PG&E Shares Lag S&P 500 by 2.22 Points as 3.8 Bay Area Quake Spurs 50,000 Searches
Updated
Updated · ts2.tech · Aug 13
PG&E Shares Lag S&P 500 by 2.22 Points as 3.8 Bay Area Quake Spurs 50,000 Searches
1 articles · Updated · ts2.tech · Aug 13
Summary
PG&E fell 1.67% to $17.10 on Thursday while the S&P 500 rose 0.55%, leaving the utility stock trailing the index by 2.22 percentage points during a Bay Area earthquake scare.
A 3.8-magnitude quake near San Leandro — revised from 4.1 — triggered more than 50,000 Google searches and BART delays of up to 20 minutes, but no damage to PG&E infrastructure was immediately reported.
PG&E said a separate Wednesday outage affecting about 5,000 customers stemmed from a Daly City substation problem and was unrelated to the quake, limiting evidence that seismic disruption drove the stock move.
Second-quarter core EPS of $0.40 beat a $0.36 estimate and 2026 core EPS guidance of $1.64-$1.66 was reaffirmed, even as revenue missed forecasts at $5.90 billion.
Wildfire liability still looms larger for investors: seven of eight analysts rate PG&E a buy, with an average 12-month target of $23.75, about 38.9% above the current price.