#4 - Pacific Gas & Electric (NYSE:PCG)
Pacific Gas & Electric (NYSE: PCG) - The California utility has had a very rough news cycle. With some speculation that it could be held liable for one of the California wildfires, some investors have justifiably headed for the exits. That news is largely the reason the stock is down over 45% since early November. However, other investors are seeing the decline as a buying opportunity specifically when the California Public Utilities Commission made statements that eased concerns of insolvency by the utility. The question for investors is whether they believe policymakers in California will follow through on 2018 regulations or respond to public demand that there be a scapegoat. But while the legal proceedings to determine fault may take months to resolve, the impact is most likely already priced into the stock. That’s why even though analysts from Wells Fargo recently cut the price target on PCG to $47 from $60, they affirmed an outperform rating for the stock. Value investors looking to buy the stock for dividends should look elsewhere. The company suspended its dividend program and is unlikely to resume it anytime soon.
About PG&E
PG&E Corporation, through its subsidiary, Pacific Gas and Electric Company, engages in the sale and delivery of electricity and natural gas to customers in northern and central California, the United States. It generates electricity using nuclear, hydroelectric, fossil fuel-fired, fuel cell, and photovoltaic sources.
Read More - Current Price
- $21.23
- Consensus Rating
- Moderate Buy
- Ratings Breakdown
- 9 Buy Ratings, 1 Hold Ratings, 0 Sell Ratings.
- Consensus Price Target
- $22.80 (7.4% Upside)
