PG&E (PCG) Surges: Stock Moves 7.3% Higher
PG&E Corporation PCG was a big mover last session, as the company saw its shares rise more than 7% on the day. The move came on solid volume too with far more shares changing hands than in a normal session. This stock, which remained volatile and traded within the range of $17.10–$20.97 in the past one-month time frame, witnessed a sharp increase yesterday.
The stock gained after the company announced that it has reached agreements for resolving wildfire claims. Also, it will make payments worth $1 billion to 18 different public entities as part of a Chapter 11 Plan of Reorganization.
The company has seen one negative estimate revision in the past few weeks, while its Zacks Consensus Estimate for the current quarter has also moved lower over the past few weeks, suggesting there may be trouble down the road. So make sure to keep an eye on this stock going forward, to see if this recent move higher can last.
PG&E currently has a Zacks Rank #4 (Sell) while its Earnings ESP is 0.00%.
Pacific Gas & Electric Co. Price
Investors interested in the Utility - Electric Power industry may consider a better-ranked stock like Atlantic Power Corporation AT, which carries a Zacks Rank #1 (Strong Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.
Is PCG going up? Or down? Predict to see what others think:Up or Down
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