PG&E shares plunged Monday, following news that a jury can decide whether the company should pay up to $18 billion in damages to wildfire victims.
U.S. 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. “PG&E has made significant progress in further refining a viable, fair, and comprehensive plan of reorganization that will compensate wildfire victims, protect customer rates, and put PG&E on a path to be the energy company our customers need and deserve.”
Attorneys for a group of victims and insurance companies that paid damages have refuted the state's findings in bankruptcy court papers.
In January, PG&E filed for Chapter 11, as it faced upto $30 billion in potential wildfire liabilities.
Last week, PG&E reported a wider second-quarter loss of -$4.83 a share, wider than a year-ago quarter’s loss of -$1.91.
PCG saw its Momentum Indicator move above the 0 level on October 14, 2024. This is an indication that the stock could be shifting in to a new upward move. Traders may want to consider buying the stock or buying call options. Tickeron's A.I.dvisor looked at 99 similar instances where the indicator turned positive. In of the 99 cases, the stock moved higher in the following days. The odds of a move higher are at .
The Moving Average Convergence Divergence (MACD) for PCG just turned positive on October 15, 2024. Looking at past instances where PCG's MACD turned positive, the stock continued to rise in of 49 cases 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 308 cases, the price rose further within the following month. The odds of a continued upward trend are .
The 10-day RSI Indicator for PCG moved out of overbought territory on October 17, 2024. This could be a bearish sign for the stock. Traders may want to consider selling the stock or buying put options. Tickeron's A.I.dvisor looked at 33 similar instances where the indicator moved out of overbought territory. In of the 33 cases, the stock moved lower in the following days. This puts the odds of a move lower at .
The Stochastic Oscillator demonstrated that the ticker has stayed in the overbought zone for 6 days. The longer the ticker stays in the overbought zone, the sooner a price pull-back is expected.
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 .
PCG broke above its upper Bollinger Band on October 14, 2024. This could be a sign that the stock is set to drop as the stock moves back below the upper band and toward the middle band. You may want to consider selling the stock or exploring put options.
The Tickeron Price Growth Rating for this company is (best 1 - 100 worst), indicating outstanding price growth. PCG’s price grows at a higher rate over the last 12 months as compared to S&P 500 index constituents.
The Tickeron Profit vs. Risk Rating rating for this company is (best 1 - 100 worst), indicating low risk on high returns. The average Profit vs. Risk Rating rating for the industry is 64, placing this stock better than average.
The Tickeron Seasonality Score of (best 1 - 100 worst) indicates that the company is fair valued in the industry. The Tickeron Seasonality score describes the variance of predictable price changes around the same period every calendar year. These changes can be tied to a specific month, quarter, holiday or vacation period, as well as a meteorological or growing season.
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 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 Valuation Rating of (best 1 - 100 worst) indicates that the company is significantly 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 (1.714). P/E Ratio (15.771) is within average values for comparable stocks, (23.466). 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 (3.109).
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