Market Intelligence Center  Aug 10  Comment 
The patented algorithms that power MarketIntelligenceCenter.com's Artificial Intelligence Center found a trading opportunity with PG&E Corp (PCG) that should provide a 2.27% return in just 221 days. Sell one Mar. '16 call at the $50.00 level for...
Market Intelligence Center  Aug 7  Comment 
After closing Thursday at $52.16, PG&E Corp (PCG) presents an attractive opportunity to get a 2.12% return in just 133 days, which is an annualized return of 5.83% (for comparison purposes only). To enter this trade, sell one Dec. '15 $50.00 call...
newratings.com  Aug 5  Comment 
WASHINGTON (dpa-AFX) - PG&E Corp. (PCG) announced that, subject to the scheduled close of the sale of approximately $350 million of its common stock through a registered underwritten public offering to Wells Fargo Securities, LLC, it has completed...
TheStreet.com  Jul 30  Comment 
NEW YORK (TheStreet) -- PG&E was downgraded to "neutral" from "outperform" at Credit Suisse, with a lowered price target to $58 from $61. Yesterday, PG&E announced its 2015 second quarter financial results with earnings of $0.83 per share on...
Benzinga  Jul 30  Comment 
newratings.com  Jul 29  Comment 
WASHINGTON (dpa-AFX) - PG&E Corp.'s (PCG) second-quarter 2015 net income available for common shareholders was $402 million or $0.83 per share, up from $267 million, or $0.57 per share, for the second quarter of 2014. GAAP results include...
TheStreet.com  Jul 28  Comment 
NEW YORK (TheStreet) -- Shares of PG&E were gaining 0.4% to $52.04 Tuesday ahead of the natural gas and electricity utility company's second quarter financial report which is due before the market opens on Wednesday. Analysts expect Exelon to...
Forbes  Jul 27  Comment 
In afternoon trading on Monday, Utilities stocks are the best performing sector, up 1.4%. Within that group, PG&E Corp. (NYSE: PCG) and American Electric Power Company, Inc. (NYSE: AEP) are two large stocks leading the way, showing a gain of 2.8%...
newratings.com  Jul 8  Comment 
WASHINGTON (dpa-AFX) - Public utility firm PG&E Corp. (PCG), an energy-based holding company that owns Pacific Gas and Electric Co., on Wednesday reported a 51 percent increase in profit for the second quarter from last year on higher revenues. ...


PG&E Corp (NYSE: PCG) is an energy holding company whose primary subsidiary is the regulated utility, Pacific Gas and Electric. PG&E operates in 47 of 58 Northern and Central Californian counties and provides electricity and gas to over 9 million customers. As a regulated utility, PG&E has very little competition and a strong customer base. In 2009, it had 5.1 million electricity distribution customers, and 4.3 million natural gas distribution customers. Its business is stable and relatively low-risk because the utility can rely on a consistent customer base who pay rates determined by the state utilities commission.

Ultimately, PG&E’s future is inextricably tied to its relationship with the California Public Utilities Commission (CPUC). The CPUC is responsible for setting most of the regulations that govern PG&E’s business—most importantly the rates it is able to charge customers. In 2000, the CPUC set rates so low PG&E couldn’t turn a profit, which forced them into bankruptcy and contributed to the state-wide energy crisis. Since then, PG&E and the CPUC have had a better relationship, due in part to residual fears of another crisis. However, PG&E has to renegotiate its “rate-case” in 2011, so it is unclear how long the current trend will last.

Company Overview


Pacific Gas and Electric (PG&E) was founded in San Francisco in 1905 after the consolidation of more than two dozen power and water companies across California. PG&E began delivering natural gas to northern California in 1930 and after WWII began quickly building new power plants. In the late 1990s, deregulation of the California energy market allowed PG&E to sell most of its natural gas plants. While it continued to operate other types of plants (hydroelectric, nuclear, and a few remaining natural gas), this move forced the utility to buy power from outside energy generators at variable prices while providing energy to consumers at fixed rates. In 2000, energy costs became so high that California was pushed into an energy crisis that including rolling blackouts throughout the state. PG&E was forced to declare bankruptcy in April 2001 when it could no longer sell energy for more than it could buy on the open market. PG&E emerged from bankruptcy in April 2004.

Business Performance and Products

PG&E provides gas and electricity to customers across Northern and Central California. The utility owns power-generation facilities that supply approximately 40% of its annual needs and purchases the rest. These facilities include 118 hydroelectric, nuclear, and fossil-fuel plants in California. During 2009, PG&E had revenues of $13.4 billion, and was able to post a net income of $1.23 billion in 2009.

PG&E supplies electricity to 5.1 million customers and gas to 4.3 million customers.[1] As the dominant utility in the region, PG&E provides electricity to both homes and businesses. The corporate-sales side is particularly complex in Silicon Valley, where IT firms need especially high amounts of energy. PG&E also works with large customers (like Yahoo! (YHOO) and Adobe Systems (ADBE)) to help them design facilities that are energy efficient and keep power use low across their companies. Here is a breakdown of customer profiles for both the gas and electricity businesses:

I think you hit a bullseye there flelas!


As a regulated utility company, PG&E has no real competition in the markets it serves. In other parts of California, two other energy concerns provide power: Southern California Edison and San Diego Gas & Electric. Nationwide, PG&E performs well compared to other utilities and is even considered a “bellwether” company in the domestic utility industry because of its especially constructive relationship with the CPUC and the growing California electricity market—since 2003, PG&E has grown twice as fast as the industry as a whole. While not the only company to provide both gas and electricity, PG&E is in the minority as more utilities focus exclusively on electricity.


  1. PCG 10-K 2009 Item 1 Pg. 1
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