Shares of PG&E Corp. PCG 11.18%, the embattled California utility, have shed a stunning 70 percent of their value this year as the company is considering bankruptcy amid facing $30 billion in liabilities from the 2017 and 2018 California wildfires. READ MORE...

 Berkshire has agreed to buy the company's natural gas transmission and storage business for nearly $10 billion in cash and debt. The transaction amounts to nearly $10-billion in enterprise value.The odds of a continued Downtrend are 45%. The Momentum Indicator moved below the 0 level on June 12, 2020.

PG&E  will issue as much as $6 billion of investment-grade bonds. According to Bloomberg (citing a source), the utilities company’s first-mortgage bonds will be offered in up to six tranches.The largest slice will be from 30-year bonds, which may yield 2.625 percentage points above treasury securities, according to the source. The bond offerings would go an $11 billion financing package to help the company emerge from bankruptcy proceedings. On Monday, PG&E started marketing high-yield bonds and a term loan, which total $4.75 billion, according to Bloomberg. PCG in Downtrend: its price expected to drop as it breaks its higher Bollinger Band on May 18, 2020 This price move signals that PCG may fall back below the higher band and head toward the middle band.

One company that dropped was NextEra Energy (NYSE: NEE), but in its case, the loss was bigger than some of the other stocks. From the end of October through November 8, NextEra dropped 6.82% while the Utilities Select Sector SPDR (NYSE:XLU) fell 3.89%.This seems a little odd because NextEra is the number one rated stock in Investor's Business Daily's electric utilities group. The company has seen its earnings grow by 11% per year over the last three years and they were up 10% last quarter.

Vivint Solar refuted a research note that claimed that the solar-power company has been concealing lawsuits. "This is a deeply misleading report from a self-interested short seller that we vigorously dispute," Vivint told TheStreet in a statement Monday, after Marcus Aurelius Value sent the stock dropping Friday with a research note titled "VSLR: Fiddler on the Roof." The Marcus Aurelius Value report indicated that Vivint appears to have largely concealed a growing pattern of undisclosed lawsuits, thereby alleging that the company has been involved  in a nationwide fraud involving forged customer contracts.The report led to Vivint shares plunging by as much as -12% Friday; shares recovered a bit and ended the day down -2%.

Bankruptcy Judge Dennis Montali on Friday said that a court trial can decide if the gas & electricity company is responsible for the 2017 Tubbs Fire, which destroyed more than 5,600 buildings and took 22 people’s lives.The catastrophic fire became the second most destructive in California’s history. “Regardless of the next legal steps, Cal Fire has already determined that the cause of the 2017 Tubbs Fire was not related to PG&E equipment,” PG&E said in an emailed statement.

Texas electricity supplier NRG Energy (NYSE: NRG) has been lagging the utilities sector and the overall market so far in 2019 and now the stock is running into a couple of different forms of resistance.We see on the daily chart that the $36 area acted as support back in December and then the stock fell below that level in May.

Known for its generous dividend yield, one of the largest utility company in the United States – Dominion Energy, is all set to lose its tag of ‘dividend growth machine’ as the company plans to slow down its dividend growth to ensure it remains a great income stock. Sitting at the top end of the spectrum in terms of dividend yield compared to its peers, the company has an impeccable record of increasing its dividend annually for 16 consecutive years.The company has been recently seen moving its business more and more toward assets with regulated businesses or fee-based structures.

Another Norwegian company, Ocean Sun, specializes in floating solar technology and will be responsible for providing Statkraft with a floating solar plant in a reservoir in the European country. The Albanian solar park will be made up of four 0.5 megawatt (MW) units, Statkraft said in an announcement Tuesday.He is further hopeful that if the current plan works out well and cost-effectiveness is also reached, the company will think of establishing more floating solar in other Statkraft locations. According to a 2018 report from the World Bank Group and the Solar Energy Research Institute of Singapore, worldwide capacity of floating solar had increased from 10 MW at the end of 2014 to 1.1 gigawatts (GW) by September 2018.

The Southern Company (SO) has now brought reactors like Westinghouse AP100 online in China to help break the trend of cost overruns and delays at the company’s Vogtle nuclear construction site in Georgia. SO is known to have set up a nuclear power plant during the late 1980s at its Vogtle facility.The company believes it is on schedule to hit its November 2021 and November 2022 in-service dates for its two new nuclear units, thanks to the improved efficiency driven by positive employment and retention trends. It has also reformed its decisions about employing less skilled labor for doing simple tasks, and focusing more on skilled labors with tasks only they can complete. But the role of China is crucial in Southern’s plans to finish strongly at the Vogtle project.

