What's Going On With PG&E Stock?

Benzinga2021-05-25

Shares ofPG&E Corporation PCG 3.02% rose as much as 3.11% on Monday after the California utility company disclosed plans to sell its San Francisco headquarters to Hines Atlas US LP for $800 million and return up to $420 million back to its customers.

What Happened:The sale is part of the gas and power company's planned move to Oakland in 2022 and consolidate two additional Bay Area offices into its new headquarters.

The deal will need the approval of the California Public Utilities Commission and is not anticipated to have an impact on the company’s 2021 equity needs, PG&E said in a statement.

The company had inFebruaryannounced a $973 million sale of transmission tower wireless licenses, another strategic sale of its non-core assets.

According to PG&E's most recent balance sheet, as reported on April 29, the company’s total debt is at $41.06 billion, with $37.80 billion in long-term debt and $3.26 billion in current debt.

Price Action:PG&E shares closed 2.8% higher at $10.58 on Monday.

Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.

Comments

Nzt48
2021-05-25
Nzt48
Nothing is going wrong
- chiapopo:
  加油 [想吃] [爱你] [想吃]
OO_898
2021-05-25
OO_898
Like
- jefferytan:
  hi pls comment
- JulianLee:
  Pls comment
- Slee49:
  hi

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