Pacific Gas & Electric Co. ($PCG) Stock Forecast: Down 5.4% Today

What is Pacific Gas & Electric Co.?

PG&E Corporation (PCG) is a holding company that operates through its primary subsidiary, Pacific Gas and Electric Company, a public utility serving northern and central California. Overall Market: The stock market experienced a bearish movement today due to concerns over inflation and interest rates following strong jobs data.

Why is Pacific Gas & Electric Co. going down?

PCG stock is down 5.4% on Jan 13, 2025 18:43

• The bearish movement in PCG could be attributed to the lack of likelihood for a rate cut in the near future, which may have negatively impacted interest-sensitive stocks like utilities.
• The bullish coverage initiation on PCG by a top analyst might not have been enough to offset the broader market concerns and the specific challenges the company is facing.
• The overall negative sentiment in the market overshadowed any positive news or analyst coverage, leading to a significant downward movement in PCG's stock price.

PCG Price Chart

PCG Technical Analysis

PCG News

Stocks Slide as Strong Jobs Data Sparks Inflation and Rate Worries

The continued strength in job creation makes a rate cut unlikely in the first half of 2025.

https://www.zacks.com/stock/news/2395803/stocks-slide-as-strong-jobs-data-sparks-inflation-and-rate-worries

This PG&E Analyst Begins Coverage On A Bullish Note; Here Are Top 5 Initiations For Monday - Checkpoint Therapeutics ( NASDAQ:CKPT ) , Axis Capital Holdings ( NYSE:AXS )

Top Wall Street analysts changed their outlook on these top names. For a complete view of all analyst rating changes, including upgrades, downgrades and initiations, please see our analyst ratings page.

https://www.benzinga.com/25/01/42946216/this-pg-here-are-top-5-initiations-for-monday-2

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Pacific Gas & Electric Co. Price History

29.07.2024 - PCG Stock was up 2.0%

• The recent positive developments in resolving power issues may have contributed to the bullish movement in PCG stock, boosting investor confidence.
• Public and regulatory pressure on PG&E to address power issues promptly could have intensified after reports of Muttville Senior Dog Rescue being affected by outages.
• The optimistic investor sentiment towards PG&E's resilience and service reliability is reflected in the stock's strong performance.

28.10.2023 - PCG Stock was down 0.6%

• The bearish movement in PCG's stock today can be attributed to several factors:
• 1. Dividend Announcement: The reinstatement of the common stock dividend may have raised concerns among investors about the financial health and stability of the company. This could have led to a negative sentiment and selling pressure on the stock.
• 2. Downgrade by StockNews.com: The downgrade of PCG's rating from "hold" to "sell" by StockNews.com could have influenced investors to sell their holdings, further contributing to the bearish movement.
• 3. Decrease in Stock Holdings: The selling of shares by Metropolitan Life Insurance Co NY and Profund Advisors LLC suggests a lack of confidence in PCG's future prospects. This selling pressure could have added to the downward momentum in the stock price.
• 4. Thanksgiving Energy Efficiency Campaign: While not directly related to the bearish movement, the positive news about PG&E's efforts to promote energy efficiency during the Thanksgiving season may have had little impact on the overall market sentiment and the stock's performance.
• Overall, the combination of dividend concerns, downgrade, and selling pressure from institutional investors likely contributed to the bearish movement in PCG's stock today.

30.09.2023 - PCG Stock was up 2.9%

• The bullish movement in PCG's stock today could be attributed to the following factors:
• 1. Strong Q3 earnings: Despite a lower adjusted EPS compared to the previous year, PCG reported operating revenue growth of 9.2% year-over-year, beating consensus estimates. This positive revenue growth may have instilled confidence in investors.
• 2. Focus on wildfire risk reduction: PCG aims to reduce wildfire ignitions, which is a significant concern in California. This proactive approach to mitigating risks and ensuring safety may have positively influenced investor sentiment.
• 3. Beat revenue expectations: PCG's Q3 earnings report showed that the company beat revenue estimates. This indicates that the company is performing well and generating sufficient revenue, which could have attracted investors to the stock.
• 4. Market optimism: The overall market sentiment and investor optimism could have contributed to the bullish movement in PCG's stock. Positive news and earnings reports from other companies in the utilities sector may have created a favorable environment for PCG's stock to rise.

