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. We recognize the need to balance the interests of many stakeholders while maintaining safe, reliable, and affordable services for our customers, which is always our top priority”, without commenting on bankruptcy filing.
State Senator Jerry Hill said that the utility previously raised bankruptcy as leverage when seeking state assistance towards meeting its liabilities from wildfires in 2017.
The company has lost more than half its market value since the deadly wildfire broke out in California in early November.
In November, California Assemblyman Chris Holden suggested that a bill would be introduced in January to help PG&E absorb potential liabilities from the latest wildfires. Around the same time, California Public Utilities Commission chief Michael Picker’s agency was assessing whether to break up or take over PG&E’s Pacific Gas and Electric utility.
PCG may jump back above the lower band and head toward the middle band. Traders may consider buying the stock or exploring call options. In of 36 cases where PCG's price broke its lower Bollinger Band, its price rose further in the following month. The odds of a continued upward trend are .
The Momentum Indicator moved above the 0 level on April 24, 2024. You may want to consider a long position or call options on PCG as a result. In of 99 past instances where the momentum indicator moved above 0, the stock continued to climb. The odds of a continued upward trend are .
The Moving Average Convergence Divergence (MACD) for PCG just turned positive on April 19, 2024. Looking at past instances where PCG's MACD turned positive, the stock continued to rise in of 50 cases over the following month. The odds of a continued upward trend are .
PCG moved above its 50-day moving average on April 18, 2024 date and that indicates a change from a downward trend to an upward trend.
The 10-day moving average for PCG crossed bullishly above the 50-day moving average on April 04, 2024. This indicates that the trend has shifted higher and could be considered a buy signal. In of 18 past instances when the 10-day crossed above the 50-day, the stock continued to move higher over the following month. The odds of a continued upward trend are .
Following a 3-day Advance, the price is estimated to grow further. Considering data from situations where PCG advanced for three days, in of 287 cases, the price rose further within the following month. The odds of a continued upward trend are .
The Stochastic Oscillator has been in the overbought zone for 2 days. Expect a price pull-back in the near future.
Following a 3-day decline, the stock is projected to fall further. Considering past instances where PCG declined for three days, the price rose further in of 62 cases within the following month. The odds of a continued downward trend are .
The Aroon Indicator for PCG entered a downward trend on March 27, 2024. This could indicate a strong downward move is ahead for the stock. Traders may want to consider selling the stock or buying put options.
The Tickeron Price Growth Rating for this company is (best 1 - 100 worst), indicating fairly steady price growth. PCG’s price grows at a lower rate over the last 12 months as compared to S&P 500 index constituents.
The Tickeron SMR rating for this company is (best 1 - 100 worst), indicating slightly better than average sales and a considerably profitable business model. SMR (Sales, Margin, Return on Equity) rating is based on comparative analysis of weighted Sales, Income Margin and Return on Equity values compared against S&P 500 index constituents. The weighted SMR value is a proprietary formula developed by Tickeron and represents an overall profitability measure for a stock.
The Tickeron PE Growth Rating for this company is (best 1 - 100 worst), pointing to worse than average earnings growth. The PE Growth rating is based on a comparative analysis of stock PE ratio increase over the last 12 months compared against S&P 500 index constituents.
The Tickeron Valuation Rating of (best 1 - 100 worst) indicates that the company is slightly overvalued in the industry. This rating compares market capitalization estimated by our proprietary formula with the current market capitalization. This rating is based on the following metrics, as compared to industry averages: P/B Ratio (1.727) is normal, around the industry mean (1.706). P/E Ratio (15.771) is within average values for comparable stocks, (23.333). PCG's Projected Growth (PEG Ratio) (1.119) is slightly lower than the industry average of (2.620). Dividend Yield (0.001) settles around the average of (0.074) among similar stocks. P/S Ratio (1.449) is also within normal values, averaging (3.505).
The Tickeron Profit vs. Risk Rating rating for this company is (best 1 - 100 worst), indicating that the returns do not compensate for the risks. PCG’s unstable profits reported over time resulted in significant Drawdowns within these last five years. A stable profit reduces stock drawdown and volatility. The average Profit vs. Risk Rating rating for the industry is 71, placing this stock worse than average.
The average fundamental analysis ratings, where 1 is best and 100 is worst, are as follows
a provider of electric energy services and transports natural gas
Industry ElectricUtilities