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MarketScreener Homepage  >  Equities  >  Nyse  >  PG&E Corporation    PCG

PG&E CORPORATION

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PG&E : San Francisco Offers to Buy PG&E Wires in City

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09/08/2019 | 12:58pm EDT

By Katherine Blunt

The City of San Francisco on Sunday said it has offered $2.5 billion to acquire PG&E Corp.'s electrical lines serving the city.

The offer is a significant step in San Francisco's effort to create a public utility that would change the fundamental structure of PG&E by removing hundreds of thousands of customers from the giant utility's service territory.

The city began exploring the possibility of a public takeover after PG&E sought chapter 11 bankruptcy protection in January, citing more than $30 billion in potential liability costs stemming from its role in sparking a series of deadly wildfires in 2017 and 2018.

City officials said they believed the bid was "competitive, fair and equitable." PG&E said it would engage with the offer.

Write to Katherine Blunt at Katherine.Blunt@wsj.com

Stocks mentioned in the article
ChangeLast1st jan.
PG&E CORPORATION -4.84% 11.61 Delayed Quote.-48.63%
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Financials (USD)
Sales 2019 17 781 M
EBIT 2019 3 437 M
Net income 2019 -598 M
Debt 2019 24 406 M
Yield 2019 -
P/E ratio 2019 -13,1x
P/E ratio 2020 7,82x
EV / Sales2019 1,72x
EV / Sales2020 2,07x
Capitalization 6 144 M
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Technical analysis trends PG&E CORPORATION
Short TermMid-TermLong Term
TrendsBearishBearishNeutral
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus HOLD
Number of Analysts 14
Average target price 15,96  $
Last Close Price 11,61  $
Spread / Highest target 98,1%
Spread / Average Target 37,5%
Spread / Lowest Target -5,25%
EPS Revisions
Managers
NameTitle
John R. Simon Chief Executive Officer
Richard C. Kelly Independent Non-Executive Chairman
Jason P. Wells Chief Financial Officer & Senior Vice President
Richard A. Meserve Independent Director
Barbara L. Rambo Independent Director
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