Keep Your Eyes on This Stock Alert: PG&E Corporation (NYSE: PCG)

On 19 March 2020, PG&E Corporation stock (NYSE: PCG) identified change of 122.82% away from 52-week low price and recently located move of -68.60% off 52-week high price. It has market worth of $5563.34M. PCG stock has been recorded -44.47% away from 50 day moving average and -40.35% away from 200 day moving average. Moving closer, we can see that shares have been trading -42.84% off 20-day moving average.

PG&E Corporation (NYSE: PCG) full-year 2019 net loss attributable to ordinary shareholders was $7.7B, or $14.50 per share, as stated in accordance with generally accepted accounting principles (“GAAP”). This compares with net loss attributable to ordinary shareholders of $6.9B, or $13.25 per share, for the full-year 2018. For the fourth quarter of 2019 net loss attributable to ordinary shareholders was $3.6B, or $6.84 per share, contrast with net loss attributable to ordinary shareholders of $6.9B, or $13.24 per share, for the fourth quarter of 2018.

Five-year Financial Forecast

As a milestone in the process of emerging from Chapter 11 reorganization, PG&E is also releasing a five-year financial forecast highlighting capital and rate base growth together with other material drivers of the business, as well as filing three-statement financials with the Bankruptcy Court. This financial forecast was developed for purposes of the formulation and negotiation of the Plan of Reorganization and to enable the stakeholders entitled to vote under the Plan to make an informed judgment about the Plan and should not be used or relied upon for any other purpose.

Chapter 11 Proceeding and Timeline

On January 31, 2020, PG&E submitted regulatory and court filings outlining the key elements of the company’s updated Chapter 11 Plan of Reorganization. Key elements include: refreshing the Boards of Directors of PG&E Corporation and the Utility; regionalizing the company’s operations and its infrastructure to enhance the company’s focus on local communities and consumers; paying value in excess of $25B to wildfire victims through the settlements reached with individual victims, subrogation claimants, and public entities; and emerging with a financing structure that protects consumer rates and positions the company for long-term success.

PG&E believes it remains on track to have its Chapter 11 Plan confirmed by June 30, 2020, the deadline for participating in the state’s new wildfire fund under the terms of Assembly Bill (“AB”) 1054.

“PG&E has made important progress in our Chapter 11 cases over the past year. We have resolved essentially every consequential issue within the Bankruptcy Court’s jurisdiction, most notably reaching a settlement with wildfire victims. Our focus now is on working with all key stakeholders, including elected officials and state regulators, to position PG&E for emergence as a financially stable company with a renewed and rigorous focus on safe operations and consumer service, while meeting California’s energy needs and goals in a changed climate,” stated PG&E Corporation Chief Executive Officer and President Bill Johnson.

2020 Guidance

PG&E Corporation is not providing guidance for 2020 GAAP earnings and non-GAAP core earnings. However, the company is providing factors affecting 2020 non-GAAP core earnings and guidance for non-core earnings items.

These include a range of drivers causing a variance in earnings below authorized, including net below the line and spend above authorized of $150M to $200M after tax and unrecovered interest expense of $150M to $250M after tax. PG&E Corporation is providing 2020 non-core items guidance of about $1.4B after-tax for Chapter 11-related costs, wildfire fund-related costs, investigation remedies and delayed cost recoveries, and GT&S capital audit.

Both the drivers and non-core items guidance are based on various assumptions and forecasts related to future expenses and certain other factors.

 The Utilities sector company, PG&E Corporation noticed change of 8.80% to $7.91 along volume of 16505325 shares in recent session compared to an average volume of 11698.73K. PCG’s shares are at -27.50% for the quarter and driving a -58.54% return over the course of the past year and is now at -27.23% since this point in 2018.   The average volatility for the week at 21.67% and for month was at 11.08%. There are 703.33M shares outstanding and 519.63M shares are floated in market.

James Emmons

James Emmons – Technology and Energy I am James Emmons I have completed my bachelor’s degree in Information Technology and a master’s degree in Business. I love to write about technology. I had three years of writing experience which include articles, web content, and blogs. I always love to play with work, in both my career and education.  I also had teaching experience of 5 years at the renowned university to teach business and technical writing and currently working as an instructor and training writer and designer. I am incredibly social, and I love to travel and explore the world.

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