QUOTE AND NEWS
Forbes  Jul 25  Comment 
On 7/29/14, PG&E Corp.'s 6% 1st Preferred Non-Redeemable (AMEX: PCG.PRA) will trade ex-dividend, for its quarterly dividend of $0.375, payable on 8/15/14. As a percentage of PCG.PRA's recent share price of $27.77, this dividend works out to...
newratings.com  Jul 11  Comment 
WASHINGTON (dpa-AFX) - Pacific Gas and Electric Company, a subsidiary of PG&E Corp. (PCG), said that it signed on to a new White House effort known as the Small Business Supplier Financing Initiative. The company has pledged to help small...
Benzinga  Jul 2  Comment 
In a report published Wednesday, Jefferies analyst Paul B. Fremont reiterated a Buy rating on PG&E (NYSE: PCG), and raised the price target from $51.00 to $53.00. In the report, Jefferies noted, “The cash contribution of deferred taxes will...
Forbes  Jun 25  Comment 
In the wake of the ongoing financial crisis, the importance of stable jobs and reliable companies has been amplified in our minds. Many enterprises have endured challenges during this period, but Pacific Gas & Electric has faced particularly...
Market Intelligence Center  Jun 25  Comment 
For a hedged play on PG&E Corp (PCG) MarketIntelligenceCenter.com’s patented trade-picking algorithms recommend the Dec. '14 $47.00 covered call for a net debit in the $45.78 area. That is also the break-even stock price for the covered call....
Benzinga  Jun 19  Comment 
In a report published Thursday, Morgan Stanley analyst Rajeev Lalwani reiterated an Overweight rating on PG&E (NYSE: PCG), but removed the $53.00 price target. In the report, Morgan Stanley “After the close yesterday, the California Commission...
DailyFinance  Jun 17  Comment 
VeriFone Systems, Inc. (NYSE: PAY), today announced that Karen Austin, change management expert and CIO for Pacific Gas & Electric Co. (PG&E), will join the board, effective immediately. “We are very excited to welcome Karen to...
SeekingAlpha  May 1  Comment 
PG&E (PCG) Q1 2014 Earnings Call May 01, 2014 11:00 am ET Executives Sara A. Cherry - Vice President of Investor Relations Anthony F. Earley - Chairman, Chief Executive Officer, President and Chairman of Executive Committee ...
Wall Street Journal  May 1  Comment 
PG&E Corp. said its first-quarter earnings fell 5% amid higher costs that offset the electric utility's revenue growth.
newratings.com  May 1  Comment 
Forbes  Apr 30  Comment 
Analysts have become increasingly bearish on PG&E in the month leading up to the company's first-quarter earnings announcement scheduled for Thursday, May 1, 2014. The consensus analyst estimate has moved from 72 cents a share to the current...




RELATED WIKI ARTICLES
 

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

History

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!

Competitors

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.



References

  1. PCG 10-K 2009 Item 1 Pg. 1
Wikinvest © 2006, 2007, 2008, 2009, 2010, 2011, 2012. Use of this site is subject to express Terms of Service, Privacy Policy, and Disclaimer. By continuing past this page, you agree to abide by these terms. Any information provided by Wikinvest, including but not limited to company data, competitors, business analysis, market share, sales revenues and other operating metrics, earnings call analysis, conference call transcripts, industry information, or price targets should not be construed as research, trading tips or recommendations, or investment advice and is provided with no warrants as to its accuracy. Stock market data, including US and International equity symbols, stock quotes, share prices, earnings ratios, and other fundamental data is provided by data partners. Stock market quotes delayed at least 15 minutes for NASDAQ, 20 mins for NYSE and AMEX. Market data by Xignite. See data providers for more details. Company names, products, services and branding cited herein may be trademarks or registered trademarks of their respective owners. The use of trademarks or service marks of another is not a representation that the other is affiliated with, sponsors, is sponsored by, endorses, or is endorsed by Wikinvest.
Powered by MediaWiki