since its last report. This does not mean that the stock is going to fall in the near-term but traders should be aware that more shares are being shorted.
<h3>Comparing PG&amp;E's Short Interest Against Its Peers</h3>
Peer comparison is a popular technique amongst analysts and investors for gauging how well a company is performing. A company's peer is another company that has similar characteristics to it, such as industry, size, age, and financial structure. You can find a company's peer group by reading its 10-K, proxy filing, or by doing your own similarity analysis.
According to <a href="https://pro.benzinga.com/">Benzinga Pro</a>, PG&amp;E's peer group average for short interest as a percentage of float is 2.41%, which means the company has less short interest than most of its peers.
Did you know that increasing short interest can actually be bullish for a stock? <a href="https://www.benzinga.com/money/how-to-make-money-on-a-short-squeeze/">This post by Benzinga Money explains how you can profit from it.</a>
This article was generated by Benzinga's automated content engine and was reviewed by an editor.

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Press Releases

Ameresco, Republic Services and PG&E Celebrate the Opening of California's Largest Landfill Gas to Renewable Natural Gas Plant

PG&E Crews Head to Georgia to Restore Power in Aftermath of Hurricane Helene as Part of Nationwide Mutual-Assistance Effort

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UGI Names Robert Flexon, President and Chief Executive Officer

Customer-Oriented Executive and Board Member Kerry Cooper to Succeed Robert Flexon as Chair of PG&E Corporation Board of Directors

Forecasted Dry, Northerly Winds Mean PG&E May Need to Proactively Shut Off Power for Safety to Approximately 28,000 customers across several counties starting Thursday

PG&E May Proactively Shut Off Power for Safety to Approximately 20,000 Customers Across 24 Counties Starting This Morning

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