Shareholders of beleaguered electric utility PG&E Corporation (NYSE: PCG) got a big break today.With Citigroup upgrading the bankrupt utility stock to "buy," PG&E shares are up 16.1% as of 12:20 p.m. EST -- and climbing. READ MORE...

Shares of California’s biggest utility owner, PG&E Corp, jumped more than 10% on Tuesday after the company announced that it has secured bankruptcy financing worth $5.5 billion in the form of debtor-in-possession (DIP) financing from four banks. According to the company, four investment banks JPMorgan Chase & Co (JPM), Bank of America Merrill Lynch (BAC), Barclays Plc (BARC) and Citigroup Inc (C) are expected to help with the financing, which is expected to comprise of a $3.5 billion revolving credit facility, a $1.5 billion term loan and a $500 million delayed-draw term loan. The U.S. power producer, which provides electricity and natural gas to nearly 16 million customers in northern and central California, was recently hit by extensive litigation, government investigations and liabilities that could potentially exceed $30 billion because of wildfires in the state. As the company prepares to file for Chapter-11 bankruptcy protection, its bankruptcy plan has rever

G&E Corp (PCG.N), owner of the biggest U.S. power utility by customers, said on Monday it is preparing to file for Chapter 11 bankruptcy protection as soon as this month amid pressure from potentially crushing liabilities linked to California’s catastrophic wildfires in 2017 and 2018. Read More...   

(Bloomberg) -- The lights would stay on if California utility giant PG&E Corp. files for bankruptcy.But the company, its customers and investors would be set for years of uncertainty. While utility bankruptcies are rare, they can result in anything from a healthy company to a breakup, with business units sold off like spare parts.

Entergy Corp. (NYSE: ETR) is an electric utility company that provides electricity to customers in Arkansas, Louisiana, Mississippi, and Texas.The company serves 2.9 million customers in the region. Entergy has been trending higher essentially since the beginning of 2014.

Shares of the embattled utility company, PG&E, tumbled as much as 17% on Tuesday after S&P Global relegated the utility’s credit rating to junk, with a negative outlook on the back of its potential liability in the California wildfires. S&P downgraded the rating on PG&E and its subsidiary Pacific Power & Gas from BBB-, the lowest tier of investment-grade ratings, to B (which is deep into junk territory) citing political and regulatory pressure and uncertainty surrounding its potential liabilities. To make matters more challenging, PG&E's is likely to face much higher interest rates in the event they need to borrow money to fund penalties and operations.S&P Global also indicated limiting PG&E’s capital access to secured debt issuance, citing credit risk and speculation of a potential bankruptcy, thereby further limiting its financing options. Much like its stock shares, PG&E’s largest bond, a $3 billion note due in March 2034 with a 6.05%

Shares of Pacific Gas and Electric (PG&E), a US investor-owned utility company, slumped ~25% in Monday’s opening hour trade.This happened after CNBC reported that PG&E might face a minimum of $30 billion in liabilities excluding penalties, fines or punitive damages related to California wildfires in 2017 and 2018. Further, with the utility company contemplating filing for bankruptcy protection as it anticipates a massive Q4 charge, investors started to abandon the stock that could worsen the company’s prospects. PG&E is poised for its biggest fall since November 2014, when the stock was on the verge being downgraded to junk after it had announced the exhaustion of its revolving credit line. Although the bankruptcy news hasn’t been confirmed by the company, according to sources familiar to the matter, the company is seriously contemplating the sale of its gas assets to cover liability costs related to the wildfires. Further, with PG&E being a one of the biggest utili

PG&E Corp is reportedly mulling whether to file for bankruptcy as soon as February, according to  a Bloomberg report citing people familiar with the situation.The bankruptcy protection is apparently being sought to deal with its potential wildfire liabilities. In a statement late Friday, PG&E said it’s “working diligently to assess the company’s potential liabilities as a result of the wildfires and the options for addressing those liabilities.

The energy sector is down over 23% during that time. Looking through a number of charts last evening, there are several utilities stocks with similar chart patterns.They have formed trend channels over the last six months, and when the sector got hit with some selling last week, many of them dropped down to their lower rails. One such stock that caught my eye was NRG Energy (NYSE: NRG).

One utility stock that has held up and even gained ground in the last few months is NextEra Energy (NYSE: NEE). The stock has formed a trend channel over the last six months with the lower rail connecting lows from June, September, and November.This is the first time the indicators have been in oversold territory since the end of September and only the second time in the last six months. NextEra has mixed fundamentals readings.