13.00.2025 - PCG Stock was down 5.7%

• The bearish movement in PCG's stock could be attributed to the negative sentiment surrounding the company's ongoing financial struggles and legal issues related to wildfires.
• The initiation of coverage on a bullish note by an analyst for PG&E's competitor might have diverted investor attention away from PCG, leading to a decline in its stock price.
• The overall market perception of PG&E's future prospects might have been further dampened by the analyst ratings changes, causing a significant sell-off in the stock.

13.00.2025 - PCG Stock was down 5.4%

• The bearish movement in PCG could be attributed to the lack of likelihood for a rate cut in the near future, which may have negatively impacted interest-sensitive stocks like utilities.
• The bullish coverage initiation on PCG by a top analyst might not have been enough to offset the broader market concerns and the specific challenges the company is facing.
• The overall negative sentiment in the market overshadowed any positive news or analyst coverage, leading to a significant downward movement in PCG's stock price.

02.11.2024 - PCG Stock was down 0.9%

• PCG's stock decline could be linked to general market sentiment, influenced by mixed U.S. stock and Dow futures.
• The notable drop in Stellantis N.V. shares may have impacted investor confidence, resulting in selling pressure on PCG and other stocks.
• Factors such as uncertain regulatory situations, ongoing legal disputes, and financial concerns surrounding PG&E might have contributed to the bearish movement in the stock.
• Investors may be responding to potential risks and issues facing PG&E, prompting a sell-off of the stock during the current trading session.

13.10.2024 - PCG Stock was up 0.1%

• PCG stock exceeded Q3 earnings estimates by a significant margin.
• Earnings and revenue surprises of 15.63% and 10.93% respectively likely boosted investor confidence in the stock.
• The positive earnings report may indicate strong financial performance and operational efficiency, leading to increased investor optimism and driving the bullish movement in PCG's stock price.
• Investors may now be looking forward to the company's future performance and potential growth prospects, as hinted at by the question of whether these numbers hold clues to what lies ahead for the stock.

07.10.2024 - PCG Stock was up 0.3%

• PCG stock showed significant positive movement recently.
• The company exceeded Q3 earnings expectations, demonstrating robust financial results.
• PCG has outperformed the market over the last 5 years, showing strong investor belief in its future.
• Positive market sentiment around PCG is likely influenced by anticipated benefits from previously approved general rate cases and cost-saving measures.

15.10.2023 - PCG Stock was up 5.1%

• PCG had a strong bullish movement today.
• The stock's positive movement could be attributed to the news of 12 local organizations receiving grants for environmental stewardship and climate resilience projects. This positive development may have improved investor sentiment towards PCG.
• Additionally, the rebuilding of Paradise, a town affected by a deadly wildfire caused by a PG&E transmission line, might have instilled confidence in the company's ability to recover and mitigate future risks.
• The broader market trend, with fifty S&P 500 companies recording their best day of the year, could have also contributed to the bullish movement of PCG.

02.09.2023 - PCG Stock was down 5.5%

• The appointment of Laphonza Butler as the replacement for Senator Dianne Feinstein may have caused uncertainty and concern among investors, leading to a bearish movement in PCG stock.
• The news about California regulators potentially restricting the number of power lines that PG&E can bury in favor of other fire risk reduction methods could have negatively impacted investor sentiment and contributed to the bearish market movement.
• The lack of news regarding Tesla starting deliveries of the Cybertruck may have also affected the overall market sentiment, indirectly impacting PCG stock.
• The general narrative of utilities stocks benefiting from a natural monopoly and the necessity for consumers to pay their bills could have provided some support to PCG, but it seems to have been overshadowed by other factors leading to the bearish movement.

26.08.2023 - PCG Stock was down 0.3%

• Short interest in PCG has fallen by 27.91%, indicating a decrease in bearish sentiment towards the stock.
• The company's relative strength rating has improved from 78 to 81, suggesting a positive market leadership.
• There is no direct correlation between the news articles provided and the bearish movement in PCG.

29.10.2023 - PCG Stock was down 7.3%

• Despite the positive news of PG&E reinstating its dividend for the first time since 2017, the stock had a bearish movement.
• The market might have reacted negatively due to concerns about the company's liabilities for the Northern California wildfires.
• Investors may be skeptical about the company's ability to reduce wildfire risk from its equipment by 94%, as mentioned in one of the articles.
• The announcement of the dividend could have been overshadowed by broader market factors or other negative news not mentioned in the provided articles.